NO.PZ2020042003000015
问题如下：
Which of the following statements about the
“Liquidity Risk Management of Financial Institutions” is NOT correct?
选项：
A. For commercial banks, a bank run may cause all
or a large number of depositors asking for the return of their money
simultaneously.
B. For commercial banks, rollover
risk is the risk that the short-term debt cannot be refinanced or can be
refinanced only on highly disadvantageous terms.
C. Hedge Funds face liquidity
risk throughout their capital structures, such as Hedge funds permit investors
to withdraw their funds at agreed-upon intervals.
D. Unlike
other intermediaries, hedge funds do not face short-term funding risk on their
assets.
解释：
考点：对Liquidity Risk Management of Financial
Institutions的理解
答案：D选项描述错误，本题选D
解析：
D选项错误，对于Hedge fund，通常依赖Collateral markets，或者是Short positions来获取短期融资，因此HFs面临Short-term funding risk.
D选项正确的描述为：Like
other intermediaries, hedge funds also face short-term funding risk on their
assets. Hedge funds typically have no access to wholesale funding and rely
entirely on collateral markets, short positions, derivatives, and other
mechanisms.
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