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Carina9999 · 2022年04月20日

feature 1 能否解释一下？

  1. CFA III
  2. Fixed Income

NO.PZ2018120301000005

问题如下：

Margit asks Cécile to analyze liability-based mandates for a meeting with Villash Foundation. Villash Foundation is a tax-exempt client. Prior to the meeting, Cécile identifies what she considers to be two key features of a liability-based mandate.

  • Feature 1: It can minimize the risk of deficient cash inflows for a company.
  • Feature 2: It matches expected liability payments with future projected cash inflows.
Is Cécile correct with respect to key features of liability-based mandates?

选项：

A.

Yes

B.

No, only Feature 1 is correct

C.

No, only Feature 2 is correct

解释：

A is correct. Liability-based mandates are investments that take an investor’s future obligations into consideration. Liability-based mandates are managed to match expected liability payments with future projected cash inflows. These types of mandates are structured in a way to ensure that a liability or a stream of liabilities can be covered and that any risk of shortfalls or deficient cash inflows for a company is minimized.

麻烦老师解释一下，feature1 为什么是对的呢？

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已采纳答案

pzqa015 · 2022年04月20日

嗨，从没放弃的小努力你好：


feature1说，liability base mandate可以公司现金流入不足的风险。这是正确的

Liability base方法从公司负债开始分析，根据负债的特点来构建portfolio，力争保证portfolio的现金流可以cover负债的流出，这就意味着公司现金流入不足（不足以cover负债）的风险最小化了。

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努力的时光都是限量版，加油！

椰子皮 · 2022年08月21日

老师，这道题考点在哪？

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