"Portfolio Management":asset allocation

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来源: 正保会计网校编辑：小鞠橘桔 2020/12/08 09:38:49　字体：大小

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Questions 1:

With respect to the portfolio management process, the execution step most likely includes:

A 、portfolio monitoring.

B 、asset allocation.

C、 developing the investment policy statement.

Questions 2:

If Investor A has a lower risk aversion coefficient than Investor B, on the capital allocation line, will Investor B’s optimal portfolio most likely have a higher expected return?

A 、Yes

B 、No, because Investor B has a higher risk tolerance

C、 No, because Investor B has a lower risk tolerance

View answer resolution

【Answer to question 1】B

【analysis】

B is correct. Asset allocation is part of the execution step of the portfolio management process. The execution step also includes security analysis and portfolio construction.

A is incorrect. Portfolio monitoring is part of the feedback step of the portfolio management process.

C is incorrect. Preparation of an investment policy statement is part of the planning step of the portfolio management process.

【Answer to question 2】C

【analysis】

C is correct. Investor B has a higher risk aversion coefficient, thus a lower risk tolerance and a lower expected return on the capital allocation line.

A is incorrect. Investor A has a higher expected return on the capital allocation line.

B is incorrect. Investor B has lower risk tolerance.

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