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CFA level 1 (portfolio management) Questions and Answers 100% Solved €13,34   In winkelwagen

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CFA level 1 (portfolio management) Questions and Answers 100% Solved

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CFA level 1 (portfolio management)

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  • 8 november 2024
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julianah420
CFA level 1 (portfolio management)

algorithmic trading - answer the computerized buying and selling of financial
instruments, in accordance with pre-specified rules and guidelines

Dark Pools - answer electronic trading networks where participants can anonymously
buy or sell large blocks of alternative securities

robo-advising - answer suggests assets for a client but does not place the trades

Risk Budgeting - answer- quantifies and allocates the tolerable risk according to specific
metrics
- ex: beta, value at risk, scenario loss, etc...

Planning step.... - answer• Understanding the client's needs
• Preparation of an investment policy statement (IPS)

Execution step... - answer• Asset allocation
• Security analysis
• Portfolio construction

Feedback step... - answer• Portfolio monitoring and rebalancing
• Performance measurement and reporting

_______ impacts an individuals ability to take risk - answer- expected income
- time horizon

*personality impacts their willingness!

A portfolio with the greatest diversification has assets with a correlation of _____ -
answershould be negative! A positive correlation is bad for diversification, and 0 is fine
but not as diversified as a negative correlation

Bollinger Bands - answerconsist of a moving average price plus a higher line
representing the moving average plus a set number of standard deviations from the
average price and a lower line that is the moving average minus the same set number
of standard deviations.

Funds of hedge funds - answerFunds that hold a portfolio of hedge funds.
- Adds a layer of fees because each fund will charge a management fee plus an
incentive fee
- Due diligence expertise!

, - Very diversified!

The most conservative approach to valuing hedge fund positions is.... - answerBid
prices for longs and ask prices for shorts

Pros and cons of collectables as an investment - answerPros: Long term capital
appreciation, portfolio diversification

Con: Doesnt provide current income

Management fees for hedge funds vs private equity... - answer- Hedge funds are based
on only invested capital
- Private equity is based on committed capital!

Macro strategies - answerEmphasize a top-down approach, and trades are made based
on expected movements of economic variables

Relative value strategies - answerFocus on pricing discrepancies between related
securities

Event-driven strategies - answerFocus on short-term events that are expected to affect
individual companies (bottom up)

Green finance is an example of... - answerimpact investing

Dual class firms - answer- Proponents of dual-class structures argue that management
is better able to make long-term strategic investments that may have negative short-
term implications when control is wielded by a small group of shareholders with superior
voting rights.

- Trade at a discount to peers

A company's optimal capital budget most likely occurs at the intersection of the: -
answermarginal cost of capital and investment opportunity schedule.

With a fixed-rate non-callable bond, the before-tax cost of debt is the - answerbond's
yield to maturity.

Purpose of post-audit - answerTo explain any differences between the actual and
predicted results of a capital budgeting project. This can include indicating systematic
errors, improving business operations, and provide concrete ideas for future investment
opportunities

Country Equity Premium - answer(Sovereign yield spread)(Annualized standard
deviation of equity index/Annualized standard deviation of the sovereign bond market in
terms of the developed market currency)

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