第三章单元测试
- One can manage firm-specific risk by diversification. ( )
- If interest rates go up, both pricing risk and reinvestment risk go up as well. ( )
- The rebalancing in bond immunization should be as frequent as possible. ( )
- Which of the following is correct about factor models? ( )
- Which of the following is correct about the term structure? ( )
A:对 B:错
答案:对
A:对 B:错
A:对 B:错
A:One can use a factor model to break down the total risk of a risky equity asset/portfolio into systematic and unsystematic components. B:The more factors that a factor model includes, the greater explanatory power it can generates. C:All factor models need to include the market portfolio as a risk factor. D:The number of factors cannot exceed 3.
A:The term structure is usually mandated by the central bank as part of a monetary policy. B:The shape of the term structure in normal time is upward sloping, indicating that short-term interest rates are lower than long-term ones. C:When the term structure becomes flatter and flatter, it indicates that short-term government bonds become relatively more expensive than long-term government bonds. D:If we observe an inverse term structure, one can infer that investors would now prefer to hold short-term government bonds than long-term government bonds.
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