azimao

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以下是引用henrypark在2008-6-8 23:35:00的发言：
nowhere兄 ethic够强悍。应该全对。 prudent man问的是高风险的portfolio是否符合prudent man的需求。

prudent man 那道题,我觉得是在考DELEGATION, prudent investor 可以delegation, investing in fund,prudent man can't delegation.

azimao

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以下是引用henrypark在2008-6-9的发言：
隐约记得有个communications的问题。好像是和每年例常会议之间还会穿插其他的meeting 有关。对不住，忘了答什么。

changes to the chosen investment process should be informed to investors on an ongoing basis,所以在年会之间，如果有变化，也要通知客户．

azimao

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以下是引用edisonhu在2008-6-9 0:13:00的发言：

似乎都不能deleget ，因为经理持有该标的。

持有股票和ＤＥＬＥＧＡＴＩＯＮ有关吗？

azimao

ＢＯＮＤ那道题我也选credit spread, cap risk没什么关系，各项指标向好，应该不会downgrade.alternative investment 应该是sale price  对，gross income 错．

azimao

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以下是引用nowhere在2008-6-9 1:01:00的发言：
Azimao, 很强啊。疑难杂症，手到病除。期待reference answer....特别是ethics的。

看了你写的ＥＴＨＩＣＳ，觉得基本和我答得差不多．另外记得两个，一个是ＳＡＭＬＬ　ＢＡＳＫＥＴ礼物也不行；ｃｏｄｅ和公司的ＣＯＭＰＬＩＡＮＣＥ　ＰＯＬＩＣＹ不能掺合在一起．

azimao

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以下是引用joshle在2008-6-9 1:16:00的发言：

Real Estate 最大 depreciation risk 的是什麼? Hotel? Apartment? Warehouse?

ＷＡＲＥＨＯＵＳＥ，　Ｇ为负．

azimao

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以下是引用wuyuan17在2008-6-9 1:20:00的发言：

ethics: why cannot combine CFA compliance and company policy? CFA compliance should be applied to real situation ba?  And only oral is not enough, should have book, I think.

Global portfolio definitely not right, CAPM no global portfolio a; risk free ICAPM use local+inflation differential?

The local risk free rate is actually not risk free. I guess I choose C.

alternative investment 应该是sale price  对，gross income 错? I choose the one that agree with Mkt price will undervalue and gross income is correct, is this the answer? I cannot remember if the same with you, but I guess so.

Commingling compliance procedures in the firm's code of ethics will diminish the goal of reinforcing with the firm's employees their ethical obligations.Stand-alone codes of ethics should be written in plain language.

azimao

哪有PREPAYMENT RISK 这个选项?,只有CAP, DEFAULT, DOWNGRADE , AND CREDIT SPREAD.

azimao

同意楼上ＲＥＶＥＮＵＥ算法。

[此贴子已经被作者于2008-6-9 1:57:43编辑过]

azimao

补充点我记得的ＱＭ，　PPP, 双边Ｔ检验，〉＝０，最后一个好像选Ａ，记不太清楚了。