[单项选择]An investor currently holds a portfolio that is expected to return 15 percent. The investor is planning to sell one of the securities included in the current portfolio that has an expected return of 13 percent and use the proceeds to purchase a security that has an expected return of 14 percent. Compared to the investor’s current portfolio, the expected return for the investor’s revised portfolio will be:（）
A. above 15 percent whether or not any change occurs in the standard deviation of the portfolio
B. below 15 percent whether or not any change occurs in the standard deviation of the portfolio
C. above 15 percent only if the covariance of the new security is lower than the covariance of the security that was sold.

[单项选择]A portfolio currently holds Randy Co. and the portfolio manager is thinking of adding either XYZ Co. or Branton Co. to the portfolio. All three stocks offer the same expected return and total risk. The covariance of returns between Randy Co. and XYZ is + 0.5 and the covariance between Randy Co. and Branton Co. is- 0.5. The portfolio’s risk would decrease:（）
A. most if she put half your money in XYZ Co. and half in Branton Co.
B. more if she bought Branton Co.
C. if she bought XYZ Co. but increase if she bought Branton Co.

[单项选择]An investor holds a portfolio of two stocks, ABC Inc. , and XYZ Corp, and is considering adding the stock of New Company to her portfolio. For diversification purposes, the most important factor for her considers where making this decision is:（　）
A. new Company’s expected return relative to the of ABC and XYZ.
B. the average covariance of New Company’s returns with the returns of ABC and XYZ.
C. the total variance of New Company’s returns relative to the variance of returns for ABC and XYZ.

[单项选择]An investor currently has a portfolio valued at $700 000. The investor’s objective is long-term growth, but the investor will need $ 30 000 by the end of the year to pay his son’s college tuition and another $10 000 by year-end for his annual vacation. The investor is considering three alternative portfolios.（）
A. portfolio
B. expected return
C. standard deviation of returns
D.

1

2

3

E.

8%

10%

14%

F.

10%

13%

22%

[单项选择]An investor owns a stock portfolio that closely follows the Standard & Poor’s 500 Index (S&P500). He purchases one S&P500 stock index put option. The investor’s position is now portfolio insurance with the following characteristics: Portfolio position: LONG S&P500 Portfolio purchase price: 1427.21 Option position: LONG 1 put option Underlying asset: S&P 500 Index Exercise price : 1225 Premium : 3 Expiration date : November If the expiration-day price of S&P500 were 1200, then the expiration-day profit/loss for the portfolio insurance would be:

[单项选择]An investor has a portfolio with 10 percent cash, 30 percent bonds, and 60 percent stock. If last year’s return on cash was 2.0 percent, the return on bonds was 9.5 percent, and the return on stock was 25 percent, what was the return on the investor’s portfolio（）
A. 22. 30%.
B. 36.50%.
C. 18.05%.

[单项选择]Biggs, Inc., holds a bond portfolio that is, on average, trading below par value. They have faced some cash flow problems of late and have used the bond interest payments for operating expenses. The bonds are callable. Given the current situation, Biggs faces which types of risk（）
A. Interest rate risk. 
B. Interest rate risk and reinvestment risk. 
C. Interest rate risk and call risk.

[简答题]outward investor

[单项选择]Both Portfolio X and Portfolio Y are well-diversified. The risk-free rate is 8 percent, and the return for the marker is 16 percent, that is: Portfolio Expected Return Beta X 16% 1.00 Y 12% 0.25 In this situation, which of the following Correlation of Returns about Portfolio X and Portfolio Y is true Portfolio X Portfolio Y（） ①A. overvalued properly valued ②B. properly valued undervalued ③C. undervalued properly valued
A. ①
B. ②
C. ③

[单项选择]设随机变量X的二阶矩存在，则
(A) EX²＜EX． (B) EX²≥EX．
(C) EX²＜(EX)²． (D) EX²≥(EX)²．

[单项选择]An incredible opportunity for real estate investors is investing in foreclosure. Foreclosed homes repeatedly sell at deep discounts; which provides buyers a straightforward opportunity to profit. Because foreclosed homes are often highly discounted, they can be purchased and sold with a large return. Homes that are facing or have vanished by way of foreclosure often meet the investing goals of both the long term investor and the investor that plans to flip the property.
Plainly stated, a foreclosed property is one that has been repossessed by the lender for non-disbursement of the mortgage. Since the majority mortgages are collateralised by the actual property, a dwelling that has gone through foreclosure has re-claimed by the bank. There are a lot of things that occur all through this progression, and depending on which status the residence is located, the procedure can actually take numerous months. As a consequence of the difficulty of the process as well as the length and the
A. reject
B. control
C. prevent
D. disqualify

[简答题]WHAT IS INVESTOR CONCERN ABOUT INVESTMENT CONTROL ·CONTROL IS VERY IMPORTANT TO MANY COMPANIES WHO ARE RELUCTANT TO TRANSFER CERTAIN VITAL RESOURCES TO ANOTHER DOMESTIC OR FOREIGN ORGANIZATION … · OPERATING COSTS MAY DECREASE AND THE SPEED OF TECHNOLOGICAL TRANSFER MAY INCREASE WHEN CONTROL IS RETAINED FOR SEVERAL REASONS. B. WHAT IS IMPORTANT WHEN MOTIVATING STAFF · FINANCIAL BENEFITS · CAREER DEVELOPMENT OPPORTUNITIES C. WHAT MAKES A GOOD SECRETARY · BE PRUDENT AND CAREFUL · HAVE GOOD RELATIONSHIP WITH OTHER COLLEAGUES

[单项选择]When setting investor objectives in the investment policy statement, expressing goals only in terms of returns can:（）
A. lead to inappropriate investment practices by the portfolio manager, such as the use of low-risk investment strategies.
B. distort the expected outcome.
C. lead to inappropriate investment practices by the portfolio manager, such as the use of high-risk investment strategies.

[填空题]The leading investor on African infrastructure projects is______.