更多"A portfolio manager adds a new stoc"的相关试题:
[单项选择]A portfolio manager anticipates a major increase in market interest rates. Which trading strategy would be most likely to generate above average returns in a bond investment Purchasing:（）
A. short maturity bonds with high coupon rates.
B. speculative grade bonds with high coupon rates.
C. bonds that will increase the average duration of the investment portfolio.
[单项选择]A fixed income portfolio manager is evaluating investments in the mortgage market but is concerned about prepayment risk. The security that will most likely minimize prepayment risk is.（）
A. mortgage passthrough security.
B. a portfolio of interest-only mortgage loans.
C. tranche B of a collateralized mortgage obligation.
[单项选择]Frank Jameson is a portfolio manager with 90 percent of the large-cap diversified mutual fund he controls invested in common stocks. Jameson is concerned the overall market will decline by a significant amount over the next two months due to a slowing of the general economy. Which of the following actions will provide a hedge for the mutual fund（ ）
A. Purchasing call options on the S&P 500.
B. Writing put options on the S&P 500.
C. Purchasing put options on the Standard and Poor’s 500 Index (S&P 500).
[单项选择]Laura James is the head portfolio manager for National Fund, a U.S. based mutual fund with a well-respected track record. National’s primary focus is on large-cap domestic equities, and the fund has consistently posted high returns relative to its peer group over the past seven years. Much of National’s recent success is from its investments in the U.S. automobile industry, which have posted extraordinary returns due to a favorable economic scenario. Over the past seven years, the U.S. economy has been expanding, foreign competition has not met consumer expectations, and oil prices have remained low. These factors have contributed to an increase in market share for the domestic producers (at the expense of foreign competitors), and the result has been strong earnings for the top U.S. automakers.
Ford Motor Company, in particular, has enjoyed tremendous success in this environment. Ford has capitalized on the trend toward bigger vehicles, particularly sport utility vehicles (SUVs),
A. Profits are high and competition increases from other firms in the industry.
B. Profits increase as firms enter the industry.
C. Profits are low and firms flee the industry.
D. Prices could increase or decrease depending on the level of profits.
[单项选择]A portfolio manager is looking at an investment that has an expected annual return of 10% with a standard deviation of annual returns of 5%. Assuming the returns are approximately normally distributed, the probability that the return will exceed 20% in any given year is closest to:（）
A. 0.0%.
B. 4.56%.
C. 2.28%.
[单项选择]Paul Salyer, CFA and portfolio manager is making a presentation to a prospective client. Paul says that as a new portfolio manager, he made an average annual rate of return of 50 percent in the last two years at his previous firm and that based on this, he can guarantee a 50 percent return to the client. Which of the following statements is in accordance with the Standard Ⅲ (D), Performance Presentation（）
A. Implying that he can guarantee a return.
B. Imputing his past performance to future performance.
C. Stating his past performance as long as it is fact.
[单项选择]Pamela Gee is a portfolio manager. She is planning to establish her own money management firm. She has already informed her employer, Branford, Inc., about her plans. In her remaining time at Branford, she can:（）
A. start the registration of her new company.
B. solicit Branford colleagues but not Branford clients.
C. inform her current clients about her resignation and let them know how to reach her, in case any problems arise in the future.
[单项选择]A fixed income portfolio manager owns a $5 million par value noncallable bond. The bond’s duration is 5.6 and the current market value is $5125000. The dollar duration of the bond is closest to:（）
A. $280000.
B. $287000.
C. $700000.
[单项选择]Chris Babcock, CFA, a portfolio manager for a large Texas investment firm, has been offered compensation in addition to what her firm pays her. The offer is from one of her clients and the additional compensation will be based on her yearly performance in excess of the market index. Babcock should :（）
A. turn down the offer because it represents a clear conflict between this client and Babcock’s other clients.
B. make written disclosure to all parties involved before she accepts this offer.
C. make written disclosure to her other clients before she accepts this offer.
[单项选择]Vincent Chase, CFA, is a portfolio manager for an investment advisory firm. Chase delegates some of his supervisory- duties to Janet Marshall, CFA, after educating Marshall on methods to prevent and detect violations of the firms of the firm’s compliance procedures. Despite these efforts, Chase discovers that an employee reporting to Marshall may have violated the procedures. According to the Standards of Practice Handbook, Chase’s least likely initial course of action must be to:（）
A. suspend the employee.
B. increase supervision of Marshall.
C. initiate an investigation to determine the extent of the wrongdoing.
[单项选择]Stanley Crux, CFA, a portfolio manager at NWS Asset Management Ltd, calls a friend to join him for dinner. The friend, a financial analyst at D&M Corporation declines the invitation and explains that she is performing due diligence on Orca Electronics, a company that D&M is about to acquire. After the phone call, Crux searches the Internet for any news of the acquisition but finds nothing. Upon verifying that Orca is on NWS’s approved stock list, Crux purchases Orca’s common stock and call options for the NWS clients. Two weeks later, D＆M announces its intention to acquire Orca. The next day, Crux sells all of the Orca securities, giving the fund a profit of $ 3 million. According to the Standards of Practice Handbook, did Crux violate any CFA Institute Standards of Professional Conduct（）
A. No.
B. Yes, because he traded on material nonpublic information.
C. Yes, because he only purchased stock and options for selective clients, not all clients.
[单项选择]Kenneth, CFA, is a portfolio manager at A & B limited, if he suspects a colleague at his company of engaging in ongoing illegal activities, as according to the CFA Institute Standards of Professional Conduct, he is required to take all of the following actions EXCEPT:（）
A. determine whether the conduct is, in fact, illegal.
B. disassociate himself from any illegal activity.
C. report the illegal violations to the appropriate governmental or regulatory organizations.
[单项选择]Kenneth, CFA, is a portfolio manager at A&B limited, if he suspects a colleague at his company of engaging in ongoing illegal activities, as according to the AIMR Standards of Professional Conduct, he is required to take all of the following actions EXCEPT:（）
A. determine whether the conduct is, in fact, illegal.
B. disassociate himself from any illegal activity.
C. report the illegal violations to the appropriate governmental or regulatory organizations.
[单项选择]Stock A has a standard deviation of O. 5 and Stock B has a standard deviation of 0.3. Stock A and Stock B are perfectly positively correlated. According to Markowitz portfolio theory how much should be invested in each stock to minimize the portfolio’s standard deviation（）
A. 100% in Stock A.
B. 50% in Stock A and 50% in Stock B.
C. C. 100% in Stock
[单项选择]Google recently introduced a new service that adds social-networking features to its popular Gmail system. The service is called Buzz, and within hours of its release, people were howling about privacy issues—because, in its original form, Buzz showed everyone the list of people you e-mail most frequently. Even people who weren’t cheating on their spouses or secretly applying for new jobs found this a little unnerving.
Google backtracked and changed the software, and apologized for the misstep, claiming that, it just never occurred to us that people might get upset. "The public reaction was something we did not anticipate. But we’ve reacted very quickly to people’s unhappiness," says Bradley Horowitz, vice president for product management at Google.
Same goes for Facebook. In December, Facebook rolled out a new set of privacy settings. A spokesman says the move was intended to "empower people" by giving them more "granular (颗粒)" control over their personal informatio
A. They intrude people’s privacy under tricky disguise.
B. They endeavor to change people’s ideas on privacy.
C. They frighten people to give up some privacy.
D. They take serious responsibility for people’s privacy.
