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Carson

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tT
发表于 2011-7-13 13:28 | 只看该作者

foundation vs. endowment liquidity

public, following, foundation
Which of the following are characteristics of public foundations’ and endowments’ liquidity needs, respectively?

A) Moderate; moderate.

B) Varies; low.

C) Low; varies.

Is this a bad Q or is it valid?
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bboo

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2#
发表于 2011-7-13 13:28 | 只看该作者
B is correct. This is from the Q bank.

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lcai

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3#
发表于 2011-7-13 13:28 | 只看该作者
try another one:
True or false:

Endowments have lower liquidity requirements than life insurance companies because endowment spending needs are met through a combination of current income and capital appreciation.

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former

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4#
发表于 2011-7-13 13:28 | 只看该作者
Sounds like a bad question to me. Anyone care to opine?

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dyga

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5#
发表于 2011-7-13 13:28 | 只看该作者
foundation will vary because they may or may not have immediate funding needs. Pretty sure CFA says endowments tend to have longer liability horizons and thus low liquidity needs.

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Analti_Calte

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6#
发表于 2011-7-13 13:28 | 只看该作者
True... Its from the EOC Q...

Traditionally, Life Insurance Co's had relatively low liquidity needs but the increased disintermediation risk & asset marketability risk has increased the need for liquidity...

As for the endowment, they are only required to spend a low% of MV in any given year, and since it is predictable cash flows, their liquidity need is lower than Life Ins. Co's...

Life Insurance Co's can have unpredictable cash outflows due to mortality risk...

Overall, True...

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lcw77

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7#
发表于 2011-7-13 13:28 | 只看该作者
happyking02 Wrote:
-------------------------------------------------------
> try another one:
> True or false:
>
> Endowments have lower liquidity requirements than
> life insurance companies because endowment
> spending needs are met through a combination of
> current income and capital appreciation.


so true

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