CFA论坛 - Powered by Discuz! Board

标题: Reading 74: Alternative Investments-LOS p 习题精选 [打印本页]

作者: 1215 时间: 2011-4-2 12:02 标题: [2011]Session18-Reading 74: Alternative Investments-LOS p 习题精选

Session 18: Alternative Investments
Reading 74: Alternative Investments

LOS p: Discuss the role of commodities as a vehicle for investing in production and consumption.

Money managers and individual investors can indirectly participate in the commodities market through all of the following investment vehicles EXCEPT:

A)
futures contracts.

B)
stocks of companies producing a commodity.

C)
trading commodities in small denominations.

Trading the commodities themselves is direct participation. Investors can participate indirectly though futures contracts or certain commodity-linked equities.

作者: 1215 时间: 2011-4-2 12:02

While discussing the role of commodities as a vehicle for investment, a commentator makes the following statements:

Statement 1: During economic expansions, increasing supply tends to reduce the price of commodities.

Statement 2: Investing in commodities can give the investor exposure to fluctuations in production and consumption.

Are these two statements CORRECT?

Statement 1

Statement 2

A)

Correct Correct

B)

Incorrect Incorrect

C)

Incorrect Correct

Statement 1 is incorrect. During expansions, increasing demand for finished goods causes an increase in demand for the commodities needed to produce them, resulting in higher prices for commodities. Statement 2 is correct. Commodities can give an investor exposure to the economy’s production and consumption growth, with swings in commodity prices likely to be larger than changes in finished goods prices.

作者: luqian55 时间: 2011-9-30 16:20

thanks a lot

欢迎光临 CFA论坛 (http://forum.theanalystspace.com/)