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LOS f, (Part 1): Discuss the properties of a valid benchmark.
Q1. Which of the following is least likely to be a property of a valid benchmark?
A) The weights of the securities in the benchmark should be based on market values.
B) The benchmark is consistent with the manager’s style.
C) It is possible for the investor to replicate the benchmark.
Q2. One of the properties of a valid benchmark is that it be reflective of current investment opinion. Which of the following is the most accurate explanation of this property?
A) The manager should have knowledge of the securities in the benchmark.
B) The manager should accept the applicability of the benchmark.
C) The securities in the benchmark should be those favored by a majority of analysts.
Q3. Which of the following is NOT regarded to be an essential characteristic of a valid benchmark?
A) Appropriate to the manager’s investment approach and style.
B) Reflective of past investment opinion.
C) Specified in advance. | 
发表于 2009-4-10 13:36
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