答案和详解如下: 1.Which of the following is not considered to be an investment constraint? A) Liquidity needs. B) Risk tolerance. C) Time horizon. D) Tax concerns. The correct answer was B) An investor’s risk tolerance is included under objectives. Constraints include liquidity needs, time horizon, tax concerns, legal and regulatory factors, and unique circumstances. 2.In which step of the portfolio management process developing an IPS occur? A) Feedback B) Planning. C) Execution. D) Strategic asset allocation. The correct answer was B) Developing an IPS occurs in the planning steps of the process. The purpose of developing an IPS is to govern decision making. 3.Which of the following is not a step in the portfolio management process? A) Execution. B) Feedback. C) Planning. D) Developing an IPS. The correct answer was D) Developing an IPS is a subset of the planning process. 4.Which of the following is not part of the general steps of the portfolio management process? A) Planning. B) Execution. C) Feedback. D) Performance evaluation. The correct answer was D) Performance evaluation is a substep under the feedback process. The three general steps are planning, execution, and feedback, in that order. 5.Which of the following correctly identifies the three main steps in the portfolio management process? A) Objectives, constraints, risk tolerance. B) Planning, asset allocation, security selection. C) Planning, execution, feedback. D) Objectives, asset allocation, feedback. The correct answer was C) The three main steps in the portfolio management process are planning, execution, and feedback. The other items listed are subcomponents of these steps. | 
发表于 2008-5-20 17:16
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