2008 CFA Level 1 － Sample 样题(1)－Q58 class, black

8586

58、Portfolios located to the right of the market portfolio on the capital market line are:

A. lending portfolios.

B. low-risk portfolios.

C. borrowing portfolios.

D. equivalent to a long position in both the risk-free asset and the market portfolio.

      

[此贴子已经被作者于2008-11-7 15:04:59编辑过]

8586

Correct answer = C

"An Introduction to Asset Pricing Models," Frank K. Reilly and Keith C. Brown
2008 Modular Level I, Vol. 4, pp. 257-259
Study Session 12-51-b
identify the market portfolio, and describe the role of the market portfolio in the formation of the capital market line (CML)
The only way an investor can achieve a portfolio to the right of the market portfolio is to borrow at the risk-free rate and invest the proceeds in the market portfolio; 100% of the investor's wealth plus the borrowed funds are invested in the market portfolio. 

 

cxz0858

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louzhuqued

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samsam519

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Riverview

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刀剑如梦

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gening

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