答案和详解如下： Q7. An investor owns the following three-stock portfolio today. Stock
Market Value
Expected Annual Return
K $4,500 14% L $6,300 9% M $3,700 12% The expected portfolio value two years from now is closest to: A) $16,150. B) $17,975. C) $17,870. Correct answer is B) The easiest way to approach this problem is to determine the value of each stock two years in the future and to sum up the total values of each stock. Stock
| Market Value × | Expected Annual Return | = Total
| K | $4,500 × | 1.14 × 1.14 | = 5,848.20 | L | $6,300 × | 1.09 × 1.09 | = 7,485.03 | M | $3,700 × | 1.12 × 1.12 | = 4,641.28 |
|
| Total | = 17,974.51 |
An investor owns the following three-stock portfolio. Stock | Market Value | Expected Return | A | $5,000 | 12% | B | $3,000 | 8% | C | $4,000 | 9% |
Q8. The expected return is closest to: A) 10.00%. B) 29.00%. C) 9.67%. Correct answer is A) To calculate this result, we first need to calculate the portfolio value, then determine the weights for each stock, and then calculate the expected return. Portfolio Value: = sum of market values = 5,000 + 3,000 + 4,000 = 12,000 Portfolio Weights: WA = 5,000 / 12,000 = 0.4167 WB = 3,000 / 12,000 = 0.2500 WC = 4,000 / 12,000 = 0.333 Expected Return ERportfolio = S(ERstock)(W% of funds invested in each of the stocks) ER = wAERA + wBERB + wCERC, where ER = Expected Return and w = % invested in each stock. ER = (0.4167 × 12.0) + (0.2500 × 8.0) + (0.333 × 9.0) = 10.0% | 
发表于 2009-1-22 10:22
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