CFA2级 mock25的27 47 59 accounting, experience, management, percentage, following

towardsutopia21

27. Dexter's concern regarding TML's management reflects each of the following risk areas
except:
A. asset risk.
B. liability risk.
C. accounting risk.
A和B好象没看到过..是不是就单纯指对资产和负债带来的风险?

47题:
Statement 1: If short‐term interest rates rise, Arc Holdings is more likely to experience cash flow
problems because they have a higher percentage of reset notes. 能解释下为什么错误吗?cash flow
problems到底跟什么有关?

Percentage of Total Debt          Arc Holdings                  Tadd Group
Bank Debt                               10%                               40%
Unsecured Reset Notes            20%                                 0%
Senior Debt                            15%                                20%
Senior Zero Coupon Bonds      15%                                 0%
Subordinated Debt                  40%                                 40%


59题 B为什么不对? TotalFactor不是Portfolio T更大吗? 另外industry neutral 是怎么判定的?
Based on the analysis reported in Exhibit 3, the most appropriate conclusion regarding the
active risk analysis of the two portfolios is that:
A. Portfolio S assumed more active factor risk than Portfolio T.
B. Portfolio T earned a higher return from active factor selection.
C. Portfolio T was industry neutral compared to the benchmark portfolio

Portfolio           Industry             Risk Indexes    TotalFactor      Active Specific Active Risk Squared
S                    10.0 (28%)          12.0 (33%)     22.0 (61%)    14 (39%) 36
T                     2.0 (5%)             26.0 (65%)     28.0 (70%)     12 (30%) 40