2008 CFA Level 1 － Sample 样题(2)－Q49 black, class

bingning

49、Do hedge funds typically have a(n):

	focus on relative returns?	option-like fee structure?
A.	No	No
B.	No	Yes
C.	Yes	No
D.	Yes	Yes

A. Answer A

B. Answer B

C. Answer C

D. Answer D

[此贴子已经被作者于2008-11-7 13:08:07编辑过]

bingning

49、Do hedge funds typically have a(n):

	focus on relative returns?	option-like fee structure?
A.	No	No
B.	No	Yes
C.	Yes	No
D.	Yes	Yes

A. Answer A

B. Answer B

C. Answer C

D. Answer D

 
Correct answer = B

"Alternative Investments," Bruno Solnik and Dennis McLeavey
2008 Modular Level I, Vol. 6, pp. 207-210
Study Session 18-76-i
discuss the descriptive accuracy of the term "hedge fund," define hedge fund in terms of objectives, legal structure, and fee structure, and describe the various classifications of hedge funds
Hedge funds focus on absolute returns and place specific bets in the search for positive alphas. Because the fee structure includes a small base fee plus an incentive fee proportional to profits, hedge funds have an option-like fee structure.