greenturtle

回复 310# reonade


    1, analyst work at home.... 不违反
2, compliance manager: 违反没及时沟通
3, one analyst give low-risk, after research (medium risk), still give low-risk。 violate reasonable base?
4, proxy voting: 该disclose给潜在客户
5, restricted list: 不违反?
6,只给客户介绍高收益的bond fund, 违反suitability.
7, 离职了，开新公司，present以前的业绩，即使经过公司同意. 违反，完全不能present以前的业绩？

1.不违反，书上有
2.一样
3.一样
4.一样
5.选的应该disclose
6.我居然选了misrepresentation，汗啊
7.即使前雇主同意也是违反，她只manage了5年，而performance history有8年

dmy949

回复  jackchou


    65%就已经pass。话说我2级的时候成绩出来比我预期还低点，应该也就65%还是pass了，  ...
antel 发表于 2012-6-6 18:05

     這個的卻沒錯，大家一直在討論的都集中在那個alternative investment上，實際上也就18分（5%)而已。如果之前的Wealth mgt和institute做的好的，抵上這個好多。

不過話説回來，個人覺得CFAI出題目真的挺偏，institute按照past paper我以爲會挑兩個type來做，結果全部都是pension和linking pension L to A的問題。 Fixed income也是，明明好多東西考的，如contigent immunization, bond risk exposure, horizon reture什麽的，他就全放在MBS上。Derivative就全部都是option，連他自己最愛的swap都沒有。

greenturtle

回复 314# antel


then  the answer should be 0

wangshuoyuan

就我一个人觉得简单么..................

wangshuoyuan

回复 289# etiennechi


   年收益除以250天把年度STD处以250的平方根，然后日平均收益减去2.33个日STD,然后还要两部分VAR的平方和那个2 VAR1*VAR2*correlation

delryn

回复 320# wangshuoyuan


    这个解法是从书上或者notes上哪里来的，肿么从来没有看到过哟

dmy949

回复  etiennechi


   年收益除以250天把年度STD处以250的平方根，然后日平均收益减去2.33个日STD,然后还 ...
wangshuoyuan 发表于 2012-6-6 19:34

    I think this is quite a innovative way in calculating portfolio var. However, I'm thinking that you might have to weigh each individual var by taking the power of their respective weights, which is pretty much like the way calculating portfolio standard deviation.

tt501916

回复 271# CFANS



Anyway. my point is there must be someone who are happy with "unexpected inflation". Financial market is always a zero sum game.
If you lose because you fail to the protect (or "hedge" in your terms) for inflation, there must be someone in this world whose profit is positive.

you expect an "unexpected inflation" so you buy something with positive correlation, then you are just increasing your leverage but not hedge.
I have quoted so many examples, but you dare not to drill into the definition of "hedge".

In fact, the term "unexpected" has given you some hint.

FiFi49

那个个人Ips的Required rate 不用争了，不需要扣除club expense，因为已经包含在normal expense中了，哎，起码5分甚至6分的题目啊。奶奶cfa，这么高强度的考试还设置文字陷阱。


请教一个问题，看了一下前面的讨论，看到有同学说那个higheast weight 是nominal bond，最低是equity，为什么？有没有人说明一下又或者有持其他意见的同学？

greenturtle

回复 322# delryn


   这个解法貌似我在最后几天做题的时候碰到过，这样解是对的