2020年CFA考試《CFA三級》考試共240題，分為單選題。小編為您整理Fixed-Income Portfolio Management (2)5道練習(xí)題，附答案解析，供您備考練習(xí)。

1、Which of the criteria outlined by Alpha is least accurate with respect to the selection of a fixed-income manager?【單選題】

A.Criterion 1

B.Criterion 2

C.Criterion 3

正確答案:B

答案解析:Decomposing a portfolio's historical returns shows whether a manager has skill in security selection. For long periods, when fund fees and expenses are factored in, the realized alpha of fixed-income managers has averaged close to zero with little evidence of persistence.

2、【單選題】

A.underperform.

B.remain stable.

C.outperform.

正確答案:C

答案解析:C is correct. Hirji proposes an extreme bullet portfolio focusing on the middle of the yield curve. If the forecast is correct 

3、【單選題】

A.–2.30%.

B.0.07%.

C.4.60%.

正確答案:C

答案解析:C is correct. The total expected return is calculated as follows:

4、【單選題】

A.Strategy 1

B.Strategy 2

C.Strategy 3

正確答案:B

答案解析:B is correct. In a stable yield curve environment, holding bonds with higher convexity negatively affects portfolio 

5、The weekly volatility of Winslow’s portfolio is closest to:【單選題】

A.0.56%.

B.0.80%.

C.0.63%.

正確答案:B

答案解析: