CFA二級(jí)考試不像CFA一級(jí)是簡(jiǎn)單的單選題，考試題干是小閱讀型的考試，在備考CFA考試時(shí)需要考生掌握CFA英文，那在Investment Strategies 投資策略中的知識(shí)是不是掌握了呢？看看以下考試題如何做？


【例題】Stux (1994) describes a country allocation strategy across five major equity markets: the United States, the United Kingdom, Germany, France, and Japan. In this strategy, a measure of relative attractiveness among the five equity markets is used as a factor in determining the weights of the five equity markets in the overall portfolio. The investment in each country, however, whatever the country’s weight, is an indexed investment in the equity market of that country. The weights of the five equity markets in the overall portfolio generally are expected to differ from benchmark weights (the weights of the countries in an appropriate benchmark for the international equity market), within limits.

問(wèn)題1：Characterize the two components (portfolio weights and within-country investments) of the country allocation strategy using the text’s framework for classifying investment strategies.

問(wèn)題2：Characterize the country allocation strategy overall.

答案1：The country allocation strategy as described mixes elements of active and passive investment approaches. The portfolio weights are actively determined and differ from benchmark weights, within limits. However, the investments in individual countries are passive, indexed investments.

解析：在單獨(dú)國(guó)家內(nèi)的投資是被動(dòng)投資，即指數(shù)投資。在不同國(guó)家股權(quán)投資的權(quán)重依于不同國(guó)家股權(quán)市場(chǎng)的吸引力而定的，和基準(zhǔn)的權(quán)重不同，因此是主動(dòng)管理的。

答案2：Overall, we can classify the country allocation strategy as a semiactive or controlled-active investment approach.

解析：總體來(lái)說(shuō)，該資產(chǎn)配置的策略是半主動(dòng)型的投資方式。

這就是CFA二級(jí)考試題，解答也告訴你了，不知道你是不是掌握了CFA考試知識(shí)呢？是不是需要練習(xí)CFA呢？這邊有CFA一二級(jí)模擬機(jī)考測(cè)試，有需要可以在線咨詢！