CFA一级Equity部分-Reading34课后习题及答案.docVIP

Reading 34 Security Market Indexes 1 A security market index represents the: A risk of a security market. B security market as a whole. C security market, market segment, or asset class. SOLUTIONS: 1 C is correct. A security market index represents the value of a given security market, market segment, or asset class. 2 Security market indexes are: A constructed and managed like a portfolio of securities. B simple interchangeable tools for measuring the returns of different asset classes. C valued on a regular basis using the actual market prices of the constituent securities. SOLUTIONS: 2 A is correct. Security market indexes are constructed and managed like a portfolio of securities. -------------------------------------------笔记------------------------------------------------------------- FROM Reading 34-p196 security market indexes have evolved into important multi-purpose tools that help investors track the performance of various security markets, estimate risk, and evaluate the performance of investment managers form the basis for new investment products A security market index represents a given security market, market segment, or asset class. Most indexes are constructed as portfolios of marketable securities. （对应选项A） The value of an index is calculated on a regular basis using either the actual or estimated market prices of the individual securities, known as constituent securities, within the index（对应选项C） 3 When creating a security market index, an index provider must first determine the: A target market. B appropriate weighting method. C number of constituent securities. SOLUTIONS: 3 A is correct. The first decision is identifying the target market that the index is intended to represent because the target market determines the investment universe and the securities available for inclusion in the index. 4 One month after inception, the price return version and total return version of a single index (consisting of identical securities an