fixed income官网习题Pavonia Case Scenario
其中一题，题目相关信息是：
Adams states, “Generally when we evaluate similar situations, we will use a passive, as opposed to an active, management strategy for the fixed-income portfolio, which means the risk of measurement error will be greater than asset liquidity risk.”
问题是：
Is Adams is most likely correct in her assessment of measurement error?
- Yes
- No, because passive management would preclude measurement error
- No, because asset liquidity risk is greater than the risk of measurement error
Solution
A is correct. Measurement error for Asset BPV can arise even in the classic passive immunization strategy for Type I cash flows, which have set amounts and dates. Asset liquidity can become a risk factor in strategies that add active investing to otherwise passive fixed-income portfolios and would not be applicable here.
题干中“the risk of measurement error will be greater than asset liquidity risk”是指什么？可否讲解本题，我没明白问题也没明白答案。。。
