NO.PZ2019012201000016
问题如下：
Matt considers using a portfolio construction technique to create index-tracking equity portfolios that can minimize tracking error and costs. All constituents in the benchmark are available for trading and liquid and the asset size of the mandate is sufficient. Which of following methods is most likely to be chosen?
选项：
A.Optimization.
B.Full replication.
C.Stratified sampling.
解释：
B is correct.
考点：Portfolio construction
解析: 当要追踪的指数中的股票流动性好、交易比较容易，那么只要资产规模足够，基金经理会优先选择完全复制的方法。因为该方法会使得追踪误差最低，而且股票流动性好，也说明完全复制情况下交易费用也不会太高。
Full Replication Tracking Error是最低，但Tracking Error U shape说 Security Number越多，tracking error 越高。
Full Replication肯定是3个方法里，Security Number最多的，但为何tracking error也是最低的呢？
