budgting

问题如下：

Risk budgeting most likely:

选项：

A.limits the cost of hedging a portfolio. B.can be defined by a measure such as beta or scenario loss. C.focuses on the appetite for risk and what exposures are acceptable.

解释：

Risk budgeting quantifies and allocates the tolerable risk according to specific metrics. A risk budget can be multidimensional or a simple, one-dimensional risk measure, such as standard deviation, beta, value at risk, or scenario loss, among others.A is incorrect. Limiting the amount invested for hedging purposes is not a result of a market-benchmarked choice of risk intensity.C is incorrect. Risk tolerance focuses on the appetite for risk.