NO.PZ2022122701000021
问题如下：
An analyst notes that the fixed-income portfolio manager has strong
views about the effects of macroeconomic factors on credit markets and follows
a top-down investment process. According to this, the most appropriate risk
attribution approach for the fixed-income manager is to:
选项：
A.
decompose historical returns into a top-down factor framework.
B.
evaluate the marginal contribution to total risk for each position.
C.
attribute tracking risk to relative allocation and selection decisions.
解释：
Correct Answer: C
The portfolio is managed against a benchmark, which indicates a relative-risk type of risk attribution analysis. For a top-down investment approach, the analysis should attribute tracking risk to allocation and selection decisions relative to the benchmark.
因为题干里完全没写relative…
