NO.PZ201710200200000108
问题如下：
8. Raye’s approach to rebalancing global equities is consistent with:
选项：
A.the Laws’ being risk averse.
B.global equities’ having higher transaction costs than other asset classes.
C.global equities’ having lower correlations with other asset classes.
解释：
B is correct.
Using the cost–benefit approach, higher transaction costs for an asset class imply wider rebalancing ranges. Raye’s recommendation for a wider rebalancing range for global equities is consistent with the presence of higher transaction costs for global equities.
考点：rebalancing range
解析：导致wider rebalancing range的因素有： higher transaction cost，less risk-averse investor, more correlated assets。A和C描述反了，所以正确选项为B。
导致rebalancing range 变动原因明白，但是题干中哪里可以得出global equities 的交易成本比另外资产类型要高，所以需要wider range 呢？
