NO.PZ2019012201000055
问题如下：
Leeter then uses a firm-generated brochure (Exhibit 1) to inform Clickman about some otherpotential funds that may interest him.
Exhibit 1 Funds inBrochure
Leeter states thatalthough Altitude Funds and Pioneer Funds both use P/Es in their strategies,both funds incorporate a growth strategy.
UsingExhibit 1, Leeter’s statement about Altitude Funds and Pioneer Funds ismost likely:
选项：
A.
correct
B.
incorrect in regard to Altitude Funds
C.
incorrect in regard to Pioneer Funds
解释：
The statement isincorrect in regard to Pioneer Funds but is correct in regard to AltitudeFunds. Pioneer Funds uses a relative value strategy (i.e., seeks under-priced securitiesrelative to an industry value benchmark) that has no aspects of a growthstrategy.
Altitude Fundsuses a hybrid of value strategies (use of P/E) and growth strategies (use offorward EPS) known as GARP (growth at a reasonable price).
A is incorrect.The statement is incorrect in regard to Pioneer Funds but is correct in regardto Altitude Funds. Pioneer Funds uses a relative value strategy (i.e., seeksunder-priced securities relative to an industry value benchmark) that has noaspects of a growth strategy.
B is incorrect.The statement is incorrect in regard to Pioneer Funds but is correct in regardto Altitude Funds. Altitude Funds uses a hybrid of value strategies (use ofP/E) and growth strategies (use of forward EPS) known as GARP (growth at areasonable price).
我觉得第二个也不是GARP吧，GARP是PE除以g吧，不是除以eps呢。第三个能算growth吗？还是综合growth和那个国家的选择呢？
