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circle · 2024年09月19日

老师，这道题可以直接排除法选money吗，g和t是一样的.

  1. CFA I
  2. Quantitative

NO.PZ2023052302000006

问题如下：

A fund receives investments at the beginning of each year and generates returns for three years as follows:


Which return measure over the three-year period is negative?

选项：

A.

Geometric mean return

B.

Time-weighted rate of return

C.

Money-weighted rate of return

解释：

C is correct. The money-weighted rate of return considers both the timing and amounts of investments into the fund. To calculate the money-weighted rate of return, tabulate the annual returns and investment amounts to determine the

cash flows.


Solving for IRR results in a value of IRR = −2.22 percent.

Note that A and B are incorrect because the time-weighted rate of return (TWR) of the fund is the same as the geometric mean return of the fund and is positive:


所以，我就直接选m（不知道算取巧不）

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1 个答案

品职助教_七七 · 2024年09月19日

嗨，努力学习的PZer你好：


可以的。考试如果有类似的情况也这样做，可以直接快速选出答案。

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努力的时光都是限量版，加油！

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