NO.PZ2018120301000005
问题如下：
Margit asks Cécile to analyze liability-based mandates for a meeting with Villash Foundation. Villash Foundation is a tax-exempt client. Prior to the meeting, Cécile identifies what she considers to be two key features of a liability-based mandate.
- Feature 1: It matches expected liability payments with future projected cash inflows.
- Feature 2: It can minimize the risk of deficient cash inflows for a company
选项：
A.Yes
No, only Feature 1 is correct
No, only Feature 2 is correct
解释：
A is correct. Liability-based mandates are investments that take an investor’s future obligations into consideration. Liability-based mandates are managed to match expected liability payments with future projected cash inflows. These types of mandates are structured in a way to ensure that a liability or a stream of liabilities can be covered and that any risk of shortfalls or deficient cash inflows for a company are minimized.
