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超超 · 2025年01月19日

文章中有说他们是干嘛的吗

  1. CFA III
  2. 个人IPS

* 问题详情，请 查看题干

NO.PZ202301041000002205

问题如下：

The most appropriate response to Boylan’s question about the twins’ relative allocation to high grade bonds is that, when compared to Jason, the proportion in Janice’s investment portfolio should be:

选项：

A.

the same

B.

lower

C.

higher

解释：

Janice is a stock broker specializing in medical technology and her human capital is therefore highly correlated with stock market returns. She should balance this risk by having greater exposure to financial assets that are less risky, i.e., high grade government bonds. Jason’s human capital is less correlated to stock market returns; in addition, his future pension income arising from a defined benefit plan is quite stable. His optimal portfolio should have a greater allocation to the stock market than Janice.

为什么我从上往下翻了好几遍都没看到文章表述。


另外，对于选择了pathway portfolio management方向的来说，这个case的六个小题是不是都可以直接跳过。不确定是某一问在私人财富管理里面还是六问全部都在。

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1 个答案

费费_品职助教 · 2025年01月20日

嗨，努力学习的PZer你好：


同学你好

这道小题考点是个人IPS -life-cycle view of human capital。 有些人的Human capital 是 Bond-like（比如全职员工、工作稳定的公务员、老师等）那么应该多配置权益类资产。有的是Equity-like（比如企业家），那么应该多配置固定收益类资产。


选择了pathway portfolio management方向的来说，这个CASE掌握第2和5即可，考点都是个人IPS的

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相关问题

NO.PZ202301041000002205 问题如下 The most appropriate responseto Boylan’s question about the twins’ relative allocation to high gra bonis that, when compareto Jason, the proportion in Janice’s investmentportfolio shoulbe: A.the same B.lower C.higher Janiis a stockbroker specializing in mectechnology anher humcapitis thereforehighly correlatewith stomarket returns. She shoulbalanthis risk byhaving greater exposure to financiassets thare less risky, i.e., highgra government bon. Jason’s humcapitis less correlateto stockmarket returns; in aition, his future pension income arising from a fineenefit plis quite stable. His optimportfolio shoulhave a greaterallocation to the stomarket thJanice. 老师，请问题目中说Janice和Jason有相同的risk tolerance，这个信息在这儿有用吗？题目中已经体现了Janice的humcapital和pension更加risky，这里的相同risk tolerance是怎么看出来的呢？

2024-06-24 10:49 1 · 回答