NO.PZ2019042401000066
问题如下：
A hedge fund manager is concerned about a potential increase in investor redemptions and wants to assess the effects of such an event on the fund’s liquidity. The manager asks a junior analyst to estimate the average number of days required to liquidate certain securities in the fund. The analyst uses the information presented below to make this estimation for four securities:
Which of the four securities listed above is expected to take the longest to liquidate?
选项：
A.Security A
Security B
Security D
Security C
解释：
A is correct. We calculate the liquidity duration (LDi) of each security as shown below:
where;
Qi: Number of shares held in security i
MDV: Maximum daily volume allowed for liquidation of security i (expressed as a percentage of average daily volume)
Vi: Average daily volume of security i
Security A has the highest liquidity duration and will take the longest to liquidate.
如题
