问一道题：NO.PZ201601050100000205 第5小题

NO.PZ201601050100000205 问题如下 5. Baseon Exhibit 2, the currenoverlprogrmost appropriate for BrauntPensionskasse woul A.fully passive. B.allow limiterectionviews. C.actively manage foreign exchange asset class. B is correct.BrauntPensionskasse provis the manager with limitescretion in managing the portfolio's currenrisk exposures. This woulmost consistent with allowing the currenoverlmanager to take rectionviews on future currenmovements (within prefineboun) where the currenoverlis limiteto the currenexposures alrea in the foreign asset portfolio. It woulnot appropriate to use a fully-passive heing approasinit wouleliminate any alpha from currenmovements. Further, a currenoverlprogram, whiconsirs -foreign exchange asset class-, woullikely expose Braunt's portfolio to more currenrisk thsiregiven the given primary performanobjectives.A is incorrebecause a rectionview currenoverlprogris most appropriate given the limitescretion BrauntPensionskasse hgiven the manager. A fully passive currenoverlprogris more likely to usewhen a client seeks to hee all the currenrisk.C is incorrebecause a rectionview currenoverlprogris most appropriate given the limitescretion BrauntPensionskasse hgiven the manager. In contrast, the concept of -foreign exchange asset class- allows the currenoverlmanager to take currenexposure positions in any currenpair where there is value-aeto harveste中文解析根据表格2中关于Braunt的描述，他是有一定的风险容忍度的，并且允许上下5%的偏离幅度，即并不是完全的别动管理，也不是将其作为一项单独的资产进行完全的主动管理，只有B是正确的。 题干the currenoverlprogrmost appropriate for BrauntPensionskasse ，说的是外包的做法，这是active的管理，但是Br只允许范围内的改变，这是不是冲突了？