问题如下图：
老师，题目啥意思呀，不知道考啥，能帮忙翻译一下不，谢谢啦
选项：
A. 
B. 
C. 
解释：
包包_品职助教 · 2019年10月14日
同学你好，这道题目是想考查goal-based approach。因为是采用goal-based approach 的投资方法来完成她的慈善目标，这个方法的特点是：基金经理先确定客户的目标，为每个目标分配所需的资金。然后，经理对 每个目标的投资组合 根据mean–variance optimization做资产配置 ，而不是在总体投资组合级别根据mean variance 最优化做配置。最终使得目标投资组合被优化到一个指定的最大波动水平或一个特定的成功概率。
在这道题目里面，题目说A同学对N同学的资产配置是基于什么？那就是基于一个指定的最大波动水平或者特定的成功概率。A选项正确。B选项不正确是因为它说是基于总的portfolio的mean–variance optimization efficency，这个不对，它是基于针对慈善目标的这个组合的mean–variance optimization efficiency，而不是基于她所有的资产的总的portfolio。
这里我也贴下原版书上对于goal based approach 的介绍
IIIIIIIIIIIIIIIIII · 2019年11月12日
这条答案应该直接放在习题下作中文解释
包包_品职助教 · 2019年11月12日
嗯嗯，感谢同学的肯定，后续我加进去哈
F · 2019年11月18日
nice explaination
NO.PZ2018091705000101 问题如下 Açor reviews a recent risk toleranquestionnaire completeNjau, whirelates to overall portfolio risk. Açor focuses on the type of capitsufficienanalysis to perform for Njau. To termine the optimallocation, Açor seeks to ensure thNjau’s charitable plee cmet animplements a goal- baseinvesting approach. Açor runs a Monte Carlo simulation to termine the probability of success, whiis the likelihoothNjcmeet her charitable plee objective. The simulation results are presentein Exhibit 2.Açor’s portfolio allocation for Njis most likely optimizeon the basis of: A.a statemaximum level of volatility. totportfolio mean–varianefficiency. the results of the risk toleranquestionnaire. A is correct. Açor uses the goal- baseinvesting approaallocating with a focus on Njau’s charitable plee to Uamini. With this metho she seeks to optimize Njau’s portfolio so ththe plee goha high probability of being met. Açor will set asi a requireamount of fun to invest, ana mean–varianoptimization will run specifically for thportion of Njau’s portfolio. The fun will investeto a statemaximum level of volatility to meet the charitable nee 请问为什么不选择C呢？基于客户的风险承受问卷来模拟蒙特卡洛表？
NO.PZ2018091705000101问题如下 Açor reviews a recent risk toleranquestionnaire completeNjau, whirelates to overall portfolio risk. Açor focuses on the type of capitsufficienanalysis to perform for Njau. To termine the optimallocation, Açor seeks to ensure thNjau’s charitable plee cmet animplements a goal- baseinvesting approach. Açor runs a Monte Carlo simulation to termine the probability of success, whiis the likelihoothNjcmeet her charitable plee objective. The simulation results are presentein Exhibit 2.Açor’s portfolio allocation for Njis most likely optimizeon the basis of: A.a statemaximum level of volatility. totportfolio mean–varianefficiency.the results of the risk toleranquestionnaire. A is correct. Açor uses the goal- baseinvesting approaallocating with a focus on Njau’s charitable plee to Uamini. With this metho she seeks to optimize Njau’s portfolio so ththe plee goha high probability of being met. Açor will set asi a requireamount of fun to invest, ana mean–varianoptimization will run specifically for thportion of Njau’s portfolio. The fun will investeto a statemaximum level of volatility to meet the charitable nee为什么不选择B？什么情况选B？
NO.PZ2018091705000101 问题如下 Açor reviews a recent risk toleranquestionnaire completeNjau, whirelates to overall portfolio risk. Açor focuses on the type of capitsufficienanalysis to perform for Njau. To termine the optimallocation, Açor seeks to ensure thNjau’s charitable plee cmet animplements a goal- baseinvesting approach. Açor runs a Monte Carlo simulation to termine the probability of success, whiis the likelihoothNjcmeet her charitable plee objective. The simulation results are presentein Exhibit 2.Açor’s portfolio allocation for Njis most likely optimizeon the basis of: A.a statemaximum level of volatility. totportfolio mean–varianefficiency. the results of the risk toleranquestionnaire. A is correct. Açor uses the goal- baseinvesting approaallocating with a focus on Njau’s charitable plee to Uamini. With this metho she seeks to optimize Njau’s portfolio so ththe plee goha high probability of being met. Açor will set asi a requireamount of fun to invest, ana mean–varianoptimization will run specifically for thportion of Njau’s portfolio. The fun will investeto a statemaximum level of volatility to meet the charitable nee 如题。是通过monte carol来进行目标的达成概率测算么，mvo应该也可以？只不过题中用的是monte carol？
NO.PZ2018091705000101 问题如下 Açor reviews a recent risk toleranquestionnaire completeNjau, whirelates to overall portfolio risk. Açor focuses on the type of capitsufficienanalysis to perform for Njau. To termine the optimallocation, Açor seeks to ensure thNjau’s charitable plee cmet animplements a goal- baseinvesting approach. Açor runs a Monte Carlo simulation to termine the probability of success, whiis the likelihoothNjcmeet her charitable plee objective. The simulation results are presentein Exhibit 2.Açor’s portfolio allocation for Njis most likely optimizeon the basis of: A.a statemaximum level of volatility. totportfolio mean–varianefficiency. the results of the risk toleranquestionnaire. A is correct. Açor uses the goal- baseinvesting approaallocating with a focus on Njau’s charitable plee to Uamini. With this metho she seeks to optimize Njau’s portfolio so ththe plee goha high probability of being met. Açor will set asi a requireamount of fun to invest, ana mean–varianoptimization will run specifically for thportion of Njau’s portfolio. The fun will investeto a statemaximum level of volatility to meet the charitable nee 请问B错在哪里？
NO.PZ2018091705000101 问题如下 Açor reviews a recent risk toleranquestionnaire completeNjau, whirelates to overall portfolio risk. Açor focuses on the type of capitsufficienanalysis to perform for Njau. To termine the optimallocation, Açor seeks to ensure thNjau’s charitable plee cmet animplements a goal- baseinvesting approach. Açor runs a Monte Carlo simulation to termine the probability of success, whiis the likelihoothNjcmeet her charitable plee objective. The simulation results are presentein Exhibit 2.Açor’s portfolio allocation for Njis most likely optimizeon the basis of: A.a statemaximum level of volatility. totportfolio mean–varianefficiency. the results of the risk toleranquestionnaire. A is correct. Açor uses the goal- baseinvesting approaallocating with a focus on Njau’s charitable plee to Uamini. With this metho she seeks to optimize Njau’s portfolio so ththe plee goha high probability of being met. Açor will set asi a requireamount of fun to invest, ana mean–varianoptimization will run specifically for thportion of Njau’s portfolio. The fun will investeto a statemaximum level of volatility to meet the charitable nee 同上