问一道题：NO.PZ2018101501000020

问题如下：

Two analysts are making some suggestions regarding risk analysis.

Amy suggests that we should use company betas instead of project-specific betas when the risk of the project is different from that of the company.

Linda argues that we should choose the portfolio of investments which can maximize the company IRR when rationing capital.

Whose suggestion should we accept?

选项：

Both Amy`s and Linda`s.

Neither Amy`s nor Linda`s.

Only Amy`s.

解释：

B is correct.

考点：Risk Analysis

解析：当项目的风险和公司的风险不同时，我们在求要求回报率的时候，应该采用项目的beta而不是公司的beta，因为项目的beta可以精确反映出项目的风险。所以Amy的说法是错误的。在做资本预算排序时，我们应该以最大化公司NPV为目标，而非最大化公司IRR。因此Linda的说法也是错误的。