NO.PZ2018091705000101
问题如下：
Açor reviews a recent risk tolerance questionnaire completed by Njau, which relates to overall portfolio risk. Açor focuses on the type of capital sufficiency analysis to perform for Njau. To determine the optimal allocation, Açor seeks to ensure that Njau’s charitable pledge can be met and implements a goal- based investing approach. Açor runs a Monte Carlo simulation to determine the probability of success, which is the likelihood that Njau can meet her charitable pledge objective. The simulation results are presented in Exhibit 2.
Açor’s portfolio allocation for Njau is most likely optimized on the basis of:
选项：
A.a stated maximum level of volatility.
B.total portfolio mean–variance efficiency.
C.the results of the risk tolerance questionnaire.
解释：
A is correct. Açor uses the goal- based investing approach by allocating with a focus on Njau’s charitable pledge to Udhamini. With this method, she seeks to optimize Njau’s portfolio so that the pledge goal has a high probability of being met. Açor will set aside a required amount of funds to invest, and a mean–variance optimization will be run specifically for that portion of Njau’s portfolio. The funds will be invested to a stated maximum level of volatility to meet the charitable need.
B选项我知道一定是不选的;AC选项，我选择C的原因是，因为题目是说A同学要进行goalbased,那么基于客户的目标，也一定是基于了客户所呈现的“六大元素”，问卷可以达到这样的效果，问卷也是要问清楚，目标、风险忍容度、投资期、流动性偏好、各类投资偏好、限制等等，为何不选C？
