NO.PZ2020042003000003
问题如下：
Which of the following statement is notcorrect?
选项：
A. If we can sell or buy assets quickly withoutmoving the price, we could say that the funding liquidity risk is low.
B. T-bill is a good substitute for cash, so it isquite liquid
C. If the transaction market for asset A isilliquid, investors would require a higher expected return from asset A.
D. Fundingliquidity can be put at risk because the borrower’s credit quality is, or at leastperceived to be, deteriorating, but also because financial conditions as awhole are deteriorating.
解释：
考点：对Liquidity risk的概念理解
答案：A选项表述正确，本题选A。
解析：
A选项描述错误，A选项描述的情况对应的是：Transaction liquidity risk is low.
B选项描述正确，An asset issaid to be liquid if it is “near” or a good substitute for cash. T-Bill的流动性非常好，可以理解为现金等价物。
C选项描述正确，如果资产A的流动性较差，投资者会要求一个更高的回报率以补偿较差的流动性（Liquidity premium）。An asset is said to havea liquidity premium if its price is lower and expected return higher because itisn’t perfectly liquid
D选项描述正确，当Borrower的信用质量变差时，融资会变得困难，因此会产生Funding liquidity risk。
d选项怎么翻译呀 整个句子不是特别理解 不知道考点是什么 特别是put at risk
