想确认一下，关于fundamental 和macroeconomic factor model，是不是都只是适用于active management？不能是passive

问题如下：

5. Is Lam’s comment regarding statistical factor models correct?

选项：

Yes

No, because he is incorrect with respect to interpretation of the models’ results

No, because he is incorrect with respect to the models’ assumptions

解释：

B is correct.

An advantage of statistical factor models is that they make minimal assumptions. However, the interpretation of statistical factors is generally more difficult than the interpretation of macroeconomic and fundamental factor models.

考点：Statistical factor model

解析：统计因子模型的优点是假设少，缺点是因子很难解释。本题可以当做结论来记。