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Yan · 2021年09月07日

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NO.PZ201511190100001003

问题如下:

King prepares for a meeting with Lani Mikaele, a client who founded a successful, fast-growing business that has made her wealthy. Unlike many other clients, Mikaele is very involved in the decision-making process with King. She calls King often to suggest purchasing and selling positions, resulting in a higher turnover rate relative to other clients. 

At a business lunch last year, King recommended that Mikaele purchase shares of Withrow Inc., which has high growth potential but pays no dividends. Following their discussion, Mikaele was enthusiastic about the potential returns, so she followed King’s recommendation and bought Withrow shares.


Determine the BIT (PP, FF, II, AA) most likely to be assigned to Mikaele.(circle one)

Passive Preserver

Friendly Follower

Independent Individualist

Active Accumulator


Justify your response.


选项:

解释:

Active Accumulator


Mikaele is most likely to be classified as an Active Accumulator (AA).

●Mikaele is actively involved in the investment decision-making process.

●Mikaele exhibits a high risk tolerance as evidenced by her founding of a successful fast-growing business.

●Mikaele has a high net worth resulting from the success of her business, a characteristic of the AA.

●Mikaele’s account exhibits a high turnover rate relative to other clients.

Mikaele is most likely to be classified as an Active Accumulator (AA). She is heavily involved in the investment management process. Mikaele exhibits a high-risk tolerance, evidenced by her founding a successful fast-growing business, and has accumulated significant wealth. Additionally, Mikaele’s account has a relatively high turnover rate. These are all characteristics of an AA. 


标黑的四点是得分点么?必须都答到才能得分么?如果只是写了标黑的四点,还需要写下面那一大段的话么?

1 个答案
已采纳答案

王琛_品职助教 · 2021年09月09日

嗨,努力学习的PZer你好:


1)标黑的四点是得分点么?

可以这么理解哈,是参考答案 Guideline answer,由 4 条 bullet points 组成

2)如果只是写了标黑的四点,还需要写下面那一大段的话么?

不需要了,这部分是在解释 guideline answer,并不需要作为正式的答案

3)标黑的四点,必须都答到才能得分么?

建议都写上

解题思路,可以从三个方面考虑:主要区别、特点、顾问建议。重点是在咱们写的 bullet point 中,一定要出现关键词,然后结合题干说明即可

1

第一个方面是投资者分类的三个主要区别,即:投资风格是主动还是被动、风险容忍度、主要偏差

题干涉及的是投资风格和风险容忍度: "founded a successful, fast-growing business that has made her wealthy"

对应第二条 bullet point: "Mikaele exhibits a high risk tolerance as evidenced by her founding of a successful fast-growing business."

我理解这条写上难度不大

2

第二个方面是投资者分类的特点,对应 bullet point 的第一、三、四条。均参考原版书 P54 的正文

第一条

对应正文 "They are often “hands on, ” wanting to be heavily involved in the investment decision-making process."

关键词题干有明确提出:"Unlike many other clients, Mikaele is very involved in the decision-making process with King." 所以这条写上难度不大

第三条

对应正文 "These clients are entrepreneurial and often the first generation to create wealth."

关键词题干有明确提出:"a client who founded a successful, fast-growing business that has made her wealthy" 所以这条写上难度不大

第四条

对应正文 "AAs often have high portfolio turnover rates, which normally is a drag on investment performance."

关键词题干有明确提出:"resulting in a higher turnover rate relative to other clients" 所以这条写上难度不大

3

综上所述:解析共 4 条 bullet point,都是有明确提到的,所以写上难度不大

在考场上,我们可以先回顾投资者分类的三个方面;然后看题干有哪些地方,是明确提到了关键词;然后再回忆一下特点和建议,看还有没有关键词,虽然题干没有明确提到,但是可以通过题干稍作分析,也能作为解释放到 bullet point 中

4)建议

课后题考查投资者分类知识点「主观题」的,只有两道题:16 题和 18 题,分别对应 FF 和 AA

我理解关于这个知识点,可能考「客观题」的概率更大,属于识别判断,根据案例背景,判断属于哪个投资者分类,或者顾问应该怎么建议

主观题可以把课后题看一下,熟悉一下特点,尤其是关键词。因为即使是客观题,咱们在判断的时候,也是会用到关键词的

关于课后题第 16 题,也请参考:https://class.pzacademy.com/qa/81755

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虽然现在很辛苦,但努力过的感觉真的很好,加油!

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