NO.PZ2018110601000004
问题如下：
Richard, a junior financial analyst, lists the following asset class specifications.
Equity: US equities and non-US equities
Debt: US investment-grade corporate bonds and real estate
Derivatives: mainly the small-cap domestic equities
As you are Richard’s supervisor, you notice the correlation on asset class returns on equity and derivatives is 0.95, while the asset class returns on debt have a very low correlation with equity and derivative returns.
The asset class specifications for equity and derivatives are incorrect because:
选项：
A.asset classes should be diversifying
B.asset classes should be mutually exclusive
C.asset within an asset class should be relatively homogeneous.
解释：
A is correct.
考点：asset class的分类原则
解析：为了控制风险，资产类型之间的相关性不应当过高。相关性大了，分散化效果就会变差。题干中说equity 和derivatives之间的相关性系数为0.95，所以违反了diversifying这个分类原则。
我感觉他分类的都是错的，Equity 是不是US mkt有很高的重合性。Debt房地产和债券就不应该分在一类， 0.95的相关性说明分散化不足，ABC三个选项好像都有提到
