2020年CFA考試《CFA三級(jí)》考試共題，分為。小編為您整理Private Wealth Management (2)5道練習(xí)題，附答案解析，供您備考練習(xí)。

1、Which of Perrin’s statements regarding his pension is/are correct?【單選題】

A.Statement 1 only

B.Statement 2 only

C.Both Statement 1 and Statement 2

正確答案:A

答案解析:A is correct. Unvested pension benefits are typically contingent on future work and are 

2、Which of Adams's and Boshe's comments about counterparty risk is most accurate? The comment made by:【單選題】

A.Adams about the short sale against the box.

B.Boshe about her proposed strategies.

C.Adams about the total return equity swap.

正確答案:A

答案解析:Adams's statement about the short sale against the box is correct because it creates a riskless position. Although the forward conversion with options avoids counterparty risk, the equity forward sale and the total return equity swap use a derivatives dealer and thus include counterparty risk.

3、Which of Boshe's MTL strategies least likely describes a staged exit strategy? MTL Strategy:【單選題】

A.1

B.3

C.2

正確答案:C

答案解析:MTL Strategy 2 is not a staged exit strategy because it does not provide for two specific liquidity events: cash up front and a sale or monetization of the remainder of Richards’s ownership in the future. Strategies 1 and 3 are staged exit strategies that provide for two liquidity events.

4、Which of Molly’s statements about annuities is/are correct?【單選題】

A.Statement 1 only

B.Statement 2 only

C.Both Statement 1 and Statement 2

正確答案:B

答案解析:B is correct. Statement 2 is correct because, all else equal, the income yield is higher 

5、The whole life insurance policy feature described by Lansky is a:【單選題】

A.non-forfeiture 

B.

C.guaranteed insurability rider.

正確答案:A

答案解析:A is correct. The whole life insurance policy feature described is a non-forfeiture clause,