최신 ICWIM 무료덤프 - CISI International Certificate in Wealth & Investment Management

문제1

For what reason is holding bearer shares potentially disadvantageous?

A. Because it is not possible to sell part of the holding

B. Investors prefer not being publicly named on a share register

C. The loss of the certificate might equal loss of the person's investment

D. They are more difficult to value

정답: C

설명: (DumpTOP 회원만 볼 수 있음)

문제2

Ex-ante security attribution seeks to identify:

A. Why the portfolio performed the way it did

B. Portfolio outperformance

C. An appropriate benchmark

D. Future risks

정답: D

설명: (DumpTOP 회원만 볼 수 있음)

문제3

The return on a whole-of-life unit-linked policy is:

A. Dependent on prevailing interest rates

B. Directly related to the performance of the insurance company's fund

C. Related to the Consumer Price Index (CPI)

D. Linked to the rate of inflation

정답: B

설명: (DumpTOP 회원만 볼 수 있음)

문제4

An economy with two consecutive quarters of negative growth is considered to be in what phase of an economic cycle?

A. Inflationary

B. Recession

C. Depression

D. Slump

정답: B

설명: (DumpTOP 회원만 볼 수 있음)

문제5

Performance attribution analysis attempts to explain why a portfolio had a certain return. It does so by breaking down performance based on the decisions made by the fund manager in which of the following?

A. Asset allocation alone

B. Asset allocation and sector choice only

C. The combination of asset allocation, sector choice, and security selection

D. The combination of asset allocation, sector choice, security selection, and risk analysis

정답: C

설명: (DumpTOP 회원만 볼 수 있음)

문제6

Assuming an upward-sloping yield curve that does not change, how can a fund manager profit from buying a longer-dated bond?

A. The yield will rise as the bond gets closer to maturity, so the bond can be sold for a profit

B. The yield will fall as the bond gets closer to maturity, so the bond can be sold for a profit

C. As time passes, the yield and price of the purchased bond will rise

D. The gross redemption yield will rise on the purchased bond as maturity nears

정답: B

설명: (DumpTOP 회원만 볼 수 있음)

문제7

Typically, inflation is calculated by a central bank based on:

A. A survey of leading banks

B. The prices of important commodities

C. A basket of goods

D. The rate of change of interest rates

정답: C

설명: (DumpTOP 회원만 볼 수 있음)

문제8

A manufacturing company has increased its level of output to the point where marginal costs start to exceed average total costs. What does this indicate?

A. Variable costs are now negligible

B. Fixed costs are likely to fall

C. Productive capacity is constrained

D. The market has become saturated

정답: C

설명: (DumpTOP 회원만 볼 수 있음)

문제9

A defined benefit pension scheme gives an employee the advantage of:

A. Being index-linked to inflation

B. Knowing what income will be received in retirement

C. Not having to make any contributions

D. Consistently better investment performance

정답: B

설명: (DumpTOP 회원만 볼 수 있음)

문제10

In economics, costs are defined as:

A. Financial

B. Opportunity

C. Minimum efficient scale (MES)

D. Normal profit

정답: B

설명: (DumpTOP 회원만 볼 수 있음)

최신 ICWIM 무료덤프 - CISI International Certificate in Wealth & Investment Management

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