FRM真题练习，备考中需要重点掌握！

发布时间：2021-05-31 09:22编辑：融跃教育FRM

很多FRM学员还不知道FRM真题的重要性，考前进行FRM真题练习是有很大效果的。FRM真题练习，备考中需要重点掌握！今天融跃小编给大家带来FRM真题每日一练！

Regarding of the following strategies to harvest illiquidity premiums, which one is most likely a passive strategy?

A) Choosing the most illiquid assets within an asset class, even if the asset class is generally considered to be liquid.》》》戳：免·费领取FRM各科视频讲义+历年真题+21年原版书（PDF版）

B) Using dynamic factor strategies at the aggregate portfolio level.

C) Acting as a market maker for individual securities.

D) Allocating a portion of a portfolio to illiquid asset classes.

答案：D

解析：There are four primary ways that investors can harvest illiquidity premiums:

1. Allocating a portion of the portfolio to illiquid asset classes like real estate (i.e., this is a passive allocation to illiquid asset classes).

2. Choosing more illiquid assets within an asset class (i.e., liquidity security selection).

3. Acting as a market maker for individual securities.

4. Engaging in dynamic factor strategies at the aggregate portfolio level. This means taking long positions in illiquid assets and short positions in liquid assets to harvest the illiquidity risk premium.【资料下载】点击下载FRM二级思维导图PDF版

Of the four ways investors can harvest illiquidity risk premiums, this is the easiest to implement and can have the greatest effect on portfolio returns.

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