CFA level III essay questions 2016
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CFA level III essay questions 2016
Level HIThe Morning Session of the 2016 Level III CFAr Examination has 10 questions. For grading purposes, the maximum point value for each question i CFA level III essay questions 2016 is equal to the number of minutes allocated to that question.Question TopicMinutes1Portfolio Management -Institutional202Portfolio Management -Fixed Income223Portfolio Management -Equity194Portfolio Management -Asset Allocation135Portfolio Management -Trading, Monitoring, Rebalancing136Portfolio Man CFA level III essay questions 2016 agement -Individual227Portfolio Management -Individual178Portfolio Management -Risk Management209Portfolio Management -Economics1810Portfolio ManagemeCFA level III essay questions 2016
nt -Individual Behavioral16Total:180Page 2THIS PAGE INTENTIONALLY LEFT BLANKMARKS MADE ON THIS PAGE ARE NOT GRADEDLevel IIIQUESTION 1 HAS FOUR PARTS (Level HIThe Morning Session of the 2016 Level III CFAr Examination has 10 questions. For grading purposes, the maximum point value for each question i CFA level III essay questions 2016 1,000.000. The endowment’s only purpose is lo fully fund the library’s annual subscriplion expense for online academic journals. 1 he journals arc considered essential to keep Sopho competitive.Sopho is changing the library’s subscription sen ice to a new provider, rhe provider offers two subscripti CFA level III essay questions 2016 on options as shown in Exhibit I. The administration desires the highest level subscription that the endowment can fund in perpetuity. Mark Madison, aCFA level III essay questions 2016
financial advisor to the endowment’s board, is analyzing the subscription options and reviewing the IPS.Exhibit 1 Summan of Subscription OptionsOptioLevel HIThe Morning Session of the 2016 Level III CFAr Examination has 10 questions. For grading purposes, the maximum point value for each question i CFA level III essay questions 2016 0USD 800.000Inflation plus 1%PremiumUSD 1.000.000USD 1.000.000Inflation plus 1%The objective of the endowment is to fully fund the subscription costs in perpetuity and maintain the purchasing power of the investable asset base after payment of the one-time initiation fee. The endowment’s risk manage CFA level III essay questions 2016 ment practices require Madison to use Monte Carlo simulations to account for return volatility in evaluating the risk of purchasing power erosion. GivCFA level III essay questions 2016
en capital market expectations and the endowment's asset allocation, the expected long-term total return of the endowment is 8.5% per year with an expLevel HIThe Morning Session of the 2016 Level III CFAr Examination has 10 questions. For grading purposes, the maximum point value for each question i CFA level III essay questions 2016 t the spending rate affects risk tolerance, and they are comfortable with an above-average risk exposure. The endowment reinvests any portfolio surplus. No donations are expected in the foreseeable future. Economy-wide inflation is forecast to be 2.0% per year.A. Calculate the return requirement to CFA level III essay questions 2016 fully fund each subscription option. Determine which subscription option is most appropriate for the endowment, given its objective and risk managemenCFA level III essay questions 2016
t practices. Justify your response.Note: Use arithmetic returns, rather than geometric returns, for the return requirement calculations.8 minutes (AnsLevel HIThe Morning Session of the 2016 Level III CFAr Examination has 10 questions. For grading purposes, the maximum point value for each question i CFA level III essay questions 2016 ncreases the endowment's ability to take risk.Note: Restating case facts without additional support will not receive credit.Level HIThe Morning Session of the 2016 Level III CFAr Examination has 10 questions. For grading purposes, the maximum point value for each question iGọi ngay
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