105. The duration of a fixed-income portfolio is best interpreted as the:
A. first derivative of the price function for the bonds in the portfolio.
B. percentage change in the portfolio’s value if interest rates change by 100 basis
points.
C. weighted average number of years to receive the present value of the
portfolio’s cash flows.
By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to
currently-registered CFA candidates. Candidates may view and print the exam for personal exam
preparation only. The following activities are strictly prohibited and may result in disciplinary and/or legal
action: accessing or permitting access by anyone other than currently-registered CFA candidates; copying,
posting to any website, emailing, distributing and/or reprinting the mock exam for any purpose.
Bạn đang xem 105. - CFA MOCK EXAM LEVEL I MOCK EXAM MORNING 2009