1.) Based on Exhibit 1, which investment manager most likely meets the criteria established
in the endowment's investment policy statement?
A. Manager B
B. Manager C
C. Manager A
Answer = A
"Equity Portfolio Management," Gary L. Gastineau, Andrew R. Olma, and Robert G.
Zielinski
Sections 3, 5.1.4
Manager B has a positive information ratio, demonstrating that he has been able to
deliver active returns relative to his level of tracking error. Manager B's investment style
is consistent with a value investment style, with a higher beta for the two value
indices—the small-cap value index and the large-cap value index.
Bạn đang xem 1. - CFA MOCK EXAM LEVEL III MOCK EXAM VERSIONB ANSWERS 2014
