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CFA 每日一练—LEVEL I 定量分析
1. The liquidity premium can be best described as compensation to investors for the:
A. risk of loss relative to an investment’s fair value if the investment needs to be converted to cash quickly.
B. increased sensitivity of the market value of debt to a change in market interest rates as maturity is extended.
C. possibility that the borrower will fail to make a promised payment at the contracted time and in the contracted amount.
2. The following table shows the volatility of a series of funds that belong to the same peer group, ranked in ascending order:
The value of the first quintile is closest to: A. 10.70%. B. 10.84%. C. 11.09%
Answers：
1.A is correct. “The liquidity premium compensates investors for the risk of loss relative to an investment’s fair value if the investment needs to be converted to cash quickly.” 2.
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