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NEW QUESTION: 1
Security analysts Andrew Tian, CFA, and Cameron Wong, CFA, are attending an investment symposium at the Singapore Investment Analyst Society. The focus of the symposium is capital market expectations and relative asset valuations across markets. Many highly-respected practitioners and academics from across the Asia-Pacific region are on hand to make presentations and participate in panel discussions.
The first presenter, Lillian So, President of the Society, speaks on market expectations and tools for estimating intrinsic valuations. She notes that analysts attempting to gauge expectations are often subject to various pitfalls that subjectively skew their estimates. She also points out that there are potential problems relating to a choice of models, not all of which describe risk the same way. She then provides the following data to illustrate how analysts might go about estimating expectations and intrinsic values.
The next speaker, Clive Smyth, is a member of the exchange rate committee at the Bank of New Zealand.
His presentation concerns the links between spot currency rates and forecasted exchange rates. He states that foreign exchange rates are linked by several forces including purchasing power parity (PPP) and interest rate parity (IRP). He tells his audience that the relationship between exchange rates and PPP is strongest in the short run, while the relationship between exchange rates and IRP is strongest in the long run. Smyth goes on to say that when a country's economy becomes more integrated with the larger world economy, this can have a profound impact on the cost of capital and asset valuations in that country.
The final speaker in the session directed his discussion toward emerging market investments. This discussion, by Hector Ruiz, head of emerging market investment for the Chilean Investment Board, was primarily concerned with how emerging market risk differs from that in developed markets and how to evaluate the potential of emerging market investments. He noted that sometimes an economic crisis in one country can spread to other countries in the area, and that asset returns often exhibit a greater degree of non-normality than in developed markets.
Ruiz concluded his presentation with the data in the tables below to illustrate factors that should be considered during the decision-making process for portfolio managers who are evaluating investments in emerging markets.
Determine which of the following characteristics of emerging market debt investing presents the global fixed income portfolio manager with the best potential to generate enhanced returns.
A. Emerging market debt can be highly volatile with negatively skewed returns distributions.
B. Increasing quality of emerging market sovereign debt coupled with the ability of emerging market governments to access global capital.
C. The Emerging Markets Bond Index Pius (EMBI+) index is dominated by Latin American debt securities.
Answer: C
Explanation:
Explanation/Reference:
Explanation:
Although it is true that, in general, emerging market sovereign debt has increased in quality and emerging market governments have the ability to access global capital (e.g., World Bank), these generalities in and of themselves do not present any specific return-enhancing capabilities. Also, it is true that emerging market debt can be highly volatile with negatively-skewed returns distributions. This characteristic, however, presents an increased probability of low or negative returns (increased risk). Expected returns (prices) will compensate for the increased risk, but this again does not in and of itself present any specific return-enhancing capability. It is also true that the EMBI+ index is dominated by the debt securities of Latin American countries. Ordinarily an investor would not want to invest in a concentrated index, due to its lack of diversification. However, with such a concentrated index, the investor is faced with both unsystematic and systematic risk and, hence, an increased return potential. Thus, combining the index with a well- diversified portfolio of fixed income securities presents the global fixed income manager the potential to generate enhanced returns. (Study Session 12, LOS 36.a)
NEW QUESTION: 2
Which two are user definable OpenBoot parameters that can be set in the OpenBoot
PROM?
A. Default boot device
B. Verbose hardware diagnostics
C. IP address for the system console
D. System date and time
E. Powering off the hardware
F. Host ID
Answer: A,B
Explanation:
The NVRAM chip stores user-definable system parameters,also referred to as NVRAM
variables or EEPROM parameters. The parameters allow administrators to control
variables such as the default boot device and boot command. The NVRAM also contains
writeable areas for user-controlled diagnostics,macros,and device aliases. NVRAM is
where the system identification information is stored,such as the host ID,Ethernet
address,and time-of-day (TOD) clock.
Examples of NVRAM variables:
Variable Default Description boot-device disk or net
The device from which to start up.
diag-device net The diagnostic startup source device.
diag-file Empty string Arguments passed to the startup program in diagnostic mode.
diag-switch? false Whether to run in diagnostic mode
NEW QUESTION: 3
You have a server named Server1 that runs Windows Server 2012 R2.
You add an additional disk to Server1 as shown in the exhibit. (Click the Exhibit button.)
You need to ensure that users can access the additional disk from drive C.
What should you do?
A. Convert Disk 1 to a dynamic disk and create a spanned volume.
B. Convert Disk 0 to a dynamic disk and add a mirror.
C. Create a simple volume on Disk 1 and mount the volume to a folder.
D. Convert Disk 0 and Disk 1 to dynamic disks and extend a volume.
Answer: C
Explanation:
Use the new disk to create a simply volume, then mount it as a folder on the current C: drive.
NEW QUESTION: 4
表示を選択しなかったのにreCAPTCHAが表示されるのはなぜですか？
A. フォーム送信時に、Pardotは既知のスパム送信者のデータベースにpingを送信し、一致が見つかった場合
自動的にreCAPTCHAを表示します。
B. フォーム提出時にPardotは既知の見込み客のデータベースにpingを送信し、一致が見つかった場合
自動的にreCAPTCHAを表示します。
Answer: A
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