FRM真题的练习对于备考中的考生是非 常重要的,尤其是临近FRM考试,考生一定要做大量的练习题,尤其是近几年的FRM真题。近日有考生咨询,想做FRM真题,有例题解析吗?下面是小编列举的相关例题,一起了解一下!

Regarding the pricing of fixed-income investments with binomial trees, a risk-neutral approach assumes that the value of the asset:>>>点击领取2021年FRM备考资料大礼包(戳我免·费领取)

A) Does not change

B) Changes in a random way

C) Grows at the risk-free rate

D) Grows at the rate of expected returns.

答案:C

解析:Arisk-neutral approach is one in which the value of the underlying asset is assumed to grow at the risk-free rate.

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Which of the following statements concerning the calculation of value at a node in a binomial interest rate tree is most accurate? The value at each node is the:

A) present value of the two possible values from the next period.

B) sum of the present values of the two possible values from the next period.

C) average of the future values of the two possible values from the next period.

D) average of the present values of the two possible values from the next period.

答案:D

解析:The value at any given node in a binomial tree is the present value of the cash flows at the two possible states immediately to the right of the given node, discounted at the 1-period rate at the node under examination.

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