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CFA考试资料答案R46 Economics and Investment Markets - Answers.pdf

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Question #1 of 26 Question ID: 1210838 Which of the following assets provides a most eective hedge against bad consumption outcomes? A) Equity B) Risk-free bonds. C) Real estate Explanation 7 3 2 1 Risk-free bonds (especially long maturity bonds) provide an eective hedge against bad q i consumption outcomes. Equity prices and real estate values tend to be positively related to the s state of the economy and hence do not provide good hedges against bad consumption u outcomes. m : t (Study Session 17, Module 46.2, LOS 46.i) a h C

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