1、单选题：
Which formula describe the Capital Asset Pricing Model?（ ）
选项：
A:

B:

C:

答案: 【
】

2、多选题：
Which of the following descriptions are the assumption for Capital Asset Pricing Model?（ ）
选项：
A:Investors care only about expected return and standard deviation of return.
B:Tax does not influence investment decisions.
C:All investors make the same estimates of .

D:All investors can borrow or lend at the same risk-free rate.
E:Investors focus on returns over one period.
F:The 's of different investments are independent.

答案: 【Investors care only about expected return and standard deviation of return.
;
Tax does not influence investment decisions.
;
All investors make the same estimates of .
;
All investors can borrow or lend at the same risk-free rate.
;
Investors focus on returns over one period.
;
The 's of different investments are independent.
】

3、单选题：
The return from the market last year was 10% and the risk-free rate was 5%. A hedge fund manager with a beta of 0.6 has an alpha of 4%. What return did the hedge fund manager earn?（ ）
选项：
A:0.10
B:0.15
C:0.12
答案: 【0.12】

4、单选题：
Suppose the S&P 500 Index has an expected annual return of 7.2% and volatility of 8.2%. Suppose Andromeda Fund has an expected annual return of 6.8% and volatility of 7.0% and is benchmarked against the S&P 500 Index. According to the CAPM, if the risk-free rate is 2.2% per year, what is the beta of the Andromeda Fund?（ ）
选项：
A:0.20
B:0.90
C:0.92
D:1.23
答案: 【0.92】

5、判断题：
If a bond issued by a company have a rating of AAA, the company generally can not be referred to as having a rating of AA.（ ）
选项：
A:错
B:对
答案: 【对】