CFA Level 3 - Practice Exams Questions
And Answers With Verified Solutions
100% Correct!!!
Active Return - ANSWER✔✔Manager Portfolio Return - Benchmark Return
Misfit Return - ANSWER✔✔Manager Benchmark - Overall Investors Benchmark
Total Value Added - ANSWER✔✔Portfolio Return - Benchmark Return - Trading
cost
Future Wage Liability - ANSWER✔✔Real wage growth + Wage inflation
Fed Model - ANSWER✔✔E1/ p / LT Treasury
Yardeni Model - ANSWER✔✔E1/ p = Corporate Bond Premium - (d x LTEG)
Calculating Initial Safety Margin - ANSWER✔✔1st Calculate Terminal value
TV = (1+ s/2) ^ (2t)
2nd Calculate Initial Reqd Portfolio Value
TV / (1+i/2)^(2t)
Safety Margin = Portfolio - Initial Reqd Portfolio Value
Grinold - Kronor Model - ANSWER✔✔D1/Po - Chg Shares + I + g + Chg P/E
And Answers With Verified Solutions
100% Correct!!!
Active Return - ANSWER✔✔Manager Portfolio Return - Benchmark Return
Misfit Return - ANSWER✔✔Manager Benchmark - Overall Investors Benchmark
Total Value Added - ANSWER✔✔Portfolio Return - Benchmark Return - Trading
cost
Future Wage Liability - ANSWER✔✔Real wage growth + Wage inflation
Fed Model - ANSWER✔✔E1/ p / LT Treasury
Yardeni Model - ANSWER✔✔E1/ p = Corporate Bond Premium - (d x LTEG)
Calculating Initial Safety Margin - ANSWER✔✔1st Calculate Terminal value
TV = (1+ s/2) ^ (2t)
2nd Calculate Initial Reqd Portfolio Value
TV / (1+i/2)^(2t)
Safety Margin = Portfolio - Initial Reqd Portfolio Value
Grinold - Kronor Model - ANSWER✔✔D1/Po - Chg Shares + I + g + Chg P/E