FRM一级风险管理基础重点汇总-CAPM假设

风险管理基础作为FRM一级考试中占比20%的部分，也是我们备考的重点，这一部分的特点就是多且杂，建议大家在理解的基础上对定义进行记忆，可以结合一些重点例题，加深对知识点的理解。

正保会计网校的老师给大家总结好了FRM风险管理基础的重要知识点和常考点，还结合了精选例题做了细致的讲解，想必一定能帮到你，一起来学习一下吧！

先来看看Alex老师的整体知识点介绍，更好理解呦！

↓↓↓

知识点：CAPM假设 

CAPM key assumptions are:

▶ Information is freely available.

▶ Frictionless markets.

▶ Fractional investments are possible.

▶ Perfect competition.

▶ Investors make their decisions solely based on expected returns and variances.

▶ Market participants can borrow and lend unlimited amounts at the risk-free rate.

▶ Homogenous expectations.

常考点：

1. CPAM的假设概括起来就是“完美”二字：完美的市场，完美的投资者，完美的投资产品。

2. CAPM的假设中是没有税的，常见错误选项会说有固定税率。

例题：

The capital asset pricing model (CAPM) is based on several limiting assumptions. Which of the following statements is correct regarding the CAPM? The CAPM:

A. Does not assume that the expected excess returns for the market are known.

B. Assumes that the market portfolio should be the one with the highest Sharpe ratio of all possible portfolios.

C. Does not assume that investors have access to the same information.

D. Assumes that investors’ expectations regarding risk and return are not identical but normally distributed.

【正确答案】B

【答案解析】

The CAPM assumes that the market portfolio should be the portfolio with the highest Sharpe ratio of all possible portfolios and should include all investable assets. It also assumes that the expected excess returns for the market are assumed to be known in that investors have access to the same information. As well, it assumes that returns are normally distributed and investors’ expectations for risk and return are identical.

以上就是FRM一级风险管理基础重点汇总-CAPM假设的相关内容，后期小编会持续给大家更新相关重要知识点，小伙伴们可以关注【 备考经验 】栏目查看！

相关推荐>>

FRM考生必看！FRM二级市场风险重要知识点汇总！

【划重点】FRM P1金融市场与产品重要知识点一周汇总！