"Alternative Investments":venture capital investments

來源: 正保會計網(wǎng)校編輯：小鞠橘桔 2020/11/05 09:59:42　字體：大小

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Questions 1:

The most likely impact of adding commodities to a portfolio of equities and bonds is to:

A 、increase risk.

B、 provide higher current income.

C 、reduce exposure to inflation.

Questions 2:

With regard to venture capital, which of the following statements is most likelytrue regarding venture capital?

A 、Investments typically are in later stage and more established companies.

B 、Investors tend to have short time horizons.

C 、Investors require a higher return than investors in publicly traded equity

View answer resolution

【Answer to question 1】C

【analysis】

C is correct. Over the long term, commodity prices are closely related to inflation, so including commodities in a portfolio of equities and bonds will reduce its exposure to inflation.

A is incorrect because commodities have low correlations with traditional securities and therefore reduce overall risk.

B is incorrect because commodity investments tend to produce no current income.

【Answer to question 2】（選項）

【analysis】

C is correct. The historical standard deviations of annual return for venture capital are higher than that of common stocks. Investors should therefore require a higher return in exchange for accepting this higher risk, along with the illiquidity of venture capital investing.

A is incorrect because the venture capital strategy typically invests in start-up or early stage companies, not later stage companies.

B is incorrect because venture capital investments require long time horizons.

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