备考中的考生都知道FRM真题的重要性，从哪里获得真题也是众多考生所面临的问题。下面是融跃小编列举的相关真题练习，希望对备考的你有所帮助！

The process of mapping a fixed-income portfolio to a set of risk factors is primarily associated with all of the following except:

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A) Duration mapping.

B) Principal mapping.

C) Cash flow mapping.

D) Credit risk mapping.

答案：D

解析：Fixed-income portfolio risk factors are usually mapped to principal, duration, and cash-flow risk factors.

Which of the following is not a required step in determining VaR for a fixed-income portfolio?

A) Determine the changes in the values of the market factors.

B) Decompose and map the portfolio.

C) Regress the portfolio value changes against those of an identical hypothetical portfolio to determine the appropriate market factors.

D) Compute the mean and standard deviation of the changes in the portfolio value.

答案：C

解析：Regression analysis against a hypothetical but identical portfolio is not used in the process of choosing appropriate market factors.

Which of the following is not a required step in using the delta-normal method to determine VaR for a fixed-income portfolio?

A) Apply convexity adjustments to the mapped positions.

B) Compute the mean, the standard deviation, and the VaR.

C) Decompose and map the portfolio.

D) Determine the changes in the values of the market factors.扫码领取

答案：C

解析：Convexity is not a required input in applying the delta-normal method to fixed-income portfolios, although it might prove useful if interest rates, rather than bond prices were used as market factors.

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