CFA协会ESG考试题库第八章模拟试题二

CFA协会ESG考试题库第八章 ESG题库习题集

Chapter 8 Integrated Portfolio Construction and Management 模拟试题11-20

11. What are some practitioner resources for integrating ESG into investment decision-making?

a) Sell-side research and analysis

b) Academic studies

c) Third-party ESG data provider research

d) All of the above

12. What is the purpose of ESG integration in investment decision-making?

a) To solely generate higher financial returns

b) To reduce exposure to high-risk industries

c) To align investments with ethical and sustainability considerations

d) None of the above

13. How do exclusions impact portfolio management?

a) Increase tracking error and active share

b) Limit exposure to specific sectors or securities

c) Change the risk-return profile of the investment fund

d) All of the above

14. What is the purpose of stress testing a portfolio against different ESG criteria?

a) To understand the sensitivity of the portfolio

b) To generate higher financial returns

c) To reduce exposure to high-risk industries

d) None of the above

15. How do exclusion lists impact the investable universe of a portfolio?

a) They increase the size of the investable universe

b) They decrease the size of the investable universe

c) They have no impact on the investable universe

d) It depends on the specific exclusions

16. What is the potential benefit of defining ESG as an uncorrelated factor?

a) It opens significant opportunities for portfolio management

b) It increases the risk-return profile of the portfolio

c) It reduces the exposure to ESG-related risks

d) All of the above

17. What is the oldest approach to ESG investing?

a) Exclusionary preferences

b) Universal exclusions

c) Faith-based exclusions

d) Idiosyncratic exclusions

18. How can portfolio tools help investors better understand ESG characteristics?

a) By decomposing portfolios and benchmark indexes

b) By providing drill-down capabilities

c) By stress testing portfolios against different ESG criteria

d) All of the above

19. What is the purpose of benchmarking in sustainable investing?

a) To compare the performance of ESG portfolios

b) To evaluate the impact of exclusions on benchmark indexes

c) To determine the level of ESG integration in different asset classes

d) All of the above

20. What is the potential benefit of using external ESG ratings from third-party data providers?

a) Cost-efficient access to in-depth ESG research

b) Enhanced risk management through ESG integration

c) Improved alignment with investor preferences

d) All of the above

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