備考FRM的考生都知道，FRM考生要掌握不僅要掌握教材的知識，還需要對一些習題的練習必不可少。尤其是近幾年的練習題，不僅可以了解考試的重難點在哪里，而且在做題的過程中也能查漏補缺！

Which statement about risk control in portfolio construction is correct?

A) Quadratic programming allows for risk control through parameter estimation but generally requires many more inputs estimated from market data than other methods require.

B) The screening technique provides superior risk control by concentrating stocks in selected sectors based on expected alpha.

C) When using the stratification technique, risk control is implemented by overweighting the categories with lower risks and underweighting the categories with higher risk.

D) When using the linear programming technique, risk is controlled by selecting the portfolio with the lowest level of active risk.

答案：A 【資料下載】FRM一級思維導圖PDF版

解析：Quadratic programming requires many more inputs than other portfolio construction techniques because it entails estimating volatilities and pair-wise correlations between all assets in a portfolio. Quadratic programming is a powerful process, but given the large number of inputs it introduces the potential for noise and poor calibration given the less than perfect nature of most data.

如果想要獲得更多關于FRM考試的真題解析，點擊在線咨詢或者添加融躍老師微信（rongyuejiaoyu）！