在FRM考試的學習中，考生不能忽視對FRM真題的練習。這對于考生順利通過考試是很有必要的。下面是列舉的相關真題，希望對你有所幫助！

Which of the following statements about volatility-weighting is true?

A) Historic returns are adjusted, and the VaR calculation is more complicated.

B) Historic returns are adjusted, and the VaR calculation procedure is the same.

C) Current period returns are adjusted, and the VaR calculation is more complicated.

D) Current period returns are adjusted, and the VaR calculation is the same.

答案：B

解析：The volatility-weighting method adjusts historic returns for current volatility. Specifically, return at time t is multiplied by (current volatility estimate/volatility estimate at time t). However, the actual procedure for calculating VaR using a historical simulation method is unchanged; it is only the inputted data that changes.

Afirm uses VaR to estimate the probability of losses. However, management is concerned that the estimation process gives equal weight to all observations.

Therefore, alternative approaches are considered. Which of the following statements accurately describes an alternative weighted historic simulation approach?

Ⅰ.Individual observations can be weighted based on volatility by substituting historical returns with volatility-adjusted returns.

Ⅱ.Historical returns can be revised using correlation-adjusted returns.

A) I only.

B) II only.

C) Both I and II.

D) Neither I nor II.

答案：C

解析：The volatility-weighted and correlation-weighted historical simulations were correctly described.

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