Institutional Portfolio Management Questions come from SS 6 / Readings 13 & 14. The table below summarizes what concepts were tested between 2011 and 2015.
|
Year
|
Q#
|
Concepts tested
|
|
2015
|
1
|
Pension plan: Risk tolerance, calculate return requirement, impact
of early retirement option.
|
|
2015
|
2
|
Pension plan: Asset only and liability-relative approach, ability to take risk.
|
|
2014
|
5
|
Pension plan: Risk tolerance, liquidity requirement, asset-only and
liability mimicking approach.
|
|
2014
|
6
|
Endowment: Risk tolerance, return requirement, compare risk tolerance
and liquidity requirement of endowment with pension plan.
|
|
2013
|
6
|
Foundation: Risk tolerance, calculate nominal required return, calculate
liquidity requirement.
|
|
2013
|
7
|
Pension plan: Shortfall risk. Note: Part C and D are not relevant.
|
|
2012
|
6
|
Pension plan: Return objective and return requirement, risk tolerance,
asset allocation, asset-only and liability relative approach, DB plan
vs participant-directed DC plan.
|
|
2011
|
3
|
Endowment: Formulate and calculate return objective for endowment,
risk tolerance, liquidity and time horizon constraints, maintaining real
value and reducing volatility of endowment.
|
