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NEW QUESTION: 1
Kim Simpson, CFA, manages a $75 million multi-cap growth portfolio. Simpson utilizes a growth at a reasonable price (GARP) investment strategy and her investment universe consists of small, medium and large capitalization stocks. She turns the entire portfolio over once each year. Simpson is concerned about the amount of trading costs she has generated through the implementation of her investment strategy.
Simpson decides to conduct a trade cost analysis with the cooperation of her trader, Janet Long, CFA.
Simpson believes the results of the trading analysis can be used to improve trading performance and help to refine her investment strategy. The first trade they examine is a purchase of 2000 shares of Technology Company that was completed using a market order. Simpson remembers adding to her Technology Company position based on her analyst's recommendation that the company was going to generate earnings significantly above the consensus estimate in a soon to be released earnings report. The order was split into two trades as shown in Figure 1.
Figure 1: Technology Company buy order for 2000 shares

In conducting a comprehensive analysis of the trading markets, Simpson states that she is most concerned about market liquidity. Simpson defines a market with good liquidity as one with diversity of opinion, many buyers/sellers and relatively wide bid-ask spreads. In addition to reviewing market liquidity, Simpson believes that, in order to assess market quality, both the ease with which investors can obtain accurate information and the certainty that a trade will be completed must be evaluated.
Simpson and Long review their trade of Nano Corporation, a small biotechnology company. Simpson used a limit order because her analyst had established a specific buy target and she wanted to hold down transaction costs. To handle both explicit and implicit trading costs, Simpson measures execution costs using implementation shortfall. The buy order for 100,000 shares of Nano stock has the following timeline:
* Nano stock price closes at $35.00 per share.
* Day one: Simpson places a limit order for 100,000 shares of Nano stock at $34.75 per share or better at the opening of trading. However, Nano's stock never falls below $35.00 per share and closes at $36.50 per share.
* Day two: Simpson adjusts her limit order price to $37.00 per share or better. Long is able to fill 50,000 shares of the order at $36.75 per share. Nano's stock climbs to $38.00 per share during the day and Simpson moves the limit price to $40.00 per share or better. Long completes the purchase of the remaining 50,000 shares of Nano at $40.00 per share, which is also the closing price of Nano's stock.
* The commission for each block trade is $2,500.
Long suggests implementing the Best Execution concept as established by the CFA Institute in its Trade Management Guidelines. Long states best execution would accept a high portfolio turnover strategy provided the overall portfolio value is greater after trading costs. Long asserts that her professional relationships are integral to best execution.
Simpson discusses both the definition of market liquidity and how to assess market quality. Are her statements correct?
A. Both statements are correct.
B. Only the market liquidity statement is correct.
C. Only the market quality statement is correct.
Answer: C
Explanation:
Explanation/Reference:
Explanation:
The factors listed by Simpson that make a market liquid are not all correct. The major factors that contribute to making a market liquid are the presence of many buyers and sellers, diversity of opinion and information, convenience and market integrity A liquid market will have narrow bid-ask spreads, not wide bid-ask spreads. Simpsons discussion of the factors evaluated when assessing market quality is correct.
To evaluate market quality, the following factors must be assessed: market liquidity, market transparency, and the certainty with which investor orders will be completed. (Study Session 16, LOS 45.d

NEW QUESTION: 2
Which of the following activities is critical to successful synchronization of supply and demand throughout a supply chain?
A. Placing large orders to obtain lower prices
B. Reducing the number of deliveries
C. Sharing demand information
D. Maintaining increased inventories
Answer: C

NEW QUESTION: 3
注：この質問は、同じシナリオを提示する一連の質問の一部です。シリーズの各質問には、指定された目標を達成できる独自のソリューションが含まれています。一部の質問セットには複数の正しい解決策がある場合がありますが、他の質問セットには正しい解決策がない場合があります。
このセクションの質問に回答すると、その質問に戻ることはできません。その結果、これらの質問はレビュー画面に表示されません。
VM1とVM2という名前の2つのAzure仮想マシンにインストールされているApp1という名前のアプリがあります。
App1への接続は、Azureロードバランサーを使用して管理されます。
VM2の効果的なネットワークセキュリティ構成を次の図に示します。

TCPポート443を介した131.107.100.50からApp1への接続が失敗することがわかります。ロードバランサのルールが正しく構成されていることを確認します。
App1への接続がTCPポート443を介して131.107.100.50から正常に確立できることを確認する必要があります。
解決策：131.107.100.50ソースからのすべてのトラフィックを拒否し、コストが64999の受信セキュリティルールを作成します。
これは目標を達成していますか？
A. いいえ
B. はい
Answer: B