在備考FRM考試中，真題的練習(xí)是必不可少的。下文是小編列舉的相關(guān)真題練習(xí)，備考生看過(guò)來(lái)！

Which of the following assets does not qualify as a Level 1 liquid asset?

A) Marketable securities (0% risk weight)

B) Cash

C) Central bank reserves

D) Securities with aAA-rating by an external credit assessment institution.


答案：D

解析：Level 1 liquid assets are of the highest “quality” with respect to liquidity. Level 1 assets include cash, reserves, marketable securities with a 0% risk weight, and non-0% risk weight sovereign and central bank debt.

CMM’s CRO was concerned about the bank’s liquidity position and decided to review the impact of the devaluation and other capital market events on its net stable funding ratio (NSFR). Ignoring any changes in the market value of CMM’s sovereign debt holdings, which of the following is correct?

A) The NSFR will not be impacted by the sovereign credit rating changes because the overall sovereign debt portfolio remains investment grade.

B) The NSFR will be reduced by the sovereign credit rating changes but this effect can be offset by sellingA-rated sovereign debt and investing the proceeds in gold.

C) The NSFR will not be impacted by the change in demand deposits because the bank’s overall deposit level is unchange

D) The NSFR will be reduced by the change in demand deposits but this effect can be offset by issuing common stock.

答案：D

解析：The shift in the demand deposit base from retail demand deposits to wholesale demand deposits with terms less than one year would reduce the NSFR. The change in retail deposit behavior would likely cause a shifting of demand deposit classification from “stable” to “l(fā)ess stable” also reducing the NSFR. The downward sovereign credit migration would increase the required stable funding factor applied to these bonds and reduce the NSFR. The issuance of common stock, which should be classified as Tier 1 capital, would increase the NSFR.