- CFA Exams
- CFA Level I Exam
- Topic 9. Portfolio Management
- Learning Module 40. Using Multifactor Models
- Subject 1. Arbitrage Pricing Theory
CFA Practice Question
Suppose we have one well-diversified portfolio that is sensitive to a single factor. The expected return, risk-free rate, and factor sensitivity are 0.08, 0.02, and 2, respectively. What is the factor risk premium?
B. 0.03
C. 0.06
A. 0.02
B. 0.03
C. 0.06
Correct Answer: B
0.08 = 0.02 + 2 x λ1
λ1 = 0.03
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