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NEW QUESTION: 1
Christopher Robinson, chairman of the board of directors for a private endowment fund, believes that the endowment fund for which he is responsible has diverged too far from its stated objectives. Over several years the board has increased the size of the fund's equity position beyond the stated limits of the investment policy statement. In an effort to realign the fund's investments, Robinson has elected to choose a mortgage-backed security (MBS) for inclusion in the endowment's portfolio. After surveying the MBS market, Robinson has selected four MBS securities to present as potential investments at the next investment committee meeting. Details on the selected MBS securities are presented below:

At the investment committee meeting, a fellow board member raises his concerns over the potential MBS investments stating, "While we all agree that the fixed-income proportion of the endowment is much too small, I am not sure the suggested MBS securities will fulfill the cash flow requirements of the endowment.
What risks are we taking on by allocating a portion of the portfolio to these investments? We cannot afford to end up with a timing mismatch between the cash needs of the endowment and the cash provided from its investments. Also, we have given no consideration to commercial mortgage backed securities (CMBS).
Isn't our analysis incomplete if we fail to give proper discussion of potential CMBS investment opportunities?" Robinson responded to his fellow board member by addressing the board member's concerns as follows:
"Since the cash requirements of the endowment fund fluctuate directly with interest rates, the cash flows provided from the MBS will provide adequate protection against cash shortfalls arising from differences in the timing of cash needs and cash sources. In addition, we can further reduce uncertainty surrounding the timing of cash flows by purchasing planned amortization class CMOs, which are securities issued against pools of MBS. CMBS were not presented due to the unacceptable risk profile of the comparable CMBS trading in the marketplace." Of the four MBS securities under consideration, which MBS will add the most value relative to the risk associated with the security assuming the effective durations of the MBS securities is approximately the same?
A. MBS-W.
B. MBS-X.
C. MBS-Y.
Answer: B
Explanation:
Explanation/Reference:
Explanation:
MBS-X has the highest OAS relative to the cost of the option embedded in the MBS. Therefore, ir is the most attractive of the four alternatives. (Study Session 15, LOS 58.e)

NEW QUESTION: 2
Group 7のコンピューター用にAzure Automationを構成する必要があります。
どの3つのアクションを順番に実行しますか？答えるには、適切な行動を行動のリストから回答領域に移動し、正しい順序で並べます。

Answer:
Explanation:

Explanation

Step 1: Create a Desired State Configuration (DSC) configuration file that has an extension of .ps1.
Step 2: Run the Import-AzureRmAutomationDscConfiguration Azure Powershell cmdlet The Import-AzureRmAutomationDscConfiguration cmdlet imports an APS Desired State Configuration (DSC) configuration into Azure Automation. Specify the path of an APS script that contains a single DSC configuration.
Example:
PS C:\>Import-AzureRmAutomationDscConfiguration -AutomationAccountName
"Contoso17"-ResourceGroupName "ResourceGroup01" -SourcePath "C:\DSC\client.ps1" -Force This command imports the DSC configuration in the file named client.ps1 into the Automation account named Contoso17. The command specifies the Force parameter. If there is an existing DSC configuration, this command replaces it.
Step 3: Run the Start-AzureRmAutomationDscCompilationJob Azure Powershell cmdlet The Start-AzureRmAutomationDscCompilationJob cmdlet compiles an APS Desired State Configuration (DSC) configuration in Azure Automation.
References:
https://docs.microsoft.com/en-us/powershell/module/azurerm.automation/import-azurermautomationdscconfigur
https://docs.microsoft.com/en-us/powershell/module/azurerm.automation/start-azurermautomationdsccompilatio

NEW QUESTION: 3

A. Root CA
B. Delegated CA
C. Intermediate CA
D. Subordinate CA
Answer: A