FRM二级考试真题分享，附下载链接！

在备考FRM二级考试中，什么是重要的？尤其是在备考的冲刺阶段？小编告诉你，当然是做大量的练习题了，尤其是FRM近几年的真题练习。下文是小编列举的FRM二级考试真题分享，并且附下载链接！

We can add a momentum factor to the Fama-French so that it becomes a four-factor model. This momentum factor is denoted by WML(i.e., past winners minus past losers) or UMD (i.e., stocks that have gone up minus stocks that have gone down).

At least with respect to the historical window analyzed, which is the long period from January 1965 to December 2011, which of the following statements is TRUE about the momentum factor?

A) Momentum is a negative feedback strategy which is inherently stabilizing

B) The momentum factor is observed in equities but is NOT observed in bonds, commodities and real estate

C) Momentum investing by definition is an anti-value strategy; correlations between HML and WML are strongly negative

D) The cumulated profits on momentum strategies have been an order of magnitude larger than cumulated profits on either size or value

答案：D

解 析 ：The cumulated profits on momentum strategies have been an order of magnitude larger than cumulated profits on either size or value.

FRM考试的内容就分享这么多，考生如果对FRM考试还有更多的疑问，可以文章评论一起学习探讨！另外，有2022年全年备考日历，想要的私信或者评论哦！