第2部份：投資

Paper V — Investment-linked Life Insurance · Part 2: Investments

Q1 免費 Free

以下關於投資風險的意義的陳述，哪些正確？ I. 實際回報與預期回報之間的差異或不確定性 II. 投資必然虧損的情況 III. 市場價格上升的可能性

Which of the following statements about 投資風險的意義 are correct? I. The variability or uncertainty of actual returns relative to expected returns II. The certainty of investment loss III. The possibility of market prices rising

A. II only
B. I 及 II only
C. I only
D. 以上全部

A. II only
B. I and II only
C. I only
D. All of the above

顯示答案 / Show Answer

正確答案 / Correct Answer: C

投資風險是指實際回報與預期回報之間的差異，即回報的不確定性。
風險不一定代表損失，也包括回報高於預期的可能性。
風險管理的目標是在可接受的風險水平下爭取最佳回報。

Investment risk refers to the variability between actual and expected returns, i.e., the uncertainty of returns.
Risk does not necessarily mean loss; it also includes the possibility of returns exceeding expectations.
The goal of risk management is to achieve the best possible return within an acceptable level of risk.

Q2 免費 Free

以下哪項屬於「系統性風險」（Systematic Risk）？

Which of the following is an example of systematic risk?

A. 某公司管理層醜聞導致股價下跌
B. 某行業受新技術衝擊而萎縮
C. 全球金融危機導致整體市場下跌
D. 某公司產品召回事件

A. A company's share price falling due to a management scandal
B. An industry declining due to new technology disruption
C. The overall market falling due to a global financial crisis
D. A product recall by a specific company

顯示答案 / Show Answer

正確答案 / Correct Answer: C

系統性風險（又稱市場風險）是影響整體市場的風險，無法透過分散投資消除。
全球金融危機屬於系統性風險，影響所有資產類別。
其他選項均屬非系統性風險（又稱公司特定風險），可透過分散投資降低。

Systematic risk (also called market risk) affects the entire market and cannot be eliminated through diversification.
A global financial crisis is a systematic risk that impacts all asset classes.
The other options are unsystematic risks (company-specific risks) that can be reduced through diversification.

Independent study aid. Not affiliated with or endorsed by the Insurance Authority (IA) of Hong Kong.

本應用為獨立學習工具，與香港保險業監管局 (IA) 無關，亦未獲其認可。