很多FRM學員還不知道FRM真題的重要性，考前進行FRM真題練習是有很大效果的。FRM真題練習，備考中需要重點掌握！今天融躍小編給大家?guī)鞦RM真題每日一練！

Regarding of the following strategies to harvest illiquidity premiums, which one is most likely a passive strategy?

A) Choosing the most illiquid assets within an asset class, even if the asset class is generally considered to be liquid.》》》戳：免·費領(lǐng)取FRM各科視頻講義+歷年真題+21年原版書（PDF版）

B) Using dynamic factor strategies at the aggregate portfolio level.

C) Acting as a market maker for individual securities.

D) Allocating a portion of a portfolio to illiquid asset classes.

答案：D

解析：There are four primary ways that investors can harvest illiquidity premiums:

1. Allocating a portion of the portfolio to illiquid asset classes like real estate (i.e., this is a passive allocation to illiquid asset classes).

2. Choosing more illiquid assets within an asset class (i.e., liquidity security selection).

3. Acting as a market maker for individual securities.

4. Engaging in dynamic factor strategies at the aggregate portfolio level. This means taking long positions in illiquid assets and short positions in liquid assets to harvest the illiquidity risk premium.【資料下載】點擊下載FRM二級思維導圖PDF版

Of the four ways investors can harvest illiquidity risk premiums, this is the easiest to implement and can have the greatest effect on portfolio returns.

如果想要獲得更多關(guān)于FRM考試的真題解析，點擊在線咨詢或者添加融躍老師微信（rongyuejiaoyu）！