在備考FRM二級考試中，什么是重要的？尤其是在備考的沖刺階段？小編告訴你，當然是做大量的練習(xí)題了，尤其是FRM近幾年的真題練習(xí)。下文是小編列舉的FRM二級考試真題分享，并且附下載鏈接！

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考試的內(nèi)容就分享這么多，考生如果對FRM考試還有更多的疑問，可以文章評論一起學(xué)習(xí)探討！另外，有2022年全年備考日歷，想要的私信或者評論哦！