资本资产定价模型(CAPM)中的贝塔系数测度的是( )。
A．汇率风险
B．操作风险
C．利率风险
D．系统性风险
参考答案：D
解析： 非系统性风险是指具体的经济单位自身投资方式所引致的风险，又称特有风险。它在市场可由不同的资产组合予以防范、降低，甚至消除。而系统性风险则是由宏观经济营运状况或市场结构所引致的风险，又称市场风险。它在市场上永远存在，不可能通过资产组合来消除。因此，资产风险主要研究系统性风险。资产定价模型(CAPM)则提供了测度不可消除系统性风险的指标，即风险系数β。
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| Wishing to encourage her young son's progress on the piano, a mother took her boy to a Paderewski concert. After they were seated, the mother 1 a friend and walked down the aisle to greet her. Seizing the 2 to explore the wonders of the concert hall, th Qe little boy rose and went 3 a door marked" NO ADMITTANCE". When the house lights dimmed (变暗) and the concert was about to begin, the mother returned to her 4 and discovered that the child was missing. Suddenly, the curtains 5 and spotlights focused on the stage. In horror, the mother saw her little boy sitting at the keyboard, 6 out"Twinkle, Twinkle, Little Star". At that moment, the great piano master 7 his entrance, quickly moved to the piano, and 8 in the boy's ear,"Don't 9 . Keep playing." Then leaning over, Paderewski reached down with his left hand and began 10 in a bass (低音 ) part. Soon his right arm reached 11 to the other side of the child and he added a running obbligato (伴奏). 12 ,the old master and the young boy 13 a frightening situation into a wonderfully creative 14 . That's the way it is in life. 15 we can accomplish (完成 ) on our own is 16 noteworthy. We try our best, but the 17 aren't exactly graceful flowing music. 18 when we trust in the hands of a Greater Power, our life's work truly can be beautiful. Next time you set 19 to accomplish great feats, listen carefully. You can hear the 20 of the Master, whispering in your ear," Don't quit. Keep playing." | ||||
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