CFA一級考試題型是怎么樣的，Fund of Funds的考點考的多不多呢？有沒有相應的考試題做呢？接下來說說CFA一級考試題型是怎么樣？

CFA一級考試共有240道選擇題，每卷120題，每題有A,B,C三個選擇，分值相等。

知道了相應的CFA一級考試題型，那下面的兩道考題是不是Fund of Funds考點考題呢。

【例1】For a hedge fund investor, a benefit of investing in a fund of funds is least likelythe:

A. multilayered fee structure

B. higher level of due diligence expertise

C. ability to negotiate better redemption terms

答案: A解析:考查FOF的優缺點。

【例2】Which of the following least likely describes an advantage of investing in hedge funds through a fund of funds? A fund of funds may provide investors with:

A. lower fees due to economies of scale.

B. access to funds that are closed to new investors.

C. access to managers with expertise in finding reliable and good-quality hedge funds.

答案: A解析:考查對FOF優缺點的掌握。

Fund of Funds【定義】簡稱FOF，指的是投資于hedge fund的fund。CFA一級考試中它有優點也有缺點，也是常考的知識，上面老師出的考試題就是它的優缺點，那它的優缺點是什么呢？

它的優點是投資起點低，小投資者可以購買；贖回限制少；diversification effect分散化投資，降低風險；它的缺點就是additional layers of fee多層收費。