2021年CFA考试《Level Ⅰ》考试题库-CFA考试（Level Ⅰ）-Study Session 2 Quantitative Methods Basic Concepts-
财会经济-CFA特许金融分析师
阅读理解-What is the geometric mean return for FJW's common stock?
Use the following data to answer Questions 54 and 55. The annual returns for FJW's common stock over the years 2005, 2004, 2005, and 2006 were 15%, 19%,-8%, and 14%.
阅读理解
A.9.45%.
B.14.21%.
C.It cannot be determined because the 2005 return is negative.
我个人认为这个应该是：A
解析：(1.15 × 1.19 × 0.92 × 1.14)0.25- 1 = 9.45%
Professor's Note: This question could have been answered very quietly since the geometric mean must be less than the arithmetic mean computed in the preceding problem.
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