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NEW QUESTION: 1
Natalia Berg, CFA, has estimated the key rate durations for several maturities in three of her $25 million bond portfolios, as shown in Exhibit 1.

At a fixed-income conference in London, Berg hears a presentation by a university professor on the increasing use of the swap rate curve as a benchmark instead of the government bond yield curve. When Berg returns from the conference, she realizes she has left her notes from the presentation on the airplane. However, she is very interested in learning more about whether she should consider using the swap rate curve in her work.
As she tries to reconstruct what was said at the conference, she writes down two advantages to using the swap rate curve:
Statement 1: The swap rate curve typically has yield quotes at 11 maturities between 2 and 30 years. The
U.S. government bond yield curve, however, has fewer on-the-run issues trading at maturities of at least two years.
Statement 2: Swap curves across countries are more comparable than government bond curves because they reflect similar levels of credit risk.
Berg also estimates the nominal spread, Z-spread, and option-adjusted spread (OAS) for the Steigers Corporation callable bonds in Portfolio 2. The OAS is estimated from a binomial interest rate tree. The results are shown in Exhibit 2.

Berg determines that to obtain an accurate estimate of the effective duration and effective convexity of a callable bond using a binomial model, the specified change in yield (i.e., Ay) must be equal to the OAS.
Berg also observes that the current Treasury bond yield curve is upward sloping. Based on this observation, Berg forecasts that short-term interest rates will increase.
If the 5- and 10-year key rates increase by 20 basis points, but the 2- and 20-year key rates remain unchanged:
A. Portfolio 1 will experience the best price performance.
B. all three portfolios will experience the same price performance.
C. Portfolio 2 will experience the best price performance.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
The exposure of each portfolio to changes in the 5- and 10-year rates are equal to the sum of the 5- and
10-yeat key rate durations:
portfolio 1 exposure = 0.20 + 0.15 = 0.35
portfolio 2 exposure = 0.40 + 4.00 = 4.40
Portfolio 2 has the largest exposure, and portfolio 1 has the smallest exposure. If the 5- and 10-year key rates increase, portfolio 1 will fall by the smallest amount and will experience the best price performance (i.e., the smallest decrease in value).
You can confirm this by doing the calculations for a 20 basis point increase:
% change in portfolio 1 = (-0.20 x 0.002 x 100) + (-0.15 x 0.002 x 100)
= (-0.35 x 0.002 x 100) = -0.07%
% change in portfolio 2 = (-0.40 x 0.002 x 100) + (-4.00 x 0.002 x 100)
= (-4.40 x 0.002 x 100) - -0.88%
(Study Session 14, LOS 53.f)

NEW QUESTION: 2
How should a Hosted VDI environment be implemented to allow user-installed applications?
A. By using Citrix Profile management
B. By using statically assigned virtual desktops
C. By using a network share that contains the App-V packages
D. By using Personal vDisk
Answer: D

NEW QUESTION: 3

A. hybrid cloud
B. SDN controller cloud
C. Cisco umbrella cloud
D. Cisco mobility controller cloud
E. Cisco cloud redirect
F. private-cloud on-premises
Answer: A,E,F
Explanation:
Explanation
https://www.cisco.com/c/en/us/td/docs/wireless/controller/technotes/8-5/b_cisco_mobility_express_8_5/b_cisco_

NEW QUESTION: 4
There are two R77.30 Security Gateways in the Firewall Cluster. They are named FW_A and FW_B. The cluster is configured to work as HA (High availability) with default cluster configuration. FW_A is configured to have higher priority than FW_B. FW_A was active and processing the traffic in the morning. FW_B was standby. Around 1100 am, its interfaces went down and this caused a failover. FW_B became active. After an hour, FW_A's interface issues were resolved and it became operational. When it re-joins the cluster, will it become active automatically?
A. Yes, since "Switch to higher priority cluster member" option is enabled by default on the Global Properties
B. Yes, since "Switch to higher priority cluster member" option on the cluster object properties is enabled by default
C. No, since "maintain current active cluster member" option is enabled by default on the Global Properties
D. No, since "maintain current active cluster member" option on the cluster object properties is enabled by default
Answer: D
Explanation:
Explanation/Reference:
Explanation: What Happens When a Security Gateway Recovers?
In a Load Sharing configuration, when the failed Security Gateway in a cluster recovers, all connections are redistributed among all active members. High Availability and Load Sharing in ClusterXL ClusterXL Administration Guide R77 Versions | 31 In a High Availability configuration, when the failed Security Gateway in a cluster recovers, the recovery method depends on the configured cluster setting. The options are:
* Maintain Current Active Security Gateway means that if one member passes on control to a lower priority member, control will be returned to the higher priority member only if the lower priority member fails. This mode is recommended if all members are equally capable of processing traffic, in order to minimize the number of failover events.
* Switch to Higher Priority Security Gateway means that if the lower priority member has control and the higher priority member is restored, then control will be returned to the higher priority member. This mode is recommended if one member is better equipped for handling connections, so it will be the default Security Gateway.
Reference: http://dl3.checkpoint.com/paid/7e/7ef174cf00762ceaf228384ea20ea64a/ CP_R77_ClusterXL_AdminGuide.pdf?
HashKey=1479822138_31410b1f8360074be87fd8f1ab682464&xtn=.pdf