Given the mid-sized nature of the pension fund Markus works for, the i

1.Given the mid-sized nature of the pension fund Markus works for, the implementation of investments is done via externally managed funds. In order to reduce the long list of managers to a short list, he considers some ESG metrics in order to compare the funds. Which of the following is NOT one such metric? 选项： A: The existence of an ESG policy B: Affiliation with investor initiatives, such as the Principles for Responsible Investment(PR) C: The manner and degree in which ESG is integrated in the investment process D: The level of diversity in the portfolio management team

2.Given the mid-sized nature of the pension fund Markus works for, the implementation of investments is done via externally managed funds. In order to reduce the long list of managers to a short list, he considers some CESGA metrics in order to compare the funds. Which of the following is NOT one such metric? 选项： A:The existence of an CESGA policy B:Affiliation with investor initiatives, such as the Principles for Responsible Investment (PRI) C:The manner and degree in which CESGA is integrated in the investment process D:The level of diversity in the portfolio management team

3.4004703] Various stakeholders shape responsible investment. Which one of the following is an incorrect statement regarding these stakeholder? 选项： A:Given the long-term nature of a pensions liabilities, ESG factors are particularly pertinent to their investments. B:In general, insurers are considered advanced in their understanding of ESG factors. C:Investment platforms can set standards to award to investment vehicles after assessing its ESG process and performance.

4. Which of the following is likely to have a direct impact on the company value? 选项： A:Strong management team B:Environmental litigation C:Work returners programme D:Implementation of ESG policy

5.Which of the following statements about environmental, social, and governance(ESG) in investment analysis is correct?( ) 选项： A、A. ESG factors are strictly intangible in nature. B、B. ESG terminology is easily distinguishable among investors. C、C. Environmental and social factors have been adopted in investment analysis

6.4062419] In relation to ESG issues, what are the Sullivan Principles? 选项： A: An initiative to find ways to integrate ESG into capital markets. B: The principles underlying the leading investor initiative relevant to ESG. C: A code of conduct guiding ethical investment in South Africa.

7.Which of the following is not a challenge that fund managers face in integrating ESG? 选项： A: A very wide interpretation of investment objectives on which consultants and advisers base their advice to owners B: Resource challenges C: A lack of clear signals from asset owners that they are interested inESG

8.Which of the following is not a typical stage of integrated ESG assessment? 选项： A:Portfolio construction stage B:Materiality stage C:Valuation stage

9.4062402] Which of the following best describes the Sullivan Principles? 选项： A:The principle that ESG issues are consistent with fiduciary duty because of their materiality to businesses. B:A code of conduct guiding ethical investment in South Africa. C:An initiative to find ways to integrate ESG into capital markets.

10.Which of the following is not a challenge that fund managers face in integrating ESG? 选项： A: A very wide interpretation of investment objectives on which consultants and advisers base their advice to owners B: Resource challenges C: A lack of clear signals from asset owners that they are interested inESG D: Perceptions around the cost and availability of data and tools

11.From the following investment approaches, which one is focused on assets with the specific intent of generating positive, measurable social and/or environmental impact alongside a financial return? 选项： A:Impact investment B:Social investing C:ESG investing

12.What would you conclude if an investor decreases its investment offer based on ESG due diligence conclusions? 选项： A:A higher ESG rating than previously considered. B:A lower ESG risk than previously considered. C:A higher ESG risk than previously considered.

13.Of the following statements, which is least likely to form part of an investment philosophy that integrates ESG? 选项： A:We use intangible, ESG and business assessment to invest in great, sustainable companies at attractive valuations. B:We construct portfolios of sustainable companies with the confidence derived from our deep ESG research and analysis. C:We manage the ESG risks and opportunities associated with short-term economic trends, taking decisions well and maximising profits.

14.ESG should be understood as simply another factor that potentially may enhance the risk and return profile.Portfolio optimization is an increasingly important means to apply ESG criteria.ESG Optimization... 选项： A:organizes the securities by their individual ESG profile to solve a specific ESG optimisation at the overall portfolio level. B:organizes the securities by their individual financial performance profile to solve a specific ESG optimization at the overall portfolio level. C:organizes the securities by their alignment with individual SDGs to solve a specific ESG optimization at the overall portfolio level.

15.A company has scored well on ESG metrics relative to its competitors, which implies a number of things. Which of the following is not one of the implications of this relative ESG score? 选项： A:They are more disposed to longer term strategic thinking and planning. B:They are better able to anticipate environmental change risks and opportunities. C:They are more likely to grow rapidly and offer higher short term returns. D:They enjoy valuation premiums due to changing investor concerns and preferences.

16.Different investors have different investment objectives, risk/return profiles and drivers. These will influence the type of ESG investing strategies they will consider most attractive. Which of the following asset owner types is most likely to include an exclusionary policy? 选项： A: Defined benefit(DB) pension scheme B: General insurance business C: Foundation

17.Which one of the following statements about Negative List policy is NOT ture? 选项：A、The Negative List policy first appeared in Shanghai in 2013. B、Unlisted sectors are open to foreign investment. C、The number of items on the Negative List of Shanghai is 190 at present. D、The policy is now codified in China's Foreign Investment Law.

18.Which of the following ESG index providers specifically considers goverance? 选项： A:Bloomberg B:FTSE Russell C:MSCI D:Thomson Reuters

19.An investor is seeking an investment that can take long and short positions, may use multi-strategies, and historically exhibits low correlation with a traditional investment portfolio. The investor’s goals will be best satisfied with an investment in: 选项： A:A. real estate. B:B. a hedge fund. C:C. a private equity fund.

20.Which of the following would be considered to be an investment centre?选项： A:Managers have control over marketing.; B:Management have a sales team.; C:Management have a sales team and are given a credit control function.; D:Managers can purchase capital assets and are given a credit control function.

21.In order to assess ESG risks and opportunities, Francesca and her team produce scorecards which then can be used by the various Fixed Income PM teams at Paddington Management. The production of these scorecards follow a very distinct process. Which of the below is the correct process? 选项： A:1: B:items. C:1: D:items. E:1: F:items. G:1: H:items.

22.A portfolio manager identified a company within the portfolio that has not disclosed ESG data, as requested, in the last three years. The portfolio manager most likely concludes that … 选项： A:The company's management is managing its ESG risks or opportunities poorly. B:The company's management is managing its ESG risks or opportunities well without the need to C:Needs to talk with the company's management to understand the reasons for missing disclosing requested