ESG-Investing 無料問題集「CFA Institute Certificate in ESG Investing」

（A）ensures that ESG performance is reflected in asset prices.

（B）hampers the ambition of companies to improve their ESG performance

（C）enhances the credibility of empirical research

（A）asset managers

（B）asset owners

（C）fund promoters

（A）Next-generation battery storage

（B）The use of renewable energy to produce hydrogen

（C）Nuclear fusion

（A）Fund labellers

（B）Investment consultants

（C）Investment platforms

（A）Credit rating agencies attempt to capture the risk of contingent liabilities in their sovereign credit ratings

（B）Municipal bonds cannot be considered for ESG integration

（C）Equity investors typically place greater emphasis on ESG factors that affect balance sheet strength compared to fixed-income investors

（A）Declining life expectancy

（B）Population growth

（C）Economic recession

（A）greater materiality for private companies than for public companies.

（B）greater link to financial performance.

（C）greater consideration in traditional investment analysis.

（A）Slightly lower fee structures compared to other index-based strategies

（B）Lower costs compared to discretionary, actively managed ESG strategies

（C）More focused stewardship activities with companies compared to actively managed ESG strategies

（A）is usually higher than overall materiality

（B）is set lower when financial controls are strong.

（C）can indicate the auditor's level of trust in a company's financial systems.

（A）Changing from voluntary to mandatory disclosures

（B）Moving away from "comply and explain" regulation to "comply or explain" regulation

（C）Moving from policy to implementation and reporting

（A）The importance of a social trend depends on a country's regulatory framework

（B）Companies within a sector are equally exposed to social trends

（C）Social trends have a similar impact across sectors in developed countries

（A）greater reliance on family structures

（B）lower social mobility

（C）higher economic growth in skill-based industries

（A）"traditional" ESG data and research providers

（B）"nontraditional" ESG data and research providers

（C）algorithm-driven ESG research providers

（A）Consultants and retail financial advisors offer too many options for ESG products

（B）The scale of investments is not enough to influence the products offered by fund managers

（C）Even large asset owners have limited resources to conduct their own ESG assessment

（A）Reflecting the client's investment beliefs operationally in the fund manager's investment approach

（B）Defining how ESG performance will be measured

（C）Clarifying the client's ESG investment beliefs

（A）systematic approach

（B）passive approach

（C）thematic approach

（A）Policy risks

（B）Technology risks

（C）Legal risks

（A）Consumer goods

（B）Pharmaceuticals and healthcare

（C）Banking

（A）only considers climate-related impacts on a company

（B）considers both impacts of a company on the climate and climate-related impacts on a company

（C）only considers impacts of a company on the climate