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Full Exam Name: SAP Certified Application Associate - SAP Service Cloud Version 2
Vendor Name: SAP
Exam Code: C_C4H56I_34
Questions with Answers (PDF) 65
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NEW QUESTION: 1
Martha Garret, CFA, manages fixed income portfolios for Jones Brothers, Inc. (JBI). JBI has been in the portfolio management business for over 23 years and provides investors with access to actively managed equity and fixed-income portfolios. All of JBI's fixed-income portfolios are constructed using U.S. debt instruments. Garret's primary portfolio responsibilities are the Quasar Fund and the Nova Fund, both of which are long fixed-income portfolios consisting of Treasury securities in all maturity ranges. The Quasar Fund holdings as of March 15 are provided in Exhibit 1. A comparison of key rate durations for the Quasar Fund and Nova Fund is provided in Exhibit 2.
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Of particular importance to Garret and her colleagues is the degree of interest rate risk exposure unique to each portfolio under JBI's management. Driving the increased awareness of the portfolios' interest rate exposure is the double digit growth in assets under management that JBI's fixed-income portfolios have experienced in the last five years. Interest in the company's fixed-income portfolios continues to grow and as a result, all portfolio managers are required to attend weekly meetings to discuss key portfolio risk factors. At the last meeting, Miranda Walsh, a principal at JBI, made the following comments:
"The variance of daily interest rate changes has been trending higher over the last three months leading us to believe that a period of high volatility is approaching in the next twelve to eighteen months. However, the reliability is questionable since the volatility estimates were derived using an option pricing model, which assumes constant interest rates."
"Also, the Treasury spot rate curve currently has a similar shape to the yield curve on Treasury coupon securities, which, according to the market segmentation theory of interest rate term structure, indicates a relatively high level of demand from investors for intermediate term securities. Overzealous trading by investors unwilling to move into other maturity ranges may create mispricing and opportunities for arbitrage." After the meeting, Walsh and JBI's other principals met to discuss a new international portfolio opportunity.
At Walsh's suggestion, the principals selected Garret as the lead portfolio manager for the new fund, which will be titled the Atlantic Fund. One of the other portfolio managers, Greg Terry, CFA, suggested to Garret that she utilize the LIBOR swap curve as a benchmark for the Atlantic fund rather than using local government yield curves. Terry justifies his suggestion by claiming that "the lack of government regulation in the swap market makes swap rates and curves directly comparable between different countries despite fewer maturity points with which to construct the curve as compared to a government yield curve.
Furthermore, credit risk in the swap curves of various countries is similar, thus avoiding the complications associated with different levels of sovereign risk embedded in government yield curves." Intrigued by the idea of using the swap curve, Garret has her assistant begin gathering a range of current and forward LIBOR rates.
Which of the following factors would have the most explanatory power for the historical returns of the Quasar Fund? Changes in the:
A. level of interest rates.
B. curvature of the yield curve.
C. slope of the yield curve.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
Research conducted by Litterman and Scheinkman indicated that changes in the level of interest rates had the most explanatory power for returns on Treasury securities. Since the Quasar fund is composed of Treasuries of various maturities, Litterman and Scheinkmans research would be applicable. (Study Session 14, LOS 53-b)

NEW QUESTION: 2
Backup jobs end with the following series of messages in the Job Details:
Error bpbrm (pid=71572) db_FLISTsend failed: Unable to connect to the database ( 2505)
1 2/05/2013 15:39:45 - job 63389 was restarted as job 63390
Failed to get status code information (2505)
Which process is failing to respond?
A. bpbrm
B. bpdbm
C. nbjm
D. nbemm
Answer: B
Explanation:
Explanation/Reference:
Reference: https://vox.veritas.com/t5/NetBackup/backup-jobs-failing-status-2505-and-252/td-p/671094

NEW QUESTION: 3
EMPLOYEESテーブルの説明を調べます。
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どのクエリが有効ですか?
A. SELECT dept_id、join_date、SUM(salary)FROM employees GROUP BY dept_id;
B. SELECT dept_id、AVG(MAX(salary))FROM employees GROUP BY dept_id;
C. SELECT dept_id、join_date、SUM(salary)FROM employees GROUP BY dept_id、join_date;
D. SELECT dept_id、MAX(AVG(salary))FROM employees GROUP BY dept_id;
Answer: C

NEW QUESTION: 4
プロジェクトスケジュールを作成するとき、プロジェクトマネージャーはこのプロセスで分解および波動計画技術を使用します。
A. 開発スケジュール
B. 要件を収集
C. アクティビティを定義する
D. スコープの定義
Answer: C

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