风险管理基础作为FRM一级考试中占比20%的部分，也是大家备考的重点，这一部分的特征就是多且杂，建议大伙在理解的基础上对概念进行记忆，可以结合一些重点例题，加深对要点的理解。
正保会计网校的老师给大伙概要好了FRM风险管理基础的重点知识和常考试知识点，还结合了甄选例题做了细致的解说，想来肯定能帮到你，一块儿学习一下吧！
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要点：CAPM假设
CAPM key assumptions are:
▶ Information is freely available.
▶ Frictionless markets.
▶ Fractional investments are possible.
▶ Perfect competition.
▶ Investors make their decisions solely based on expected returns and variances.
▶ Market participants can borrow and lend unlimited amounts at the risk-free rate.
▶ Homogenous expectations.
常考试知识点：
1. 行动成本M的假设概括起来就是“完美”二字：完美的市场，完美的投资者，完美的投资商品。
2. CAPM的假设中是没税的，常见问题选项会说有固定税率。
例题：
The capital asset pricing model (CAPM) is based on several limiting assumptions. Which of the following statements is correct regarding the CAPM? The CAPM:
A. Does not assume that the expected excess returns for the market are known.
B. Assumes that the market portfolio should be the one with the highest Sharpe ratio of all possible portfolios.
C. Does not assume that investors have access to the same information.
D. Assumes that investors’ expectations regarding risk and return are not identical but normally distributed.
【正确答案】B
【答案分析】
The CAPM assumes that the market portfolio should be the portfolio with the highest Sharpe ratio of all possible portfolios and should include all investable assets. It also assumes that the expected excess returns for the market are assumed to be known in that investors have access to the same information. As well, it assumes that returns are normally distributed and investors’ expectations for risk and return are identical.
以上就是FRM一级风险管理基础重点大全-CAPM假设的有关内容，后期我们会持续给大伙更新有关重点知识，小伙伴们可以关注【备考经验】栏目查询！