小编导读：FRM冲刺阶段，做模拟全真练习，对考试非常有帮助。高顿网校精品题库，包含历年真题，模拟试题等题型，题题结合考试大纲贴近考试考点，帮助考生熟练知识点。马上开始做题>>　　Which of the following is the first step in creating a simulated portfolio value distribution at the end of the investment horizon and computing the resulting VAR using Monte Carlo simulation?
　　A. Select a distribution from which to draw random variables.
　　B. Specify the VAR parameters.
　　C. Identify relevant market factors.
　　D. Choose a stochastic process and its parameters.
　　Answer:D
　　There are four steps in creating a simulated portfolio value distribution at the end of the investment horizon and the resulting VAR using Monte Carlo simulation.
　　Step 1: Choose a stochastic process and its parameters.
　　Step 2: Generate a pseudosequence of random variables and use these as inputs to the model to simulate a price path.
　　Step 3: Calculate the asset value for this price path at the end of the investment horizon.
　　Step 4: Run a large number of iterations of steps 2 and 3.