【每日一练】CFA 一级（2015年）

Question：

If a stock's continuously compounded return is normally distributed, then the distribution of the future stock price is best described as being: 
A. a Student's t.
B. lognormal. 
C. normal. 

Answer = B 
If a stock's continuously compounded return is normally distributed, then the future stock price is necessarily lognormally distributed. 

CFA Level I 
"Common Probability Distributions," Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, and 
David E. Runkle 
Section 3.4 

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