{"id":10511,"date":"2026-09-19T23:43:08","date_gmt":"2026-09-19T14:43:08","guid":{"rendered":"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g2-pm-21\/"},"modified":"2026-09-20T00:19:14","modified_gmt":"2026-09-19T15:19:14","slug":"g2-pm-21","status":"publish","type":"post","link":"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g2-pm-21\/","title":{"rendered":"\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6\u3068\u306f\uff1f\u610f\u5473\u3068\u8a66\u9a13\u3067\u554f\u308f\u308c\u308b\u30dd\u30a4\u30f3\u30c8\uff5c\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c82\u6b21\u30fb\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8"},"content":{"rendered":"<style>.cma-tbl{margin:1.2em 0 1.6em;overflow-x:auto;-webkit-overflow-scrolling:touch;border-radius:8px;box-shadow:0 1px 4px rgba(34,0,94,.12);}.cma-tbl table{width:100%;border-collapse:collapse!important;margin:0!important;font-size:15px;line-height:1.6;background:#fff;border:none!important;}.cma-tbl th,.cma-tbl td{padding:10px 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class=\"cma-answer-title\">\u3072\u3068\u3053\u3068\u3067\u8a00\u3046\u3068<\/p>\n<ul>\n<li><strong>\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6<\/strong>\u3068\u306f\u3001\u6295\u8cc7\u5bb6\u304c\u3069\u306e\u7a0b\u5ea6\u306e\u640d\u5931\u3084\u4fa1\u683c\u5909\u52d5\u306b\u8010\u3048\u3089\u308c\u308b\u304b\u3092\u8868\u3059\u3082\u306e\u3067\u3001\u30ea\u30b9\u30af\u7ba1\u7406\u306e\u76ee\u6a19\u3084\u4e0a\u9650\u3092\u6c7a\u3081\u308b\u51fa\u767a\u70b9\u306b\u306a\u308a\u307e\u3059\u3002<\/li>\n<li>\u5ba2\u89b3\u7684\u306a\u300c<strong>\u30ea\u30b9\u30af\u3092\u53d6\u308b\u80fd\u529b<\/strong>\u300d\u3068\u4e3b\u89b3\u7684\u306a\u300c<strong>\u30ea\u30b9\u30af\u3092\u53d6\u308b\u610f\u601d<\/strong>\u300d\u306e\u4e21\u9762\u304b\u3089\u5224\u65ad\u3057\u3001\u98df\u3044\u9055\u3046\u3068\u304d\u306f\u539f\u5247\u3068\u3057\u3066\u4f4e\u3044\u307b\u3046\u306b\u5408\u308f\u305b\u307e\u3059\u3002<\/li>\n<li>\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6\u306f\u3001\u8a31\u5bb9\u640d\u5931\u984d\u3001\u30b7\u30e7\u30fc\u30c8\u30d5\u30a9\u30fc\u30eb\u78ba\u7387\u3001VaR\u306e\u4e0a\u9650\u306a\u3069\u306e\u5177\u4f53\u7684\u306a\u6570\u5024\u306b\u7f6e\u304d\u63db\u3048\u3066\u7ba1\u7406\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/div>\n<p>\u3053\u306e\u8a18\u4e8b\u3067\u306f\u3001\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c82\u6b21\u300c\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u300d\u306e\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8\u306e\u3072\u3068\u3064\u300c\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6\u3068\u30ea\u30b9\u30af\u7ba1\u7406\u300d\u306b\u3064\u3044\u3066\u3001\u610f\u5473\u3068\u8a66\u9a13\u3067\u554f\u308f\u308c\u3084\u3059\u3044\u30dd\u30a4\u30f3\u30c8\u3092\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n<div class=\"cma-tbl kv\">\n<table>\n<tbody>\n<tr>\n<th>\u5206\u91ce<\/th>\n<td>2\u6b21 \u8a3c\u5238\u5206\u6790\u3068\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\uff0f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8<\/td>\n<\/tr>\n<tr>\n<th>\u5927\u5206\u985e<\/th>\n<td>(3) \u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u69cb\u7bc9\u3068\u30ea\u30b9\u30af\u7ba1\u7406<\/td>\n<\/tr>\n<tr>\n<th>\u5354\u4f1a\u306e\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8<\/th>\n<td>\u6295\u8cc7\u5bb6\u306e\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6\u3068\u30ea\u30b9\u30af\u7ba1\u7406\u3068\u306e\u95a2\u9023\u3092\u7406\u89e3\u3059\u308b\u3002<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2>\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6\u3068\u306f<\/h2>\n<p>\u30ea\u30b9\u30af\u7ba1\u7406\u306f\u300c\u3069\u3053\u307e\u3067\u306e\u30ea\u30b9\u30af\u306a\u3089\u53d6\u3063\u3066\u3088\u3044\u304b\u300d\u3068\u3044\u3046\u57fa\u6e96\u304c\u306a\u3051\u308c\u3070\u59cb\u307e\u308a\u307e\u305b\u3093\u3002\u305d\u306e\u57fa\u6e96\u3068\u306a\u308b\u306e\u304c\u6295\u8cc7\u5bb6\u306e<strong>\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6<\/strong>\u3067\u3059\u3002\u540c\u3058\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3067\u3082\u3001\u3042\u308b\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306f\u9069\u5207\u3001\u5225\u306e\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306f\u5371\u967a\u3059\u304e\u308b\u3068\u3044\u3046\u3053\u3068\u304c\u8d77\u3053\u308b\u306e\u306f\u3001\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6\u304c\u6295\u8cc7\u5bb6\u3054\u3068\u306b\u7570\u306a\u308b\u305f\u3081\u3067\u3059\u3002<\/p>\n<h3>\u30ea\u30b9\u30af\u3092\u53d6\u308b\u80fd\u529b\u3068\u610f\u601d<\/h3>\n<ul>\n<li><strong>\u30ea\u30b9\u30af\u3092\u53d6\u308b\u80fd\u529b\uff08ability\uff09<\/strong>\uff1a\u8ca1\u52d9\u7684\u306a\u72b6\u6cc1\u304b\u3089\u5ba2\u89b3\u7684\u306b\u6c7a\u307e\u308b\u90e8\u5206\u3067\u3059\u3002\u6295\u8cc7\u671f\u9593\u306e\u9577\u3055\u3001\u8cc7\u7523\u306e\u898f\u6a21\u3001\u53ce\u5165\u3084\u8ca0\u50b5\u306e\u72b6\u6cc1\u3001\u6d41\u52d5\u6027\u30cb\u30fc\u30ba\u3001\u5e74\u91d1\u3067\u3042\u308c\u3070\u7a4d\u7acb\u72b6\u6cc1\uff08\u7a4d\u7acb\u6bd4\u7387\uff09\u3084\u6bcd\u4f53\u4f01\u696d\u306e\u8ca1\u52d9\u529b\u306a\u3069\u304c\u5f71\u97ff\u3057\u307e\u3059\u3002\u6295\u8cc7\u671f\u9593\u304c\u9577\u3044\u3001\u8cc7\u7523\u306b\u4f59\u88d5\u304c\u3042\u308b\u3001\u76ee\u6a19\u306b\u5bfe\u3057\u3066\u7a4d\u7acb\u304c\u5341\u5206\u3067\u3042\u308b\u307b\u3069\u3001\u80fd\u529b\u306f\u9ad8\u304f\u306a\u308a\u307e\u3059\u3002<\/li>\n<li><strong>\u30ea\u30b9\u30af\u3092\u53d6\u308b\u610f\u601d\uff08willingness\uff09<\/strong>\uff1a\u6295\u8cc7\u5bb6\u306e\u5fc3\u7406\u7684\u306a\u59ff\u52e2\u3067\u3001\u904e\u53bb\u306e\u7d4c\u9a13\u3084\u6027\u683c\u3001\u7d44\u7e54\u306e\u610f\u601d\u6c7a\u5b9a\u306e\u6587\u5316\u306a\u3069\u304c\u5f71\u97ff\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<p>\u80fd\u529b\u306f\u9ad8\u3044\u304c\u610f\u601d\u304c\u4f4e\u3044\u5834\u5408\u306f\u3001\u6295\u8cc7\u5bb6\u3078\u306e\u8aac\u660e\u306b\u3088\u3063\u3066\u610f\u601d\u3092\u9ad8\u3081\u308b\u4f59\u5730\u304c\u3042\u308b\u3082\u306e\u306e\u3001\u6700\u7d42\u7684\u306b\u306f\u610f\u601d\u306b\u914d\u616e\u3057\u307e\u3059\u3002\u610f\u601d\u306f\u9ad8\u3044\u304c\u80fd\u529b\u304c\u4f4e\u3044\u5834\u5408\u306f\u3001\u80fd\u529b\u306b\u5408\u308f\u305b\u3066\u30ea\u30b9\u30af\u3092\u6291\u3048\u308b\u306e\u304c\u539f\u5247\u3067\u3059\u3002<\/p>\n<h3>\u30ea\u30b9\u30af\u7ba1\u7406\u3068\u306e\u7d50\u3073\u3064\u304d<\/h3>\n<p>\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6\u306f\u62bd\u8c61\u7684\u306a\u8003\u3048\u65b9\u306e\u307e\u307e\u3067\u306f\u7ba1\u7406\u306b\u4f7f\u3048\u307e\u305b\u3093\u3002\u305d\u3053\u3067\u3001\u300c1\u5e74\u9593\u306e\u640d\u5931\u3092\u8cc7\u7523\u306e10\uff05\u4ee5\u5185\u306b\u6291\u3048\u305f\u3044\u300d\u300c\u7a4d\u7acb\u6bd4\u7387\u304c\u4e00\u5b9a\u6c34\u6e96\u3092\u4e0b\u56de\u308b\u78ba\u7387\u30925\uff05\u4ee5\u4e0b\u306b\u3057\u305f\u3044\u300d\u3068\u3044\u3063\u305f\u5f62\u3067\u3001<strong>\u8a31\u5bb9\u640d\u5931\u984d\u3001\u30b7\u30e7\u30fc\u30c8\u30d5\u30a9\u30fc\u30eb\u78ba\u7387\u3001VaR\u306e\u4e0a\u9650\u3001\u30c8\u30e9\u30c3\u30ad\u30f3\u30b0\u30a8\u30e9\u30fc\u306e\u4e0a\u9650<\/strong>\u306a\u3069\u306e\u6570\u5024\u306b\u7f6e\u304d\u63db\u3048\u307e\u3059\u3002\u3053\u308c\u304c\u8cc7\u7523\u914d\u5206\u306e\u9078\u629e\u3001\u30ea\u30b9\u30af\u4e88\u7b97\u306e\u914d\u5206\u3001\u30e2\u30cb\u30bf\u30ea\u30f3\u30b0\u306e\u57fa\u6e96\u306b\u306a\u308a\u307e\u3059\u3002\u5e74\u91d1\u3067\u306f\u3001\u8ca0\u50b5\u3068\u306e\u95a2\u4fc2\u3067\u30ea\u30b9\u30af\u3092\u6e2c\u308b\u30b5\u30fc\u30d7\u30e9\u30b9\uff08\u8cc7\u7523\u2212\u8ca0\u50b5\uff09\u306e\u30ea\u30b9\u30af\u3067\u8a31\u5bb9\u5ea6\u3092\u8003\u3048\u308b\u3053\u3068\u3082\u91cd\u8981\u3067\u3059\u3002<\/p>\n<h2>\u62bc\u3055\u3048\u3066\u304a\u304d\u305f\u3044\u516c\u5f0f<\/h2>\n<div class=\"cma-formula\">\u30b7\u30e7\u30fc\u30c8\u30d5\u30a9\u30fc\u30eb\u78ba\u7387 \uff1d P\uff08R \uff1c R<sub>L<\/sub>\uff09 \uff1d N\uff08\uff08R<sub>L<\/sub> \u2212 E\uff08R\uff09\uff09 \u00f7 \u03c3\uff09<small>\u30ea\u30bf\u30fc\u30f3\u304c\u6b63\u898f\u5206\u5e03\u306b\u5f93\u3046\u3068\u4eee\u5b9a\u3057\u305f\u5834\u5408\u3002R<sub>L<\/sub>\uff1a\u8a31\u5bb9\u3067\u304d\u308b\u6700\u4f4e\u30ea\u30bf\u30fc\u30f3\u3001N\uff1a\u6a19\u6e96\u6b63\u898f\u5206\u5e03\u306e\u7d2f\u7a4d\u5206\u5e03\u95a2\u6570<\/small><\/div>\n<div class=\"cma-formula\">\u5b89\u5168\u7b2c\u4e00\u6bd4\u7387 \uff1d \uff08E\uff08R\uff09 \u2212 R<sub>L<\/sub>\uff09 \u00f7 \u03c3<small>\u3053\u306e\u6bd4\u7387\u304c\u5927\u304d\u3044\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u307b\u3069\u3001\u30b7\u30e7\u30fc\u30c8\u30d5\u30a9\u30fc\u30eb\u78ba\u7387\u304c\u5c0f\u3055\u3044\uff08\u30ed\u30a4\u306e\u5b89\u5168\u7b2c\u4e00\u57fa\u6e96\uff09<\/small><\/div>\n<h2>\u5177\u4f53\u4f8b\u3067\u78ba\u8a8d<\/h2>\n<p>\u3042\u308b\u6295\u8cc7\u5bb6\u306f\u300c1\u5e74\u9593\u306e\u30ea\u30bf\u30fc\u30f3\u304c\u221210\uff05\u3092\u4e0b\u56de\u308b\u78ba\u7387\u30925\uff05\u4ee5\u4e0b\u306b\u3057\u305f\u3044\u300d\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002\u30ea\u30bf\u30fc\u30f3\u306f\u6b63\u898f\u5206\u5e03\u306b\u5f93\u3046\u3068\u3057\u307e\u3059\u3002<\/p>\n<ul>\n<li><strong>\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aaA<\/strong>\uff08\u671f\u5f85\u30ea\u30bf\u30fc\u30f34\uff05\u3001\u6a19\u6e96\u504f\u5dee8\uff05\uff09\uff1a\u5b89\u5168\u7b2c\u4e00\u6bd4\u7387\uff1d\uff084\u2212\uff08\u221210\uff09\uff09\u00f78\uff1d1.75\u3002\u30b7\u30e7\u30fc\u30c8\u30d5\u30a9\u30fc\u30eb\u78ba\u7387\u2252<strong>4.0\uff05<\/strong>\u3067\u3001\u8a31\u5bb9\u7bc4\u56f2\u5185\u3067\u3059\u3002<\/li>\n<li><strong>\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aaB<\/strong>\uff08\u671f\u5f85\u30ea\u30bf\u30fc\u30f36\uff05\u3001\u6a19\u6e96\u504f\u5dee12\uff05\uff09\uff1a\u5b89\u5168\u7b2c\u4e00\u6bd4\u7387\uff1d16\u00f712\u22521.33\u3002\u30b7\u30e7\u30fc\u30c8\u30d5\u30a9\u30fc\u30eb\u78ba\u7387\u2252<strong>9.1\uff05<\/strong>\u3067\u3001\u8a31\u5bb9\u7bc4\u56f2\u3092\u8d85\u3048\u307e\u3059\u3002<\/li>\n<\/ul>\n<p>\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u306fB\u306e\u307b\u3046\u304c\u9ad8\u3044\u3082\u306e\u306e\u3001\u3053\u306e\u6295\u8cc7\u5bb6\u306e\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6\u306b\u7167\u3089\u3059\u3068A\u304c\u9069\u5207\u3068\u5224\u65ad\u3067\u304d\u307e\u3059\u3002<\/p>\n<div class=\"cma-exam\">\n<p class=\"cma-exam-title\">\u8a66\u9a13\u3067\u554f\u308f\u308c\u3084\u3059\u3044\u30dd\u30a4\u30f3\u30c8<\/p>\n<ul>\n<li>\u30ea\u30b9\u30af\u3092\u53d6\u308b\u80fd\u529b\u3068\u610f\u601d\u306e\u533a\u5225\u3068\u3001\u305d\u308c\u305e\u308c\u306e\u6c7a\u5b9a\u8981\u56e0\uff08\u6295\u8cc7\u671f\u9593\u3001\u8cc7\u7523\u898f\u6a21\u3001\u6d41\u52d5\u6027\u30cb\u30fc\u30ba\u3001\u7a4d\u7acb\u72b6\u6cc1\u306a\u3069\uff09\u3002<\/li>\n<li>\u80fd\u529b\u3068\u610f\u601d\u304c\u98df\u3044\u9055\u3046\u5834\u5408\u306e\u8003\u3048\u65b9\uff08\u539f\u5247\u3068\u3057\u3066\u4f4e\u3044\u307b\u3046\u306b\u5408\u308f\u305b\u308b\uff09\u3002<\/li>\n<li>\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6\u3092\u3001\u8a31\u5bb9\u640d\u5931\u984d\u3001\u30b7\u30e7\u30fc\u30c8\u30d5\u30a9\u30fc\u30eb\u78ba\u7387\u3001VaR\u306a\u3069\u306e\u5177\u4f53\u7684\u306a\u6307\u6a19\u306b\u843d\u3068\u3057\u8fbc\u3080\u3053\u3068\u3002<\/li>\n<li>\u30b7\u30e7\u30fc\u30c8\u30d5\u30a9\u30fc\u30eb\u78ba\u7387\u3084\u5b89\u5168\u7b2c\u4e00\u6bd4\u7387\u306e\u8a08\u7b97\u3068\u3001\u305d\u308c\u3092\u4f7f\u3063\u305f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u9078\u629e\u3002<\/li>\n<li>2\u6b21\u306e\u8a18\u8ff0\u5f0f\u3067\u306f\u3001\u6295\u8cc7\u5bb6\u306e\u72b6\u6cc1\u304b\u3089\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6\u306e\u9ad8\u4f4e\u3092\u5224\u65ad\u3057\u3001\u305d\u306e\u7406\u7531\u3092\u8aac\u660e\u3055\u305b\u308b\u5f62\u304c\u8003\u3048\u3089\u308c\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/div>\n<h2>\u8981\u70b9\u307e\u3068\u3081<\/h2>\n<ul>\n<li>\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6\u306f\u30ea\u30b9\u30af\u7ba1\u7406\u306e\u76ee\u6a19\u30fb\u4e0a\u9650\u3092\u6c7a\u3081\u308b\u51fa\u767a\u70b9\u3002<\/li>\n<li>\u5ba2\u89b3\u7684\u306a\u300c\u80fd\u529b\u300d\u3068\u4e3b\u89b3\u7684\u306a\u300c\u610f\u601d\u300d\u306e\u4e21\u9762\u304b\u3089\u8a55\u4fa1\u3059\u308b\u3002<\/li>\n<li>\u8a31\u5bb9\u640d\u5931\u984d\u3001\u30b7\u30e7\u30fc\u30c8\u30d5\u30a9\u30fc\u30eb\u78ba\u7387\u3001VaR\u306e\u4e0a\u9650\u306a\u3069\u306e\u6570\u5024\u306b\u7f6e\u304d\u63db\u3048\u3066\u7ba1\u7406\u3059\u308b\u3002<\/li>\n<li>\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u304c\u9ad8\u304f\u3066\u3082\u3001\u8a31\u5bb9\u5ea6\u3092\u8d85\u3048\u308b\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306f\u9078\u3070\u306a\u3044\u3002<\/li>\n<\/ul>\n<div 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