单选题 A distribution with a mean that is less than its median is most likely:

A、

A. is negatively skewed.
B、

B. is positively skewed.
C、

C. has negative excess kurtosis.

【正确答案】 A

【答案解析】A distribution with a mean that is less than its median is a negatively skewed distribution. A negatively skewed distribution is characterized by many small gains and a few extreme losses. Note that kurtosis is a measure of the peakedness of a return distribution.