2020年CFA考试《CFA一级》章节练习题精选
2020年CFA考试《CFA一级》考试共240题，分为单选题。小编为您整理Quantitative Methods5道练习题，附答案解析，供您备考练习。
1、The 95% confidence interval for the sample mean is -4.56 to 3.27. The null hypothesis is that the sample mean is equal to zero. The alternative hypothesis is that the sample mean is not equal to zero (two-tail test). The null hypothesis most appropriately should be:【单选题】
A.rejected at a 2.5% level of significance.
B.rejected at a 5.0% level of significance.
C.accepted at a 5.0% level of significance.
正确答案:C
答案解析:“Hypothesis Testing,” Richard A. Defusco, CFA, Dennis W. McLeavey, CFA, Jerald E. Pinto, CFA, and David E. Runkle, CFA
2010 Modular Level I, Vol. 1, pp. 523-524
Study Session 3-11-c
Define and interpret a decision rule and the power of a test, and explain the relation between confidence intervals and hypothesis tests.
The 95% confidence interval contains the value zero. Thus, the null hypothesis cannot be rejected.
2、For planning purposes, an individual wants to be able to spend €80,000 per year, at the end of each year, for an anticipated 25 years in retirement. In order to fund this retirement account, he will make annual deposits of €6,608 at the end of each of his working years. What is the minimum number of such deposits he will need to make to fund his desired retirement? Use 6% interest compounded annually for all calculations.【单选题】
A.29 payments
B.40 payments
C.51 payments
正确答案:B
答案解析:“The Time Value of Money,” Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, and David E. Runkle
2012 Modular Level I, Vol. 1, pp. 290–292
Study Session 2-5-e, f
Calculate and interpret the future value (FV) and present value (PV) of a single sum of money, an ordinary annuity, an annuity due, a perpetuity (PV only), and a series of unequal cash flows.
Demonstrate the use of a time line in modeling and solving time value of money problems.
B is correct. Using a financial calculator, first calculate the needed funds at retirement:
N = 25, I/Y = 6, PMT = 80,000, FV = 0; calculate PV to be 1,022,668.
Then use 1,022,668 as the FV of the accumulation phase annuity as per:
I/Y = 6, PV = 0, PMT = 6,608, FV = 1,022,668; calculate N. N is 40.
3、If a probability distribution is very similar to a normal distribution, then the kurtosis is best described as:【单选题】
A.leptokurtic.
B.mesokurtic.
C.platykurtic.
正确答案:B
答案解析:“Statistical Concepts and Market Returns,” Richard A. Defusco, CFA, Dennis W. McLeavey, CFA, Jerald E. Pinto, CFA, and David E. Runkle, CFA
2010 Modular Level I, Vol. 1, page 330
Study Session 2-7-k
Define and interpret measures of sample skewness and kurtosis.Normal distributions are mesokurtic. Leptokurtic distributions are more peaked than normal distributions while platykurtic distributions are less peaked than normal distributions.
4、An energy analyst forecasts that the price per barrel of crude oil five years from now will range between USD$175 and USD$205. Assume oil prices are a continuous uniform distribution. Recall that the cumulative distribution function for a continuous uniform variable is:
The probability (in %) that the price will be less than USD$180 five years from now is closest to:【单选题】
A.5.6.
B.16.7.
C.44.4.
正确答案:B
答案解析:“Common Probability Distributions,” Richard A. Defusco, CFA, Dennis W.McLeavey, CFA, Jerald E. Pinto, CFA, and David E. Runkle, CFA
2010 Modular Level I, Vol. 1, pp. 435-439
Study Session 3-9-h
Describe the continuous uniform distribution, and calculate and interpret probabilities, given a continuous uniform probability distribution.
The probability that the price per barrel of crude oil five years from now will be less than USD$80 (F(80)):
5、An analyst does research about compounding rate of return.An investor makesthe following beginning-of-quarter deposit into an account with an initial balanceof $0.
If the account earns a stated rate of return 8% per year compounded quarterly,the value of this account at the end of Quarter 4 is closest to:【单选题】
A.$ 57 336
B.$ 58 483
C.$ 69 972
正确答案:B
答案解析:25 000 × =27 061 + 15 918 + 10 404 + 5 100 = 58 483。