2020年CFA考试《CFA二级》每日一练
2020年CFA考试《CFA二级》考试共题，分为。小编每天为您准备了5道每日一练题目（附答案解析），一步一步陪你备考，每一次练习的成功，都会淋漓尽致的反映在分数上。一起加油前行。
1、Based on the information in Exhibit 2, the value of Bond C is most likely:【单选题】
A.$99.50.
B.between $99.50 and $100.69.
C.$100.69.
正确答案:C
答案解析:The value of a 3-year bond extendible by one year is equal to an otherwise identical 4-year bond that is puttable in three years. Accordingly, the value of bonds B and C should be the same.
2、The best rationale for Quinni’s caution about the three-variable model is that the:【单选题】
A.dependent variable is defined differently.
B.sample sizes are different in the two models.
C.dividend growth rate is positively correlated with the other independent variables.
正确答案:B
答案解析:B is correct. If we use adjusted R2 to compare regression models, it is important that the dependent variable be defined the same way in both models and that the sample sizes used to estimate the models are the same. Varden’s first model was based on 40 observations, whereas the second model was based on 500.
3、After adjusting the Globales, Inc. income statement for the two possible misstatements, the decline in net income is closest to:【单选题】
A.EUR37.5 million.
B.EUR112.5 million.
C.EUR150.0 million.
正确答案:B
答案解析:B is correct. The correction of the revenue misstatement would result in lower revenue by EUR50 million, and the correction of the cost of revenue misstatement would result in higher cost of revenue by EUR100 million. The result is a reduction in pre-tax income of EUR150 million. Applying a tax rate of 25%, the reduction in net income would be 150 × (1 – 0.25) = EUR112.5 million.
4、Does Telline violate any CFA Institute Standards in his allocation of IPO shares to Caper’s account?【单选题】
A.No.
B.Yes, because the IPO is not suitable for Caper.
C.Yes, because he does not treat all his clients fairly.
正确答案:C
答案解析:C is correct. Telline violates Standard III(B)–Fair Dealing by over-allocating shares to Caper. Telline carefully reviews both the proposed IPO and his client accounts to determine suitability. He fails to allocate the IPO shares on a pro-rata basis to all clients for whom the investment is suitable.
5、The conversion price of the bond in Exhibit 3 is closest to:【单选题】
A.$26.67.
B.$32.26.
C.$34.19.
正确答案:B
答案解析:B is correct. The conversion price of a convertible bond is equal to the par value divided by the conversion ratio—that is, $1,000/31= $32.26 per share.