2020年CFA考试《CFA三级》每日一练

2020年CFA考试《CFA三级》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、An investment management firm has been hired by ETV Corporation to work on an additional public offering for the company. The firm’s brokerage unit now has a “sell” recommendation on ETV, but the head of the investment banking department has asked the head of the brokerage unit to change the recommendation from “sell” to “buy.” According to the Standards, the head of the brokerage 【单选题】

A.Increase the recommendation by no more than one increment (in this case, to a “hold” recommendation).

B.Place the company on a restricted list and give only factual information about the company.

C.Assign a new analyst to decide if the stock deserves a higher rating.

正确答案:B

答案解析:The correct answer is B. This question relates to Standard I(B)—Independence and Objectivity. When asked to change a recommendation on a company stock to gain business for the firm, the head of the brokerage unit must refuse in order to maintain his independence and objectivity in making recommendations. He must not yield to pressure by the firm’s investment banking department. To avoid the appearance of a conflict of interest, the firm should discontinue issuing recommendations about the company. Answer A is incorrect; changing the recommendation in any manner that is contrary to the analyst’s opinion violates the duty to maintain independence and objectivity. Answer C is incorrect because merely assigning a new analyst to decide whether the stock deserves a higher rating will not address the conflict of interest.

2、The type of life insurance most appropriate for Perrin is:【单选题】

A.term.

B.universal.

C.whole life.

正确答案:B

答案解析:B is correct. Perrin’s estate distribution plan indicates a need for estate liquidity funded by 

3、Is the notional principal of the swap Watanabe recommends to Kondo most likely correct?【单选题】

A.Yes

B.No, it is too low

C.No, it is too high

正确答案:C

答案解析:

4、【单选题】

A.Strategy 1

B.Strategy 2

C.Strategy 3

正确答案:B

答案解析:B is correct. In a stable yield curve environment, holding bonds with higher convexity negatively affects portfolio 

5、【单选题】

A.Blackmore is on the board of 7MOD7.

B.

C.

正确答案:C

答案解析:This question is related to Disclosure of Conflicts. Blackmore's relationship with the 7MOD7 Corporation must be disclosed