2020年CFA考试《CFA二级》每日一练

2020年CFA考试《CFA二级》考试共240题，分为单选题。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、Townsend was recently appointed to the board of directors of a youth golf program that is the local chapter of a national not-for-profit organization. The program is beginning a new fund-raising campaign to expand the number of annual scholarships it provides. Townsend believes many of her clients make annual donations to charity. The next week in her regular newsletter to all clients, she includes a small section discussing the fundraising campaign and her position on the organization’s board.【单选题】

A.Townsend did not violate the Code and Standards.

B.Townsend violated the Code and Standards by soliciting donations from her clients through the newsletter.

C.Townsend violated the Code and Standards by not getting approval of the organization before soliciting her clients.

正确答案:A

答案解析:Answer A is correct. Townsend has not provided any information about her clients to the leaders or managers of the golf program; thus, she has not violated Standard III(E) –Preservation of Confidentiality. Providing contact information about her clients for a direct-mail solicitation would have been a violation. Answer B is incorrect because the notice in the newsletter does not violate Standard III(E). Answer C is incorrect because the golf program’s fund-raising campaign had already begun, so discussing the opportunity to donate was appropriate.

2、Statement 2 in Exhibit 1 is most accurately described as:【单选题】

A.incremental VaR.

B.conditional VaR.

C.marginal VaR.

正确答案:B

答案解析:The estimated loss under the condition that VaR has been exceeded is known as conditional VaR.

3、Suppose all three managers claim to be good at forecasting returns. According to the full fundamental law of active management, which manager is the best at efficiently building?【单选题】

A.Manager 1

B.Manager 2

C.Manager 3

正确答案:C

答案解析:C is correct. The proper statistic to calculate is the information coefficient, and it is defined as follows:

4、The aspect of the Basel III framework that Johansson describes to Smith relates to minimum:【单选题】

A.capital requirements.

B.liquidity requirements.

C.amounts of stable funding requirements.

正确答案:A

答案解析:A is correct. Basel III specifies the minimum percentage of its risk-weighted assets that a bank must fund with equity capital. This minimum funding requirement prevents a bank from assuming so much financial leverage that it is unable to withstand loan losses or asset write-downs.

5、As of December 31, 20X8, the pension plan would be reflected on Iron Parts's balance sheet as a:【单选题】

A.$175 million liability.

B.

C.$183 million asset.

正确答案:B

答案解析:Funded status equals fair value of plan assets minus PBO (395 - 635 = - 240). Because the funded status is negative, Iron Parts would report a liability of $240 million.