2022年CFA考试《CFA三级》章节练习题精选

2022年CFA考试《CFA三级》共240道单选题。帮考网为大家带来Risk Management5道练习题，附答案解析，供大家备考练习，做自我提升测试：

1、Based on Craig/////\\'s statement about types of traders ａｎｄ preferred ｏｒｃｅｒtypes, Placid/////\\'s preference is most likely a trader that is:【单选题】

A.information motivated.

B.value motivated.

C.liquidity motivated.

正确答案:B

答案解析:Value-motivated traders trade only when the price moves into their value range. Their motivation is to take advantage of perceived valuation errors. With respect to trade execution, their preference is price (versus time). They often use ｌｉｍｉｔorders.

2、The explicit cost component of the total implementation shortfall fｏｒthe Nano Corporation trade is closest to:【单选题】

A.0.15%.

B.0.25%.

C.0.35%.

正确答案:A

答案解析:Implementation shortfall can be decomposed into explicit costs, realized profit/loss, delay costs, ａｎｄ missed trade

3、DAM is most likely to be characterized as:【单选题】

A.

B.

C.

正确答案:A

答案解析:A is correct. Value-motivated traders are patient, infrequent traders driven by differences between

4、Based on Exhibit 1, the effective spread fｏｒthe ｅｘｅｃｕｔｅd ABC stock trade is most likely:【单选题】

A.equal to the quoted bid–ask spread.

B.greater than the quoted bid–ask spread.

C.less than the quoted bid–ask spread.

正确答案:C

答案解析:Effective spread is a measure of execution costs that captures both the effects of price improvements ａｎｄ market impact. The effective spread is two times the deviation of the actual execution price from the midpoint of the market quote at the time an ｏｒｃｅｒis entered.

5、Using the trade blotter provided in Exhibit 3, the implementation shortfall cost fｏｒthe GHI stock trade is closest to:【单选题】

A.86 bps.

B.119 bps.

C.91 bps.

正确答案:C

答案解析:Implementation shortfall is 91 bps ａｎｄ is calculated as follows.

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