2020年CFA考試《CFA三級(jí)》考試共題，分為。小編每天為您準(zhǔn)備了5道每日一練題目（附答案解析），一步一步陪你備考，每一次練習(xí)的成功，都會(huì)淋漓盡致的反映在分?jǐn)?shù)上。一起加油前行。

1、Is Prater's first statement regarding the Cobb-Douglas production function correct?【單選題】

A.Yes.

B.

C.

正確答案:B

答案解析:

2、Duke's response to Question 1 would least likely include that:【單選題】

A.managed futures have a low cost structure.

B.the index fund only earns the risk-free rate minus costs in the long term.

C.managed futures take advantage of rising and falling markets.

正確答案:A

答案解析:Managed futures do not have a low cost structure. The compensation arrangement for managed futures is similar to hedge funds. Thus, it is not true to say that they have a low cost structure compared with index funds.

3、【單選題】

A.disassociate from Blackmore’s activities.

B.

C.

正確答案:A

答案解析:Blackmore's use of derivatives without knowing whether they are allowed according to the Plan's IPS is a violation of Loyalty, 

4、【單選題】

A.Yes.

B.No, because their time horizon issues are different.

C.No, because their liquidity needs are not different.

正確答案:B

答案解析:B is correct. Private clients have different time horizon issues compared to institutional investors such as pension funds. The partner 

5、【單選題】

A.notional principal amount.

B.fixed interest rate to be paid.

C.floating interest rate to be received.

正確答案:B

答案解析: