2019年CFA考試《CFA一級》考試共240題，分為單選題。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，都會淋漓盡致的反映在分?jǐn)?shù)上。一起加油前行。

1、A company’s taxable income is 17.1% of sales. Assuming taxes of 42% and a dividend payout of 50%, the net profit margin is closest to:【單選題】

A.5.0%.

B.7.2%.

C.9.9%.

正確答案:C

答案解析:“Financial Statement Analysis,” Pamela Peterson Drake

2、Which of the following embedded options most likely provides a right to the issuer?【單選題】

A.Call feature

B.Conversion provision

C.Put feature

正確答案:A

答案解析:The right to call the issue is beneficial to the issuer when interest rates fall.Section 6.3.5

3、With respect to the Standards of Professional Conduct relating to reference toCFA Institute, the CFA Designation and the CFA Program, which of the followingis least likely a proper reference to the CFA Designation?【單選題】

A.CFA, 2012, CFA Institute.

B.I passed all three levels of the CFA Program and will be eligible for theCFA charter upon completion of the required work experience.

C.Gordon and Mandeville are the only CFAs in our company.

正確答案:C

答案解析:CFA只可以作為形容詞，不可以作為名詞，所以C錯。A是說他是在2012年獲得了CFA協(xié)會頒發(fā)的CFA資格，是正確的表達(dá)。B也是正確表達(dá)。

4、With respect to the Standards of Professional Conduct relating to priority of transaction,which of the following prerequisites is least accurate when conflicts between theclient's interests and an investment professional's personal interests occur?【單選題】

A.The client is not disadvantaged by the trade taken for the investment professional.

B.The investment professional doesn't enter into personal transaction that runcounter to current clients' holdings.

C.The investment professional complies with applicable regulatory requirements.

正確答案:B

答案解析:在優(yōu)先交易權(quán)里并沒有規(guī)定CFA會員和考生不能參與與當(dāng)前客戶配置反向的個人交易。但是，如果客戶與個人交易有沖突，則必須滿足以下3個先決條件：（1）客戶不被個人交易損害；（2） CFA會員不通過為客戶交易謀取自己的私利；（3） CFA會員遵守了所適用的法律、法規(guī)的要求。滿足這3個條件后，個人可以從事相關(guān)交易。

5、An analyst does research about the income elasticity of demand.As income risesfrom $500 per week to $1 500 per week, the quantity demanded for a product increasesfrom 1 100 units to 1 500 units, the income elasticity of demand is closest to:【單選題】

A.0.25

B.0.31

C.0.40

正確答案:B

答案解析:[（1 500 - 1 100）/（1 500 + 1100）/2]/[（$1 500 - $500）/（$1 500 + $500）/2] =0.3077/1 = 0.3077。