CFA考试《CFA一级》历年真题精选及详细解析1006-54.docx

A. CFA考试〈〈CFA一级》历年真题精选及详细解析1006-54lxAnanalystdoesresearchaboutinvestmentreturn,Ifaninvestmentearns0.9%permonth,thenumberofmonthsitwilltakefortheinvestmenttotripleinvalueisclosestto:【单选题】1377123正确答案：c答案解析：，两边取Ln,计算出n二223o2、Companiespursuingcostleadershipwillmostlikely:【单选investinproductivity-improvingcapitalequipment?B. engageindefensivepricingwhenthecompetitiveenvironmentisoneofhighrivalry.C?establishstrongmarketresearchteamstomatchcustomerneedswithproductdevelopment正确答案：A答案解析："IntroductiontoIndustryandCompanyAnalysis/PatrickW?Dorsey,AnthonyM.Fiore,andIanRossaO〃Reilly2012ModularLevelI,Vol.5,pp.250-251StudySession14-51-kDescribetheelementsthatshouldbecoveredinathoroughcompanyanalysis.Aiscorrect?Companiespursuingcostleadershipmustbeabletoinvestinproductivity-improvingcapitalequipmentinordertobelow-costproducersandmaintainefficientoperatingsystems.A. 3xWhenarecreditspreadsmostlikelytonarrow?During:【单选题】economicexpansions?B?economiccontractions.C. aperiodofflighttoquality?正确答案：A答案解析："UnderstandingYieldSpreads/FrankJ-Fabozzi,CFA2013ModularLevelI,Vol.5,Reading55,Section4.3StudySession55-fDescribecreditspreadsandrelationshipsbetweencreditspreadsandeconomicconditions.Aiscorrect?Creditspreadsnarrowduringeconomicexpansionsandwidenduringeconomiccontractions?Duringaneconomicexpansion,corporaterevenuesandcashflowsrise,makingiteasierforcorporationstoservicetheirdebt,andinvestorspurchasecorporatesinsteadofTreasuries,thuscausingspreadstonarrow?4、Abondhasadurationof14.4andaconvexitymeasureof85」fyieldincreasesby75basispoints,thepercentagepricechangeisclosestto:【单选题】-5.16%-10.32%-11.28%正确答案：B答案解析：？14-4x0.0075+85x~-10.8%+0.48%=-10.32%5、Amarketindexonlycontainsthefollowingthreesecurities:WhichapproachtoindexingwillmostlikelygiveSecurityXaweightof18%?【单选题】A.PriceB?EqualC?Market-capitalization正确答案：c答案解析："SecurityMarketIndices/PaulD.Kaplan,CFA,andDorothyC.Kelly,CFA.2013ModularLevelI,Vol.5,Reading47,Section3.2StudySession13-47-d,eComparethedifferentweight!ngmethodsusedinindexconstruct!on?Calculateandanalyzethevalueandreturnofanindexonthebasisofitsweightingmethod.Ciscorrect.Percomputationsshownbelow,themarketcapitalizationindexwillgiveSecurityXthelowestweightintheindex?。