cfa一级真题及答案.docVIP

cfa一级真题及答案

一、单项选择题（总共10题，每题2分）

1.Whichofthefollowingisacharacteristicofaprimarymarket?

A.Itiswheresecuritiesaretradedbetweeninvestors.

B.Itiswherecompaniesissuenewsecuritiestothepublic.

C.ItisregulatedbytheSecuritiesandExchangeCommission.

D.Itisknownforhighliquidity.

答案：B

2.Theprocessofevaluatingthefinancialperformanceofacompanyisbestdescribedas:

A.Capitalbudgeting.

B.Financialstatementanalysis.

C.Workingcapitalmanagement.

D.Riskmanagement.

答案：B

3.Whichofthefollowingisacomponentoftheweightedaveragecostofcapital(WACC)?

A.Costofpreferredstock.

B.Costofretainedearnings.

C.Costofdebt.

D.Alloftheabove.

答案：D

4.Thesinkingfundprovisioninabondisdesignedto:

A.Reducetheinterestrate.

B.Increasethebondsyield.

C.Provideasourceoffundstoretirethebond.

D.Increasethebondsmaturity.

答案：C

5.Whichofthefollowingisameasureofacompanysabilitytomeetitsshort-termobligations?

A.Debt-to-equityratio.

B.Currentratio.

C.Returnonequity.

D.Price-to-earningsratio.

答案：B

6.Theefficientmarkethypothesissuggeststhat:

A.Marketpricesreflectallavailableinformation.

B.Marketpricesareinfluencedbyinvestorsentiment.

C.Marketpricesarealwaysovervalued.

D.Marketpricesarealwaysundervalued.

答案：A

7.Whichofthefollowingisatypeofderivativesecurity?

A.Commonstock.

B.Bond.

C.Option.

D.Preferredstock.

答案：C

8.Thecapitalassetpricingmodel(CAPM)isusedto:

A.Determinethemarketriskpremium.

B.Calculatethebetaofastock.

C.Estimatetherequiredrateofreturn.

D.Alloftheabove.

答案：D

9.Whichofthefollowingisacharacteristicofamutualfund?

A.Itismanagedbyasingleinvestmentprofessional.

B.Itpoolsmoneyfrommultipleinvestors.

C.Ithasafixedinvestmenthorizon.

D.Itisnotsubjecttoregulatoryoversight.

答案：B

10.Theprocessofdiversifyinginvestmentsacrossvariousassetsisknownas:

A.Asset