2020年CFA考试《CFA一级》考试共240题，分为单选题。小编每天为您准备了5道每日一练题目（附答案解析），一步一步陪你备考，每一次练习的成功，都会淋漓尽致的反映在分数上。一起加油前行。

1、An analyst has compiled the following information on a company:


The amount of dividends declared (￡ ‘000s) during the year is closest to:【单选题】

A.150.

B.300.

C.650.

正确答案:C

答案解析:“Financial Reporting Mechanics,” Thomas R. Robinson, CFA, Jan Hendrik van Greuning, CFA, Karen O’Connor Rubsam, CFA, Elaine Henry, CFA, and Michael A. Broihahn, CFA
2013 Modular Level I, Vol.3, Reading 23, Section 3.2, Example 3
Study Session 7-23-b
Explain the accounting equation in its basic and expanded form.
C is correct.

2、The supply curve for a particular factor of production with total income consisting solely of economic rent is most likely:【单选题】

A.vertical.

B.horizontal.

C.perfectly elastic.

正确答案:A

答案解析:“Markets for Factors of Production,” Michael Parkin
2011 Modular Level I, Vol. 2, pp. 292-293
Study Session 5-21-h
Differentiate between economic rent and opportunity costs.
When the total income of a factor of production consists solely of economic rent, it indicates that the factor has perfectly inelastic supply. For perfectly inelastic supply, the supply curve is a vertical line.

3、An analyst gets the following information which are related to a company's inventorycosts:

Total inventorycosts are closest to:【单选题】

A.$ 6 090 000

B.$ 6 171 000

C.$ 6 227 000

正确答案:A

答案解析:存货成本（inventory cost）包括两大类：产品成本（product cost）和期间成本（periodcost），前者要求资本化计入存货账户（inventory account），后者要求费用化加入当期损益表。
产品成本包括：
·Purchase cost less trade discounts and rebates.（减去交易折才口和返利后的采购成本）
·Conversion costs including labor and overhead.（包括劳动力和管理费用的转换成本）
·Other costs necessary to bring the inventory to its present location and conditions.（其他必要的将存货运至当前位置和状态的成本）
期间成本包括：
·Abnormal costs (waste of materials and labor).[非正常成本（原材料和劳动力损耗）]
·Storage costs.（存储成本）
·Administrative overhead.（管理费用）
·Selling costs.（销售成本）
所以答案的计算如下：原材料费用 + 生产劳动力成本 + 运费 = $ 4 000 000 +$ 2 000 000 + $ 90 000 = $ 6 090 000。

4、Which of the following most likely trades in the secondary markets?【单选题】

A.Open-end funds

B.Closed-end funds

C.Unit investment trusts

正确答案:B

答案解析:“Alternative Investments,” Bruno Solnik and Dennis McLeavey
2012 Modular Level I, Vol. 6, pp. 189–190
Study Session 18-66-a
Distinguish between an open-end and a closed-end fund, and explain how net asset value of a fund is calculated and the nature of fees charged by investment companies.
B is correct because closed-end funds trade in the secondary markets and do not offer a redemption feature.

5、Gus Hayden, CFA, has developed a mutual fund selection product based onhistorical information from 2000 - 2010 period and performs a hypothesis testabout performances of different styles.In order to minimize the probability ofboth Type I and Type II error, Hayden should increase the:【单选题】

A.the power of a test.

B.level of significance.

C.sample size.

正确答案:C

答案解析:同时减少第一类去真错误和第二类存伪错误的办法只有增加样本的容量。检验效力(the power of a test)是1减去犯第二类存伪错误的概率。