2020年CFA考试《CFA一级》考试共240题，分为单选题。小编为您整理精选模拟习题10道，附答案解析，供您考前自测提升！

1、Which of the following is least likely a characteristic of an effective financial reporting framework?【单选题】

A.Transparency

B.Comparability

C.Comprehensiveness

正确答案:B

答案解析:“Financial Reporting Standards,” Elaine Henry, CFA, Jan Hendrik van Greuning, CFA, and Thomas R. Robinson, CFA
2013 Modular Level I, Vol.3, Reading 24, Section 6.1
Study Session 7-24-g
Identify the characteristics of a coherent financial reporting framework and the barriers to creating such a framework.
B is correct. The characteristics of an effective financial reporting framework are transparency, comprehensiveness, and consistency. Comparability is a general feature of financial statements.

2、A company issued a $50,000 7-year bond for $47,565. The bonds pay 9 percent per annum and the yield-to-maturity at issue was 10 percent. The company uses the effective interest rate method to amortize any discounts or premiums on bonds. After the first year, the yield to maturity on bonds equivalent in risk and maturity to these bonds is 9 percent. The amount of the bond discount amortization ($) recorded in the second year is closest to:【单选题】

A.282.

B.348.

C.2,178.

正确答案:A

答案解析:“Long-term Liabilities and Leases,” Elizabeth A. Gordon and R. Elaine Henry, CFA
2010 Modular Level I, Vol. 3, pp.520-523
Study Session 9-39-a
Compute the effects of debt issuance and amortization of bond discounts and premiums on financial statements and ratios.
Interest paid = Market rate at issue x Issued amount of bonds = 9% x $50,000
Interest expense = Market rate at issue x Carrying (BV) of bonds
Amortization of discount = Interest expense - Interest paid

3、Hezi Cohen, a CFA candidate, is a heavy user of social networking sites on the Internet. His favorite site only allows a limited number of characters for each entry so he has learned to abbreviate everything, including CFA trademarks. Cohen also enjoys professional networking sites and contributes regularly to blogs that discuss the broad topical areas covered within the CFA Exam Program. In addition, he posts to these blogs pieces he has written in his area of expertise: retirement planning. By claiming to be an expert on retirement planning, he believes his stature within the investment community increases and he can gain more clients. Which Internet activity can Cohen most likely continue to be in compliance with the CFA Standards of Professional Conduct?【单选题】

A.Use of abbreviations.

B.Claiming retirement planning expertise.

C.Blogging about broad topical areas within the CFA Exam Program.

正确答案:B

答案解析:“Guidance for Standards I-VII,” CFA Institute
2011 Modular Level I, Vol. 1, pp. 139-148
Study Session 1–2–c
Recommend practices and procedures designed to prevent violations of the Code of Ethics and Standards of Professional Conduct.
B is correct because the CFA Standards do not prevent a person from claiming to be an expert in their area of specialty as long it is not a misrepresentation and/or an exaggeration of their skill and expertise.

4、Lynn Hampton, CFA, is a well-respected private wealth manager in her communitywith a diversified client base.The local government decides to construct alarge factory manufacturing chemical raw materials near her community, whichresults in a demonstration protesting the decision.She is arrested and convincedof her conduct, and immediately released.After she pays a fine, she returns towork.She is most likely violated the Professional Conduct Standards?【单选题】

A.No.

B.Yes, relating to misconduct.

C.Yes, relating to knowledge of the law.

正确答案:A

答案解析:错误行为主要针对个人专业行为，与个人的意识形态、宗教信仰等都没有关系，所以Hampton没有违反任何标准。

5、Which of the following is least likely a short-term funding method available to banks?【单选题】

A.Central bank funds

B.Syndicated loans

C.Negotiable certificate of deposits

正确答案:B

答案解析:A syndicated loan is a loan from a group of lenders, called the "syndicate," to a single borrower.Syndicated loans are primarily originated by banks, and the loans are extended to companies butalso to governments and government-related entities.
CFA Level I
"Fixed-Income Markets: Issuance, Trading, and Funding," Moorad Choudhry, Steven V. Mann, andLavone F. Whitmer
Section 7

6、Which of the following is least likely to be a warning sign of low quality earnings?【单选题】

A.Greater use of operating leases than peer companies.

B.Use of a higher discount rate in pension plan assumptions.

C.A ratio of operating cash flow to net income greater than 1.0.

正确答案:C

答案解析:“Financial Reporting Quality: Red Flags and Accounting Warning Signs,” Thomas R. Robinson, CFA, and Paul Munter
2011 Modular Level I, Vol. 3, pp. 562-563
Study Session: 10-40-b, e
Describe activities that will result in a low quality of earnings.
Describe common accounting warning signs and methods for detecting each.
A ratio of operating cash flow to net income below 1.0 (not above 1.0) can be a warning sign of low quality earnings.

7、Hypothesis test can be divided into one-tailed test and two-tailed test.A one-tailedhypothesis test may not have a:【单选题】

A."less than or equal to" alternative hypothesis.

B."not equal to" alternative hypothesis.

C."greater than" alternative hypothesis.

正确答案:B

答案解析:双边检验的原假设为"equal to"，备择假设为"not equal to"，拒绝域在两边。单边检验的备择假设可以是"less than"或"greater than"，也可以是"less than or equal to"或"greatthan or equal to"，因为在连续分布的情况下，落在具体某一个点的概率为0。

8、An investor does research about option and purchases a call option with the followingterms:

If the price of the underlying is $ 306.94 at expiration, the option payoff to thisinvestor is closest to:【单选题】

A.$0

B.$13

C.$3 265

正确答案:A

答案解析:所针对的股票到期价格低于行权价，看涨期权没有任何价值。

9、In the audit report, an additional paragraph that explains an exception to an accounting standard is best described as a(n):【单选题】

A.adverse opinion.

B.qualified opinion.

C.disclaimer of opinion.

正确答案:B

答案解析:“Financial Statement Analysis: An Introduction,” Elaine Henry, CFA, and Thomas R. Robinson, CFA
2013 Modular Level I, Vol.3, Reading 22, Section 3.1.7
Study Session 7-22-d
Describe the objective of audits of financial statements, the types of audit reports, and the importance of effective internal controls.
B is correct. A qualified opinion is one in which there is some scope limitation or exception to accounting standards that is described in additional explanatory paragraphs.

10、A company, which prepares its financial statements in accordance with IFRS uses the revaluation model to value land. At the end of the current year the land value of the land has increased and will be adjusted on the balance sheet. Which of the following statements is most accurate? In the current period the revaluation of the land will:【单选题】

A.increase return on sales.

B.increase return on assets.

C.decrease the debt to equity ratio.

正确答案:C

答案解析:“Long-Lived Assets,” Elaine Henry, CFA and Elizabeth A. Gordon
2011 Modular Level 1, Vol.3, pp.432
Study Session: 9-37- g
Discuss the revaluation model.
The increase in the value of the land bypasses the income statement and goes directly to a revaluation surplus account in equity. Equity increases thereby decreasing the debt to equity ratio