2020年CFA考试《CFA三级》考试共题，分为。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、【单选题】

A.Expected returns

B.Correlation of returns

C.Standard deviations of returns

正确答案:B

答案解析:B is correct. After-tax portfolio optimization requires adjusting each asset class’s 

2、Based on Exhibit 1, the cash required to rebalance the Lerida portfolio is closest to:【单选题】

A.€12,027,000.

B.€533,000.

C.€3,331,000.

正确答案:A

答案解析:The portfolio has to be rebalanced to the initial level of dollar duration. The portfolio market value and dollar duration are provided for both periods. First calculate dollar duration as: Market value × Duration × 0.01.

3、【单选题】

A.exhibit characteristics of multiple investor types.

B.retain the same emotional biases as they become older.

C.exhibit primarily emotional or cognitive biases, but not both.

正确答案:A

答案解析:A is correct. A limitation of behavioral models is that individual investors do frequently 

4、【单选题】

A.Statement 1.

B.Statement 2.

C.Statement 3.

正确答案:C

答案解析:C is correct. Statement 3 is most consistent with expected utility theory. The client exhibits self-control 

5、【单选题】

A.

B.

C.

正确答案:A

答案解析:A is correct. Jollie’s transaction is a legitimate market order in a thinly-traded security, and Mahsud