2020年CFA考试《CFA一级》考试共240题，分为单选题。小编为您整理Quantitative Methods5道练习题，附答案解析，供您备考练习。

1、A stock is declining in price and reaches a price range wherein buying activity is sufficient to stop the decline. This is best described as a:【单选题】

A.support level.

B.resistance level.

C.change in polarity point.

正确答案:A

答案解析:“Technical Analysis,” Barry M. Sine, CFA and Robert A. Strong, CFA
2013 Modular Level I, Vol. 1, Reading 12, Section 3.2
Study Session 3– 12– c
Explain the uses of trend, support, resistance lines, and change in polarity.
A is correct Support level is defined to be “a low price range in which buying activity is sufficient to stop the decline in price.”

2、An investor deposits ￡2,000 into an account that pays continuously compounded interest of 6% (nominal annual rate). The value of the account at the end of four years is closest to:【单选题】

A.￡2,525.

B.￡2,542.

C.￡2,854.

正确答案:B

答案解析:“The Time Value of Money,” Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, and David E. Runkle“Statistical Concepts and Market Returns,” Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, and David E. Runkle
2012 Modular Level I, Vol. 1, pp. 265–266, 524–525
Study Session 2-5-d, e, 3-9-p
Solve time value of money problems for different frequencies of compounding.
Calculate and interpret the future value (FV) and present value (PV) of a single sum of money, an ordinary annuity, an annuity due, a perpetuity (PV only), and a series of unequal cash flows.
Distinguish between discretely and continuously compounded rates of return, and calculate and interpret a continuously compounded rate of return, given a specific holding period return.
B is correct. The future value of a given lump sum, calculated using continuous compounding, is

3、In Elliott Wave Theory, Wave 2 commonly exhibits a pattern best described as a(n):【单选题】

A.basing pattern consisting of five smaller waves.

B.Fibonacci ratio percentage retracement composed of three smaller waves.

C.uptrend moving above the high of Wave 1 and consisting of five smaller waves.

正确答案:B

答案解析:“Technical Analysis,” Barry M. Sine, CFA and Robert A. Strong, CFA
2013 Modular Level I, Vol. 1, Reading 12, Section 4
Study Session 3-12-g
Describe the key tenets of Elliott Wave Theory and the importance of Fibonacci numbers.
B is correct. Wave 2 is a correction, retracing much of the gain from Wave 1, but not all of it. The lost proportion is usually a percentage equal to a Fibonacci ratio, and it consists of three smaller waves.

4、When using stock return data, a geometric mean return calculation is most likely preferred over a geometric mean calculation because:【单选题】

A.return data can be negative.

B.return data can be less than one.

C.the geometric mean return is closer in value to the arithmetic mean.

正确答案:A

答案解析:“Statistical Concepts and Market Returns,” Richard A. Defusco, CFA, Dennis W. McLeavey, CFA, Jerald E. Pinto, CFA, and David E. Runkle, CFA
2010 Modular Level I, Vol. 1, pp. 296-299
Study Session 2-7-e
Define, calculate, and interpret measures of central tendency, including the population mean, sample mean, arithmetic mean, weighted average or mean (including a portfolio return viewed as a weighted mean), geometric mean, harmonic mean, median, and mode.
root can always be found.

5、On 7 January 2008, an investor purchases 100 shares of stock for $32.50 a share. On 7 January 2009, the investor purchases 100 more shares of the same stock for $36.70 a share. On 7 January 2010, the investor sells all 200 shares of the stock for $42.00 a share. The internal rate of return for this investment is best described as an example of a:【单选题】

A.geometric mean return.

B.time-weighted rate of return.

C.money-weighted rate of return.

正确答案:C

答案解析:“Discounted Cash Flow Applications,” Richard A. Defusco, CFA, Dennis W. McLeavey, CFA, Jerald E. Pinto, CFA, and David E. Runkle, CFA
2010 Modular Level I, Vol. 1, pp. 246-247
Study Session 2-6-c
Calculate, interpret, and distinguish between the money-weighted and time-weighted rates of return of a portfolio and appraise the performance of portfolios based on these measures.
The money-weighted return is the internal rate of return for the portfolio.