2020年CFA考试《CFA二级》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、Based on Exhibit 2, which of Arndt’s goals and constraints are least likely consistent with each other?【单选题】

A.Goal 2 and Constraint 1

B.Goal 1 and Constraint 3

C.Goal 2 and Constraint 3

正确答案:C

答案解析:C is correct. Goal 2, which defines the maximum annual loss of 5% under normal circumstances, and Constraint 3, which defines the long time horizon before funds will first be needed, are least consistent with each other. The long time horizon would normally indicate a higher-than-average ability to take risk, making Goal 2—which limits the annual unrealized loss—inconsistent with Constraint 3.

2、Topmaker’s influence on Rainer’s business activities can be best described as:【单选题】

A.significant.

B.controlling.

C.shared control.

正确答案:A

答案解析:A is correct. Topmaker’s representation on the Rainer board of directors and participation in Rainer’s policymaking process indicate significant influence. Significant influence is generally assumed when the percentage of ownership interest is between 20% and 50%. Topmaker’s representation on the board of directors and participation in the policymaking process, however, demonstrate significant influence despite its 15% equity interest.

3、Assuming that Dena Fund and Orient Fund both have the same information ratio, the value of MXM in Exhibit 2 must be closest to:【单选题】

A.10

B.12

C.16

正确答案:B

答案解析:IR(Dena) = IR(Orient)

4、Which feature discussed in the third section of “International Trade” will most likely help Genovia achieve its goal of encouraging foreign businesses to increase trade with domestic businesses?【单选题】

A.Only Feature 1

B.Only Feature 2

C.Both Feature 1 and Feature 2

正确答案:C

答案解析:C is correct. Genovia needs unambiguous laws concerning financial liability and bankruptcy to encourage foreign businesses to enter into contracts, particularly those that are long term and may involve sunk costs. The court decisions help Genovia achieve its goal. Also, clearly defined rules governing contracts, their interpretation, and each party’s legal rights under a contract are necessary. Thus, both features help Genovia achieve its goal.

5、The relationship between the periodic pension cost and the plan’s funded status is best expressed in which of the following?【单选题】

A.Periodic pension cost of –￡483 = Ending funded status of –￡4,774 – Employer 

B.Periodic pension cost of ￡1,322 = Benefits paid of ￡1,322.

C.Periodic pension cost of ￡210 = Ending funded status of –￡4,774 – Beginning funded 

正确答案:A

答案解析:A is correct. The relation between the periodic pension cost and the plan’s funded status can be expressed as Periodic pension cost = Ending funded status – Employer contributions – Beginning funded status.