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、【单选题】

A.correct given the assumptions and method described.

B.too high given the assumptions and method described.

C.too low given the assumptions and method described.

正确答案:C

答案解析:To calculate the daily VaR from an annual VaR, the mean and standard deviation must be adjusted using the 250 trading days described.

2、If Bardem creates a special purpose entity rather than borrowing against its receivables, which of Domingues, comments is most accurate? Comment:【单选题】

A.1

B.2

C.3

正确答案:A

答案解析:A is correct. Bardem’s cost of borrowing through the SPE is likely to decrease, because the SPE is bankruptcy remote from Bardem, and the lenders will have a direct claim on the receivables, thus allowing the SPE to borrow at preferred rates.

3、The implementation of Proposal #4 would most likely signal to Ladan and other investors that future earnings growth can be expected to:【单选题】

A.decrease.

B.remain unchanged.

C.increase.

正确答案:C

答案解析:C is correct. Dividend initiations convey positive information and are associated with future earnings growth, whereas dividend omissions or reductions convey negative information and are associated with future earnings problems.

4、Which of the following factors best supports Maturin's classification as an independent director of AYM?【单选题】

A.Maturin's employment history with the company.

B.Personal relationship between Maturin and Charles.

C.Jack's membership on the board of Standard Marine Containers.

正确答案:A

答案解析:

5、After translating Consol-Can’s inventory and long-term debt into the parent company’s currency (US$), the amounts reported on Consolidated Motor’s financial statements on 31 December 20X2 would be closest to (in millions):【单选题】

A.$71 for inventory and $161 for long-term debt.

B.$71 for inventory and $166 for long-term debt.

C.$73 for inventory and $161 for long-term debt.

正确答案:B

答案解析:B is correct. When the parent company’s currency is used as the functional currency, the temporal method must be used to translate the subsidiary’s accounts. Under the temporal method, monetary assets and liabilities (e.g., debt) are translated at the current (year-end) rate, non-monetary assets and liabilities measured at historical cost (e.g., inventory) are translated at historical exchange rates, and non-monetary assets and liabilities measured at current value are translated at the exchange rate at the date when the current value was determined. Because beginning inventory was sold first and sales and purchases were evenly acquired, the average rate is most appropriate for translating inventory and C$77 million × 0.92 = $71 million. Long-term debt is translated at the year-end rate of 0.95. C$175 million × 0.95 = $166 million.