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.resign from the firm.

B.notify the board of directors.

C.decline to accept supervisory responsibilities.

正确答案:C

答案解析:C is correct. Standard IV(C) states that the member or candidate should decline in writing to accept 

2、【单选题】

A.buying the Greek 5-year 

B.

C.

正确答案:A

答案解析:A is correct. As shown in the previous question, the Greek bond is the most attractive. Although the Peso is expected to 

3、A disadvantage of Strategy 1 is that:【单选题】

A.price risk still exists.

B.interest rate volatility introduces risk to effective matching.

C.there may not be enough bonds available to match all liabilities.

正确答案:C

答案解析:C is correct. It may be impossible to acquire zero-coupon bonds to precisely match liabilities because the 

4、【单选题】

A.notional principal amount.

B.fixed interest rate to be paid.

C.floating interest rate to be received.

正确答案:B

答案解析:

5、Based on Exhibits 2 and 3, what can Smith most likely determine about MCAM's investment style over time? MCAM's style has:【单选题】

A.not drifted.

B.drifted from value to growth.

C.drifted from growth to value.

正确答案:C

答案解析:The active equity strategy was not value oriented because the returns-based style analysis indicates a growth orientation given a 0.65 coefficient of determination with respect to growth returns. The current holdings, however, depict a value orientation when compared with the manager's normal benchmark given the differences in dividend yield and P/E. MCAM's style has drifted over time from growth to value.