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、Using the results for the linear trend equation in Exhibit 1, the specialty retail industry sales forecast for Quarter 1 of 2009 is closest to:【单选题】

A.$26 million.

B.$976 million.

C.

正确答案:C

答案解析:Quarter 1 of 2009 is the 61st quarter (starting with Quarter 1 of 1994): sales = 10 + 16(61) = $986 million.

2、The effective duration of Bond #6 is:【单选题】

A.lower than or equal to 1.

B.higher than 1 but lower than 3.

C.higher than 3.

正确答案:A

答案解析:A is correct. The effective duration of a floating-rate bond is close to the time to next reset. As the reset for Bond #6 is annual, the effective duration of this bond is lower than or equal to 1.

3、Which of the following options strategies is Ferrell most likely to recommend for the client’s portfolio?【单选题】

A.Long calls

B.Short calls

C.Short puts

正确答案:B

答案解析:B is correct. An index-tracking portfolio without options has a delta of 1. To achieve a delta of 0.9, the delta of the options position must be negative. Of the three choices, only short calls have a negative delta. Long call options have deltas ranging from 0 to 1. Short calls, therefore, have deltas ranging from 0 to -1. The short call position lowers the portfolio’s overall delta as desired.

4、Based on the three economic outlook statements, a profitable long/short trade would be to:【单选题】

A.go long a Canadian CDX IG and short a US CDX IG.

B.short an iTraxx Crossover and go long an iTraxx Main.

C.short electric car CDS and go long traditional car CDS.

正确答案:B

答案解析:B is correct. Based on Outlook 1, Chan and Smith anticipate that Italy’s economy will weaken. In order to profit from this forecast, one would go short (buy protection) a highyield Italian CDS (e.g., iTraxx Crossover) index and go long (sell protection) an investment-grade Italian CDS (e.g., iTraxx Main) index.

5、Which of the following policies would best address Genovia’s objective of promoting free trade on industrial goods?【单选题】

A.Imposing tariffs on foreign-produced goods

B.Allowing a floating currency

C.Providing subsidies to domestic companies

正确答案:B

答案解析:B is correct. A floating currency allows international trade in Genovia to be marketbased. International disputes about whether a country is manipulating or fixing its currency price often center on issues related to competitiveness.