2020年CFA考试《CFA一级》考试共240题，分为单选题。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、Selected information from a company's comparative income statement and balance sheet ispresented below:


The cash collected from customers in 2013 is closest to:【单选题】

A.$111,500.

B.$96,100.

C.$88,500.

正确答案:C

答案解析:Cash collected from customers=Revenues-Increase in accounts receivable=$100-(25-13.5)=$88.5 thousand.
CFA Level I
"Understanding Cash Flow Statements," Elaine Henry, Thomas R. Robinson, Jan Hendrik vanGreuning, and Michael A. Broihahn
Section 3.2.1.1

2、Zhao Xuan, CFA, is a sell side investment analyst. While at a software industry conference, Zhao hears rumors that Green Run Software may have falsified its financial results. When she returns to her office, Zhao conducts a thorough analysis of Green Run. Based on her research, including discussions with some of Green Run’s customers, Zhao is convinced that Green Run’s reported 50% increase in net income during recent quarters is completely fictitious. So far, however, Zhao is the only analyst suspicious about Green Run’s reported earnings. According to the CFA Institute Code of Ethics and Standards of Professional Conduct, the least appropriate action for Zhao is to:【单选题】

A.report her suspicions to Green Run’s management.

B.do nothing, until other analysts support her analysis.

C.recommend her clients sell their Green Run shares immediately.

正确答案:B

答案解析:CFA Institute Standards
2012 Modular Level I, Vol. 1, pp. 49–51
Study Session 1-2-c
Recommend practices and procedures designed to prevent violations of the Code of Ethics and Standards of Professional Conduct.B is correct because the analyst has conducted thorough research that indicates the company falsified its financial results, and she should request the company address this issue publicly as recommended by Standard II (A) Material Nonpublic Information. If a member or candidate determines that information is material, the member or candidate should make reasonable efforts to achieve public dissemination of the information. This effort usually entails encouraging the issuer company to make the information public. If public dissemination is not possible, the member or candidate must communicate the information only to the designated supervisory and compliance personnel within the member’s or candidate’s firm and must not take investment action on the basis of the information.

3、A sample of 100 observations drawn from a normally distributed population has a sample mean of 12 and a sample standard deviation of 4. Using the extract from the z-distribution given below, find the 95% confidence interval for the population mean.

The 95% confidence interval is closest to:【单选题】

A.7.840 to 27.683

B.11.216 to 12.784

C.11.340 to 12.660

正确答案:B

答案解析:“Sampling and Estimation,” Richard A. Defusco, CFA, Dennis W. McLeavey, CFA, Jerald E. Pinto, CFA, and David E. Runkle, CFA
2011 Modular Level I, Vol. 1, pp. 563-564
Study Session 3-10-j
Calculate and interpret a confidence interval for a population mean, given a normal distribution with 1) a known population variance, 2) an unknown population variance, or 3) an unknown variance and a large sample size.
The 95% confidence interval uses
In this problem, 12 ± 1.96 × (4 / √100) = 12 ± 1.96 × 0.4. Thus the confidence interval spans 11.216 to 12.784.

4、Which of the following statements is most accurate? A set of events is mutuallyexclusive means:【单选题】

A.the events cover all possible outcomes.

B.only one event can occur at a time.

C.the sum of all the events' probabilities equals one.

正确答案:B

答案解析:遍历（exhaustive）意味着一组事件包含了所有可能的结果。互斥（mutually exclusive）意味着在同一时间只有一个事件会发生。如果事件之间既是互斥的又是遍历的，那么把所有可能结果的概率累加之和为1。

5、An energy analyst forecasts that the price per barrel of crude oil five years from now will range between USD$175 and USD$205. Assume oil prices are a continuous uniform distribution. Recall that the cumulative distribution function for a continuous uniform variable is:

The probability (in %) that the price will be less than USD$180 five years from now is closest to:【单选题】

A.5.6.

B.16.7.

C.44.4.

正确答案:B

答案解析:“Common Probability Distributions,” Richard A. Defusco, CFA, Dennis W.McLeavey, CFA, Jerald E. Pinto, CFA, and David E. Runkle, CFA
2010 Modular Level I, Vol. 1, pp. 435-439
Study Session 3-9-h
Describe the continuous uniform distribution, and calculate and interpret probabilities, given a continuous uniform probability distribution.
The probability that the price per barrel of crude oil five years from now will be less than USD$80 (F(80)):