2020年CFA考试《CFA三级》考试共题，分为。小编为您整理精选模拟习题10道，附答案解析，供您考前自测提升！

1、【单选题】

A.Aschel

B.Permot

C.Rosaiso

正确答案:B

答案解析:B is correct. Permot has the highest percentage of floating-coupon bonds and inflation-linked bonds. 

2、Which of Olamide's comments on rolling yield is least accurate?【单选题】

A.

B.The definition of income yield.

C.The definition of rolldown return.

正确答案:C

答案解析:Rolling yield = income yield + rolldown return

3、【单选题】

A.Telling the team not to worry.

B.Reducing the portfolio turnover this year.

C.Deciding to hold the losing positions until they turn around.

正确答案:C

答案解析:C is correct. Jordan’s behavior is a classic example of loss aversion: When a loss occurs, 

4、【单选题】

A.Provides estate liquidity

B.

C.Replaces lost earning power for dependents

正确答案:A

答案解析:A is correct. Life insurance best meets Perrin’s immediate need for estate liquidity. A life 

5、The most appropriate approach for Bayside to achieve Objective 2 is to invest in small-cap stocks using a:【单选题】

A.long-only strategy.

B.market-neutral long–short strategy.

C.short extension strategy.

正确答案:B

答案解析:A market-neutral long–short strategy implemented by using small-cap stocks will help Bayside earn alpha associated with small-cap stocks but without beta exposure to the 

6、Which of Houston’s statements regarding repurchase agreements is least likely correct:【单选题】

A.Statement 3

B.Statement 2

C.Statement 1

正确答案:A

答案解析:Statement 3 is incorrect. The more difficult it is to obtain the securities, the lower the repo rate. Some securities may be in short supply and difficult to obtain. To acquire these securities, the buyer of the securities (i.e., the lender of funds) may be willing to accept a lower rate.

7、Based on Silva's advice, the effective annual interest rate for First Citizen Bank's loan is closest to:【单选题】

A.5.75%.

B.4.56%.

C.6.38%.

正确答案:C

答案解析:

8、【单选题】

A.Social proof.

B.Confirmation bias.

C.Gambler’s fallacy.

正确答案:A

答案解析:A is correct. Social proof is a belief in which individuals are biased to follow the beliefs 

9、If the price of Mountain Hawk stock declines to $88.00, which options strategy will most likely have the highest value at expiration?【单选题】

A.Bull spread

B.Straddle

C.Bear spread

正确答案:C

答案解析:The bear spread strategy will have a value of $10. A bear (put) spread entails buying the put with the higher exercise price ($100) and selling the put with the lower exercise price ($90).

10、【单选题】

A.Statement 2.

B.Statement 4.

C.Statement 6.

正确答案:B

答案解析:B is correct. Statement 4 indicates the belief 2. that buy/sell signals can be used to earn excess returns.