2020年CFA考试《CFA三级》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、【单选题】

A.Low dividend paying stock.

B.Tax exempt bonds.

C.Taxable bonds.

正确答案:C

答案解析:C is correct. In this regime, interest would be taxed heavily and is most appropriate for a 

2、Which of the summary points regarding real estate provisions is correct?【单选题】

A.Statement 3.

B.Statement 4.

C.Statement 5.

正确答案:C

答案解析:Statement 3 is incorrect in applying the special real estate provisions to private debt. Both private and public debt 

3、【单选题】

A.Yes

B.No, the bond price should decrease.

C.No, the bond price should increase.

正确答案:B

答案解析:B is correct. An increase in interest rates results in a decrease in the bond price. An increase in the credit 

4、Based on Exhibit 1, which of the following sub-styles is most consistent with Manager C’s investment style?【单选题】

A.Low P/E

B.High yield

C.Earnings momentum

正确答案:C

答案解析:Manager C follows a growth investment style. Earnings momentum is a growth investment sub-style.

5、The trading tactics at Ramsey's previous firm most likely focused on:【单选题】

A.liquidity at any cost.

B.the need for a trustworthy agent.

C.costs not being important.

正确答案:A

答案解析:Liquidity at any cost is a trading tactic for immediate execution in institutional block size. Liquidity at any cost tactics are typically used by information-motivated traders who require timely execution. Weaknesses of liquidity at any cost include high costs, such as commissions and price concessions, related to market impact.