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、What are the GIPS requirements for the Contrarian composite of Nigel Investment Advisors?【单选题】

A.

B.

C.

正确答案:B

答案解析:Under GIPS, all fee-paying, discretionary portfolios must be included in at least one composite. There is no minimum 

2、【单选题】

A.a limit order.

B.a market order.

C.an iceberg order.

正确答案:B

答案解析:B is correct. The portfolio manager wanted the order executed quickly and the order would have 

3、【单选题】

A.correct.

B.incorrect, because calculated correlations with other assets tend to be biased downward in absolute value.

C.incorrect, because the true variance of the asset is biased upward.

正确答案:B

答案解析:O'Reilly's explanation of appraisal data bias is incorrect because calculated correlations with other assets tend to be smaller in absolute value compared with the true correlations. O'Reilly is correct in that appraisal values tend to be less volatile than market-determined values for identical assets, and the true variance (and standard deviation) of the asset is biased downward.

4、Based on the correlation that Li's team believes to exist between the CCIRP and TELIRP, the new volatility for the SCIRP is closest to:【单选题】

A.56.4%.

B.31.8%.

C.49.1%.

正确答案:A

答案解析:

5、【单选题】

A.herding.

B.home bias.

C.halo effect.

正确答案:B

答案解析:B is correct. Home bias occurs when investors exhibit a strong bias in favor of domestic