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.a homogeneous and mutually exclusive asset class–based risk analysis.

B.a multifactor risk model to control systematic risk factors in asset allocation.

C.

正确答案:B

答案解析:B is correct. Raye believes the Laws’ previous financial adviser followed an asset 

2、With respect to the relative merits of internal dispersion measures, Walter is least likely correct about:【单选题】

A.high–low range.

B.standard deviation.

C.interquartile range.

正确答案:C

答案解析:Walter is correct about the high–low range, which is skewed by outliers. He is also correct that the standard deviation allows for comparability across investment firms. He is incorrect, however, about the interquartile range. Because this measure includes only the middle 50% of portfolio returns, thus excluding extreme observations, it is not affected by outliers.

3、Which of Winslow’s statements about carry trades is correct?【单选题】

A.Statement I

B.Statement II

C.Statement III

正确答案:A

答案解析:A is correct. Carry trades may or may not involve maturity mis-matches. Intra-market carry trades typically do involve 

4、【单选题】

A.Portfolio A

B.Portfolio B

C.Portfolio C

正确答案:A

答案解析:A is correct. The two requirements to achieve immunization for multiple liabilities are for the money 

5、Lorraine Newman is evaluating whether to save for retirement using a TDA or a tax-exempt account. The TDA permits tax-deductible contributions but withdrawals will be taxed at 30 percent. The tax-exempt account permits tax-free accumulation and withdrawals but contributions are taxable at a 40 percent tax rate. Assuming contribution limits do not affect Newman’s choice of accounts, 【单选题】

A.TDA.

B.Tax-exempt.

C.The choices are the same.

正确答案:A

答案解析:A is correct. The future accumulation of the TDA is (1 + r)n(1 - 0.30), whereas the future accumulation of the tax-exempt account is (1 + r)n(1 - 0.40). Therefore, the TDA will accumulate more wealth.