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、Firms that claim to comply with the GIPS standards must disclose the use of a sub-advisor and the:【单选题】

A.identity of the sub-advisors.

B.period the sub-advisors were used.

C.investment strategies employed by the sub-advisors.

正确答案:B

答案解析:B is correct. Provision I.4.A.25 states, “For periods beginning on or after 1 January 2006, firms must disclose the use of a sub-advisor and the periods a sub-advisor was used.”

2、To be in compliance with the CFA Institute Standards of Professional Conduct, CleanTech should most likely question the validity of Slar's research on EnergyAlgae for deficiencies in which of the following areas?【单选题】

A.Earnings projections

B.Operational analysis

C.Annual research update

正确答案:C

答案解析:A reasonable and diligent effort was not made when the analysis on EnergyAlgae was updated on only an annual basis because the information on the company could change materially in such a high-risk industry, a violation of Standard V(A): Diligence and Reasonable Basis. In addition, when the company reports financial results on a semiannual basis, an annual update to a research report would not be timely.

3、The total implementation shortfall for the Nano Corporation trade is closest to:【单选题】

A.4%.

B.7%.

C.10%.

正确答案:C

答案解析:

4、Gregory’s human capital is:【单选题】

A.lower than his financial capital.

B.equal to his financial capital.

C.higher than his financial capital.

正确答案:C

答案解析:C is correct. Gregory is in the early career stage of life, and human capital represents a 

5、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: