2020年CFA考试《CFA三级》考试共240题，分为单选题。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.Statement 1

B.Statement 2

C.Statement 3

正确答案:A

答案解析:A is correct. Global credit managers do use currency swaps and invest in pegged currencies to hedge foreign 

2、Miller heads the research department of a large brokerage firm. The firm has many analysts, some of whom are subject to the Code and Standards. If Miller delegates some supervisory duties, which statement best describes her responsibilities under the Code and Standards?【单选题】

A.Miller’s supervisory responsibilities do not apply to those subordinates who are not subject to the Code and Standards.

B.Miller no longer has supervisory responsibility for those duties delegated to her subordinates.

C.Miller retains supervisory responsibility for all subordinates despite her delegation of some duties.

正确答案:C

答案解析:The correct answer is C. Under Standard IV(C)—Responsibilities of Supervisors, members and candidates may delegate supervisory duties to subordinates but such delegation does not relieve members or candidates of their supervisory responsibilities. As a result, answer B is incorrect. Moreover, whether or not Miller’s subordinates are subject to the Code and Standards is irrelevant to her supervisory responsibilities. Therefore, answer A is incorrect.

3、Disregarding the initial cost of the Hop collar strategy, the value per share of 【单选题】

A.$26.05.

B.$26.20.

C.$26.90.

正确答案:C

答案解析:C is correct. If the stock price at expiration of the options is $26.90, the put will expire worthless, 

4、With respect to his explanation of survivorship bias, O'Reilly most likely is:【单选题】

A.correct.

B.incorrect, because survivorship bias results in an overly pessimistic view of expected returns.

C.incorrect, because survivorship bias results in a downward bias to reported returns.

正确答案:A

答案解析:O'Reilly's explanation of survivorship bias is correct.

5、【单选题】

A.

B.

C.

正确答案:C

答案解析:C is correct. On the one hand, because the insurance company wants to minimize tracking errors 

6、In Kelly's response to Davidson, she is most likely exhibiting:【单选题】

A.illusion of control bias.

B.gambler's fallacy.

C.self-attribution bias.

正确答案:A

答案解析:The illusion of control bias can be encouraged by complex models. The illusion of control can lead to analysts being overly confident when forecasting complex patterns, such as future interest rate movements.

7、【单选题】

A.0.84.

B.1.19.

C.1.48.

正确答案:A

答案解析:A is correct. To execute Strategy 1, 216 contracts would have been sold three months ago on 15 

8、Regarding the disclosures contained in Exhibit 1, the GIPS standards would most likely:【单选题】

A.require Columns 3 and 7 and recommend Column 6.

B.require Column 6 and recommend Columns 4 and 7.

C.require Columns 2 and 5 and recommend Column 1.

正确答案:C

答案解析:The presentation of firm assets (or percentage of firm assets represented by the composite) is required. Firms are required to present either net-of-fees performance or gross-of-fees performance. If one or the other is presented, then it is recommended that the remaining also be presented. For example, if net-of-fees performance is disclosed, then it is recommended that gross-of-fees performance also be disclosed.

9、【单选题】

A.resign from the firm.

B.notify the board of directors.

C.decline to accept supervisory responsibilities.

正确答案:C

答案解析:C is correct. Standard IV(C) states that the member or candidate should decline in writing to accept 

10、Huanca’s comment about using options to manage the risk of his Urubamba common stock position is least likely correct regarding:【单选题】

A.return enhancements.

B.reduction of volatility.

C.establishing a minimum value.

正确答案:C

答案解析:C is correct because although a protective put establishes a minimum value for the position when the price of the underlying stock declines, a covered call does not. Therefore, Huanca’s statement is incorrect.