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、When comparing investment objectives and constraints, Alpha and Omega most likely have similar:【单选题】

A.return objectives.

B.risk tolerances.

C.legal and regulatory constraints.

正确答案:C

答案解析:Both Alpha and Omega are mutual funds, a type of investment company. They would share similar legal and regulatory constraints, such as a need to describe their objectives, constraints, and costs in legally prescribed formats (e.g., a prospectus). However, they would have different risk and return objectives that would match different needs in investor portfolios.

2、When meeting with Vanderon, does Klein violate any CFA Standards?【单选题】

A.No.

B.Yes, because he improperly references the CFA designation.

C.Yes, because he claims enhanced portfolio management skills.

正确答案:B

答案解析:B is correct. Klein improperly references the CFA designation when he states “As a CFA 

3、Evaluate Nicholson's comments regarding Thomasville's compensation contract with Boston Advisors. Nicholson is:【单选题】

A.correct.

B.

C.

正确答案:C

答案解析:The first part of Nicholson's comment is correct. Thomasville's contract with Boston Advisors is asymmetric because 

4、The strategy that is most likely to benefit from the environment described by Monts in Statement 3 is to:【单选题】

A.rotate from consumer non-cyclical to consumer cyclical sectors.

B.increase exposure to the crossover sector.

C.shift the portfolio’s positions to shorter duration corporate bonds.

正确答案:C

答案解析:

5、The explicit cost component of the total implementation shortfall for the Nano Corporation trade is closest to:【单选题】

A.0.15%.

B.0.25%.

C.0.35%.

正确答案:A

答案解析:Implementation shortfall can be decomposed into explicit costs, realized profit/loss, delay costs, and missed trade