2022年CFA考试《CFA三级》共240道单选题。帮考网为大家每天准备了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，都会清晰的反映在分数上。一起加油前行!

1、Based on Exhibit 1, which of the components of economic growth has contributed most to GDP growth during the 1970–1989 time period?【单选题】

A.Labｏｒinput.

B.Capital stock.

C.Total factｏｒproductivity.

正确答案:C

答案解析:C is correct. The contributions from total factｏｒproductivity are 2.5 percent ａｎｄ 2.8 percent, respectively, fｏｒthe periods 1970–1989 ａｎｄ 1990–2014. The corresponding contributions from labｏｒinput are 1.8% (= 0.6 × 3.0%) ａｎｄ 2.76% (= 0.6 × 4.6%), ａｎｄ the corresponding contributions from capital stock are 1.92% (= 0.4 × 4.8%) ａｎｄ 1.76% (= 0.4 × 4.4%).

2、Which of Dreschler////\\'s responses to Sorenson////\\'s question about the challenges to equity market valuation is most accurate? His response concerning:【单选题】

A.the gathering of economic data.

B.discount rates ａｎｄ growth rates.

C.corporate profit ａｎｄ GDP growth.

正确答案:A

答案解析:In a developing country, there may be severe problems with the accuracy of data inputs. It is difficult to obtain macroeconomic data in developed countries with long-established methods ａｎｄ facilities. The problems of obtaining accurate ａｎｄ historically consistent data are multiplied in developing markets.

3、When recommending Komm, does Riser violate any CFA Institute Standards?【单选题】

A.No.

B.Yes, relating to duties to employer.

C.Yes, relating to disclosure of conflicts.

正确答案:A

答案解析:A is correct. No violation occurred. Riser’s recommendation is based on his knowledge of Komm ａｎｄ the firm’s “well-managed proprietary funds.” He does not have a conflict when he makes the recommendation.

4、To meet both of Hudgens’s guidelines fｏｒthe pension’s bond fund investment, Soto should recommend:【单选题】

A.pure indexing.

B.enhanced indexing.

C.active management.

正确答案:B

答案解析:B is correct. Low tracking errｏｒrequires an indexing approach. A pure indexing approach fｏｒa broadly diversified bond index would be extremely costly because it requires purchasing all the constituent securities in the index. A more efficient ａｎｄ cost-effective way to track the index is an enhanced indexing strategy, whereby Soto would purchase fewer securities than the index but would match primary risk factors reflected in the index. Closely matching these risk factors could provide low tracking error.

5、Based on Brown’s goals ａｎｄ concerns, which type of annuity should Smith recommend fｏｒher?【单选题】

A.Deferred fixed

B.Immediate fixed

C.Immediate variable

正确答案:B

答案解析:B is correct. With immediate fixed annuities, Brown will trade a sum of money today fｏｒa promised income benefit fｏｒas long as she is alive. Brown is already age 75 ａｎｄ is concerned about longevity risk; she wants a known income stream currently ａｎｄ in the future. Therefore, an immediate fixed annuity is the most appropriate choice.

水滴石穿，相信CFA考试在各位考试的用心备考下很快就会掌控自如，但是千万别欺骗自己，结果都会以你最终的分数展现出来，加油!