2020年CFA考试《CFA一级》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、A consumer purchases an automobile using a loan. The amount borrowed is €30,000 and the terms of the loan call for the loan to be repaid over five years using equal monthly payments with an annual nominal interest rate of 8% and monthly compounding. The monthly payment is closest to:【单选题】

A.€608.29.

B.€626.14.

C.€700.00.

正确答案:A

答案解析:“Time Value of Money,” Richard A. Defusco, CFA, Dennis W. McLeavey, CFA, Jerald E. Pinto, CFA, and David E. Runkle, CFA
2011 Modular Level I, Vol. 1, pp. 286-290
Study Session 2-5-d, f
Solve time value of money problems when compounding periods are other than annual.
Draw a time line and solve time value of money applications (for example, mortgages and savings for college tuition or retirement).
Place the following values into a financial calculator: N = 60, i/y = 8/12, PV = 30000, FV = 0, and compute PMT. Note, 5 years times 12 months per year equals 60 months. The nominal rate of 8% must be divided by 12 to find the monthly periodic rate of 0.6666667%. Alternatively, using the present value of an annuity formula, solve:

2、The minimum rate of return an investor must receive in order to accept an investment is bestdescribed as the:【单选题】

A.internal rate of return.

B.required rate of return.

C.expected return.

正确答案:B

答案解析:The required rate of return is the minimum rate of return an investor must receive in order to acceptan investment.
CFA Level I
"The Time Value of Money: Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, and David E.Runkle
Section 2

3、Several years ago, Leo Peek, CFA, co-founded an investment club. The club is fully invested but has not actively traded its account for at least a year and does not plan to resume active trading of the account. Peek's employer requires an annual disclosure of employee stock ownership. Peek discloses all of his personal trading accounts but does not disclose his holdings in the investment club. Peek's actions are least likely to be a violation of which of the CFA Institute Standards of Professional Conduct?【单选题】

A.Misrepresentation

B.Transaction priority

C.Conflicts of interest

正确答案:B

答案解析:There is no indication that the investment club is trading ahead of clients. See Standard VI(B). 2014 CFA Level I "Guidance for Standards I-VII," CFA Institute Standard I(C), Standard VI(A), Standard VI(B)

4、Which of the following least likely affects how the burden of a tax is divided betweenbuyers and sellers?【单选题】

A.Elasticity of supply.

B.Elasticity of demand.

C.Whether the tax is imposed on buyers or on sellers.

正确答案:C

答案解析:不管税收是向谁征收的，都会在买卖双方问进行分配，关键看买方的需求价格弹性和卖方的供给价格弹性的相对大小。

5、An analyst does research about balance sheets.Which of the following is NOT acomponent of the owners' equity section of the balance sheet?【单选题】

A.Goodwill.

B.Issued capital.

C.Noncontrolling interests.

正确答案:A

答案解析:商誉（Goodwill）属于企业的一项资产类项目。非控制权权益（Noncontrolling interests）和已发行股本（Issued capital）都属于所有者权益类项目。