2020年CFA考试练习题精选6(含解析).docx

PAGE 1 2020年CFA考试练习题精选6(含解析) 　 　　 1、A company determines that the quantity demanded of a product increases by 5% when price is reduced by 10%. The product’s price elasticity of demand is best described as:【单选题】 A.elastic. B.inelastic. C.perfectly elastic. 正确答案:B 答案解析:“Elasticity,” Michael ParkinWhen the price elasticity of demand is between 0 and 1, the good is said to have an inelastic demand. In this case, the price elasticity of demand is calculated as 5% / 10% = 0.5. 2、In early 2011, the British pound (GBP) to New Zealand dollar (NZD) spot exchange rate was 2.0979. LIBOR interest rates, quoted on a 360-day year basis, were 1.6025% for the British pound and 3.2875% for the New Zealand dollar. The 180-day forward points (scaled up by four decimal places) in GBP/NZD would be closest to:【单选题】 A.–343. B.–173. C.176. 正确答案:B 答案解析:“Currency Exchange Rates,” William A. Barker, CFA, Paul D. McNelis, and Jerry NickelsburgForward points = (Forward – Spot) × 10,000 = (2.0806 – 2.0979) × 10,000 = –173.0. 3、Which of the following is least likely to affect the growth of the economy?【单选题】 A.The workforce attending an average of 20 hours of training per year B.An increase in the labor force that is offset by a decrease in the average hours worked per worker, making the total hours worked unchanged C.When capital depreciation exceeds gross investment within the economy 正确答案:B 答案解析:The total hours worked remained unchanged, and accordingly, the growth of the economy will not change.Section 4.2 4、If the price of a key factor of production decreases, real GDP is most likely to:【单选题】 A.decrease. B.remain unchanged. C.increase. 正确答案:C 答案解析:如果一种主要生产要素价格降低，则会导致供给增加和真实GDP增加。 5、An analyst does research about real GDP.Holding all else constant, a decrease inwhich of the following is most likely to result in an increase in the quantity of realGDP demanded?【单选题】 A.Import. B.Export. C.Government expenditure. 正确答案:A 答案解析:真实GDP的需求主要是由消费、投资、政府支出和净出口（出口减去进口）组成，如果进口增加的话，会减少净出口，并会减少真实GDP。