CFA特许金融分析师-CFA一级-数量.docxVIP

CFA特许金融分析师-CFA一级-数量

[单选题]1.Thepresentvalue(PV)ofaninvestmentwiththefollowingyear-endcashflows（江南博哥）(CF)anda12%requiredannualrateofreturnisclosestto:CF1=100,000eurodollarforyear1;CF2=150,000eurodollarforyear2;CF3=CF4=0eurodollarforyear34;CF5=-10,000eurodollarforyear5.

A.€201,747.

B.€203,191.

C.€227,573.

正确答案：B

参考解析：Biscorrect,asshowninthefollowingtable.

B正确。BAIIPlus计算器，CF页面下，2NDCE/C清楚历史记录，依次按：CFo=0C01=100,000F01=1C02=150,000F02=1C03=0F03=2（表示第三笔现金流为0，分别发生在第三年和第四年末，一共两笔）C04=-10,000F04=1NPV页面下：I=12CPTNPV=203,190.52

[单选题]2.Considerthefollowing20itemslistedinascendingorder:Themedianvalueoftheitemsisclosestto:

A.4.

B.5.

C.3.

正确答案：A

参考解析：Themedianisthevalueofthemiddleitemofasetofitemsthathasbeensortedintoascendingordescendingorder.Inaneven-numberedsample,wedefinethemedianasthemeanofthevaluesofitemsoccupyingthen/2and(n+2)/2positions(thetwomiddleitems).Then/2itemisthe10thitemandthe(n+2)/2itemisthe11thitem.Thevalueofthe10thitemis3;thevalueofthe11thitemis5.Themeanof3and5is4.中位数是按升序或降序排序的一组项的中间项的值。在偶数样本中，我们将中位数定义为占据n/2和（n＋2）/2位置（中间两个项目）的项目值的平均值。在题干中，n/2项是第10项，（n＋2）/2项是第11项。因为第10项的值是3；第11项的值是5。3和5的平均数是(3＋5）/2=4。

[单选题]3.Whenwecalculatethekurtosis,whatisthepowerofthekurtosis?

A.2.

B.3.

C.4.

正确答案：C

参考解析：Samplekurtosisismeasuredusingdeviationsraisedtothefourthpower.样本峰度是用提高到四次方的偏差来测量的。

[单选题]4.Thecovarianceofreturnsispositivewhenthereturnsontwoassetstendto:

A.havethesameexpectedvalues.

B.beabovetheirexpectedvalueatdifferenttimes.

C.beonthesamesideoftheirexpectedvalueatthesametime.

正确答案：C

参考解析：：Ciscorrect.Thecovarianceofreturnsispositivewhenthereturnsonbothassetstendtobeonthesameside(aboveorbelow)theirexpectedvaluesatthesametime,indicatinganaveragepositiverelationshipbetweenreturns.：C正确。当两种资产的收益同时趋于同一方向(高于或低于)期望