cfa一级真题及答案.docVIP

cfa一级真题及答案

一、单项选择题（总共10题，每题2分）

1.Whichofthefollowingisacharacteristicofaprimarymarket?

A)Itiswheresecuritiesaretradedbetweeninvestors.

B)Itiswherenewsecuritiesareissuedtothepublic.

C)ItisregulatedbytheSecuritiesandExchangeCommission.

D)Itisknownforhighliquidity.

答案：B

2.Theprocessofconvertingacompanysdebtintoequityisknownas:

A)Leveragedbuyout.

B)Merger.

C)Conversion.

D)Initialpublicoffering.

答案：C

3.Whichofthefollowingisameasureofacompanysprofitability?

A)Debt-to-equityratio.

B)Earningspershare.

C)Currentratio.

D)Returnonassets.

答案：D

4.Theyieldtomaturityonabondisthe:

A)Totalreturnanticipatedifthebondishelduntilthematuritydate.

B)Interestratepaidbythebondissuer.

C)Currentmarketpriceofthebond.

D)Annualinterestpaymentdividedbythebondsfacevalue.

答案：A

5.Whichofthefollowingisatypeofderivativecontract?

A)Commonstock.

B)Bond.

C)Option.

D)Mutualfund.

答案：C

6.TheEfficientMarketHypothesissuggeststhat:

A)Marketpricesreflectallavailableinformation.

B)Marketpricesareinfluencedbyinvestorsentiment.

C)Marketpricesarealwaysovervalued.

D)Marketpricesarealwaysundervalued.

答案：A

7.WhichofthefollowingisacomponentoftheWeightedAverageCostofCapital(WACC)?

A)Equitycapital.

B)Debtcapital.

C)Preferredstockcapital.

D)Alloftheabove.

答案：D

8.Thecapitalassetpricingmodel(CAPM)isusedto:

A)Determinetheexpectedreturnonaninvestment.

B)Calculatethebetaofastock.

C)Assesstheriskofaportfolio.

D)Alloftheabove.

答案：A

9.Whichofthefollowingisacharacteristicofabullmarket?

A)Pricesaregenerallyrising.

B)Pricesaregenerallyfalling.

C)Pricesarevolatile.

D)Pricesarestable.

答案：A

10.TheSharperatioisusedto:

A)Measuretherisk-adjustedreturnofaninvestment.

B)Calculatethebetaofastock.

C)Determinetheexpectedreturnonaninvestment.

D)Assesstheliquidity