2025年CFA考试模拟训练.docxVIP

2025年CFA考试模拟训练

考试时间：______分钟总分：______分姓名：______

PartA:MultipleChoiceQuestions

1.Aninvestorrequiresa9%rateofreturnonaninvestmentwithanexpectedreturnof14%andastandarddeviationof25%.Ifthereturnsarenormallydistributed,approximatelywhatrangeofreturnswouldtheinvestorexpecttosee68%ofthetime?

a)4%to24%

b)5%to23%

c)6%to22%

d)7%to21%

2.Whichofthefollowingstatementsregardingtheefficientmarkethypothesis(EMH)ismostaccurate?

a)TheEMHsuggeststhatallassetsarecurrentlypricedattheirintrinsicvalue.

b)Underthesemi-strongformoftheEMH,publiclyavailableinformationcannotbeusedtoconsistentlyachievereturnsabovethemarketaverage.

c)TheweakformoftheEMHimpliesthattechnicalanalysiscanconsistentlygenerateabnormalreturns.

d)ThestrongformoftheEMHstatesthatonlyinsidershaveinformationthatcanleadtoabnormalreturns.

3.Acompanyhasadebt-to-equityratioof0.6.Ifthetotalassetsare$500,000,whatisthemarketvalueofequity?

a)$250,000

b)$300,000

c)$333,333

d)$400,000

4.Whichofthefollowingisgenerallyconsideredacapitalintensiveindustry?

a)Softwaredevelopment

b)Consultingservices

c)Airlinetransportation

d)Hospitalservices

5.Thedividendgrowthmodelismostappropriateforvaluingwhichtypeofcompany?

a)Acompanywithstableandpredictabledividendpayments.

b)Acompanynotexpectedtopaydividendsforseveralyears.

c)Acompanywithhighlyvolatileandnon-recurringdividendpayments.

d)Acompanyinarapidlygrowingindustrywithnegativeearnings.

6.Whichofthefollowingfinancialstatementratiosmeasuresacompanysabilitytomeetitsshort-termobligationsusingitscurrentassets?

a)Debt-to-equityratio

b)Timesinterestearnedratio

c)Currentratio

d)Price-to-earningsratio

7.Astockhasanexpectedreturn