2025年CFA三级模拟试卷及解析集.docxVIP

2025年CFA三级模拟试卷及解析集

考试时间：______分钟总分：______分姓名：______

注意：以下所有问题均为选择题，请选择最合适的答案。

1.Aninvestmentmanagerisevaluatingaportfoliosperformance.Theportfoliosreturnwas12%inYear1and-8%inYear2.Themanagerusesthegeometricmeanreturntoannualizetheportfoliosreturnoverthetwo-yearperiod.Whichofthefollowingistheannualizedreturn?

A.10.24%

B.11.00%

C.2.00%

2.Acompanysstockhasabetaof1.5.Therisk-freerateis3%,andthemarketriskpremiumisestimatedat5%.AccordingtotheCapitalAssetPricingModel(CAPM),whatistheexpectedreturn