2020年CFA考試《CFA三級》考試共240題，分為單選題。小編每天為您準備了5道每日一練題目（附答案解析），一步一步陪你備考，每一次練習的成功，都會淋漓盡致的反映在分數上。一起加油前行。

1、【單選題】

A.Low dividend paying stock.

B.Tax exempt bonds.

C.Taxable bonds.

正確答案:C

答案解析:C is correct. In this regime, interest would be taxed heavily and is most appropriate for a 

2、Which of the summary points regarding real estate provisions is correct?【單選題】

A.Statement 3.

B.Statement 4.

C.Statement 5.

正確答案:C

答案解析:Statement 3 is incorrect in applying the special real estate provisions to private debt. Both private and public debt 

3、【單選題】

A.Yes

B.No, the bond price should decrease.

C.No, the bond price should increase.

正確答案:B

答案解析:B is correct. An increase in interest rates results in a decrease in the bond price. An increase in the credit 

4、Based on Exhibit 1, which of the following sub-styles is most consistent with Manager C’s investment style?【單選題】

A.Low P/E

B.High yield

C.Earnings momentum

正確答案:C

答案解析:Manager C follows a growth investment style. Earnings momentum is a growth investment sub-style.

5、The trading tactics at Ramsey's previous firm most likely focused on:【單選題】

A.liquidity at any cost.

B.the need for a trustworthy agent.

C.costs not being important.

正確答案:A

答案解析:Liquidity at any cost is a trading tactic for immediate execution in institutional block size. Liquidity at any cost tactics are typically used by information-motivated traders who require timely execution. Weaknesses of liquidity at any cost include high costs, such as commissions and price concessions, related to market impact.