備考CFA考試，一定要多刷題，多練習。2022年CFA考試《CFA二級》考試共240題，以下是幫考網為您準備的5道練習題，附答案解析，供您備考練習。幫考網一步一步陪你備考，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、Based on Exhibit 1, the maximum loss of Strategy 1 is:【單選題】

A.￥210.44.

B.￥225.76.

C.￥232.34.

正確答案:A

答案解析:A is correct. Strategy 1 is a covered call position using SMTC July 240 calls. A covered call position is a combination of a long position in the shares ａｎｄ a short call option. Fｏｒthis covered call position on SMTC, YCM would have a long position in SMTC shares ａｎｄ a short position in the July 240 call option on SMTC shares. The maximum loss fｏｒthis covered call position would occur if the SMTC share price fell to zero. The loss on the shares would be reduced by the amount of the premium received from selling the call option. Therefore, the maximum loss of Strategy 1 is the difference between the original share price (S0) ａｎｄ the option premium (c

2、Should Costa’s end-of-meeting comments result in changes to Hernández’s capital budgeting analysis?【單選題】

A.No.

B.Yes, but only to incorporate the possible delay.

C.Yes, to incorporate both the possible delay ａｎｄ the cost of producing the prototype.

正確答案:B

答案解析:B is correct. Timing options (e.g., delay investing) should be included in the NPV analysis, but sunk costs should not.

3、Are the two observations Berg records after the fixed income conference accurate?【單選題】

A.Both statements are accurate.?

B.Only Statement 1 is accurate.

C.Only Statement 2 is accurate.

正確答案:A

答案解析:Statement 1 is correct. Swap markets tend to have more maturities with which to construct a yield curve as compared to government bond markets. Statement 2 is correct. Retail banks tend to have little exposure to swaps ａｎｄ hence are more likely to use the government spot curve as their benchmark.

4、【單選題】

A.Justification 1

B.Justification 2

C.Justification 3

正確答案:A

答案解析:It is a violation of Standard VII (B): Reference to CFA Institute, the CFA Designation, ａｎｄ the CFA Program to imply that the competencies of a CFA charter holder are superiｏｒto those of others not holding the designation. It is not a violation, however, to factually state that charter holders must annually renew their commitment to abide by the Code ａｎｄ Standards ｏｒthat each of the team members passed all three CFA exams on their first attempt.

5、GNSK can best be described as being in which of the following growth stages?【單選題】

A.Transition

B.Mature

C.Growth

正確答案:C

答案解析:GNSK is in the growth stage because it is expanding rapidly ａｎｄ enjoying the benefits of the health food market, which is also growing rapidly. GNSK is also experiencing high ａｎｄ　growing profit margins as well as abnormally high earnings per share growth, which are all indicative of a company in its growth phase.

希望以上練習題對您的復習有所幫助，幫考網祝您考試成功!