CFA考试考定量和定性考试题，那是怎样的？

CFA一级考试中考试题型大家都知道是单选题，单选题也是有区别的，考试考定量和定性考试题，那是怎样的？跟着融跃CFA一起看看CFA考试例题就知道了！

Which of the following types of investment clients most likely have the lowest liquidity needs？

A.Endowments and foundations

B.Insurance companies

C.Banks

【答案】A

【解析】A基金的投资期限长，投资目标是在获得资本增值的同时，得到复核机构目标的收入，流动性需求较保险公司及银行来说较小。因为保险公司要应对赔付，银行要应对客户取款。

Faye Harlan, CFA, is estimating the cost of common equity for Cyrene Corporation.She prepares the following data for Cyrene:

·Price per share = $50.

·Expected dividend per share = $3. ·Expected retention ratio = 30%.

·Expected return>·Beta = 0.89.

·Yield to maturity>·The expected market rate of return is 12% and the risk-free rate is 3%.

Based on these data, Harlan determines that Cyrene's cost of common equity is 14%. Harlan most likely arrived at this estimate by using the:

A. dividend discount model approach.

B. capital asset pricing model approach.

C. bond yield plus risk premium approach.

【答案】C

【解析】运用CAPM：estimated cost of common equity = 3% + 0.89(12% - 3%) = 11%.

运用DDM：growth rate = (0.3)(0.2)=6%,estimated cost of common equity = $3 / $50 + 6% = 12%.

因此如果计算出的股权融资成本为14%, Harlan运用的方法应该是bond yield + risk premium。

这就是CFA考试出的考试题，考生在备考中是要刷题的，不知道你是不是刷题了呢？这边有CFA考试题库可以帮助你，有需要可以在线咨询或者添加老师微信。