學(xué)習(xí)學(xué)的如何？知識(shí)點(diǎn)學(xué)習(xí)累了，跟著融躍CFA一起做一下CFA一級(jí)考試題，檢測(cè)一下自己的學(xué)習(xí)成果，遇到問題我們一起解決！

An analyst does research about the dividend discount model (DDM).All else being equal, the earnings multiplier for a stock decreases with an increase in the:【單選題】

A.expected dividend growth rate.

B.expected dividend payout ratio.

C.estimated required rate of return on equity.

正確答案:C

答案解析:P/E = payout ratio/(k-g)，所以當(dāng)預(yù)期的股利增長(zhǎng)率或者預(yù)期的股利發(fā)放比率增加時(shí)，P/E比率都會(huì)上升，而如果估計(jì)的必要回報(bào)率增加的話，P/E比率則會(huì)下降。


An analyst does research about trade restriction.A primary reason for a country to adopt restrictions on international trade is that restrictions typically:【單選題】

A.improve short-run economic efficiency.

B.benefit consumers at the expense of producers.

C.provide concentrated benefits to a small group of people.

正確答案:C

答案解析:限制國(guó)際貿(mào)易并不能促進(jìn)短期的經(jīng)濟(jì)有效性，而是有利于生產(chǎn)廠商，并且會(huì)犧牲消費(fèi)者的利益。但是，限制國(guó)際貿(mào)易為一小部分人提供了利益，如本地的生產(chǎn)廠商受到國(guó)外產(chǎn)品的競(jìng)爭(zhēng)會(huì)減少，從而能夠獲得更多的利潤(rùn)。

CFA考試題的練習(xí)是相當(dāng)重要的，考生如果沒有掌握知識(shí)點(diǎn)做題會(huì)有理解偏差的，這邊有CFA備考課程和題庫(kù)有需要可以在線咨詢或者添加老師微信。