備考CFA考試階段財(cái)報(bào)考試題學(xué)習(xí)的如何？這邊有相關(guān)考試題幫助你練習(xí)，看看財(cái)報(bào)的考試題是不是能做對(duì)呢？一起做一下吧！

1、Under conditions of perfect competition, in the long run firms will most likely earn:

A. Normal profits

B. Positive economic profits

C. Negative economic profits

[Solution] A is correct. Competition should drive prices down to long-run marginal cost, resulting in only normal profits being earned.  完全競(jìng)爭(zhēng)市場(chǎng)中，公司在長期中只能賺取Normal Profit。


2.、In the classification of currency regimes, a currency board system (CBS) most likely differs from a fixed-rate parity system in that:

A. a CBS has a discretionary target level of foreign exchange reserves.

B. a CBS can peg to a basket of currencies but a fixed-rate system cannot.

C. the monetary authority within a CBS does not act as a traditional lender of last resort.

[Solution] C is correct. In a CBS, the monetary authority has an obligation to maintain 100% foreign currency reserves against the monetary base. It thus cannot lend to troubled financial institutions. As long as the country under a fixed-parity regime maintains its exchange peg, the central bank can serve as a lender of last resort. Currency board的意思是每發(fā)行以單位貨幣，必須有相當(dāng)于以單位貨幣的reserve量才行。而fixed rate parity system，雖然是頂住某種貨幣，但無需有對(duì)方貨幣作為reserve才能發(fā)行貨幣。這樣的話，fixed system中央行仍然可以隨意發(fā)行貨幣，而currency board不行，所以其喪失了traditional lender of last resort的職能

CFA知識(shí)學(xué)習(xí)是長期的事情，但是堅(jiān)持CFA考試是每一位學(xué)員應(yīng)該做到的。通過CFA考試掌握更多的金融知識(shí)，讓自己變成富有的人。更多CFA備考知識(shí)、資料領(lǐng)取及學(xué)習(xí)答疑的事情，學(xué)員可以在線咨詢老師或者添加老師微信。