唯學網小編提醒：參加特許金融分析師考試CFA，就不能打無準備之仗，至少你要明白最接近的考試中AIMR到底都考了那些知識，更別提大量的重復了。2004年6月的考試和2003年12月的考試重復率極高，初步估計在70%以上。所以，試題是重點，一些重復的信息考生也要格外的關注。希望本文的CFA金融分析師考試試題能對考生有幫助。

1. A portfolio of no-dividend-paying common stocks earned a geometric mean return of 5 percent between 1 January 1996 and 31 December 2002. The arithmetic mean return for the same period was 6 percent. If the market value of the portfolio at the beginning of 1996 was $100,000, the market value of the portfolio at the end of 2002 was closest to

A . 135,000

B. 140,710

C. 142,000

D. 150,363

Answer: B

There are seven annual periods between I January 1996 and 31 December 2002, the market value of the portfolio

2. Which of the following statements about standard deviation is most accurate? Standard deviation:

A. is the square of the variance.

B. can be a positive number or a negative number.

C. is denominated in the same units as the original data.

D. is the arithmetic mean of the squared deviations from the mean.

Answer: C

The arithmetic average of the squared deviations around mean is the variance. The standard deviation is the positive square root of the variance and is denominated in the same units as the original data

3. An analyst developed the following probability distribution of the rate of return for a common stock

Scenario Probability Rate of Return

1 0.25 0.08

2 0.50 0.12

3 0.25 0.16

The standard deviation of the rate of return is closest to

A. 0.0200

B. 0.0267

C. 0.0283

D. 0.0400

Answer:C

Expected value=0.12

Variance=0.0008

Standard deviation=0.028