CFA考試中有許多的考生會(huì)因?yàn)榭荚囶}出錯(cuò)而錯(cuò)失考試，那在CAF一級(jí)經(jīng)濟(jì)學(xué)中考生出錯(cuò)的知識(shí)點(diǎn)也是蠻多的，那考生在哪些考點(diǎn)上容易出錯(cuò)呢？今天融躍小編給你說(shuō)兩個(gè)知識(shí)點(diǎn)！

CFA考點(diǎn)1：Profit Maximum

A profit maximum is least likely to occur when:

A average total cost is minimized

B marginal revenue equals marginal cost

C the difference between total revenue and total cost is maximized

答案：A is correct. The quantity at which average total cost is minimized does not necessarily correspond to a profit maximum.

解題思路

Profit=TR-TC; ①當(dāng)兩者之差達(dá)到*值時(shí)，說(shuō)明此時(shí)的profit為*值;②求導(dǎo)方法，TR'-TC'=0時(shí)，此時(shí)profit達(dá)到*值，即MR=MC

易錯(cuò)點(diǎn)分析：

這道題不少同學(xué)都沒(méi)有看清least likely，zui后選擇錯(cuò)誤。選擇A是因?yàn)榕袛?/span>profit大小時(shí)，不能單由cost判斷，還要考慮revenue和產(chǎn)量。Cost zui低的時(shí)候，Revenue和產(chǎn)量可能同時(shí)比較小，如此總的Revenue就很低，那么利潤(rùn)也很低。

CFA考點(diǎn)2：target exchange rate

A country that maintains a target exchange rate is most likely to have which outcome when its inflation rate rises above the level of the inflation rate in the target country?

A. An increase in short-term interest rates.

B. An increase in the domestic money supply.

C. An increase in its foreign currency reserves.

答案：

A is correct. Interest rates are expected to rise to protect the exchange rate target.

解題思路

如果A國(guó)盯住B國(guó)的匯率，那么A國(guó)通脹上漲會(huì)導(dǎo)致A國(guó)的貨幣貶值。為了阻止A國(guó)貨幣的貶值，A國(guó)可以實(shí)施一個(gè)緊縮的貨幣政策，提升利率水平，吸引外資流入，穩(wěn)定匯率水平。所以A選項(xiàng)正確。

易錯(cuò)點(diǎn)分析：

這道題有不少同學(xué)會(huì)在C選項(xiàng)上猶豫。如果A國(guó)增加自己的外匯儲(chǔ)備，它相當(dāng)于與賣出本國(guó)的貨幣，買進(jìn)外國(guó)的貨幣。那么大量的本國(guó)貨幣投放如市場(chǎng)，類似于實(shí)施了一個(gè)擴(kuò)張的貨幣政策。這會(huì)導(dǎo)致A國(guó)匯率降低而不是升高。

此外，B選項(xiàng)增加貨幣供給是一個(gè)擴(kuò)張的貨幣政策，它會(huì)導(dǎo)致利率下降，幣值下跌，也不入選。


所以在備考的時(shí)候多看看CFA知識(shí)，如果有CFA知識(shí)沒(méi)有弄明白的，考生一定要好好的注意，不要因?yàn)樽约旱闹R(shí)不牢而失去分?jǐn)?shù)，畢竟CFA機(jī)考后CFA考試報(bào)考次數(shù)只有6次的機(jī)會(huì)哦！