學(xué)習(xí)學(xué)的如何？知識點(diǎn)學(xué)習(xí)累了，跟著融躍CFA一起做一下CFA一級考試題，檢測一下自己的學(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)期的股利增長率或者預(yù)期的股利發(fā)放比率增加時(shí)，P/E比率都會上升，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，并且會犧牲消費(fèi)者的利益。但是，限制國際貿(mào)易為一小部分人提供了利益，如本地的生產(chǎn)廠商受到國外產(chǎn)品的競爭會減少，從而能夠獲得更多的利潤。
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點(diǎn)做題會有理解偏差的，這邊有CFA備考課程和題庫有需要可以在線咨詢或者添加老師微信。
