備考中不可或缺的就是做題，在備考CFA一級考試中刷題是平常的，我們知道CFA一級考試是單選題，但是也不能掉以輕心，畢竟是10個科目知識的學習糅合在這些試卷中，考生需要了解考試題型的！
For a European Call option on a stock, which of the following changes, (looking at each change individually and keeping all other factors constant) would an analyst be least likely confident about an up or down movement in the price of the option?
A: Share price goes up; dividend goes up
B: The demand for share increases / supply decreases; interest rates fall
C: Share increases in volatility; the firm cancels the next dividend
答案及解析:“Share price up = Option Price Up Dividend up = Option Price Down (dividends are benefits of holding the underlying share, when holding the option, you do not receive dividend)Share in High Demand = Option Price down as this is a benefit in holding the underlying Interest Rates Fall = Option Price Down as this reduces the cost of carry of holding the underlying Share increases in volatility = Option Price Up Cancels next dividend = Option Price Up, as these dividends are not received by the option holder anyway A is the correct answer; as the increase in the option price due to the share going up could be offset by the decrease in the price due to the dividend going up.
B results in the option price falling for both scenarios and C results in the option price rising in both scenarios.”這就是CFA一級考試題型，備考CFA考試不是說做對CFA考試題就行了，考生需要掌握的是背后的知識點， 這邊有相關的資料和課程，有需要可以在線咨詢或者添加CFA老師微信。
