更多服务

特色服务

找学习资源

查报考信息

看备考资讯

备考工具箱

报考指南

报名入口

报名流程

考试动态

考试日历

备考指南

资料中心

福利政策

免费题库

全部

CFA历年考题试题(60)

来源：高顿网校 2013-04-28

Example:Electcomp Corporation manufactures electronic components for computers and other devices. There is speculation that Electcomp will soon announce a major expansion into overseas markets. Electcomp would only do this if its managers estimated the demand to be sufficient to support the sales. If demand is sufficient, Electcomp would also be more likely to raise prices. For ease of notation, let expand overseas = "O" and let increase prices = "I."

An industry analyst determines the following probabilities:

P(I) = 0.3 and P(I^C) = 0.7

P(O given I) = 0.6 and P(O given I^C) = 0.2

The probabilities P(I) and P(I^C) are also called the priors. Bayes' formula now allows us to compute P(I given O) where this is the updated probability given new information about "I." We recall the following formulas:

Conditional probability: P(I given O) = P(IO) / P(O)

Joint probability: P(IO) = P(O given I) * P(I)

For this case, Bayes' formula becomes:

P(I given O) = {P(O given I) / P(O)} * P(I)

Use the total probability rule to compute P(O):

P(O) = P(O given I) * P(I) + P(O given I^C) * P(I^C)

P(O) = 0.6 * 0.3 + 0.2 * 0.7 = 0.32

P(I given O) = {.6 / .32} * .3 = .5625

If the new information of expand overseas is announced, the prior probability of P(I) = 0.30 must be updated with the new information to give P(I given O) = .5625.

u: Calculate the number of ways a specified number of tasks can be performed using the multiplication rule of counting.

The multiplication rule of countingapplies when we have a list of k choices, and each choice "i" has n_iways of being chosen. The number of total choices is n₁* n₂*...*n_k.

Example:An analyst is interested in whether a firm raises prices, lowers prices, or keeps prices the same. The analyst also is interested in whether the firm expands overseas. Each of these represent separate choices that can occur in different ways: n₁= 3 and n₂= 2. This gives n * n₂= 2*3 = 6 possible ways of arranging the

choices. The list of possible pairs of choices is: (raise prices, expand), (raise prices, not expand), (lower price, expand), (lower prices, not expand), (keep prices the same, expand), (keep prices the same, not expand).

If a third item is up for consideration for which there are n₃choices, then there will be n₁* n₂* n₃ways of arranging the items.

v: Solve counting problems using the factorial, combination, and permutation notations.

Labelingis where there are nitems of which each can receive one of klabels. The number of items that receive label "1" is n₁and the number that receive label "2" is n₂, etc. Also, the following relationship holds:

n₁+ n₂+ n₃+...+n_k= n.

The number of ways labels can be assigned is:

n! / (n₁

!) * (n₂!) *...*(n_k!).

On your TI financial calculator, factorial is [2nd], [x!].

Example:A portfolio consists of eight stocks. The goal is to designate four of the stocks as "long-term holds," designate three of the stocks as "short-term holds," and designate one stock a "sell." How many ways can these labels be assigned to the eight stocks? The answer is (8!) / (4!*3!*1!) = (40,320) / (24*6*1) =280.

w: Distinguish between problems for which different counting methods are appropriate.

The multiplication ruleof counting is used when there are two or more groups. The key is that we choose only one item from each group.

Factorialis used by itself when there are no groups - we are only arranging a given set of n items. Given n items, there are n! ways of arranging them.

The labeling formulaapplies to three or more sub-groups of predetermined size. Each element of the entire group must be assigned a place or label in one of the three or more sub-groups.

The combination formulaapplies to only two groups of predetermined size. Look for the word "choose" or "combination."

版权声明：本条内容自发布之日起，有效期为一个月。凡本网站注明“来源高顿教育”或“来源高顿网校”或“来源高顿”的所有作品，均为本网站合法拥有版权的作品，未经本网站授权，任何媒体、网站、个人不得转载、链接、转帖或以其他方式使用。经本网站合法授权的，应在授权范围内使用，且使用时必须注明“来源高顿教育”或“来源高顿网校”或“来源高顿”，并不得对作品中出现的“高顿”字样进行删减、替换等。违反上述声明者，本网站将依法追究其法律责任。本网站的部分资料转载自互联网，均尽力标明作者和出处。本网站转载的目的在于传递更多信息，并不意味着赞同其观点或证实其描述，本网站不对其真实性负责。如您认为本网站刊载作品涉及版权等问题，请与本网站联系(邮箱fawu@gaodun.com，电话：021-31587497)，本网站核实确认后会尽快予以处理。

展开全文咨询在线

点一下领资料

【超详细保姆教程】CFA考试真题

真题高频考点，刷题全靠这份资料

下载合集

CFA报考指南

梳理核心考点，一图看懂全部章节

下载合集

CFA-L1-考纲-2023

全科备考学习打卡表,备考按照计划走

cfa备考热门问题解答

cfa证书就业岗位有哪些？: cfa考完后可以从事的工作包括公司会计、基金经理助理、投资管理师、股票研究分析师、基金分析师、投资产品分析师、券商助理分析师、交易员等。在全球范围内，cfa会员的雇主包括了摩根大通、汇丰银行等机构。

cfa考试内容有哪些？: cfa考试分为三个等级，cfa一级和二级考试科目包括《职业伦理道德》、《定量分析》、《经济学》、《财务报表分析》、《公司理财》、《投资组合管理》、《权益投资》、《固定收益投资》、《衍生品投资》、《其他类投资》。cfa三级考试科目包括《经济学》、《投资组合管理》、《权益投资》、《职业伦理道德》、《固定收益投资》、《其他类投资》、《衍生工具》。

cfa一年考几次？: cfa每年考试的次数每个级别均有不同，其中CFA一级考试每年设置四次，CFA二级考试每年设置三次，CFA三级考试每年设置两次。需注意，协会规定考生必须要按照CFA考试的三个级别，依次进行报考，且报考两个级别考试的窗口之前需至少间隔6个月。

cfa的含金量如何？: CFA证书全称Chartered Financial Analyst（特许注册金融分析师），是全球投资业里最为严格与高含金量资格认证，为全球投资业在道德操守、专业标准及知识体系等方面设立了规范与标准，具有较高的知名度和影响力。英国的国际学术认证中心，还将持有CFA证书视为拥有硕士学历水平，能让想进修的金融专业人士，充分学习等同于金融硕士的知识课程。此外，人民日报三年内连续四次推荐CFA证书！因此，无论是从国际知名度还是国内知名度来说，CFA资格认证的含金量和认可度都是非常高的。

在线提问

严选名师全流程服务

陈一磊

高顿CFA研究院主任