the possibility of a positively sloping demand curve. Answer = B  Veblen goods violate the fundamental axioms of demand theory, whereas Giffen goods do not. CFA Level I "Demand and Supply Analysis: Consumer Demand," Richard V. Eastin and Gary L. Arbogast Sections 6.4, 6.5   CFA特许金融分析师1-3级【沪江金程联合开发】 权威名师倾情打造，助力

in terms of returns. C. comply with all requirements of the GIPS standards, such as updates, guidance statements, and clarifications. Answer = B Firms must provide investors with a comprehensive view of their performance in terms of risk and returns, not just returns. CFA Level I “The GIPS Standards

现在英语在中国越来越占主要地位，像大部分人在以前教育不发达的情况下英语基本都不是很好，现在都会为了学好英语找个成人英语培训班。那么，该如何选择一家适合自己的成人英语培训机构呢?考量一家成人英语培训机构需要看重哪几点呢?小编这里提供几点选择方法。 调研各大培训机构 现在的培训机构鱼龙混杂，有真正的性价比高的培训机构，也有浑水摸鱼的垃圾机构。所以在做选择的时候一定要慎之又慎，做好调研。例如将各大培训机构的优势、劣势、培训重点、学员评价等指标，进行对比，选择符合度最高的几家机构作为候选。 实地进行课程试听 通过优劣势对比，选择出了一些比较心仪的候选培训机构，接下来要做的就是对这些机构进行“一对一微服私访”，经过自己的亲身体会之后，相信你会对这些机构有了更加真实的了解。 了解别人的成功经验 如果你是一个“犹豫不决“的人，做了这么多调研还是无法做出选择的话，那你就去看看别人的评价，也许这些评价有真有假，但都可以作为一个参考。 教学环境 教学环境的考察主要是考察教学区的设置是否合理，教学环境硬件设施是否完善，教室面积、大小通风以及教学服务等。 以上是小编对于如何选择一个合适的成年人英语培训机构所给出的个人建议，相信对于大家还是比较有帮助的，一定要慎重选择出适合自己的培训机构。

Question： The minimum rate of return an investor must receive in order to accept an investment is best described as the: A. internal rate of return. B. required rate of return. C. expected return. Answer = B The required rate of return is the minimum rate of return an investor must receive in order to accept an investment. CFA Level I "The Time Value of Money," Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, and David E. Runkle Section 2     CFA特许金融分析师1-3级【沪江金程联合开发】 权威名师倾情打造，助力通过金融第一考 查看折扣 CFA特许金融分析师1级【沪江&金程联合开发】 权威名师倾情打造，助力通过金融第一考 查看折扣 金融英语【沪江金程联合开发】 双语教学，助力提升金融专业英语水平 查看折扣 更多精彩： CFA、CPA、FRM、ACCA 各自的优劣势及持证人从业方向 只考CFA一级有用吗？ 零基础、跨专业CFA一级10A心得，一千个考友就有一千种备考方式  

of the whole market   CFA Level I “Introduction to Alternative Investments,” by Terri Duhon, George Spentzos, and Scott D. Stewart Section 5   CFA特许金融分析师1-3级【沪江金程联合开发】 19年12月-22年6月考季的考生，助力通过金融第一考 查看折扣 CFA1级1912考季【沪江金程联合开发】 权威名师倾情打造，助力通过金融第一考 查看折扣 金融英语【沪江金程联合开发】 为零基础学员提供学习指导 查看折扣 更多精彩： CFA考试介绍及难度 CPA证书和CFA证书哪个比较难考？哪个比较实用？ CFA和FRM的区别

Question： Which characteristic is a firm least likely to exhibit when it operates in a market with a downward  sloping demand curve, many competitors, and zero economic profits in the long run?  A. Differentiated product  B. Low barriers to entry  C. No pricing power  Answer = C  The characteristics of monopolistic competition include a large number of competitors, low pricing  power, and the production of differentiated products (through advertising and other non-price  strategies), but these still result in some pricing power. The ease of entry results in zero economic  profits in the long run.  CFA Level I  "The Firm and Market Structures," Richard G. Fritz and Michele Gambera  Sections 2.1, 2.2, 4      CFA特许金融分析师1-3级【沪江金程联合开发】 19年12月-22年6月考季的考生，助力通过金融第一考 查看折扣 CFA1级1912考季【沪江金程联合开发】 权威名师倾情打造，助力通过金融第一考 查看折扣 金融英语【沪江金程联合开发】 为零基础学员提供学习指导 查看折扣 更多精彩： CFA一级企业理财的学习策略 要进投行？是不是必须要考CFA！？  

Question： The index weighting that results in portfolio weights shifting away from securities that have increased in relative value toward securities that have fallen in relative value whenever the portfolio is rebalanced is most accurately described as:  A. float-adjusted market-capitalization weighting.  B. equal weighting.  C. fundamental weighting.    Answer = C  Fundamentally weighted indices generally will have a contrarian “effect” in that the portfolio weights will shift away from securities that have increased in relative value and toward securities that have fallen in relative value whenever the portfolio is rebalanced.   CFA Level I “Security Market Indices,” Paul D. Kaplan and Dorothy C. Kelly Section 3.2.4.   CFA特许金融分析师1-3级【沪江金程联合开发】 19年12月-22年6月考季的考生，助力通过金融第一考 查看折扣 CFA1级1912考季【沪江金程联合开发】 权威名师倾情打造，助力通过金融第一考 查看折扣 金融英语【沪江金程联合开发】 为零基础学员提供学习指导 查看折扣 更多精彩： CFA持证人普遍青睐的3个职位是什么？ CFA一级大三可以考吗？一级的含金量有多高? CFA二级比一级难在哪里？  

less price volatility than the underlying common shares.    Answer = C  Convertible preference shares tend to exhibit less price volatility than the underlying common shares because the dividend payments are known and more stable.   CFA Level I “Overview of Equity Securities,” Ryan C. Fuhrmann

  CFA Level I  "Basics of Derivative Pricing and Valuation," Don M. Chance  Section 2.2.5   CFA特许金融分析师1-3级【沪江金程联合开发】 19年12月-22年6月考季的考生，助力通过金融第一考 查看折扣 CFA1级1912考季【沪江金程联合开发】 权威名师倾情打造，助力通过金融第一考 查看折扣 金融英语【沪江金程联合开发】 为零基础学员提供学习指导 查看折扣 更多精彩： 2016年6月CFA报名开始及具体报名流程（第一阶段截止至9月23日） CFA考试介绍及难度 通过CFA一级需要花费多长时间？  

= B  The increase in the value of the land bypasses the income statement and goes directly to a revaluation surplus account in equity, assuming no previous decreases in value in the asset class forrevaluation purposes. Equity increases, thereby decreasing the debt-to-equity ratio.   CFA Level I