CFA考試屬于金融考試，在考試中有大多數(shù)是計(jì)算題，不知道你現(xiàn)在復(fù)習(xí)的怎么樣了？對(duì)CFA計(jì)算題掌握的怎么樣了呢？

接下來(lái)我們看看下面的這兩道CFA計(jì)算題你會(huì)做嗎？會(huì)用計(jì)算器計(jì)算嗎？畢竟CFA考試時(shí)間有限，熟練掌握計(jì)算器才是有效的！

【例1】Assume management fees are calculated using end-of-period valuation. Theinvestor’s net return given this fee structure is closest to:

A.10.88%.

B.9.79%.

C.9.68%.

答案: A

解析:在計(jì)算incentive fee的時(shí)候要考慮到high water mark。

Management fee: 2% of $125 million = $2.5 million

Incentive fee: 20% of ($125 million ? $113.6 million) = $2.28 million

In total: $2.5 million + $2.28 million = $4.78 million

【例2】A hedge fund with an initial value of $100 million has a management fee of 2% and an incentive fee of 20%. Management and incentive fees are calculated independently using end-of-period valuation. The value must reach the previous high-water mark before incentive fees are paid. The table below provides end-of-period fund values over the next three years.

The total amount of fees earned by the hedge fund in Year 3 is closest to:

A.$4.8 million.

B.$5.5 million.

C.$5.9 million

答案: A

解析:在計(jì)算incentive fee的時(shí)候要考慮到high water mark。

Management fee: 2% of $125 million = $2.5 million

Incentive fee: 20% of ($125 million ? $113.6 million) = $2.28 million

In total: $2.5 million + $2.28 million = $4.78 million

融躍老師給你出了兩個(gè)考試CFA計(jì)算題，也把考試解析給你說(shuō)了說(shuō)，如果你需要考試題的話，可以到融躍官網(wǎng)看看，如需要一些歷年的真題可以聯(lián)系我們的老師領(lǐng)取！

戳：各科必背定義+歷年真題中文解析+學(xué)習(xí)備考資料（PDF版）