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本帖最后由 一起学CFA 于 2016-1-19 09:38 编辑 * j8 L' Y P- u- ~
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CFA Level I：Economics - Monetary and fiscal policy 精选题和学习要点
& i) G5 c! A' x L4 {6 ]Learning Outcome Statements (LOS)
* h* t! c8 X$ o. F/ }( _0 S! Na. Compare monetary and fiscal policy4 ]9 C. i1 Y: s$ W9 R7 j+ n
b. Describe functions and definitions of money3 {% `; A+ Y- R# j3 {7 O
c. Explain the money creation process7 M; a) ?" E V+ X" u* A
d. Describe theories of the demand for and supply of money
& J0 L. v; t7 b Ee. Describe the Fisher effect1 Z- E5 d5 E( z( R; u1 f
f. Describe the roles and objectives of central banks5 T0 C7 H/ ~# i% g: _
g. Contrast the costs of expected and unexpected
* P3 M3 d( l) w3 i% H* s+ Eh. Describe the implementation of monetary policy
1 y) J0 x/ z# Z6 g+ t' z3 m+ ci. Describe the qualities of effective central banks+ k0 z& C# U6 n# }' f% H* a
j. Explain the relationships between monetary policy and economic growth, inflation, interest, and exchange rates+ F% L6 T1 v5 }% T+ S3 U0 W( B5 O
k. Contrast the use of inflation, interest rate, and exchange rate targeting by central banks
0 b! T( O! L1 L6 v$ I0 W6 L6 ]l. Determine whether a monetary policy is expansionary or contractionary
^3 T" k0 c8 E: G9 xm. Describe the limitations of monetary policy7 F! Y. u4 P3 p5 Q2 |% O
n. Describe the roles and objectives of fiscal policy
. @* B! q8 ^4 O a$ z: Yo. Describe the tools of fiscal policy, including their advantages and disadvantages
* O; J9 e2 H* V; e7 J$ Pp. Describe the arguments for and against being concerned with the size of a fiscal deficit (relative to GDP)
: S; N }: `0 gq. Explain the implementation of fiscal policy and the difficulties of implementation
; R; U* O; ]; {! _6 p2 wr. Determine whether a fiscal policy is expansionary or contractionary& I- {# |- r* _6 W7 O! P9 q! `0 s0 r/ L
s. Explain the interaction of monetary and fiscal policy
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7 L9 V: W6 s( t' k6 f( d2 aExercise Problems：
* ]0 {8 U$ ]* u7 o! B1. The monetary policy tools available to the Federal Reserve are least likely to include：; D2 v9 W, L1 X
A. Open market operations
1 p- ?1 x+ L2 o4 X8 Q. z: _6 T9 k7 uB. The ability to determine the required reserve ratios of its member banks 3 q* B1 X1 P ?4 Q3 M
C. Adjustments to the amount of gold held as reserves against Federal Reserve notes
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答案和详解，登录后回复可见：
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2. The primary monetary policy goal of most major central banks is best characterized as：
Q/ m" B0 I' P7 W9 g4 jA. Containing inflation
1 {1 N- B2 H$ L+ r, G4 @B. Stimulating economic growth & p# _0 ^4 m$ p9 U4 ~" r( l
C. Maintaining low interest rates
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2 p6 i8 R- d3 D3 @+ E3. Which of the following actions on the part of central bank is consistent with increasing the quantity of money? # }; o4 S" c( |4 T* ?& Z' g- h5 n
A. Increasing reserve requirements - ^6 e- k1 Q, L& y l6 b0 \7 b
B. Selling securities on the open market 5 R t* q/ B) P0 N6 F
C. Purchasing securities on the open market
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$ [$ x$ j8 q- L9 k4. In an effort to influence the economy, a central bank conducted open market activities by selling government bonds. This implies that the central banks is most likely attempting to：& N4 w' T7 [% ]8 U/ S* C
A. Contract the economy by reducing bank reserves 2 ]2 m, m& a" w2 v
B. Expand the economy through a lower policy interest rate , s2 J& w d% J
C. Contract the economy through a lower policy interest rate $ y0 W( G/ R* c2 f- Q, Z+ i
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, e& L$ C* [" A1 Y. B9 s5. If a government increases its spending on domestically produced goods by an amount that is financed by the same increase in taxes, the aggregate demand will most likely：
4 ~6 u) M7 f, I3 G, p# {6 n) IA. increase
0 W$ u$ K/ p9 m- T; V# u% _6 }B. decrease
' m5 t7 G6 z7 A% GC. remain unchanged
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9 a' O$ t b7 r. c7 _" z8 `9 C更多CFA习题可关注：高顿CFA题库.
8 c; b, c$ B" f1 n/ X9 b7 _3 P% p; a1 A关注微信 CFAFighting （ID:cfa-frm）CFA考试资讯抢先得; a1 H8 Q: B! U7 G# n
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发表于 2016-1-19 09:36:44
发表于 2016-1-25 10:41:11
让我对对答案吧，大神们