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Introduction to Artificial Intelligence智慧树知到课后章节答案2023年下哈尔滨工程大学哈尔滨工程大学第一章测试1.All life has intelligence The following statements about intelligence arewrong（）A:All life has intelligence B:Bacteria do not have intelligence C:At present,human intelligence is the highest level of nature D:From the perspective of life, intelligence is the basic ability of life to adapt to the natural world答案:Bacteria do not have intelligence2.Which of the following techniques is unsupervised learning in artificialintelligence?（）A:Neural network B:Support vector machine C:Decision tree D:Clustering答案:Clustering3.To which period can the history of the development of artificial intelligencebe traced back?（）A:1970s B:Late 19th century C:Early 21st century D:1950s答案:Late 19th century4.Which of the following fields does not belong to the scope of artificialintelligence application?（）A:Aviation B:Medical C:Agriculture D:Finance答案:Aviation5.The first artificial neuron model in human history was the MP model,proposed by Hebb.（）A:对 B:错答案:错6.Big data will bring considerable value in government public services, medicalservices, retail, manufacturing, and personal location services. （）A:错 B:对答案:对第二章测试1.Which of the following options is not human reason:（）A:Value rationality B:Intellectual rationality C:Methodological rationalityD:Cognitive rationality答案:Intellectual rationality2.When did life begin? （）A:Between 10 billion and 4.5 billion years B:Between 13.8 billion years and10 billion years C:Between 4.5 billion and 3.5 billion years D:Before 13.8billion years答案:Between 4.5 billion and 3.5 billion years3.Which of the following statements is true regarding the philosophicalthinking about artificial intelligence?（）A:Philosophical thinking has hindered the progress of artificial intelligence.B:Philosophical thinking has contributed to the development of artificialintelligence. C:Philosophical thinking is only concerned with the ethicalimplications of artificial intelligence. D:Philosophical thinking has no impact on the development of artificial intelligence.答案:Philosophical thinking has contributed to the development ofartificial intelligence.4.What is the rational nature of artificial intelligence?（）A:The ability to communicate effectively with humans. B:The ability to feel emotions and express creativity. C:The ability to reason and make logicaldeductions. D:The ability to learn from experience and adapt to newsituations.答案:The ability to reason and make logical deductions.5.Which of the following statements is true regarding the rational nature ofartificial intelligence?（）A:The rational nature of artificial intelligence includes emotional intelligence.B:The rational nature of artificial intelligence is limited to logical reasoning.C:The rational nature of artificial intelligence is not important for itsdevelopment. D:The rational nature of artificial intelligence is only concerned with mathematical calculations.答案:The rational nature of artificial intelligence is limited to logicalreasoning.6.Connectionism believes that the basic element of human thinking is symbol,not neuron; Human's cognitive process is a self-organization process ofsymbol operation rather than weight. （）A:对 B:错答案:错第三章测试1.The brain of all organisms can be divided into three primitive parts:forebrain, midbrain and hindbrain. Specifically, the human brain is composed of brainstem, cerebellum and brain (forebrain). （）A:错 B:对答案:对2.The neural connections in the brain are chaotic. （）A:对 B:错答案:错3.The following statement about the left and right half of the brain and itsfunction is wrong （）.A:When dictating questions, the left brain is responsible for logical thinking,and the right brain is responsible for language description. B:The left brain is like a scientist, good at abstract thinking and complex calculation, but lacking rich emotion. C:The right brain is like an artist, creative in music, art andother artistic activities, and rich in emotion D:The left and right hemispheres of the brain have the same shape, but their functions are quite different. They are generally called the left brain and the right brain respectively.答案:When dictating questions, the left brain is responsible for logicalthinking, and the right brain is responsible for language description.4.What is the basic unit of the nervous system?（）A:Neuron B:Gene C:Atom D:Molecule答案:Neuron5.What is the role of the prefrontal cortex in cognitive functions?（）A:It is responsible for sensory processing. B:It is involved in emotionalprocessing. C:It is responsible for higher-level cognitive functions. D:It isinvolved in motor control.答案:It is responsible for higher-level cognitive functions.6.What is the definition of intelligence?（）A:The ability to communicate effectively. B:The ability to perform physicaltasks. C:The ability to acquire and apply knowledge and skills. D:The abilityto regulate emotions.答案:The ability to acquire and apply knowledge and skills.第四章测试1.The forward propagation neural network is based on the mathematicalmodel of neurons and is composed of neurons connected together by specific connection methods. Different artificial neural networks generally havedifferent structures, but the basis is still the mathematical model of neurons.（）A:对 B:错答案:对2.In the perceptron, the weights are adjusted by learning so that the networkcan get the desired output for any input. （）A:对 B:错答案:对3.Convolution neural network is a feedforward neural network, which hasmany advantages and has excellent performance for large image processing.Among the following options, the advantage of convolution neural network is（）.A:Implicit learning avoids explicit feature extraction B:Weight sharingC:Translation invariance D:Strong robustness答案:Implicit learning avoids explicit feature extraction;Weightsharing;Strong robustness4.In a feedforward neural network, information travels in which direction?（）A:Forward B:Both A and B C:None of the above D:Backward答案:Forward5.What is the main feature of a convolutional neural network?（）A:They are used for speech recognition. B:They are used for natural languageprocessing. C:They are used for reinforcement learning. D:They are used forimage recognition.答案:They are used for image recognition.6.Which of the following is a characteristic of deep neural networks?（）A:They require less training data than shallow neural networks. B:They havefewer hidden layers than shallow neural networks. C:They have loweraccuracy than shallow neural networks. D:They are more computationallyexpensive than shallow neural networks.答案:They are more computationally expensive than shallow neuralnetworks.第五章测试1.Machine learning refers to how the computer simulates or realizes humanlearning behavior to obtain new knowledge or skills, and reorganizes the existing knowledge structure to continuously improve its own performance.（）A:对 B:错答案:对2.The best decision sequence of Markov decision process is solved by Bellmanequation, and the value of each state is determined not only by the current state but also by the later state.（）A:对 B:错答案:对3.Alex Net's contributions to this work include: （）.A:Use GPUNVIDIAGTX580 to reduce the training time B:Use the modified linear unit (Re LU) as the nonlinear activation function C:Cover the larger pool to avoid the average effect of average pool D:Use the Dropouttechnology to selectively ignore the single neuron during training to avoid over-fitting the model答案:Use GPUNVIDIAGTX580 to reduce the training time;Use themodified linear unit (Re LU) as the nonlinear activation function;Cover the larger pool to avoid the average effect of average pool;Use theDropout technology to selectively ignore the single neuron duringtraining to avoid over-fitting the model4.In supervised learning, what is the role of the labeled data?（）A:To evaluate the model B:To train the model C:None of the above D:To test the model答案:To train the model5.In reinforcement learning, what is the goal of the agent?（）A:To identify patterns in input data B:To minimize the error between thepredicted and actual output C:To maximize the reward obtained from theenvironment D:To classify input data into different categories答案:To maximize the reward obtained from the environment6.Which of the following is a characteristic of transfer learning?（）A:It can only be used for supervised learning tasks B:It requires a largeamount of labeled data C:It involves transferring knowledge from onedomain to another D:It is only applicable to small-scale problems答案:It involves transferring knowledge from one domain to another第六章测试1.Image segmentation is the technology and process of dividing an image intoseveral specific regions with unique properties and proposing objects ofinterest. In the following statement about image segmentation algorithm, the error is （）.A:Region growth method is to complete the segmentation by calculating the mean vector of the offset. B:Watershed algorithm, MeanShift segmentation,region growth and Ostu threshold segmentation can complete imagesegmentation. C:Watershed algorithm is often used to segment the objectsconnected in the image. D:Otsu threshold segmentation, also known as themaximum between-class difference method, realizes the automatic selection of global threshold T by counting the histogram characteristics of the entire image答案:Region growth method is to complete the segmentation bycalculating the mean vector of the offset.2.Camera calibration is a key step when using machine vision to measureobjects. Its calibration accuracy will directly affect the measurementaccuracy. Among them, camera calibration generally involves the mutualconversion of object point coordinates in several coordinate systems. So,what coordinate systems do you mean by "several coordinate systems" here?（）A:Image coordinate system B:Image plane coordinate system C:Cameracoordinate system D:World coordinate system答案:Image coordinate system;Image plane coordinate system;Camera coordinate system;World coordinate systemmonly used digital image filtering methods:（）.A:bilateral filtering B:median filter C:mean filtering D:Gaussian filter答案:bilateral filtering;median filter;mean filtering;Gaussian filter4.Application areas of digital image processing include:（）A:Industrial inspection B:Biomedical Science C:Scenario simulation D:remote sensing答案:Industrial inspection;Biomedical Science5.Image segmentation is the technology and process of dividing an image intoseveral specific regions with unique properties and proposing objects ofinterest. In the following statement about image segmentation algorithm, the error is ( ).A:Otsu threshold segmentation, also known as the maximum between-class difference method, realizes the automatic selection of global threshold T by counting the histogram characteristics of the entire imageB: Watershed algorithm is often used to segment the objects connected in the image. C:Region growth method is to complete the segmentation bycalculating the mean vector of the offset. D:Watershed algorithm, MeanShift segmentation, region growth and Ostu threshold segmentation can complete image segmentation.答案:Region growth method is to complete the segmentation bycalculating the mean vector of the offset.第七章测试1.Blind search can be applied to many different search problems, but it has notbeen widely used due to its low efficiency.（）A:错 B:对答案:对2.Which of the following search methods uses a FIFO queue （）.A:width-first search B:random search C:depth-first search D:generation-test method答案:width-first search3.What causes the complexity of the semantic network （）.A:There is no recognized formal representation system B:The quantifiernetwork is inadequate C:The means of knowledge representation are diverse D:The relationship between nodes can be linear, nonlinear, or even recursive 答案:The means of knowledge representation are diverse;Therelationship between nodes can be linear, nonlinear, or even recursive4.In the knowledge graph taking Leonardo da Vinci as an example, the entity ofthe character represents a node, and the relationship between the artist and the character represents an edge. Search is the process of finding the actionsequence of an intelligent system.（）A:对 B:错答案:对5.Which of the following statements about common methods of path search iswrong（）A:When using the artificial potential field method, when there are someobstacles in any distance around the target point, it is easy to cause the path to be unreachable B:The A* algorithm occupies too much memory during the search, the search efficiency is reduced, and the optimal result cannot beguaranteed C:The artificial potential field method can quickly search for acollision-free path with strong flexibility D:A* algorithm can solve theshortest path of state space search答案:When using the artificial potential field method, when there aresome obstacles in any distance around the target point, it is easy tocause the path to be unreachable第八章测试1.The language, spoken language, written language, sign language and Pythonlanguage of human communication are all natural languages.（）A:对 B:错答案:错2.The following statement about machine translation is wrong （）.A:The analysis stage of machine translation is mainly lexical analysis andpragmatic analysis B:The essence of machine translation is the discovery and application of bilingual translation laws. C:The four stages of machinetranslation are retrieval, analysis, conversion and generation. D:At present,natural language machine translation generally takes sentences as thetranslation unit.答案:The analysis stage of machine translation is mainly lexical analysis and pragmatic analysis3.Which of the following fields does machine translation belong to? （）A:Expert system B:Machine learning C:Human sensory simulation D:Natural language system答案:Natural language system4.The following statements about language are wrong: （）。
高三英语人工智能单选题40题1. Artificial intelligence is a branch of computer science that aims to create intelligent _____.A.machinesB.devicesC.equipmentsD.instruments答案解析：A。
“machines”通常指机器，在人工智能领域常指具有一定智能的机器；“devices”一般指设备、装置；“equipments”是“equipment”的复数形式，指装备、器材；“instruments”指仪器、工具。
2. In the field of artificial intelligence, algorithms are used to train _____.A.modelsB.patternsC.shapesD.forms答案解析：A。
“models”在人工智能中常指模型，可以通过算法进行训练；“patterns”指模式、图案；“shapes”指形状；“forms”指形式。
3. Deep learning is a powerful technique in artificial intelligence that uses neural _____.worksB.systemsC.structuresanizations答案解析：A。
“networks”指网络，在深度学习中常指神经网络；“systems”指系统；“structures”指结构；“organizations”指组织。
4. Artificial intelligence can process large amounts of data to make accurate _____.A.predictionsB.forecastsC.projectionsD.expectations答案解析：A。
CFA一级Notes习题笔记EthicsCode of Ethics1.act with integrity, competence, diligence, respect, and in an ethical manner with the public, clients, prospective clients, employers, employees, colleagues in the investment profession, and other participants in the global capital markets2.place the integrity of the investment profession and the interests of clients above their own personal interestse reasonable care and exercise independent professional judgement when conducting investment analysis, making investment recommendations, taking investment actions, and engaging in other professional activities4.practice and encourage others to practice in a professional and ethical manner that will reflect credit on themselves and the profession5.promote the integrity of, and uphold the rules governing, capital markets6.maintain and improve their professional competence and strive to maintain and improve the competence of other ivestment professionals.Standards of Professional ConductI professionalismA.knowledge of the lawB.independence and objectivityC.MisrepresentationD.MisconductII.integrity of capital marketsA.material nonpublic informationB.market manipulationIII.duties to clientsA.Loyalty,Prudence and CareB.Fair DealingC.SuitabilityD.Performance presentationE.preservation of confidentialityIV.duties to employersA.loyaltyB.additional compensation arrangementsC.responsibilities of supervisorsV.investment analysis, reommendations,and actionsA.Diligence and reasonable basismunication with clients and prospective clientsC.record retentionVI.conflicts of interestA.Disclosure of conflictsB.priority of transactionsC.referral feesVII.responsibilities as a CFA institute member or CFA candidateA.conduct as menbers and candidates in the cfa programB.reference to CFA institute, the cfa designation, and the cfa program1.私人投资跟Code无关，但滥用举报违反personal conduct。
CFA考试试题汇编(含答案)1、The nominal (quoted) annual interest rate on an automobile loan is 10%. The effective annual rate of the loan is 10.47%. The frequency of compounding periods per year for the loan is closest to:【单选题】A.weekly.B.monthly.C.quarterly.正确答案:B点拨：:“The Time Value of Money,”Richard A. DeFusco, CFA, Dennis W. McLeavey, CFA, Jerald E. Pinto, CFA, and David E. Runkle, CFA2013 Modular Level I, Vol. 1, Reading 5, Section 3.3Study Session 2–5–c, dCalculate and interpret the effective annual rate, given the stated annual interest rate and the frequency of compounding. Solve time value of money problems for different frequencies of compounding:B is correct. Use the formula for effective annual rate:Iteratively substitute the possible frequency of compounding until the EAR is 10.47%.Thus, the correct answer is monthly compounding.2、Which of the following is a constraint as defined inthe International Financial Reporting Standards (IFRS) Framework for the Preparation and Presentation of Financial Statements?【单选题】A.NeutralityB.TimelinessC.Going concern正确答案:B点拨：:“Financial Reporting Standards,”Thomas R. Robinson, CFA, Jan Hendrik van Greuning, CFA, Karen O’Connor Rubsam, CFA, R. Elaine Henry, CFA, and Michael A. Broihahn, CFATimeliness is a constraint in the IFRS Framework. Neutrality is a factor that contributes to reliability and going concern is an assumption of the Framework.3、Which method of calculating the firm’s cost of equity is most likely to incorporate the long-run return relationship between the firm's stock and the market portfolio?【单选题】A.Dividend discount modelB.Capital asset pricing modelC.Bond-yield-plus risk-premium正确答案:B点拨：:“Cost of Capital”Yves Courtois, CFA, Gene C. Lai, and Pamela Peterson Drake, CFAThe capital asset pricing model uses the firm’s equity beta, which is computed from a market model regression of the company's stock returns against market returns.4、For a 90-day U.S. Treasury bill selling at a discount, which of the following methods most likely results in the highest yield?【单选题】A.Money market yieldB.Discount-basis yieldC.Bond equivalent yield正确答案:C点拨：:“Working Capital Management,”Edgar Norton, Jr., Kenneth L. Parkinson, and Pamela Peterson Drake5、An investor gathers the following data.To estimate the stock's justified forward P/E, the investor prefers touse the compounded annual earnings growth and the average of the payout ratios over the relevant period (i.e., 2008–2011). If the investor uses 11.5% as her required rate of return, the stock's justified forward P/E is closest to:【单选题】A.10.B.12.C.21.正确答案:C点拨：:“Equity Valuation: Concepts and Basic Tools,”John J. Nagorniak and Stephen E.Wilcox6、A bond portfolio manager is considering three Bonds –A, B, and C –for his portfolio. Bond A allows the issuer to call the bond before stated maturity, Bond B allows the investor to put the bond back to the issuer before stated maturity, and Bond C contains no embedded options. The bonds are otherwise identical. The manager tells his assistant, “Bond A and Bond B should have larger nominal yield spreads to a U.S. Treasury than Bond C to compensate for their embedded options.”Is the manager most likely correct?【单选题】A.Yes.B.No, Bond A’s nominal yield spread should be less than Bond C’s.C.No, Bond B’s nominal yield spread should be less than Bond C’s.正确答案:C点拨：:“Understanding Yield Spreads,”Frank J. Fabozzi, CFAC is correct because Bond B’s embedded put option benefits the investor and the yield spread will therefore be less than the yield spread of Bond C, which does not contain this benefit.7、Which of the following characteristics is best described that the information in financialstatements can influence user's economic decisions or affect user's evaluationof past events or forecasts of future events in accordance with the IFRSframework's definitions and recognition criteria?【单选题】A.Relevance./doc/3228fe0b18e8b8f67c 1cfad6195f312b3069ebdf.htmlparability.C.Faithful representation.正确答案:A点拨：:根据IFRS的条款，财务报表的两个基本特性使得这些财务信息有用，这两个特性包括相关性（relevance）和公允陈述（faithful representation）。
国开(中央电大)本科《人文英语3》形考任务(单元自测1至8)试题及答案模板适用专业：法学、汉语言文学、护理、社会工作、小学教育、学前教育和园艺。
单元自测1 试题及答案题目为随机，用查找功能（Ctrl+F）搜索题目[题目]—Do you have much experience with caring for babies？—________. [答案]Yes, I do. I often take care of kids in my free time. [题目]Lily is a good student except________ she is a little bit careless. [答案]that [题目]—How do you feel about your family life？—________. [答案]Not bad.I think it is a good choice to be a full-time mother. [题目]—It＇s raining so heavily outside. I＇m terribly anxious about my son＇s safety. —________. [答案]Don＇t worry about him. He will come back safe and sound. [题目]—Ken did badly in his math test. I＇m terribly worried about the result. —________. [答案]Come on. It isn＇t the end of the world. [题目]—Our son has picked up some bad habits recently, and I am really worried about it. —________. [答案]Cheer up. I believe he will overcome it. [题目]He asked me ___________ Zhang Hua came to school or not. [答案]whether [题目]I want toknow________ . [答案]what his name is [题目]It is said that______ 2000 factories were closed down during the economiccrisis. [答案]approximately [题目]The birth rate of the country decreases ______ with years. [答案]progressively [题目]This movie is ________ that one. [答案]as interesting as [题目]Tom won the first prize of oral English contest, which is beyond his ______. [答案]expectation [题目]We consider it necessary______ Tom should improve his behavior. [答案]that [题目]We often compare children ______ flowers. [答案]to [题目]Young people ______ 62% of University teaching staff. [答案]comprise 二、阅读理解：选择题Most couples who get married or decide to live together generally plan to have children. Several years ago, people thought that having big families was common and this was seen as an advantage. That was mainly because children began working at an early age to help provide for the family. But with the changing times and with the cost of living getting higher every single year, having a big family is no longer considered to be a practical option. In fact, more couples consider that they have only one child and some do not have any desire to become parents at all. According to the Australian Institute of Family Studies, by 1986, women aged 40 to 44 years, were considerably more likely to have given birth to two children than three children (36% vs. 27%) or four or more children (19%). However, takentogether, women were still more likely to have had three or more children than to have had two children (46% vs. 36%). In recent years, women were more likely to have had two children than three or more children – a trend that was most marked in the most recent period (38% vs. 25% in 1996; 38% vs. 22% in 2006). These days, most families in Australia have two children. But the number of women who had GIVEN BIRTH TO a single child INCREASED PROGRESSIVELY from only 8% in 1981 to 13% in 2006. The U.S. Census Bureau states that there are approximately 14 million only children in America today. This COMPRISES 20% OF the children＇s population COMPARED TO only 10% around fifty years ago. 操作提示：通过题干后的下拉框选择题目的正确答案。
Modeling of Kinetics of Mass-Exchange Processes for Fruit and Berry Production PreservationBazarnova Yu.G., Kuznetsova T.A., Aronova E.B.Higher School of Biotechnology and Food TechnologyPeter the Great St. Petersburg Polytechnic University,St.Petersburg, RussiaAbstract—At preservation of fruits and berries mass-exchange processes take place in liquid mediums, which define quality of the canned production. The composition of covering syrup should guarantee preservation of turgor, taste and color of fruits and berries and prevent fermentation processes. We carried out construction and adequacy examination of kinetic model for moisture osmotic transfer for fruit-berry material to covering syrups at thermal and refrigerating preservation. We obtained empirical coefficients. It was established that moisture migration rate depends on berry type and syrup concentration. Moisture loss for more than 30% results in berries turgor loss, which makes its further storage impractical. Using the obtained equation and empirical constants, we have established that the duration of the refrigeration storage of cowberry canned in 30% sugar syrups for the stated conditions was about 130 days.Keywords—kinetics modeling, mass-exchange processes, osmotic moisture transport, berries, syrup, preservationI.I NTRODUCTIONThe most common cause of deterioration in the texture of food products during refrigeration processing and storage is a change in its moisture content, including loss of moisture, an increase in humidity, or migration of moisture. Moisture migration can occur in multicomponent products if individual components are characterized by different indicators of water activity [1, 2]. The organoleptic perception of the product is governed by a combination of many changing factors. However, the correlation of organoleptic, physico-chemical and biochemical parameters is often absent. Testing the product during storage allows one to determine the indicators which are most important for assessing its quality and safety [3, 4].The processes of diffusive transfer of soluble components and osmotic transfer of moisture limit the period of cold storage of canned fruits and berries in liquid media. The study of the kinetics of mass transfer processes leading to the redistribution of soluble substances in the “berries-syrup” system is relevant in the development of technologies based on fruit and berry raw materials preserved in liquid media.For implementation of defrosting end storage of wild fruits and berries in liquid mediums in unregulated conditions the composition of covering syrups should guarantee quality (turgor, taste, color) of the fruits and berries and prevent fermentation processes [5,7]. The intensity of the diffusion-osmotic processes depends on a number of factors, including temperature, viscosity and density of the medium, the presence of various electrolytes. Therefore, when defrosting fruits and berries in liquid media, it is necessary to take into account the rheological properties of these media, the viscosity and density of which have a significant effect on the rate of diffusion of soluble substances.With respect to berries cell juice the sugar-covering syrups are hypertonic solutions. In order to prevent plasmolysis, one should choose its concentrations in such a way as to ensure alignment of the osmotic pressures. From the other side, osmotic pressure should be enough for microorganism cell dewatering, its plasmolysis and total inactivation [8,9].To assess the intensity of changes occurring in products during storage, and to obtain information about the influence of various factors on the storage time, the principles of modeling are used [10–12].The development of kinetic models suitable for practical use has some difficulties. Most often, they are developed on the basis of empirical data obtained from model experiments. In this case, the necessary condition is to check the adequacy of the obtained models to prove that they are reliable not only in laboratory conditions, but also when describing real food systems [13].The aims of the present work are to construct kinetic model of moisture osmotic transport process from the fruit-berry material to the covering syrups; carry out adequacy examination of the obtained model; obtain kinetic constants for various types of fruits and berries.II.M ATERIALS AND METHODSIn order to examine the adequacy of the developed mathematical model we used fresh and frozen cranberries and cowberries and syrups with sucrose content of 30, 40 and 50%. Analysis of sucrose content in berries and syrups was carried out by refractometry technique, which is widely used in many research areas [14-16].III.R ESULTS AND DISCUSSIONA.Construction of physical-mathematical modelFor construction of appropriate physical-mathematical model we will consider the following terms:International Conference on Smart Solutions for Agriculture (Agro-SMART 2018)V is juice volume in a berry, m 3;ν is total content of solvable sugars in a berry, mole; τ is time of berry storage in syrup;C s is sucrose concentration in a syrup, mole/m 3.C 0 is total sugar concentration in a berry, mole/m 3, which might be presented as:C ν=0, (1)at this C 0 < C s .Due to appearance of osmotic pressure the water moleculesfrom berry will migrate to the syrup through the berry surface layer. This layer is a membrane, which is permeable for water molecules and non- permeable for larger particles, in particularly, sucrose molecules. This process will continue until the sugar concentrations in a berry juice С(τ) and syrup C s become equal.The osmotic water transport through the surface layer of a berry is a slow (and, consequently, laminar) flow of viscous liquid through small channels. So we may use the Poiseuille [17] formula for liquid volume dV, passing during the time d τ, i.e. the following expression (2):τμξd dS N p dV o ⋅⋅⋅⋅=-2,(2)where:p 0 is osmotic pressure, Pa;N is amount of channels in a berry surface layer; S is sectional area of one channel, m 2;d is channel length which is equal to a berry surface layer width, m;μ is dynamic water viscosity, kg/(m .s);ξ is dimensionless coefficient, which depends on the channel shape (for a round channel ξ = 1/8π).Osmotic pressure is described by expression (3):()RT C C p s )(0τ-=, (3)where:R is universal gas constant, J/(mole .K); T is absolute temperature, K.By substituting (3) in (2) taking into account the following expressions:2;CdCdV CV ⋅=-=νν. (4)Let us obtain the following expression:dT R S N C k d C C k C dCC s s s ⋅⋅⋅⋅⋅⋅⋅=-=μνξτ2222;)(. (5)The expression (5) is easy to integrate. Its solution, whichmeets the initial condition C(0)= C 0 is the following (6):τk C C C C C C C C C C lпs s s s =+-⎭⎬⎫⎩⎨⎧--000)()(. (6)Further we introduce dimensionless constants:sC C a 0=; 0V V w =,(7)where: V 0, V are initial and current moisture volume in a berry, m3;And the expression (6) can be represented in the following way (8):τk a w a w a =-+⎭⎬⎫⎩⎨⎧--11ln . (8)Fig.1 presents relations between dimensionless concentration C/C s and dimensionless time k τ.Fig. 1. Relation between dimensionless concentration of sugar in a berry C/C s and dimensionless time k τ for various numerical values of dimensionless initial concentration a = C 0/C s.Empirical values of kinetic coefficient k, obtained using the expression (8) are presented in Table 1.TABLE I. C ONSTANTS OF MOISTURE OSMOTIC TRANSPORT RATE , K , DAYS –1 AT REFRIGERATORY STORAGE IN SYRUPS FOR CANNED CRANBERRIESAND COWBERRIES ; (4±2) ︒CFig.2 presents research data on residual moisture content incanned (a) and unfrozen in syrups (b) cowberries depending on its storage duration at temperature of (4±2)˚ С.It was established that turgor conservation for berries canned in syrups is reached at usage of sucrose concentration not more than 30%. It allows one to reduce osmotic losses of the cell juice for canned and unfrozen in syrups berries.Fig. 2. Relation between residual moisture content for canned (a) and unfrozen in syrups (b) cowberries and storage duration. (4±2) ︒C. Empirical data is shown by dots, lines stand for calculation data.At berries preservation in isotonic syrups the osmotic concentration of berries cell juice is reaching the concentration of solvable dry syrup substances. So according to the expression (7)10→=sC a , the formula (8) can be rewritten as:τk w -=1. (9)IV. C ONCLUSIONSThe obtained expressions (6) and (8) might be used for development of composition of sugar-covering syrups and regulation of storage modes of preserved in covering syrups berries. They allow one to determine the residual moisture content in berries at any storage period [18].It was established that moisture migration rate depends on berry type and syrup concentration. Moisture loss for more than 30% results in berries turgor loss, which makes its further storage impractical.Using the expression (8) and empirical constants (Table 1), we have established that the duration of the refrigerator storage of cowberry canned in 30 % sugar syrups for the stated conditions was about 130 days. During this period cowberries preserve its taste and turgor.References[1] G. Balasubrahmanyam, A. K. Datta, “Prevention of moisture migration infondant coated biscuit”, J. of food engineering, vol. 21 (2), pp. 235-244, 1994.[2] T. P. Labusa, D. Riboh, “Theory and applications of Arrhenius kinetics tothe prediction of nutrient losses in food”, Food technology, vol. 36, pp. 56-61, 1982.[3] Yu.G. Bazarnova, “Study of content of some food supplements withantioxidant activity in wild herbs and berries”, Voprosy Pitaniia, vol. 76, №1, pp. 22-26, 2007.[4] Yu. G. Bazarnova, Food shelf life: calculation and testing (translated.from English, ed. R. Stele), St. Peterburg: Professiya, 2006, 460 p.[5] Yu. G. Bazarnova, T V. Shkotova, “The method for canning of wildberries” Pat. № 2286674 RF, MPK A23V 7/08, № 2004136398; of 10.11.06, 2006.[6] G. Skrede, R. E. Wrolstad, P. Lea and G. Enersen, “Color Stability ofStrawberry and Blackcurrant Syrups”, J. Food Sci., vol. 57, pp. 172–7, 1992.[7] M. J. Beker, J. E. Blumbergs, E. J. Ventina and A. I. Rapoport,“Characteristics of cellular membranes at rehydration of dehydrated yeast Saccharomyces cerevisiae”, Appl. Microbiol. Biotechnol., vol. 19, pp. 347–52, 1984.[8] M. J. Beker, A. J. Rapoport, P. B. Zikmanis and B.E. Damberga,“Dehydration as a yeast metabolism regulating factor”, Environmental Regulation of Microbial Metabolism: Proceedings of the Federation of European Microbiological Societies Symposium Held in Pushchino, USSR, pp 105–11, 1985.[9] N. M. Panagiotou, V. T. Karathanos and Z. B. Maroulis, “Effect ofosmotic agent on osmotic dehydration of fruits”, Dry. Technol., vol. 17, pp. 175–89, 1999.[10] J. Kristott, “Fats and oils” in The stability and shelf-life of food. D.Kilcast, P. Subramaniam, Eds. Boca Raton, FL: CRC Press, Woodhead Publishing, 2000, P. 279–309.[11] T. P. Labusa, M. K. Schmidt, “Accelerated shelf-life testing of food”,Food Technology, vol. 39, pp. 57–62, 1985.[12] Shelf-life of food — guide-lines for its determination and prediction.Institute of food science and technology (UK). London: IFST, 1993, 230 p.[13] Yu. G. Bazarnova, T. E. Burova, A. L. Ishevsky, V. M. Zyukanov,“Possibilities of applying the principles of chemical kinetics to assess the quality of food products”, Storage and processing of agricultural raw materials, vol.11, pp. 33–36, 2004.[14] E.S, Lur’e, A.I. Sharov Technological control of raw material at candyproduction. Moscow: Kolos, 2001.[15] A. V. Belashov, A. A. Zhikhoreva, V. G. Bespalov, V. I. Novik, N. T.Zhilinskaya, I. V. Semenova, O. S. Vasyutinskii, “Refractive indexdistributions in dehydrated cells of human oral cavity epithelium”, J. Opt.Soc. Am. B Opt. Phys., vol. 34, pp. 2538–43, 2017.[16]K. N. Semenov, G. O. Iurev, N. M. Ivanova, V. N. Postnov, V. V.Sharoyko, I. V. Prikhodko, I. V. Murin, “Physico-chemical properties of the C60-L-lysine water solutions” J. Mol. Liq., vol. 225, pp. 767–77, 2017. [17] S. P. Sutera and R. Skalak, “The History of Poiseuille’s Law”, Annu.Rev. Fluid Mech., vol. 25, pp. 1–20, 1993.[18] Yu. G. Bazarnova, V. E. Kucakova and S. V. Frolov, “Modeling ofosmotic processes at berries storage in a syrup”, Pishchevye tekhnologii-2006: Proceedings of the Second International Scientific Conference, p.14, 2006, October [17-19 October 2006, Odessa].。
CFA一级内容：CFA历年考试模拟题（一）一、Ethical and Professional Standards1.: Code of EthicsA.: State the four components of the Code of Ethics.Members of AIMR shall:1. Act with integrity, competence, dignity, and in an ethical manner when dealing with the public, clients, prospects, employers, employees, and fellow members.2. Practice and encourage others to practice in a professional and ethical manner that will reflect credit on members and their profession.3. Strive to maintain and improve their competence and the competence of others in the profession.4. Use reasonable care and exercise independent professional judgment.to launch Standards of Practice2-I.: Standards of Professional Conduct: I. Fundamental ResponsibilitiesA.: Know the laws and rules.Standard: Maintain knowledge of and comply with all applicable laws, rules, and regulations (including AIMR’s Code of Ethics and Standards of Professional Conduct) of any government, government agency, regulatory organization, lic ensing agency, or professional association governing the members’ professional activities.Compliance: Members can acquire and maintain knowledge about applicable laws, rules, and regulations by:· Maintaining current files on applicable statutes, rules, and regulations.· Keeping informed.· Reviewing written compliance procedures on a regular basis.B.: Don't break or help others break the law.Standard: Not knowingly participate or assist in any violation of such laws, rules, or regulations.Compliance: When members suspect a client or a colleague of planning or engaging in ongoing illegal activities, members should take the following actions:· Consult counsel to determine if the conduct is, in fact, illegal.· Disassociate from any illegal or unethical activity. When members have reasonable grounds to believe that a client’s or employee’s activities are illegal or unethical, the members should dissociate from these activities and urge their firm to attempt to persuade the perpetrator to cease such activity.2-II.: Standards of Professional Conduct: II. Relationships with and Responsibilities to the ProfessionA.: Use of Professional DesignationII(A.1)AIMR members may reference their membership only in a dignified and judicious manner. The use of the reference may be accompanied by an accurate explanation of the requirements that have been met to obtain membership in these organizations.II(A.2)Those who have earned the right to use the Chartered Financial Analyst designation may use the marks “Chartered Financial Analyst” or “CFA” and are encouraged to do so, but only in a proper, dignified, and judicious manner. The use of the designation may be accompanied by an accurate explanation of the requirements that have been met to obtain the right to use the designation.II(A.3)Candidates in the CFA Program, as defined in the AIMR Bylaws, may reference their participation in the CFA Program, but the reference must clearly state that an individual is a candidate in the CFA Program and cannot imply that the candidate has achieved any type of partial designation.B.: Professional MisconductII(B.1)Members shall not engage in any professional conduct involving dishonesty, fraud, deceit, or misrepresentation or commit any act that reflects adversely on their honesty, trustworthiness, or professional competence.II(B.2)Members and candidates shall not engage in any conduct or commit any act that compromises the integrity of the CFA designation or the integrity or validity of the examinations leading to the award of the right to use the CFA designation.Compliance:1. Make clear that dishonest personal behavior reflects poorly on the profession.2. Adopt a code of ethics to which every employee must subscribe.3. Conduct background checks on potential employees to ensure that they are of good character and eligible to work in the investment industry.C.: Prohibition against PlagiarismStandard: Members shall not copy or use, in substantially the same form as the original, material prepared by another without acknowledging and identifying the name of the author, publisher, or source of such material. Members may use, without acknowledgment, factual information published by recognized financial and statistical reporting services or similar sources.Compliance:1. Maintain copies of materials that were relied on in preparing the research report.2. Attribute quotations (and projections, tables, statistics, models, and methodologies) used other than recognized financial and statistical reporting services.3. Attribute paraphrases and summaries of material prepared by others.2-III.: Standards of Professional Conduct: III. Relationships and Responsibilities to the EmployerIII(A.1)Members shall inform their employer in writing, through their direct supervisor, that they are obligated to comply with the Code and Standards and are subject to disciplinary sanctions for violations thereof.III(A.2)Members shall deliver a copy of the Code and Standards to their employer if the employer does not have a copy.Compliance: Members should notify their supervisor in writing of the Code and Standards and the member’s respo nsibility to follow them. The member should also suggest that the employers adopt the Code and Standards and disseminate it throughout the firm. If the employer has publicly acknowledged, in writing, that they have adopted AIMR’s Code and Standards as part of the firm’s policies then the member need not give the formal written notification as required by III(A).B.: Duty to EmployerStandard: Members shall not undertake any independent practice that could result in compensation or other benefit in competition with their employer unless they obtain written consent from both their employer and the persons or entities for whom they undertake independent practice.Compliance:1. Members who plan to engage in independent practice for compensation should provide written statements to their employer describing the types of services they will perform, the expected duration of the services, and the compensation they will receive.2. Members should also disclose to their prospective clients the identity of their employer, the fact that they are performing independently of the employer, and what their employer would charge for similar services.3. Members seeking new employment should not contact existing clients or potential clients prior to leaving their employer or take records/files to their new employer without the written permission of the previous employer.C.: Disclose Conflicts between you and your EmployerIII(C.1):Members shall disclose to their employer all matters, including beneficial ownership of securities or other investments, that reasonably could be expected to interfere with their duty to their employer or ability to make unbiased and objective recommendations.III(C.2):Members shall comply with any prohibitions on activities imposed by their employer if a conflict of interest exists.Compliance: Members should report to their employers any beneficial interest and any special relationships, like corporate directorships, that may reasonably be considered a conflict of interest with their responsibilities. Members should also discuss the situation with their firm’s compliance officer before taking any action that could lead to a conflict of interest.D.: Disclose Additional Compensation from Outside the Firm to your EmployerStandard: Members shall disclose to their employer in writing all monetary compensation or other benefits that they receive for their services that are in addition to compensation or benefits conferred by a member’s employer.Compliance: Members should make an immediate written report to their employer specifying any compensation or benefits they receive or propose to receive for services in addition to what their employer is to give them. This written report should state the terms of any oral or written agreement, the amount of compensation, and the duration of the agreement.E.: Responsibilities of SupervisorsStandard: Members with supervisory responsibilities, authority, or the ability to influence the conduct of others shall exercise reasonable supervision over those subject to their supervision or authority to prevent any violation of applicable statutes, regulation, or provisions of the Code and Standards. In so doing, members are entitled to rely on reasonable procedures designed to detect and prevent such violations.Compliance: The supervisor and the compliance officer should:1. Disseminate the compliance procedures.2. Update the procedures as necessary.3. Educate the staff and issue periodic reminders.4. Incor porate a professional conduct evaluation into the employee’s performance review.5. Review employee actions to ensure compliance and identify violators, initiating procedures once a violation has occurred. A supervisor should respond promptly to the violation by conducting a thorough investigation, and placing limitations on the wrongdoer until the investigation is complete.2-IV.: Standards of Professional Conduct: IV. Relationships with and Responsibilities to Clients and ProspectsA.: The Investment ProcessIV(A.1) Reasonable Basis and Representations. Members shall:a. Exercise diligence and thoroughness in making investment recommendations or in taking investment actions.b. Have a reasonable and adequate basis, supported by appropriate research and investigation, for such recommendations or actions.c. Make reasonable and diligent efforts to avoid any material misrepresentation in any research report or investment recommendation.d. Maintain appropriate records to support the reasonableness of such recommendations or actions.Compliance:1. Analyze the investment’s basic characteristics (records must show the characteristics of the investment and the basis for the recommendation).2. Analyze the needs of the portfolio (in cludes the client’s needs, as well as the needs of the total portfolio).3. Maintain files to support investment recommendations.IV(A.2) Research Reports. Members shall:a. Use reasonable judgment regarding the inclusion or exclusion of relevant factors in research reports.b. Distinguish between facts and opinions in research reports.c. Indicate the basic characteristics of the investment involved when preparing for public distribution a research report that is not directly related to a specific portfolio or client.Compliance: Members should consider including the following information in research reports:1. Expected annual rates of return, calculated on a total return basis.2. Annual income expectations.3. Current rate of return or yield.4. The degree of uncertainty associated with the cash flows, and other risk factors.5. The investment’s marketability or liquidity.IV(A.3) Independence and Objectivity. Members shall use reasonable care and judgment to achieve and maintain independence and objectivity in making investment recommendations or taking investment actions.Compliance:1. Protect integrity of opinions. Reports should reflect the analyst’s unbiased opinion.2. Disclose all corporate relationships (i.e., directorships, underwriting arrangements or acting as a market maker).3. Disclose personal holdings and beneficial ownerships.4. Create a restricted list.5. Restrict special cost arrangements. Members should pay for their commercial transportation and hotel charges.6. Limit gifts (US$100 is the maximum acceptable value for a gift or gratuity).7. Restrict investments (strict limits should be imposed on private placements).8. Review procedures (supervise the personal investment activities of the employees).B.: Interactions with Clients and ProspectsIV(B.1) Fiduciary Duties: In relationships with clients, members shall use particular care in determining applicable fiduciary duty and shall comply with such duty as to those persons and interests to whom the duty is owed. Members must act for the benefit of their clients and place their clients' interests before their own.Compliance:1. Follow all applicable rules and laws.2. Establish the investment objectives of the client.3. Diversify.4. Deal fairly with all clients with respect to investment actions.5. Disclose all possible conflicts of interest.6. Disclose compensation arrangements.7. Preserve the confidentiality of client information.8. Maintain loyalty to the plan beneficiaries.IV(B.2) Portfolio Investment Recommendations and Actions: Members shall:a. Make a reasonable inquiry into a client's financial situation, investment experience, and investment objectives prior to making any investment recommendations and shall update this information as necessary, but no less frequently than annually, to allow the members to adjust their investment recommendations to reflect changed circumstances.b. Consider the appropriateness and suitability of investment recommendations or actions for each portfolio or client (including the needs and circumstances of the portfolio or client, the basic characteristics of the investment involved, and the basic characteristics of the total portfolio).c. Distinguish between facts and opinions in presenting recommendations.d. Disclose to clients and prospects the basic format and general principles of the investment processes by which securities are selected and portfolios are constructed and shall promptly disclose to clients and prospects any changes that might significantly affect those processes.IV(B.3) Fair Dealing: Members shall deal fairly and objectively with all clients and prospects when disseminating investment recommendations, disseminating material changes in prior investment recommendations, and taking investment action.Compliance:1. Limit the number of people privy to recommendations and changes.2. Shorten the time frame between initiation and dissemination.3. Publish personnel guidelines for pre-dissemination.4. Simultaneous dissemination.5. Establish rules about employee trading activities.6. Establish procedures for determining material changes.7. Maintain a list of clients and their holdings.8. Develop trade allocation procedures.9. Make sure one account is not being used to bail out other accounts.10.If the firm offers differing levels of service, this fact should be disclosed to all clients.IV(B.4) Priority of Transactions: Clients and employers shall have priority over transactions in securities or other investments of which a member is the beneficial owner so that such personal transactions do not operate adversely to their clients' or employer's interests. If members make a recommendation regarding the purchase or sale of a security or other investment, they shall give their clients and employer adequate opportunity to act on the recommendation before acting on their own behalf.Compliance:1. Define personal transactions.2. Define covered investments.3. Limit the number of access persons. “Fire Walls” should be built to prevent the flow of information from one group or department to other groups within the firm.4. Define prohibited transactions. The text specifically mentions equity based IPOs.5. Establish reporting procedures and prior-clearance requirements.6. Ensure that procedures will be enforced and establish disciplinary procedures.IV(B.5) Preservation of Confidentiality: Members shall preserve the confidentiality of information communicated by clients, prospects, or employers concerning matters within the scope of the client-member, prospect-member, or employer-member relationship unless the member receives information concerning illegal activities on the part of the client, prospect, or employer.Compliance: The simplest and most effective way to comply is to avoid discussing any information received from a client except to colleagues working on the same project.IV(B.6) Prohibition against Misrepresentation: Members shall not make any statements, orally or in writing that misrepresent:a. the services that they or their firms are capable of performing.b. their qualifications or the qualifications of their firm.c. the member's academic or professional credentials.Members shall not make or imply, orally or in writing, any assurances or guarantees regarding any investment except to communicate accurate information regarding the terms of the investment instrument and the issuer's obligations under the instrument.Compliance: Firms can provide guidance to employees who make written or oral presentations to clients or prospects by providing a writt en list of the firm’s available services and a description of the firm’s qualifications.IV(B.7) Disclosure of Conflicts to Clients and Prospects: Members shall disclose to their clients and prospects all matters, including beneficial ownership of securities or other investments, that reasonably could be expected to impair the member's ability to make unbiased and objective recommendations.Compliance: Members should report to their employers, clients, and prospects any material beneficial interest they may have in securities, corporate directorships, or other special relationships they may have with thecompanies they are recommending. Members should make the disclosures before they make any recommendations or take any investment actions regarding these investments.IV(B.8) Disclosure of Referral Fees: Members shall disclose to clients and prospects any consideration or benefit received by the member or delivered to others for the recommendation of any services to the client or prospect.Compliance:1. Disclose all agreements in writing to any client or prospect who has been referred.2. Describe in the disclosure the nature of the consideration and the estimated dollar value of the consideration.3. Consult a supervisor and legal counsel concerning any prospective arrangement regarding referral fees.2-V.: Standards of Professional Conduct: V. Relationships with and Responsibilities to the Investing PublicA.: Prohibition against Use of Material Nonpublic InformationStandard: Members who possess material nonpublic information related to the value of a security shall not trade or cause others to trade in that security if such trading would breach a duty or if the information was misappropriated or relates to a tender offer. If members receive material nonpublic information in confidence, they shall not breach that confidence by trading or causing others to trade in securities to which such information relates. Members shall make reasonable efforts to achieve public dissemination of material nonpublic information disclosed in breach of a duty.Compliance: Fire walls, minimum elements are:1. Control over interdepartmental communications.2. Review employee trading against restricted lists.3. Restrict proprietary trading while the firm is in possession of material nonpublic information.Additional procedures:1. Restrict personal and proprietary employee trading.2. Place securities on a restricted list when the firm has material nonpublic information.3. Disseminate material nonpublic information only to those with a need to know.4. Designate a supervisor who decides when trading is appropriate.B.: Performance presentationStandard:1. Members shall not make any statements, orally or in writing, that misrepresent the investment performance that they or their firms have accomplished or can reasonably be expected to achieve.2. If members communicate individual or firm performance information directly or indirectly to clients or prospective clients, or in a manner intended to be received by clients or prospective clients, members shall make every reasonable effort to assure that such performance information is a fair, accurate, and complete presentation of such performance.Compliance: Misrepresentation about the investment performance of the firm can be avoided if the member maintains data about the firm’s investment performance in written form. Investment accounts should be combined into composites by investment class and risk groups.3: Standards of Practice Handbooka: Demonstrate a thorough knowledge of the Standards of Professional Conduct by recognizing and applying the Standards to specific situations.This is an application of many different ethics concepts to different scenarios. After having learned the ethics material in earlier learning outcomes you will be able to apply these concepts to various scenarios as you take the quizzes.b: Distinguish between conduct that conforms to the Code and the Standards and conduct that violates the Code and the Standards.This requires looking at different scenarios and possibly applying several ethics concepts to each scenario. After you learn and understand the ethics concepts you will be able to apply them to specific situations through the quizzes.4: AIMR Performance Presentation Standards Handbooka: Explain the goals of the AIMR-PPS Standards.The Standards have been designed to meet the following goals:· To achieve greater uniformity and comparability among performance presentations.· To improve the service offered to investment management clients.· To enhance the professionalism of the industry.· To bolster the notion of self-regulation.Note: The Presentation Standards are intended primarily to be performance presentation standards,not performance measurement standards. Portions of the AIMR-PPS are required while some are recommended. AIMR strongly encourages the adoption of both required and recommended components of the Standards. Also, performance presentations may have to provide more than the minimum requirements of the AIMR-PPS to meet the full intent of the Standards.b: Identify the parties affected by the AIMR-PPS standards.· Firms. The PPS Standards are voluntary. The PPS are widely recognized as fair and accurate reporting guidelines for investment performance.· AIMR Members, CFA Charterholders, and CFA Candidates. The PPS are not explicitly incorporated into the AIMR Code and Standards of Professional Conduct. The PPS does, however, help insure that members, charterholders and candidates are in compliance with Standard V(B), Performance Presentation, so that they will make no material misrepresentation of their performance results.· Prospective and Current Clients. The PPS helps clients compare investment performance across firms. The PPS helps clients evaluate their investment manager’s performance.c: Identify the four main topics of the AIMR-PPS standards (i.e., creation and maintenance of composites, calculation of returns, presentation of results, and disclosures).· Creation and maintenance of composites. A composite is a set of portfolios that follow the same investment style.· Calculation of returns.· Presentation of results.· Disclosures.d: Identify what constitutes a valid claim of compliance with the AIMR-PPS standards.To claim compliance, firms must meet all composite, calculation, presentation, and disclosure requirements. Adherence to the basic requirements, however, does not guarantee fair and adequate performance reporting. Compliance with the standards also requires adherence to all applicable laws and regulations.If the firm has made every reasonable effort to ensure that their performance presentation is in compliance with the PPS, the firm can use the following legend:?XYZ Firm has prepared and presented this report in compliance with the Performance Presentation Standards of the Association for Investment Management and Research. AIMR has not been involved with the preparation or review of this report.· Any use of the mark “AIMR” except as shown above is prohibited.· If results are not in full compliance, performance cannot be presented as: Being in compliance with the AIMR-PPS except for …· Statements referring to the calculation methodology used in a presentation as being in accordance or compliance with AIMR-PPS standards are prohibited.· AIMR members who misuse the term AIMR, AIMR-PPS standards, or the Compliance Statement are subject to disciplinary sanctions under Standard V(B).各位考生，2015年CFA备考已经开始，为了方便各位考生能更加系统地掌握考试大纲的重点知识，帮助大家充分备考，体验实战，高顿网校开通了全免费的CFA题库（包括精题真题和全真模考系统），题库里附有详细的答案解析，学员可以通过多种题型加强练习，通过针对性地训练与模考，对学习过程进行全面总结。
2024年高二英语学科全球合作研究的合作机制构建分析单选题30题1.International cooperation is crucial for addressing global challenges. The ______ of different countries is essential.A.effortsanizationsC.cooperationsD.initiatives答案：B。
“国际合作对于应对全球挑战至关重要。
不同国家的组织是必不可少的。
”A 选项“efforts”努力；C 选项“cooperations”合作，此处与前文重复；D 选项“initiatives”倡议。
根据语境，这里强调不同国家的组织，所以选B。
2.Global cooperation requires strong ______ among nations.A.associationsB.partnershipsC.connectionsD.relationships答案：B。
“全球合作需要国家之间强大的伙伴关系。
”A 选项“associations”协会；C 选项“connections”联系；D 选项“relationships”关系，而伙伴关系更能体现全球合作的需求，所以选B。
3.The success of global cooperation depends on effective ______.A.coordinationsB.arrangementsanizationsD.plans答案：C。
“全球合作的成功取决于有效的组织。
”A 选项“coordinations”协调；B 选项“arrangements”安排；D 选项“plans”计划。
这里强调组织的重要性，所以选C。
4.In global cooperation, ______ play an important role in promoting common development.A.institutionspaniesC.factoriesD.schools答案：A。
高二英语数学建模方法单选题20题(含答案)1. In a math modeling project, we need to “analyze data”. Which of the following phrases has a similar meaning?A. look up dataB. sort out dataC. examine dataD. collect data答案：C。
“analyze data”是分析数据的意思。
A 选项“look up data”是查找数据；B 选项“sort out data”是整理数据；C 选项“examine data”是检查、分析数据；D 选项“collect data”是收集数据。
所以正确答案是C。
2. When we build a math model, we often use “assumptions”. What does “assumptions” mean in this context?A. factsB. guessesC. resultsD. methods答案：B。
在建立数学模型时，“assumptions”是假设的意思。
A 选项“facts”是事实；B 选项“guesses”是猜测，与假设意思相近；C 选项“results”是结果；D 选项“methods”是方法。
所以正确答案是B。
3. In math modeling, “validate the model” means to _____.A. make the modelB. test the modelC. change the modelD. explain the model答案：B。
“validate the model”在数学建模中是验证模型的意思。
A 选项“make the model”是制作模型；B 选项“test the model”是测试模型，与验证模型意思相近；C 选项“change the model”是改变模型；D 选项“explain the model”是解释模型。
金融英语业务知识练习试卷5(题后含答案及解析) 题型有： 2. 单项选择题单项选择题1．A variable whose value is determined by the model of which it is a part is termed______.A．constantB．endogenousC．exogenousD．independent正确答案：B解析：答案为B项。
endogenous variable“内生变量”。
在计量经济模型中，指由模型本身加以说明的变量。
它是模型方程式中的未知数，其数值可由方程式求解获得。
exogenous variable “外生变量”。
在计量经济模型中，指不能由模型本身加以说明的变量。
它是方程式中的已知数，其数值不是由模型本身的方程式算得，而是由模型以外的因素产生。
本题中的变量本身是由模型决定的，属于内生变量，故选B项。
知识模块：金融英语业务知识2．In a macroeconomic model without foreign trade or government spending, aggregate demand is the sum of______.A．personal saving and private investmentB．personal saving and personal consumptionC．personal consumption and personal incomeD．personal consumption and private investment正确答案：D解析：答案为D项。
一个经济的总需求(aggregate demand)由消费需求、投资需求、政府需求和来自于国外的需求构成。
因此，假设没有国际贸易和政府支出，则总需求的构成要素只有私人的消费需求和投资需求。
故本题选D项。
知识模块：金融英语业务知识3．Which kind of unemployment results from a change in the basic composition of the economy that also opens new positions for trained workers?______.A．Frictional unemploymentB．Structural unemploymentC．Cyclical unemploymentD．None of the above正确答案：B解析：答案为B项。
CFA考试一级章节练习题精选0331-1（附详解）1、Which of the following is NOT a recommended procedure for compliance withthe Standards of Professional Conduct relating to misrepresentation? The firm:【单选题】A.specifically designates which employees are authorized to speak on behalfof the firm.B.discontinues using the work completed by a former member or candidate.C.provides a written list of the firm's available services and a description ofthe firm's qualification.正确答案:B答案解析:公司特别指定哪个员工可以代表公司发言，提供书面形式的公司可服务类型以及对公司资质进行描述，都是为了遵守禁止虚假陈述（misrepresentation）所推荐的做法。
公司可以继续使用过去员工的研究成果。
1、Bill Gates, CFA, is a securities analyst covering transportation industry in alocal broker.According to the Code of Ethics and Standards of ProfessionalConduct, which of the following recommended procedures to prevent violationsof the Standards of Professional Conduct relating to priority of transactionsis NOT accurate?【单选题】A.Prohibit personal trading in the broker's recommended stock list.B.Fully disclose to investors the broker's policies regarding personal investing.C.Restrict investment personnel to participate on private placements.正确答案:A答案解析:为了避免违反优先交易权(priority of transactions)的行为标准，充分地向投资者披露公司关于个人投资的政策，限制会员参与股票的首次公开发行（initial public offering)和非公开发行（private placement），主管可为投资人员建立报告流程，包括个人持股及利益所有人(beneficial ownership)的披露、交易的确认以及提前申报的流程，这些都是CFA协会所推荐的做法。
SAIF-CFA试题CFA试题1.The least accurate statement about measures of dispersion fora distribution is that the:A. range provides no information about the shape of the data distribution.B. arithmetic average of the deviations around the mean will always be equal to one.C. mean absolute deviation will always be less than or equal to the standard deviation.2.One is most likely to reject the null hypothesis when the p-value of the test statistic:A. is negative.B. exceeds a specified level of significance.C. falls below a specified level of significance.3. A recessionary gap is more likely to be observed when:A. real GDP is above potential GDP.B. real GDP is below potential GDP.C. employment is above full-employment equilibrium.4.In an effort to influence the economy, a central bank conducted open market activities by selling government bonds. This implies that the central bank is most likely attempting to:A. contract the economy by reducing bank reservesB. expand the economy through a lower policy interest rateC. contract the economy through a lower policy interest rate5.A company using IFRS reports its interest payments on long-term debt as a financing activity. If the company reported under US GAAP, the most likely effect would be a:A. higher cash flow from operations.B. higher cash flow from financing activities.C. lower cash flow from investing activities.6.Under U.S. GAAP what is the most likely effect of the reversal of a valuation allowance related to a deferred tax asset on net income?A. No effectB. A decreaseC. An increase7.The following information is available about a company: (All figures in $ thousands) 2011 2010Deferred tax assets 200 160Deferred tax liabilities (450) (360)Net deferred tax liabilities (250) (200)Earnings before taxes 4,000 3,800Income taxes at the statutory rate 1,200 1,140Current income tax expense 1,000 900The company’s 2011 income tax expense (in thousands) is closest to:A. $1,000B. $1,050C. $1,2508.A bond has a modified duration of 6.5 and convexity of -42.4. If interest rates decrease by 1.0 percent, the percentage change in the value of the bond will be closest to:A. -6.92%.B. +2.76%.C. +6.08%.9.Assume the following six-month forward rates (presented on an annualized, bond-equivalent basis) were calculated fromthe yield curve.Notation Forward Rate1f0 0.50%1f1 0.70%1f2 1.00%1f3 1.50%1f4 2.20%1f5 3.00%1f6 4.00%The 3-year spot rate is closest to:A. 0.74%.B. 1.48%.C. 2.06%.10.The following table shows data for the stock of JKU and a market-index.Expected return of JKU 15%Expected return of market index 12%Risk free rate 5%Standard deviation of JKU returns 20%Standard deviation of market index returns 15%Correlation of JKU and market index returns 0.75Based on the capital asset pricing model (CAPM), JKU is most likely:A. overvalued.B. undervalued.C. fairly valued.11.An analyst conducts a significance test to determine if the relation between two variables is real or the result of chance. His null hypothesis is that the population correlation coefficient is equal to zero and his alternative hypothesis is that the populationcorrelation coefficient is different from zero. He gathers the following information:Value of the test statistic 2.8092Critical value at the 0.05 significance level 1.96Critical value at the 0.01 significance level 2.58The analyst most likely conducted a:A. one-tailed test and can reject his null hypothesis.B. two-tailed test and can reject his null hypothesis.C. two-tailed test and cannot reject his null hypothesis.12.The free-rider problem, an obstacle to efficiency, is most likely associated with:A. monopoliesB. public goodsC. subsidies and quotas13.Assume that two firms in a duopoly enter into a collusive agreement in an attempt to form a cartel and restrict output, raise prices, and increase profits. Given this, the most likely outcome according to the Nash equilibrium is that:A. Both firms cheatB. Both firms complyC. One firm cheats and the other firm complies14.Which of the following is least likely to be a warning sign of low quality earnings?A. Greater use of operating leases than peer companies.B. Use of a higher discount rate in pension plan assumptions.C. A ratio of operating cash flow to net income greater than1.0.15.Based on best practices in corporate governance procedures, independent board members most likely:A. Meet only in the presence of management.B. Have a “lead” director when the board chair is not independent.C. Hire independent consultants who are pre-approved by management.16.A series of interest rate put options that expire on different dates but have the same exercise rate is best defined as a (n):A. Interest rate cap.B. Interest rate floor.C. Interest rate collar.17. In comparison to a forward contract, a futures contract is most likely to be less:A. Liquid.B. Publicized.C. Customized.18.If the volatility of returns of an underlying security increases, then:A. both call and put option prices increase.B. both call and put option prices decrease.C. call prices increase and put prices decrease.19.High Plains Capital is a hedge fund with a portfolio valued at $475,000,000 at the beginning of the year. One year later, the value of assets under management is $541,500,000. The hedge fund charges a 1.5% management fee based on the end-of-year portfolio value, and a 10% incentive fee. If the incentive fee and management fee are calculated independently, the effective return for a hedge fund investor is closest to:A. 10.89%.B. 11.06%.C. 12.29%.20.Relative to an investor with a steeper indifference curve, the optimal portfolio for an investor with a flatter indifference curve will most likely have:A. A lower level of risk and return.B. A higher level of risk and return.C. The same level of risk and return.21.A project has the following expected cash flows:Time Cash Flow($)0 (125,000)1 100,0002 200,000If the risk-free interest rate is 4 percent, expected inflation is 3 percent, the market risk premium is 8 percent and the Beta for the project is 1, the investment’s net present value (NPV) is closest to:A. $113,000.B. $124,000.C. $139,000.22.Given the following information about three portfolios: PortfolioMean return on theportfolio (%) Standard deviation of the return on the portfolio (%) A 10 20 B 18 15 C63If the risk-free rate is 4%, which portfolio has the highest Sharpe ratio?A. Portfolio AB. Portfolio BC. Portfolio C23.An analyst gathers the following annual information ($ millions) about a company that pays no dividends and has no debt: Net income 45.8 Depreciation18.2 Loss on sale of equipment 1.6 Decrease in accounts receivable 4.2Increase in inventories 3.4 Increase in accounts payable 2.5 Capital expenditures 7.3 Proceeds from sale of stock8.5The company’s annual free cash flow to equity ($ millions) is closest to:A. 53.1.B. 58.4.C. 61.6.24.Analyst gathers the following information about a company andthe market:Current market price per share of c ommon stock €32.00 Most recent dividend per share paid on common stock €2.40 Expected dividend payout rate 40% Expected return on equity (ROE) 15% Beta for the common stock1.5 Expected return on the market portfolio 12% Risk-free rate of return 4%A. 16.0%.B. 16.5%.C. 17.2%.25.A market has the following limit orders standing on its book for a particular stock:Buyer Bid Size (# of shares) Limit Price ($) SellerOffer Size (# of shares) Limit Price ($) 1 500 18.5 1 200 20.2 2 300 18.9 2 300 20.35</td> 3 400 19.2 3 400 20.5 4 200 20.1 4 100 20.65< /td> 5 10020.15520020.7< /td> If a trader submits an immediate-or-cancel limit buy order for 700 shares at a price of $20.50, the most likely average price the trader would pay is:A. $20.35.B. $20.50.C. $20.58.26.An equity portfolio manager is evaluating her sector allocation strategy for the upcoming year. She expects global economic slowdown for the next two years. Further, she believes thatcompanies will be facing diminishing growth rates with respect to revenues and profits. Owing to these beliefs, the portfolio manager will most likely:A. Overweight materials.B. Overweight consumer staples.C. Underweight telecommunications.27.An investor establishes a short position in a futures contract on Day 0 when the price per contract is $100. The investor deposits $5 per contract to meet the initial margin requirement. The maintenance margin requirement per contract is $3. The Day 1 settlement price that would require the investor deposit additional funds on Day 2 equal to $4 per contract is closest to:A. $96.B. $103.28.According to put-call parity, a synthetic put contains a:A. Long position in the call.B. Long position in the underlying.C. Short position in the risk-free bond.29.A bond has a 10-year maturity, a $1,000 face value, and a 7% coupon rate. If the market requires a yield of 8% on the bond, it will most likely trade at a:A. Discount.B. Premium.C. Discount or premium, depending on its duration.30.Which of the following least likely describes an advantage of investing in hedge funds through a fund of funds? A fund of fundsmay provide investors with:A. Lower fees due to economies of scale.B. Access to funds that are closed to new investors.C. Access to managers with expertise in finding reliable and good-quality hedge funds.31.A fundamental analyst studying 100 potential companies for inclusion in her stock portfolio uses the following three screening criteria:Screening Criterion Number of Companies meeting the screenMarket-to-Book Ratio >4 20Current Ratio >2 40Return on Equity >10% 25Assuming that the screening criteria are independent, the probability (in %) that a given company will meet all three screening criteria is closest to:B. 8.5.C. 20.0.32.An expansionary fiscal policy is most likely associated with:A. crowding out of private investmentsB. an increase in capital gains tax ratesC. an increase in government spending on social insurance andbenefits33.A company which prepares its financial statements using IFRS wrote down its inventory value by €20,000 in 2009. In 2010, prices increased and the same inventory was worth €30,000 more than its value at the end of 2009. Which of the following statements is most accurate? In 2010, the company’s cost of sales:A. was unaffected.B. decreased by €20,000.C. decreased by €30,000.34.The financial statement that would be most helpful to an analyst in understanding the changes that have occurred in a company’s retained earnings over a year is the statement of:A. changes in equityB. financial positionC. comprehensive income35.A financial analyst utilizing his analytical expertise and up-to-date information buys a company’s stock. His close friends, who lack information or expertise, imitate the financial analyst’s action and buy the stock. Which of the following statements concerning this behavioral bias is most accurate?A. It improves market efficiency.B. It is identical to representativeness.C. It is inconsistent with rational behavior.36.A market participant has a view regarding the potential movement of a stock. He sells a customized over-the-counter put option on the stock when the stock is trading at $38. The put has an exercise price of $36 and the put seller receives $2.25 in premium. The price of the stock is $35 at expiration. The profit or loss for the put seller at expiration is:A. $(1.25)B. $1.25C. $2.2537.If market interest rates rise, the price of a callable bond, compared to an otherwise identical option-free bond, will most likely decrease by:A. Less than the option-free bond.B. More than the option-free bond.C. The same amount as the option-free bond.38.For an A- rated corporate bond that has deteriorating fundamentals, but is expected to remain investment grade, the greatest risk is most likely:A. default riskB. liquidity riskC. credit spread risk39.CIf three bonds are otherwise identical, the one exhibiting the highest level of positive convexity is most likely the one that is:A. Putable.B. Callable.C. Option-free./doc/071164029.html,pared to thetraditional Capital Asset Pricing Model (CAPM), where lending and borrowing are carried out at the risk-free rate, a zero-beta CAPM would most likely result in a security market line (SML) with:A. Unchanged intercept and slope.B. A higher intercept and flatter slope.C. A lower intercept and steeper slope.41.Assume U.S. GAAP (generally accepted accounting principles) applies unless otherwise noted.Two companies operating in the same industry both achieved the same return on equity with the same net sales, but the two companies were different with respect to return on total assets. Compared with the company that had the higher return on total assets, thecompany with the lower return on total assets most likely had a higher:A. total asset turnoverB. financial leverage multiplierC. proportion of common equity in its capital structure42.A company reported net income of $400,000 for the year. At the end of the year, the company had an unrealized gain of $50,000 on its available-for-sale securities, an unrealized gain of $40,000 on held-to-maturity securities and an unrealized loss of $100,000 on its portfolio of held-for-trading securities. The comp any’ s comprehensive income (in $) for the year is closest to:A. 350,000.B. 390,000.C. 450,000.43.The use of financial ratio analysis is most likely limited in which of the following situations? When:A. providing a means of evaluating management’s abilityB. comparing companies using different accounting methodsC. providing insights into microeconomic relationships within a company that help analysts project earnings and free cash flow44.A company is considering issuing a 10-year, option-free, semiannual coupon bond with a 9 percent coupon rate. The bond is expe cted to sell at 95 percent of par value. If the company’s marginal tax rate is 30 percent, then the after-tax cost of debt is closest to:A. 6.30%.B. 6.86%.C. 9.80%.45.The best description of the measure of cash flow to use when estimating the total value of a firm is the operating free cash flow:A. Prior to interest payments on debt.B. Prior to interest payments on debt but after deducting funds needed for capital expenditures.C. After adjustment for payments to debt holders, but before dividend payments to common stockholders.46. An analyst gathers the following information about a company: Balance SheetAssets Liabilities and Shareholders’ EquityCash $5,000 Accounts payable $10,000 Accounts receivable 15,000 Notes payable 15,000 Inventory 25,000 Long-term debt 40,000Net fixed assets 80,000 Commonshareholders’equity60,000Total assets $125,000 Total liabilities andequity$125,000Additional InformationNumber of outstanding shares 7,000Market value of long-term debt $45,000Market value of accountsreceivable and inventory90% of reported valuesNet fixed assets 120% of reported value Accounts payable and notes payable Same as the reported value Using asset-based valuation approach, the estimated value per share is closest to:A. $ 9.57.B. $10.29.C. $11.00.47.An investor goes long an FRA that expires in 30 days for which the underlying is 90-day LIBOR for a notional of $10 million.A dealer quotes this instrument at 4.5 percent. At expiration, 60-day LIBOR is 3.5 percent and 90-day LIBOR is 4 percent. The payment made at expiration is closest to:A. $ 12,376 from the investor to the dealerB. $ 12,376 from the dealer to the investorC. $ 16,570 from the investor to the dealer48.An endowment’s fi xed income portfolio comprises three bonds whose market values, par values, coupon rates, and durations are given in the following table:Bond 1 Bond 2 Bond 3Market value $500,000 $1,200,000 $300,000Par value $580,000 $1,100,000 $320,000Coupon rate 11.00% 6.00% 9.00%Duration 6.2 8.1 2.9The port folio’s duration is closest to:A. 5.73.B. 6.31C. 6.85.49.Consider a $100 par value bond, with an 8% coupon paid annually, maturing in 20 years. If the bond currently sells for $96.47, the yield to maturity is closest to:A. 7.41%.B. 8.29%.C. 8.37%.50.Which of the following statements is least accurate? An investor may construct a portfolio located on the capital market line (CML) by:A. Investing a portion of his capital in the risk-free assetand the balance in a fully diversified portfolio of all equities.B. Investing a portion of his capital in the risk-free assetand the balance in a fully diversified portfolio of all risky assets.C. Borrowing capital at the risk-free rate and investing allhis capital plus all borrowed capital in a fully diversified portfolio of all risky assets.51.A money manager has $1,000,000 to invest for one year. She has identified three alternative one-year certificates of deposit (CD) shown below:Compounding frequencyCD1 Monthly 7.82%CD2 Quarterly 8.00%CD3 Continuously 7.95%Which CD has the highest effective annual rate (EAR)?A. CD 1B. CD 2C. CD 352.An analyst wants to estimate the return on the S&P 500 Index for the current year using the following data and assumptions: Sample size = 50 securities from the index Mean return for those stocks in the sample for the previous year = 0.114.Variance = 0.0529The reliability factor for a 95% confidence interval with unknown population variance and sample size greater than 30 is .If he assumes that the S&P return this year will be the same as it was last year, which of the following is the best estimate of the 95% confidence interval for this year’s S&P return?A. –0.11600 to +0.34400B. +0.05024 to +0.17775C. +0.06110 to +0.1669053.Which of the following will most likely cause the short-run aggregate supply (SRAS) curve to shift to the right?A. Increase in nominal wagesB. Increase in the supply of human capitalC. Increase in business taxes54.Generational accounting indicates the United States, as well as other developed nations, faces severe generational imbalances regarding government programs such as Social Security. Which of the following is most likely a possible outcome?A. Reduction in income taxesB. Increase in government discretionary spendingC. Creation of new money to pay government obligations55.Which of the following is most consistent with real business cycle (RBC) models? The arguments and recommendations of RBC models suggest that:A. monetary variables have a major impact on GDP growth.B. persons are unemployed because their asking wages are too high.C. governments should intervene when the economy is in contraction.56.A firm’s price-to-earnings ratio (P/E) is 12.5. The firm has decided to repurchase shares using external funds that have an after-tax cost of 9%. After the repurchase, the earnings per share (EPS) will most likely:A. Increase.B. Decrease.C. Remain unchanged.57. A compa ny’s series B, 8% preferred stock has the following features:A par value of $50 and pays quarterly dividends.Its current market value is $35.The shares are retractable (at par) with the retraction date set for three years from today.Similarly rated preferred issues have an estimated nominal required rate of return of 12%.Analysts expect a sustainable growth rate of 4% for the company’s earnings.The intrinsic value estimate of a share of this preferred issue is closest to:A. $33.33.B. $45.02.C. $52.00.58.An analyst determines that a 5.50 percent coupon option-free bond, maturing in 7 years, would experience a 3 percent decrease in price if market interest rates rise by 50 basis points. If market interest rates instead fall by 50 basis points, the bond’s price would increase by:A. Exactly 3%.B. Less than 3%.C. More than 3%.59.The table below provides a probability distribution of stock returns for shares of Orion Corporation:Rate ofProbability Return (%)0.15 -120.6 110.25 18The variance of returns for Orion Corporation stock is closest to:A. 44.36B. 50.94C. 88.7160. According to the Capital Asset Pricing Model (CAPM) if investors borrow at a rate that exceeds the risk-free lending rate the resulting borrowing portfolios will:A. Plot on a flatter line.B. Plot on a steeper line.C. No longer plot on a straight line.61.An analyst collects the following set of past stock returns: -2.3%, -5.1%, 7.6%, 8.2%, 9.1%, and 9.8%. Which of the following measures of return is most likely the highest?A. Median returnB. Geometric mean returnC. Arithmetic mean return62.In the short run, an increase in output at low levels of production will most likely cause:A. an increase in the marginal cost due to the rising total fixed costB. an increase in the marginal cost due to the law of diminishing returnsC. a decrease in the marginal cost due to economies from greater specialization63. A company has just completed the sale of a tract of land for €3.5 million which was originally acquired at a cost of €2.0 million. The purchaser made a down-payment of €200,000 with the remainder to be paid in equal installments over the next 10 years.。
高二英语数学建模方法单选题20题答案解析版1.In a mathematical modeling project, we need to find the optimal solution. The word "optimal" means _____.A.goodB.bestC.acceptablemon答案：B。
“optimal”的意思是“最佳的”，选项A“good”是“好的”，不如“最佳的”准确；选项C“acceptable”是“可接受的”，也不符合；选项D“common”是“常见的”，与“optimal”意思相差甚远。
2.When we build a mathematical model, we often use some assumptions. The word "assumptions" means _____.A.factsB.guessesC.proofsD.results答案：B。
“assumptions”的意思是“假设”，比较接近“guesses”（ 猜测）；选项A“facts”是“事实”；选项C“proofs”是“证明”；选项D“results”是“结果”，都与“假设”意思不同。
3.In a mathematical modeling process, we need to validate the model. The word "validate" means _____.A.testB.createC.changeD.ignore答案：A。
“validate”的意思是“验证”，与“test”（ 测试）意思相近；选项B“create”是“创建”；选项C“change”是“改变”；选项D“ignore”是“忽略”，都不符合“验证”的意思。
4.A mathematical model should be accurate and reliable. The word "reliable" means _____.efulB.trustworthyC.interestingD.difficult答案：B。
第九届中金所杯题库英文回答：The 9th CFFEX Cup Question Bank.As a participant of the 9th CFFEX Cup, I am excited to answer the questions in both English and Chinese. The competition is a great opportunity for me to showcase my knowledge and skills in finance.First and foremost, I would like to express mygratitude to the organizers for providing such a platform. It is a chance for me to challenge myself and learn from other talented individuals.Now let's dive into the questions. The question bank covers a wide range of topics related to finance, including investment, risk management, derivatives, and market analysis. Each question requires a comprehensive understanding of the subject matter and the ability toapply theoretical knowledge to practical scenarios.For example, one question may ask about the advantages and disadvantages of different investment strategies. In my English answer, I would explain the pros and cons of long-term investing versus short-term trading, and provide real-life examples to illustrate my points. I might mention how long-term investing allows for compounding returns and reduces transaction costs, while short-term trading can take advantage of market volatility for quick profits.In my Chinese answer, I would use more colloquial expressions to make the explanation more relatable. I might say something like, "长期投资就像种树一样，需要等待树苗长成参天大树，才能收获丰厚的果实。
高二英语区块链技术练习题40题答案解析版1. The concept of blockchain was first proposed in the early ____.A. 1990sB. 2000sC. 2010sD. 2020s答案解析：A。
本题考查年代的表达。
“in the early 1990s”表示在20世纪90年代早期，区块链概念最早是在这个时期被提出的。
选项B 2000s是21世纪初，选项C 2010s是21世纪10年代，选项D 2020s 是21世纪20年代，均不符合区块链概念提出的时间，所以答案是A。
2. Blockchain technology is often associated with ____.A. centralizationB. decentralizationC. globalizationD. localization答案解析：B。
本题考查区块链技术的特点相关的词汇。
区块链技术的一个重要特点是去中心化（decentralization）。
选项 A centralization是中心化，与区块链特点相悖。
选项C globalization是全球化，选项D localization是本地化，这两个选项与区块链技术的核心特点无关，所以答案是B。
3. Which of the following is a key feature of blockchain?A. Single - point of controlB. Immutable recordsC. Limited transparencyD. Central authority答案解析：B。
本题考查区块链的关键特征。
区块链的关键特征之一是不可篡改的记录（Immutable records）。
选项A Single - point of control是单点控制，这与区块链的去中心化特征不符。
选项C Limited transparency是有限透明度，区块链是高度透明的。
A comprehensive kinetics model of Fischer–Tropsch synthesisover an industrial Fe–Mn catalystBo-Tao Teng a,b,*,Jie Chang a,Cheng-Hua Zhang a,Dong-Bo Cao a,Jun Yang c,Ying Liu a,Xiao-Hui Guo a,Hong-Wei Xiang a,Yong-Wang Li a,*a Group of Catalytic Kinetics&Theoretical Modeling,State Key Laboratory of Coal Conversion,Institute of Coal Chemistry,Chinese Academy of Sciences,Taiyuan030001,People’s Republic of Chinab Zhejiang Key Laboratory for Reactive Chemistry on Solid Surfaces,Institute of Physical Chemistry,Zhejiang Normal University,Jinhua321004,People’s Republic of Chinac Department of Chemistry,Jinan University,Guangzhou510632,People’s Republic of ChinaReceived10August2005;received in revised form9November2005;accepted12November2005AbstractA comprehensive Fischer–Tropsch synthesis(FTS)kinetics model including the hydrocarbon and oxygenate formation reactions as well as water gas shift(WGS)reaction over an Fe–Mn catalyst is developed in a continuous spinning basket reactor.On the basis of CH2insertion alkyl mechanism,the kinetics expressions for paraffins,olefins,alcohols and acids are derived.Kinetics calculation results indicate that the formation of paraffins,olefins,alcohols and acids over the Fe–Mn catalyst are parallel competitive reactions.Reasonable and strict analysis in mathematics is given to interpret the results which the comprehensive kinetics model cannot predict the olefin/hydrocarbon ratio well though the olefin readsorption and secondary reactions are involved in the kinetics model.Oxygenates might readsorb over the catalyst surface and take part into the corresponding secondary reactions(chain growth and hydrogenation to the corresponding hydrocarbons),which leads to the exponentially decrease of the experimental alcohol/hydrocarbon and acid/hydrocarbon ratios with the increase of carbon number.#2005Elsevier B.V.All rights reserved.Keywords:Fischer–Tropsch synthesis;Fe–Mn catalyst;Comprehensive kinetics;Water gas shift reaction;Oxygenate1.IntroductionFischer–Tropsch synthesis(FTS)process,which converts syngas to paraffins,olefins and oxygenates,is believed to be one of the most important options for the production of clean transportation fuels and chemicals under the background of the depleting resources of crude oil today[1–6].Iron-based catalysts,namely Fe–Cu–K and Fe–Mn catalysts,have been successfully applied in the industrial process due to their low cost and high water gas shift(WGS)reaction activity,which makes iron-based catalysts suitable for the coal-based CO-rich syngas[7–10].Compared with cobalt-based catalysts,the iron-based catalysts have relatively high activity for oxygenate formation reaction[11,12],mainly including alcohols,small amount of acids,aldehydes,ketones and esters.Although the total amount of oxygenates is relatively low compared with hydrocarbons,the acids can erode the equipment and lower the FTS syncrude quality.On the other hand,the good under-standing of oxygenate formation mechanism will give a comprehensive insight to FTS reactions.Kinetic study of FTS reaction based on the detailed reaction mechanism via Langmuir–Hinshelwood–Hougen–Watson (LHHW)method is very important for the development of catalyst and industrial practices[13].It is a bridge to associate the macro-experimental results with the micro-reaction mechanisms and to provide quantitative information such as syngas consumption rates and product formation rates,which are very important for the reactor and the whole process design, optimization and simulation.Therefore,it is very important for the industrial FTS practice to develop a comprehensive kinetics model in which the main products,namely paraffins,olefins and oxygenates can be calculated simultaneously with the syngas consumption as well as the WGS reaction rates./locate/apcataApplied Catalysis A:General301(2006)39–50*Corresponding authors.Tel.:+863514130337;fax:+863514050320.E-mail addresses:botaoteng@(B.-T.Teng),ywl@(Y.-W.Li).0926-860X/$–see front matter#2005Elsevier B.V.All rights reserved.doi:10.1016/j.apcata.2005.11.014The FTS kinetic studies are generally divided into two methods.One method was aimed at the description of the syngas consumption rate by using empirical equations or lumped kinetics on the basis of FTS reaction mechanisms reported in literature [14–23].The other was aimed at the product distribution,mainly for hydrocarbons,by using the traditional Anderson–Schulz–Flory (ASF)law,in which a chain growth factor has been applied to describe the FTS product distribution by assuming that the chain growth and termination rates are independent of carbon number.In order to explain the main deviations of hydrocarbon distribution from the ASF law,namely the increase of the chain growth factor with the increase of carbon number,the olefin readsorption and secondary reactions were involved in the kinetics and reactor models [24–29].Lox and Froment [30,31]firstly developed FTS kinetics models based on the detailed reaction mechanisms to derive the hydrocarbon ing the same LHHW kinetic method,Wang et al.[32]obtained the FTS kinetics model including the olefin readsorption and secondary reactions over an industrial Fe–Cu–K catalyst,and more FTS reaction mechanisms and kinetics models were taken into account by Yang et al.[33]over an industrial Fe–Mn catalyst.More recently,a new kinetic modeling way for the complex FTS kinetics was proposed by our group,in which the WGS reaction,hydrocarbon and oxygenate formation reactions were modeled and evaluated separately by using the advantages of the working environmental uniformity in the gradientless reactor [12,34].With this understanding,the WGS reaction [34],oxygenate [12]and hydrocarbon [35,36]kinetics models were established and evaluated separately.However,all of these kinetics studies were focused on either hydrocarbon or oxygenate distribution,and seldom models dealt with the hydrocarbon and oxygenate distribution simultaneously.In this work,a comprehensive FTS kinetics model is derived on the basis of the CH 2insertion alkyl reaction mechanism.The product formation rates (paraffins,olefins,alcohols and acids)and WGS reaction rate as well as syngas consumption rate can be obtained simultaneously in this kinetics model.Basing on the systematic FTS kinetic study,a comprehensive under-standing of FTS process and reaction mechanisms is obtained.2.ExperimentalThe kinetics experiments were carried out in a continuous spinning basket reactor.The detailed description of the experimental setup,product analysis and kinetics data wasB.-T.Teng et al./Applied Catalysis A:General 301(2006)39–5040NomenclatureE reaction activation energy (kJ mol À1)F obj,F objective function of FTS reactionk 1kinetics constant for the CO adsorption (mol À1kg À1s À1bar À1)k À1kinetics constant for the CO desorption(mol À1kg À1s À1)k 5rate constant of chain growth in FTS mechanism(mol À1kg À1s À1)k 5,0pre-exponential factor of chain growth in FTSmechanism (mol À1kg À1s À1)k 9rate constant of the formation of alcohols(mol À1kg À1s À1)k 9,0pre-exponential factor of the formation of alco-hols (mol À1kg À1s À1)k 9,1rate constant of the formation of methanol(mol À1kg À1s À1)k 9,1,0pre-exponential factor of the formation of metha-nol (mol À1kg À1s À1)k 10rate constant of the formation of acids(mol À1kg À1s À1)k 10,0pre-exponential factor of the formation of acids(mol À1kg À1s À1)k 11rate constant of the formation of paraffins(mol À1kg À1s À1)k 11,0pre-exponential factor of the formation of paraf-fins (mol À1kg À1s À1)k 11,1rate constant of the formation of methane(mol À1kg À1s À1)k 11,1,0pre-exponential factor of the formation ofmethane (mol À1kg À1s À1)k 12rate constant of the formation of olefins(mol À1kg À1s À1)k 12,0pre-exponential factor of the formation of olefins(mol À1kg À1s À1)k À12rate constant of olefin readsorption reaction(mol À1kg À1s À1bar À1)k W2rate constant of WGS reaction (mol kg À1s À1)k W2,0pre-exponential factor of WGS reaction(mol kg À1s À1)K i equilibrium constant of the i th elementary reac-tion in FTS mechanism K P equilibrium constant of WGS reaction K W1equilibrium constant of the 1st elementary reac-tion in WGS mechanism (bar À2)K W3equilibrium constant of the 3rd elementary reac-tion in WGS mechanism (bar À1)m i,j ,cal i th calculated molar flow rate for the j th experi-mental point (mol s À1)m i,j ,exp i th experimental molar flow rate for the j thexperimental point (mol s À1)MARR mean absolute relative residual N exp the number of experimental points NRS the number of responses for FTS P i partial pressure of component i (bar)w j the weight factor of the j th responseGreek lettersa T,1chain growth factor of FTS reaction for carbon number 1a T,i chain growth factor of FTS reaction for carbonnumber (n !2)b n olefin readsorption factor with carbon number n(n !2)given in our previous work [12].In order to illustrate the experiment clearly and briefly,the experimental setup is shown in Fig.1and a total of 22sets of experimental data with the experimental operations and kinetics results are listed in Table 1.3.FTS and WGS reactions kinetics model 3.1.Reaction mechanisms for the formation of hydrocarbons and oxygenatesAlthough great efforts had been devoted to the FTS reaction mechanism study by all kinds of means,such as steady-state isotopic tracing transient kinetics analysis (SSITKA)technique [37–40]and in-situ spectroscopic observation of the reaction intermediates [41–43],temperature programmed desorption (TPD),temperature programmed surface reaction (TPSR)[44,45],the addition of model reagents (CH 2N 2,CH x Cl 4Àx ,olefins,alcohols,CH 2CO,O 2,CO 2,etc.)into the FTS reaction system [46–51],quantum chemical calculation [52–56]and microkinetics analysis [57],there are still many controversies on the reaction mechanisms of the hydrocarbon and oxygenate formation reactions.To develop a comprehensive FTS kinetics model,the CH 2insertion alkyl mechanism,which is generally accepted in the kinetic modeling,is adopted in this work [12,23–29].Paraffins are formed by the hydrogenation of alkyls,olefins by the b -H elimination of alkyls,alcohols by the successive hydrogenation of [RCO-s]intermediates,acids by the reaction of [RCO-s]and [OH-s]species,and [CH 2-s]as the monomer for the chain growth.The corresponding FTS reaction mechanisms are shown in Fig.2and the elementaryreaction steps of hydrocarbon and oxygenate formation for the kinetics model derivation are listed in Table 2.3.2.Kinetics model for the formation of hydrocarbons and oxygenatesIn order to derive the kinetics expressions for paraffins,olefins,alcohols and acids,several assumptions are made:(1)The hydrocarbon and oxygenate formation reactions are believed to occur on the same active sites [58–60],while the FTS and WGS reactions are assumed to occur on two different active surface sites over the catalyst [7,61,62].(2)All intermediates on the catalyst surface are assumed to be in quasi-steady state.(3)It is assumed that the rate constants of [CH 2-s]insertion for the alkyl chain growth and the chain termination rate constants for the formation of corresponding paraffins,B.-T.Teng et al./Applied Catalysis A:General 301(2006)39–5041Fig.1.Experimental setup.(1)Gas cylinders,(2)pressure meters,(3)pressure regulators,(4)pressure regulators before the reactor,(5)mass flow controllers,(6)reaction tank,(7)wet flow meter,(8)needle valves,(9)back pressure regulator,(10)purification columns,(11)wax condenser,(12)oil/water condenser,(13)wax trap (hot trap),(14)cold trap,(15)high temperature ball valves,(16)ball valves,(17)basket reactor and (18)temperature detectortube.Fig.2.Reaction mechanism for the formation of paraffins,olefins,alcohols and acids via CH 2insertion mechanism;R means C n À1H 2n À1.olefins,alcohols and acids are all independent of carbon number except for methane and methanol.(4)It is assumed that the rate determining steps(RDSs)are step5,9,10,11and12,namely,the chain growth and the chain termination for the paraffins,olefins,alcohols and acids, while others are assumed to be fast steps and reach pseudoequilibrium state compared with the rate determin-ing steps.(5)The olefin readsorption and secondary reactions which leadto the hydrocarbon distribution deviation from the ASF law, are included in the derivation of the comprehensive kinetics model[27–29].The mathematical derivation of the detailed mechanistic kinetics model for the CH2insertion mechanism is performed below.According to the pseudoequilibrium assumption for the elementary reaction1(CO adsorption and desorption),the rate of CO adsorption equals to that of CO desorption,which can be expressed by the following equation.r a;1¼k1P CO½s ¼r d;1¼kÀ1½CO-s (1) Therefore the CO adsorption equilibrium K1can be obtained:K1¼k1À1¼½CO-sCO(2)Consequently,the adsorbed CO intermediates on the catalyst surface can be derived as follows:½CO-s ¼K1P CO½s (3) where the r a,1and r d,1are the CO adsorption and desorption rates respectively,and k1and kÀ1are the kinetics constants for the CO adsorption and desorption rates,while K1is the CO adsorption equilibrium constant.The other reaction intermediates can be obtained by the same way:½H-s ¼ffiffiffiffiffiffiffiffiffiffiffiffiffiK4P H2p½s (4)½OH-s ¼P H2O½sðK6ffiffiffiffiffiffiffiffiffiffiffiffiffiK4P H2pÞ(5)½C-s ¼K2½CO-s ½H-s½OH-s¼K1K2K4K6P H2P CO½sP H2O(6)B.-T.Teng et al./Applied Catalysis A:General301(2006)39–5042Table1Experimental operation conditions and reaction resultsNumber T(K)P(bar)H2/CO ratio F in(ml/min)Reaction time(h)F exit(ml/min)Oil(g)Wax(g)Water(g) 153315.8 1.00167.223.95147.9 2.5716.65 2.49 253320.5 1.51208.211.87175.8 2.72 5.78 1.77 353325.1 2.05250.212.00210.4 1.70 4.85 4.77 454316.50.67166.419.08146.2 3.118.150.81 554316.3 1.01249.612.33236.4 1.767.03 1.84 654311.00.99167.212.18160.3 1.78 3.46 1.09 754326.0 1.50333.711.98278.0 4.01 6.83 5.13 854322.0 1.99333.512.32291.5 3.75 3.13 6.00 955316.7 1.01249.620.38214.5 6.58 6.83 4.65 1055321.50.68416.812.75404.6 3.629.36 2.40 1155326.1 1.00333.012.00267.0 6.538.40 3.69 1255312.0 1.49167.012.19140.3 2.90 3.06 1.40 1355316.5 2.02250.212.32215.1 2.27 2.13 3.84 1456316.7 1.00333.023.32287.911.00 5.44 6.49 1556316.8 1.50333.712.58289.4 4.24 1.63 5.19 1656320.3 1.00416.411.67364.1 6.70 3.28 4.55 1756325.70.68416.811.87345.9 6.8811.45 3.01 1856311.7 2.02250.212.22226.0 2.64 2.07 3.56 1957317.5 1.00416.421.03359.313.57 4.927.74 2057319.8 1.00499.812.32429.58.75 2.49 4.95 2157320.9 1.50583.712.20524.17.13 1.2310.66 2257325.5 1.99666.611.88597.9 6.20 1.2114.42Table2Elementary reaction steps for FTS reaction based on CH2insertion alkylmechanism1CO+s=CO-s2CO-s+H-s=C-s+OH-s3C-s+H2=CH2-s4H2+2s=2H-s5(n)CH2-s+H-sÀCH3-s+s RDSCH2-s+C n H2n+1-sÀC n H2n+1CH2-s+s RDS6HO-s+H-s=H2O+2s7H-s+CO-s=HCO-s+sC n H2n+1-s+CO-s=C n H2n+1CO-s+s8HCO-s+H2=HCHOH-sC n H2n+1CO-s+H2=C n H2n+1CHOH-s9(n)HCHOH-s+H-sÀCH3OH+2s RDSC n H2n+1CHOH-s+H-sÀC n H2n+1CH2OH+2s10(n)HCO-s+OH-sÀHCOOH+2s RDSC n H2n+1CO-s+OH-sÀC n H2n+1COOH+2s11(n)CH3-s+H-sÀCH4+2s RDSC n H2n+1-s+H-sÀC n H2n+1CH3+2s12(n)C n H2n+1-s=C n+1H2n+H-s RDS½CH2-s ¼K3P H2½C-s ¼K1K2K3K4K6P2H2P CO½sP H2O(7)½C n H2nþ1CO-s ¼K1K7P CO½C n H2nþ1-s (8)½C n H2nþ1CHOH-s ¼K8½C n H2nþ1CO-s P H2¼K1K7K8P CO P H2½C n H2nþ1-s (9)According to literature[10,60],the C1intermediate has highability to be hydrogenated to form methane.This leads to the corresponding low opportunity for the formation of methanol and negligible formic acid[12].Therefore,the rate constant of the formation of methane,methanol will be calculated respectively and the formic acid will not be included in this work.The kinetics expressions for the formation of methanol, methane,paraffins,olefins,alcohols and acids can be defined as follows:R CH3OH¼k9;1½HCHOH-s ½H-s (10)R CH4¼k11;1½CH3-s ½H-s (11)R Cn H2nþ1OH¼k9½C nÀ1H2nÀ1CHOH-s ½H-s (12)R Cn H2nÀ1OOH ¼k10P H2½C nÀ1H2nÀ1CO-s ½OH-s (13)R Cn H2nþ2¼k11½C n H2nþ1-s ½H-s (14)R Cn H2n ¼k12½C n H2nþ1-s ÀkÀ12P Cn H2n½H-s (15)According to the quasi-steady state assumption for the surface intermediate[CH3Às]:d½CH3-sd t¼k5½H-s ½CH2-s Àk5½CH3-s ½CH2-sÀk9;1½H-s ½CH3CHOH-s Àk11;1½H-s ½CH3-s (16) Substitution of Eq.(9)in Eq.(16),we have:k5½H-s ½CH2-s Àk5½CH3-s ½CH2-sÀk9;1K1K7K8P H2P CO½CH3-s ½H-sÀk11;1½H-s ½CH3-s ¼0ðn¼1Þ(17) Rearranging the above formula to obtain the expression of the intermediate[CH3Às]:½CH3-s ¼k5½CH2-s ½H-sk5½CH2-s þk9;1K1K7K8P H2P CO½H-s þk11;1½H-s¼a T;1½H-s (18) wherea T;1¼k5½CH2-sk5½CH2-s þk9;1K1K7K8P H2P CO½H-s þk11;1½H-s(19)Similarly,applying the quasi-steady state assumption for the surface intermediate[C n H2n+1Às]:d½C n H2nþ1-sd t¼k5½C nÀ1H2nÀ1-s ½CH2-sÀk5½C n H2nþ1-s ½CH2-s Àk9½H-s ½C n H2nþ1CHOH-sÀk10½C n H2nþ1CO-s ½OH-s Àk11½C n H2nþ1-s ½H-sÀk12½C n H2nþ1-s þkÀ12P Cn H2n½H-s ðn>1Þ(20) Substitution of Eqs.(8)and(9)in Eq.(20),we have:k5½C nÀ1H2nÀ1-s ½CH2-s Àk5½C n H2nþ1-s ½CH2-sÀk9K1K7K8P H2P CO½C n H2nþ1-s ½H-sÀk10K1K7P CO½OH-s ½C n H2nþ1-sÀk11½C n H2nþ1-s ½H-s Àk12½C n H2nþ1-sþkÀ12P Cn H2n½H-s ¼0ðn>1Þ(21) Rearranging the above formula leads to the expression of [C n H2n+1Às]:½C n H2nþ1-s ¼k5½CH2-s ½C nÀ1H2nÀ1-sk5½CH2-s þk9K1K7K8P H2P CO½H-sþk10K1K7P CO½OH-s þk11½H-s þk12þkÀ12P Cn H2n½H-sk5½CH2-s þk9K1K7K8P H2P CO½H-sþk10K1K7P CO½OH-s þk11½H-s þk12¼a A½C nÀ1H2nÀ1-s þBP Cn H2n¼a nÀ1A½CH3-sþBX ni¼2a nÀiAP Ci H2i¼Y ni¼1a T;i½H-s¼Y ni¼1a T;iffiffiffiffiffiffiffiffiffiffiffiffiffiK4P H2p½s (22) wherea T;n¼½C n H2nþ1-s½C nÀ1H2nÀ1-s¼k5½CH2-sk5½CH2-s þk9K1K7K8P H2P CO½H-sþk10K1K7P CO½OH-s þk11½H-sþk12ð1ÀðkÀ12P Cn H2n½H-s =k12½C n H2nþ1-s ÞÞ¼k5½CH2-sk5½CH2-s þk9K1K7K8P H2P CO½H-sþk10K1K7P CO½OH-s þk11½H-s þk12ð1Àb nÞðn>1Þ(23) a A¼k5½CH2-sk5½CH2-s þk9K1K7K8P H2P CO½H-sþk10K1K7P CO½OH-s þk11½H-s þk12(24) B¼kÀ12P Cn H2n½H-sk5½CH2-s þk9K1K7K8P H2P CO½H-sþk10K1K7P CO½OH-s þk11½H-s þk12(25)where a T,1is the chain growth factor for C1intermediate,a T,n is the chain growth factor for carbon number n.B.-T.Teng et al./Applied Catalysis A:General301(2006)39–5043Normalization of the concentration of all the intermediates on the catalyst surface leads to:½s þ½CO-s þ½H-s þ½HCO-s þ½HCHOH-s þ½C-sþ½OH-s þ½CH2-s þX ni¼1½C i H2iþ1-s þX ni¼1½C i H2iþ1CO-sþX ni¼1½C i H2iþ1CHOH-s ¼1(26)Combining the above equations,the concentration of free site [s]can thus be expressed as follows:½s ¼1½1þK1P COþffiffiffiffiffiffiffiffiffiffiffiffiffiK4P H2pþK1K7P COffiffiffiffiffiffiffiffiffiffiffiffiffiK4P H2pþK1K7K8P CO P H2ffiffiffiffiffiffiffiffiffiffiffiffiffiK4P H2pþK1K2K4K6P H2P CO=P H2O þK1K2K3K4K6P2H2P CO=P H2OþP H2O=ðK6ffiffiffiffiffiffiffiffiffiffiffiffiffiK4P H2pÞþP ni¼1Q ii¼1a T;ið1þK1K7K8P CO P H2ffiffiffiffiffiffiffiffiffiffiffiffiffiK4P H2pþK1K7P COffiffiffiffiffiffiffiffiffiffiffiffiffiK4P H2pÞffiffiffiffiffiffiffiffiffiffiffiffiffiK4P H2p(27)Then the product formation rates can be given as follows:R CH3OH ¼k9;1K1K4K7K8P CO P2H2½s 2(28)R CH4¼k11;1½CH3-s ½H-s ¼k11;1a T;1K2P H2½s 2(29)R Cn H2nþ1OH ¼k9K1K4K7K8P CO P2H2Y nÀ1i¼1a T;i½s 2(30)R Cn H2nÀ1OOH ¼k10K1K7P CO P H2OQ nÀ1i¼1a T;i½s 2K6(31)R Cn H2nþ2¼k11½C n H2nþ1-s ½H-s ¼k11K4P H2½s 2Y ni¼1a T;i(32)R Cn H2n ¼k12½C n H2nþ1-s ÀkÀ12P Cn H2n½H-s¼k12ffiffiffiffiffiffiffiffiffiffiffiffiffiK4P H2p½sY ni¼1a T;ið1Àb nÞ(33)b n¼kÀ12P Cn H2n½H-sk12½C n H2nþ1-s:(34)3.3.Kinetics model for WGS reactionBased on the previous work of the systematic WGS reaction kinetic study under FTS reaction conditions in our group[34], the WGS kinetics model,with the desorption of the formate species to CO2as the RDS,is adopted in this work.The kinetics expression for WGS reaction is written as follows:R CO2¼k W2K W1K W3P CO P H2OÀk WÀ2P H2P CO2ffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiffiK W3P H2pþP H2þK W1P CO P H2O=P H2(35)andk WÀ2¼k W2K W1K W3K P:(36)3.4.Reactor modelGradientless reaction conditions are approached in aspinning basket reactor.Therefore,the reactor model for theWGS reaction and the other products formation reactions canbe expressed as the simple formula due to the uniform reactionenvironment in the reactor:m iW¼X N Rj¼1a i;j R jði¼1;......N CÞ(37)where m i is the molarflow rate(mol sÀ1)of component i at thereactor outlet;W is the weight of catalyst(kg);N C is the numberof components involved;N R is the number of reactions con-cerned;R j is the formation rate of the j th reaction(mol kgÀ1sÀ1),which are defined by R CO2,R Cn H2nþ1OH,R Cn H2nÀ1OOH,R Cn H2nþ2,R Cn H2n;a i,j is the stoichiometric coeffi-cient for the i th component in the j th reaction.The correspond-ing matrix of the stoichiometric coefficients between theproducts and reactions according to the FTS and the WGSreactions are listed in Table3.The syngas consumption ratesare calculated by the addition of the total consumption rates ofCO and H2for the hydrocarbon and oxygenate formationreactions as well as WGS reaction.The temperature dependence of the reaction constants isevaluated according to the Arrhenius-type equation:k iðTÞ¼k i;o expÀEiRT:(38)4.Result and discussionThe overall reactions for FTS and WGS over an iron-basedcatalyst can be written as follows:Paraffins formation:ð2nþ1ÞH2þn CO!C n H2nþ2þn H2O(39)Olefins formation:2n H2þn CO!C n H2nþn H2O(40)Alcohols formation:2n H2þn CO!C n H2nþ2OþðnÀ1ÞH2O(41)Acids formation:2ðnÀ1ÞH2þn CO!C n H2nÀ1OOHþðnÀ2ÞH2O(42)WGS reaction:COþH2O!H2þCO2(43)The dominant products of syngas over Fe–Mn catalyst areparaffins,olefins and alcohols,small amount but importantacids as well as CO2from WGS reaction.Thus the objec-B.-T.Teng et al./Applied Catalysis A:General301(2006)39–5044tive function of the comprehensive kinetics model is defined as:F obj ;F¼X N exp i ¼1X N RS j ¼1w jm i ;j ;exp Àm i ;j ;cal i ;j ;exp2ðj ¼CO ;H 2;CO 2;C o 1;C ¼;o 2e C ¼;o 5;C ¼;o 7e C ¼;o 12;C þ5;C þ11;CH 3OH ;C 2H 5OH ;......;C 10H 21OH ;C 2H 3OOH ;......;C 5H 9OOH Þ(44)where m i ,j ,exp represents the j th response molar flow rate of i th experimental point,NRS represents the number of responses in the multi-response system,w j represents the weight factor of the j th response objective function.To assign the weight factor w j is very important for the complex FTS kinetics regression.The corresponding w j of the components for CO,H 2,CO 2,CH 4,C 5+,C 11+and CH 3COOH is 3,3,3,3,5,3and 2,respectively,others are assumed to be 1correspondingly in order to make the important response objective have relatively high precision and to make the total objective function have relatively low mean deviations between the predicted and experimental data.During the kinetics regression,the response objective function is weighted,while the kinetics calculation results given in this paper are unweighted after the regression.The mean absolute relative residual (MARR)between experimental and calculated molar flow rate of oxygenates is defined as:MARR ð%Þ¼X N exp i ¼1X N RS j ¼1j m i ;j ;exp Àm i ;j ;cal j m i ;j ;expÂ1N exp ÂNRSÂ100(45)In order to optimize the kinetics parameters globally,the parameters of the comprehensive FTS kinetics model are estimated in a first step using the genetic algorithm (GA)approach and then using the Levenberg–Marquardt (LM)algo-rithm to make refined optimization [33].The detailed procedure for the kinetics parameter estimation is shown in Fig.3.The statistical test (F -test)is used to evaluate the significance of kinetics models,and the physiochemical constraints,in which the reaction activation energies and pre-exponential factors of reaction rate constants are positive numbers and in the appro-priate ranges,are used to evaluate the kinetics parameters [28–31].The oxygenate kinetics study indicates that the esterification reaction between alcohols and acids can change the original alcohol and acid distribution [12].Therefore,the comprehen-sive kinetics model parameters are optimized by the corrected data,for which esters are converted into the stoichiometric alcohols and acids according to the reverse reaction of esterification as suggested by our previous work [12].The estimated values of the comprehensive kinetics model parameters are listed in Table 4.The high activation energies for the chain growth and product formation suggest that the rate determining step assumptions for the chain growth and the product formation are feasible.B.-T.Teng et al./Applied Catalysis A:General 301(2006)39–5045T a b l e 3S t o i c h i o m e t r i c c o e f fic i e n t s o f t h e m a t r i x f o r F T S r e a c t i o nC o m p o n e n tR e a c t i o n p a t hR e a c t a n t s C O +H 2O C O +3H 22C O +4H 22C O +5H 2...n C O +2n H 2n C O +(2n +1)H 2C O +2H 22C O +4H 22C O +2H 2...m C O +2m H 2m C O +(2m À1)H 2P r o d u c t sC O 2+H 2C H 4+H 2OC 2H 4+2H 2OC 2H 6+2H 2OC n H 2n +n H 2OC n H 2n +2+n H 2OC H 3O HC 2H 5O H +H 2OC 2H 3O O HC m H 2m +2O +(m À1)H 2OC m H 2m O 2+(m À2)H 2OC O À1À1À2À2Àn Àn À1À2À2Àm Àm H 21À3À4À5À2n À(2n +1)À2À4À2À2m À(2m À1)C O 210000000000H 2O À1122n n 00000C H 4010********C 2H 400100000000C 2H 6100...C n H 2n00001000000C n H 2n +200000100000C H 3O H 00000010000C 2H 5O H 00000001000C 2H 3O O H 000000010...C m H 2m +2O 00000000010C m H 2m O 2000000001。
