单选题Are the following two statements about the marginal revenue
product (MRP) of a factor of production correct?
Statement 1: In a price taker market, the MRP of an input is the marginal
product of the input multiplied by the price of the output it
generates. Statement 2: If we compare any two productive
inputs, the one with the higher MRP will earn greater economic rent.
Statement 1
Statement 2 ①A. Correct
Correct ②B. Incorrect
Correct ③C.
Correct Incorrect
A. ①
B. ②
C. ③
单选题Sheria, CFA, just joined an investment firm and reports directly to Raymond, who heads the department dealing with advisory service to high net worth individuals. To fulfill her duty of informing her employer about following AIMR Code of Ethics and Standards of Professional Conduct, Sheria must inform: A. the firm's chief executive officer either orally or in writing. B. her direct supervisor orally about AIMR's requirements. C. her direct supervisor in writing about AIMR's requirements.
单选题Given the following information for a country, what is the labor force
participation rate?
Total civilian population 16 and over
210
Those not in the labor force
50
Unemployed
8
Employed
152
A. 95%.
B. 72%.
C. 76%.
单选题An analyst gathered the following data about a company:
单选题Assume that 45% of candidates who sit for CFA examination pass it the first time in China. Of a random sample of 30 candidates in China who are sitting for the exam for the first time, what is the expected number of candidates that will pass?
单选题If the price of a commodity futures contract is below the spot price, it is most likely that the:
单选题According to CFA Institute Standards of Professional Conduct, members must preserve the confidentiality of information received from a client unless（ ）
单选题Elise Corrs, hedge fund manager and avid downhill skier, was recently granted permission to take a 4 month sabbatical. During the sabbatical, (scheduled to start in 11 months), Corrs will ski at approximately 12 resorts located in the Austrian, Italian, and Swiss Alps. Corrs estimates that she will need $ 6000 at the beginning of each month for expenses that month. (She has already financed her initial travel and equipment costs. ) Her financial planner estimates that she will earn an annual rate of 8.5 percent during her savings period and an annual rate of return during her sabbatical of 9.5 percent. How much does she need to put in her savings account at the end of each month for the next 11 months to ensure the cash flow she needs over her sabbatical? Each month, Cons should save approximately:
单选题An investment management firm, Derriot Inc., was recently audited by
the United States Securities and Exchange Commission (SEC). Derriot included the
following statement in its performance presentation report: "This report has
been verified as GIPS compliant by Derriot's Compliance Department and the
United States Securities and Exchange Commission." Does this constitute
acceptable verification under GIPS?
A. No, only one party may perform GIPS verification.
B. No, neither party involved in the audit constitutes an acceptable GIPS
verification.
C. Yes, because an audit was performed implicitly by the SEC and explicitly
by the firm's internal audit team.
单选题If a stocks continuously compounded return is normally distributed, then the distribution of the future stock price is best described as being:
单选题Do "margin" in the stock market and "margin" in the futures market, respectively, mean that an investor has received a loan that reduces the amount of his own money required to complete the transaction?
"Margin" in the stock market "Margin" in the futures market
①A. No No
②B. No Yes
③C. Yes No
单选题Which of the following statements is FALSE? A. A deferred tax asset results when pretax income exceeds taxable income. B. Taxable income is a term used for tax reporting, while pretax income is used with financial reporting. C. When a deferred tax liability reverses, it means that a cash outflow for taxes is occurring.
单选题Paul Ostrowski, CFA, is a well-known economist working of local government and does research about unemployment. Which of the following types of unemployment are included in the natural unemployment rate? A. Structural and cyclical. B. Cyclical and frictional. C. Frictional and structural.
单选题Assume an option free 5 percent coupon bond with annual coupon payments has two years remaining to maturity
单选题The Big Fund is a mutual fund that invests primarily in the equity of pharmaceutical companies. The investment style of the Big Fund can best be classified as a:
单选题Which of the following is NOT a source of adverse effects of inflation
on an economy? Inflation:
A. distorts the information delivered by prices.
B. affects product prices without changing underlying resource prices, such
as wages, in the long run.
C. increases the uncertainty accompanying investment and other activities
involving future payments.
单选题Most research indicates that there is, at best, only a weak relationship between budget deficits and interest rates; higher deficits may simply be matched by high savings. This statement most closely reflects which one of the following views of fiscal policy?
单选题The steeper a firm's marginal revenue product curve for a given resource, the: A. more elastic the firm's demand curve for the resource. B. less elastic the firm's demand curve for the resource. C. higher the mobility of the resource.
单选题Which of the following statements describes the overall conclusions
regarding the weak-form of the efficient market hypothesis (EMH)?
A. All evidence indicates that simple trading rules generate positive
abnormal returns.
B. Stock exchange specialists using monopolistic information contained in
the limit order book derive above average returns.
C. Most evidence indicates that after incorporating trading costs, simple
trading rules do not generate positive abnormal profits.
单选题Capital Corp.'s activities in the year 2005 included the following: At the beginning of the year, Capital purchased a cargo plane from Aviation Partners for $10 million in a transaction consisting of $ 2 million cash, $ 3 million in Capital Corp. bonds and $ 5 million in Capital Corp. preferred stock. Interest of $150000 was paid on the bonds, and dividends of $ 250000 were paid on the preferred stock. At the end of the year, the cargo plane was sold for $12000000 cash to Standard Company. Proceeds from the sale were used to pay off the $ 3 million in bonds held by Aviation Partners. On Capital Corp.'s Statement of Cash Flow for the year ended December 31, 2005, cash flow from investments (CFI) related to the above activities is: