单选题The Financial Accounting Standards Board's (FASB's) approach in establishing GAAP is best described as: A. rules based. B. principles based. C. objective oriented.
单选题International Accounting Standard (IAS) No.1 least likely requires which of the following?
单选题Consider the following statements: Statement 1: "The kinked demand curve model of oligopoly assumes that a decrease in price will not be followed by other firms in the industry, but a price increase will. " Statement 2: "Finns in monopolistic competition have high advertising expenses because they want to create the perception that their product is different from their competitors' products when the competing products are actually quite similar. " Which of the following best describes the accuracy of these statements? Statement 1 Statement 2 ①A. Correct Incorrect ②B. Incorrect Correct ③C. Correct Correct
单选题An analyst, who is a CFA Institute member, manages a high-grade bond mutual fund. This is his only professional responsibility. When the analyst comes across a speculative stock investment that he feels is a good investment for his personal portfolio, the analyst: A. may invest in the stock because the analyst would not purchase the stock for the bond portfolio he manages. B. may not invest in the stock because of his position as a portfolio manager. C. is in violation of Standard Ⅳ (A), Loyalty to Employer, by spending time analyzing stocks when he should only analyze bonds.
单选题A stockbroker who is a CFA Institute member is called on the telephone by the CEO of a large company. The CEO asks to buy shares of the CEO's company for the accounts of the CEO's children. In the course of the conversation, the CEO says this will really pay off when the upcoming takeover goes through. The stockbroker checks her sources and finds no information about the takeover. In this ease the broker should: A. only execute the order in compliance with Standard Ⅲ (A), Loyalty, Prudence, and Care. Since the client is buying the stock for the children, there is not a problem. B. execute the order for all clients as required by Standard Ⅲ (B), Fair Dealing. C. do none of the actions listed here.
单选题A firm is choosing among three short-term investment securities: Security 1 - A 30 - day U. S. Treasury bill with a discount yield of 3.6%. Security 2 - A 30 - day banker's acceptance selling at 99.65% of face value. Security 3 - A 30 - day time deposit with a bond equivalent yield of 3.65%. Based only on these securities' yields, the firm would:
单选题An investor holds a portfolio of two stocks, ABC Inc. , and XYZ Corp, and is considering adding the stock of New Company to her portfolio. For diversification purposes, the most important factor for her considers where making this decision is: A. new Company's expected return relative to the of ABC and XYZ. B. the average covariance of New Company's returns with the returns of ABC and XYZ. C. the total variance of New Company's returns relative to the variance of returns for ABC and XYZ.
单选题High Plains Capital is a hedge fund with a portfolio valued at $475,000,000 at the beginning of the year
单选题Price compression: A. occurs when a bond's cap and floor are set close together. B. occurs when demand for a bond is high near the first call date. C. reduces the potential for price appreciation and benefits the issuer.
单选题The following 10 observations are a sample drawn from a normal population: 25,20,18, -5,35,21,-11,8,20, and 9
单选题Product differentiation is the greatest source of market power for which of the following market structures ?
单选题Which of the following statements about balancing reinvestment risk and price risk is TRUE? When interest rates: A. decline, price risk decreases and reinvestment risk decreases. B. rise, price risk increases and reinvestment risk increases. C. decline, price risk decreases and reinvestment risk increases.
单选题An analyst does research about corporate governance. A company's board is most likely to act in the best interests of share owners if: A. a majority of the board members are independent. B. members of the board have served for a long time. C. the hiring of outside consultants by the board requires management approval.
单选题An analyst prepares common-size balance sheets for two countries operating in the same industry. The analyst notes that both companies had the same proportion of current liabilities, long-term liabilities, and shareholders" equity and the following ratios:
Company A Company B
current ratio 2.0 2.0
cash ratio 0.3 0.3
quick ratio 0.5 0.8
The most reasonable conclusion is that, compared with Company B, Company A had a:
单选题Use the results from the following survey of 500 firms to answer the
question.
Number of Employees
Frequency
300 up to 400
40
400 up to 500
62
500 up to 600
78
600 up to 700
101
700 up t0 800
131
800 up to 900
88 The width of
each interval (class) for this frequency table is:
A. 50.
B. 101.
C. 100.
单选题Hay farmers are in a perfectly competitive market. Assume that each
acre of land produces 100 bushels of hay. The marginal revenue product of an
acre of land is then:
A. (price of hay per bushel)/100.
B. price of hay per bushel.
C. 100 × (price of hay per bushel).
单选题An analyst has gathered monthly returns for two stock indexes A and B:
month
returns for Index A
returns for Index B
1
2
3
4
-6.4%
6.6%
12. 9%
3.2%
-6.2%
19.0%
-7.7%
4.0%
The covariance between Index A and Index B is closest to:
单选题A firm operating under perfect competition will experience economic
losses when which of the following conditions exists?
A. Marginal revenue is greater than average total cost.
B. Market price is less than average total cost.
C. Marginal cost = average total cost = marginal revenue = price.
单选题An analyst does research about revenue recognition in special cases and gathers the following information about a construction contract which will be completed in 5 years: ·Total contract sales price is $24,000000 ·Estimated total cost is $12000000 ·Costs incurred in year 1 is $4000000 ·Costs incurred in year 2 is $6000000 Under percentage-of-completion method, revenue recognized in Year 2 is closest to : A. $0 B. $8000000 C. $12000000
单选题An analyst does research about the basic theories of the term structure. According to liquidity preference theory, the term structure of interest rates is least likely determined by: A. expectations about future interest rates. B. a yield premium for interest rate risk. C. preference for particular maturity range.