单选题When using the indirect method for computing cash flow from operating activities, a change in accounts payable will require which of the following? A. A negative (positive) adjustment to net income when accounts payable increases (decreases ). B. A positive (negative) adjustment to net income when accounts payable increases (decreases ). C. A positive adjustment to net income regardless of whether accounts payable increases or decreases.
单选题Under the pure expectations theory, an inverted curve is interpreted as evidence that:
单选题Calculate the average depreciable life:
单选题Deighton Industries has 200000 bonds outstanding. The par value of each corporate bond is $1000, and the current market price of the bonds is $965. Deighton also has 6 million common shares outstanding, with a book value of $35 per share and a market price of $28 per share. At a recent board of directors meeting, Deighton board members decided not to change the company's capital structure in a material way for the future. To calculate the weighted average cost of Deighton's capital, what weights should be assigned to debt and to equity? Debt Equity ①A. 56.55% 43.45% ②B. 48.85% 51.15% ③C. 53.46% 46.54%
单选题Which one of the following combinations represents an accurate classification of security owner options and security issuer options? Security Owner Options Security Issuer Options A. A call provision A prepayment option B. A floor A prepayment option C. A cap An accelerated sinking fund
单选题According to the Global Investment Performance Standards (GIPS): A. firms may not set minimum asset levels for portfolios to be included in a composite. B. composites must be defined according to similar investment objectives and/or strategies. C. terminated portfolio must be excluded in the historical returns of appropriate composites.
单选题Which of the following statements regarding separate trading of
registered interest and principal of securities (STRIPS) is TRUE? A 20-year
Treasury bond can be used as the basis for:
A. 40 coupon strips and 1 principal strip.
B. 40 principal strips and 1 coupon strip.
C. 41 coupon strips.
单选题Lincoln Corporation and Continental Incorporated are identical companies except that Lincoln complies with U. S. Generally Accepted Accounting Principles and Continental complies with International Financial Reporting Standards. Assuming an inflationary environment and stable inventory quantities, which permissible cost flow assumption will minimize each firm" s pre-tax financial income?
Lincoln Corporation Continental Incorporated
①A. Last-in, first-out Last-in, first-out
②B. First-in, first-out Average cost
③C. Last-in, first-out Average cost
单选题Which of the following measures is NOT used as a market environment
technical trading signal?
A. PEG ratio (P/E ratio divided by expected growth rate).
B. Market breadth (advance/decline ratio).
C. Short interest ratio.
单选题Which of the following is TRUE for a price-taker firm in long-run equilibrium when there are no barriers to entry?
单选题Which of the following forms of the EMH assumes that no group of investors has monopolistic access to relevant information?
单选题The unit contribution margin for a product is $12
单选题When an investor can borrow and invest at the risk-free rate, which of the following statements is least likely valid?
单选题The founders of the ABCD Corporation believe their idea for a new weight-loss pill will be tremendously successful. ABCD Corporation is currently seeking venture capitalists to invest in their company so they can do further research and hopefully someday develop their idea into a marketable product. This stage of venture capital investing can best be described as:
单选题An analyst does research about cash flow classification. The initial cash payment for an equity security is considered an investment cash flow. The security is least likely to be classified as: A. held for trading. B. held to maturity. C. available for sale.
单选题Which of the following statements best described the level of accuracy provided by a standard audit report with respect to errors? The audited financial statements are:
单选题Study the following information, calculate the expected rate of return.
index is now selling at $490.
market index multiplier is expected to be 5X.
index earnings is expected to be $100.
dividend payment is expected to be $40.
单选题An analyst's examination of the performance of a company is least likely to include an assessment of a company's:
单选题Which of the following is an example of an arbitrage opportunity? A. A portfolio of two securities that will produce a certain return that is greater than the riskfree rate of interest. B. A stock with the same price as another has a higher rate of return. C. A stock with the same price as another has a higher expected rate of return.
单选题Lynn Moody is an investment officer at the Lester Trust Company (LTC). If a current or former client of LTC has not permitted the disclosure of confidential information and disclosure of clients' confidential information does not conflict with local law, which of the following statements is most accurate? According to the Professional Conduct Standards, a member will breach his duties by disclosing confidential client information that relates to: A. an individual client who ended the client relationship with LTC ten years ago. B. illegal activities on the part of an individual who is a current client of LTC. C. information requested by the CFA Institute Professional Conduct Program during the course of an investigation into that member's conduct by designed officer.