单选题Consider the following set of stock returns: 12%, 23%, 27%, 10%, 7%, 20%, 15%. The third quartile is:

单选题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 0.75 Based on the capital asset pricing model (CAPM), JKU is most likely:

单选题With respect to the units each is measured in, which of the following is the most easily directly applicable measure of dispersion? The:

单选题Which of the following statements best describes automatic stabilizers? Although no legislative action has been taken, automatic stabilizers are programs that apply: A. restraint during a recession and stimulus during an economic boom. B. restraint during a recession but do not apply stimulus during an economic boom. C. stimulus during a recession and restraint during an economic boom.

单选题According to the crowding-out effect, which of the following statements is least likely correct? The sale of government bonds used to finance excess government spending will: A. raise the real interest rate. B. raise the nominal interest rate. C. increase the profitability of corporate investment projects.

单选题Which of the following statements describing options is false? A. A put option gives its holder the right to sell an asset for a specified price on or before the option's expiration date. B. A call option will be exercised only if the market value of the underlying asset is more than the exercise price. C. A put option's profit increases when the value of the underlying asset increases.

单选题The following data are available for a companys first year of operations: The companys end-of-year balance sheet will most likely include (in thousands) a deferred tax

单选题A publicly listed company has a 12-person board of directors whose composition is as follows: · The chairman, who is the past president of the company and was named Chairman upon his retirement four years ago. · Five members of senior management, including the current president. · Six outside directors. Each member is elected for a two-year term and one-half of the positions stand for election every year. The three members of the audit committee are all outside directors and have relevant financial experience. The remuneration committee is composed of the chairman and two outside directors. Which of the following actions would provide the greatest improvement in the corporate governance of this company? A. The chairman of the board should be an independent director. B. All members of the board of directors should stand for election every year. C. The company's vice president of finance should be a member of the audit committee.

单选题Lisa Hajak, CFA, specialized in research on real estate companies at Cornerstone Country Bank for 20 years

单选题A portfolio manager enters into an equity swap with a swap dealer

单选题When examining a firm's ownership structure, it is imperative to examine any super-voting rights by certain classes of shareholders. Which of the following statements concerning these voting rights is TRUE? A. Super-voting rights by certain classes of shareholders impair the firm's ability to raise capital for the future. B. Firms with a single class of common equity could encourage prospective acquirers to only deal directly with shareholders with the supermajority rights. C. Firms that combine voting rights with economic rights have historically had more difficulty raising equity to invest in capital improvements.

单选题The risk-free interest rate is 5 percent, and the return on market portfolio is 8 percent. A stock with a beta of 0. 5 that has an estimated rate of return of 7 percent is most likely:

单选题If $2000 a year is invested at the end of each of the next 45 years in a retirement account yielding 8.5 percent, how much will an investor have at retirement 45 years from today?

单选题One year ago, an investor purchased a 10-year, $1000 par value, 8% semiannual coupon bond with an 8% yield to maturity. Now, one year later, interest rates remain unchanged at 8%. If the investor sells the bond today (immediately after receiving the second coupon payment, and with no transaction costs) he will have a capital:

单选题Velma and Daphne Productions is estimating the weighted average cost of capital (WACC). They have several pieces of data to consider. The firm pays 60 percent of its earnings out in dividends. The return on equity (ROE) is 16 percent. Last year's earnings were $4.00 per share and the dividend was just paid to shareholders. The current price of shares is $35.00. If the firm must issue new shares of common stock, they must pay a flotation cost to the investment bankers of 6 percent. The firm's optimal capital structure includes 10 percent preferred stock, 40 percent debt and 50 percent equity. They can sell additional bonds at a rate of 9 percent. The cost of issuing new preferred stock is 13 percent. The firm's marginal tax rate is 40 percent. The cost of issuing retained earnings and new common shares is closest to : Cost of retained earnings Cost of new common stock ①A. 13.3% 13.7% ②B. 13.7% 14.2% ③C. 13.3% 14.2%

单选题Of the following types of firm, which is most suitable for P/B ratio analysis? A. A service industry firm without significant fixed assets. B. A firm with accounting standards consistent to other firms. C. A firm with accounting standards different from other firms.

单选题When an unreliable estimate of costs exists and ultimate payment is assured, which of the following revenue recognition methods should be used?

单选题Most deliverable futures contracts are settled by: A. a cash payment at expiration. B. an offsetting trade. C. delivery of the asset at contract expiration.

单选题A minimum wage is an example of which of the following? A. A price ceiling. B. A quota. C. A price floor.

单选题Long-run aggregate supply is least likely to be affected by changes in the: A. the stock of physic capital. B. the supply of natural resources. C. the wage rate of labor.