单选题Which of the following is least likely a tool used by the U
单选题Themarketpriceofacompanysstockis$5persharewith50millionsharesoutstanding.Thecompanydecidestouseitscashreservestoundertakea$10millionsharebuyback.Justpriortothebuyback,thecompanyreportstotalassetsof$650millionandtotalliabilitiesof$450million.Thecompanysbookvaluepershareafterthesharebuybackisclosestto:
单选题The term (maturity) of a forward rate agreement is 90 days and the underlying rate is 180 - day LIBOR. If 180-day LIBOR increases over the term (life) of the contract, which of the following best describes the descriptive notation for the contract and the party receiving payment at expiration, respectively?
Descriptive notation Party receiving payment at expiration
①A. 3 × 6 Long
②B. 3 × 9 Long
③C. 3 × 6 Short
单选题An analyst preparing a report does NOT need to cite the use of which of the following? A. Charts developed by a colleague in the same firm. B. A recent quote from Alan Greenspan. C. Estimates of betas provided by Standard ＆ Poor's.
单选题Hedge funds that contain infrequently traded assets would most likely exhibit a downward bias with respect to: A. Measured risk but not correlations with conventional equity investments. B. Correlations with conventional equity investments but not measured risk C. Both measured risk and correlations with conventional equity investments.
单选题An analyst does research about cost of capital and gathers the following information about a company's preferred stock. The preferred stock is nonconvertible, noncallable, and has a fixed dividend rate with no maturity date : ·3 million shares outstanding ·The par value per share is $15 ·Total market value is $39 million ·Earnings per share is $2.1 ·Annual dividend per share is $0.8 ·Company's marginal tax rate is 30%。 The cost of preferred stock is closest to: A. 4.31% B. 5.33% C. 6.15%
单选题A defensive stock is best characterized as: A. having low systematic risk. B. generally retaining a large portion of earnings. C. usually having an active rather than passive dividend policy.
单选题The preferred shares of GMZ pay a $ 3.25 dividend. These shares have a beta of 0.50, the risk- free rate is 4% , and the expected return on the market is 9%. What is the value of the preferred shares?
单选题A short position in a forward rate agreement is equivalent to:
单选题Bob Hatfield, CFA, has his own money management firm with two clients.
The accounts of the two clients are equal in value. Hatfield has been trading on
the clients' behalf with a single brokerage firm for several years. Because of
his many years of business, the brokerage firm occasionally gives Hatfield
shares in an initial public offering (IPO) to sell to his clients. Hatfield has
a policy of allocating the IPO shares equally between the portfolios of the two
clients. This policy is :
A. congruent with Standard Ⅲ (C), Suitability. B. a violation
of Standard Ⅲ (C), Suitability.
C. a violation of Standard Ⅲ
B. , Fair Dealing.
单选题When a firm is earning positive economic profits in a monopolistic competitive market, what will most likely occur?
单选题The advantages to an investor owning convertible preference shares of a company most likely include:
单选题Do Treasury inflation protection securities (TIPS) issued by the U. S. Department of the Treasury have: Fixed par values? Fixed coupon Payment amounts? A. No No
B. No Yes
C. Yes No
单选题An analyst does research about security market indices. The number of freely floating share available is component of which of the following index weighting schemes? A. Fundamental weighting. B. Price weighting. C. Market-capitalization weighting.
单选题A normal distribution can be completely described by its:
A. mean and variance.
B. skewness and kurtosis.
C. mean and mode.
单选题Dilshan Kumar, CFA, is a world-renowned mining analyst based in London
单选题The arithmetic and geometric mean are calculated for the same datA
单选题A companys $100 par value preferred stock with a dividend rate of 9
单选题The modified duration of a bond is 6.45. The percentage change in price using duration for a yield decrease of 50 basis points is closest to:
单选题McQueen Corporation prepared the following common-size income statement for the year ended December 31, 20X7: