单选题An analyst is serving on the Board of Directors of a local publicly traded company. To avoid violating the CFA Institute Code and Standards, the analyst must disclose this to（ ）
单选题Which of the following statements about hypothesis testing is FALSE? A. The null hypothesis is a statement about the value of a population parameter. B. A Type Ⅱ error is failing to reject a false null hypothesis. C. If the alternative hypothesis is Ha: μ＞μ0, a two - tailed test is appropriate.
单选题A firm has a dividend payout ratio of 30%, a net profit margin of 15%, an asset turnover of 1.4 times, and a financial leverage multiplier of 1.8 times. The firm"s sustainable growth rate is closest to:
单选题With respect to the portfolio management process, asset allocation decisions are made in the:
单选题Asampleof240managedportfolioshasameanannualreturnof0.11andastandarddeviationofreturnsof0.23.Theestimateofthestandarderrorofthesamplemeanisclosestto:
单选题An analyst does research about accrual accounting. The accrued expense account is most likeLy recorded : A. as an asset on the balance sheet. B. on the income statement. C. as a liability on the balance sheet.
单选题Are changes in accounting principles and extraordinary items treated similarly in accordance with U.S. Generally Accepted Accounting Principles and International Financial Reporting Standards?
Accounting principles Extraordinary items
①A. Yes Yes
②B. No No
③C. Yes No
单选题For balance sheet purposes, inventories based on: A. LIFO are preferable to those based on FIFO, as they more closely reflect the current costs. B. weighted average are preferable to those based on FIFO, as they more closely reflect the current costs. C. FIFO are preferable to those based on LIFO, as they more closely reflect current costs.
单选题The company has a target capital structure of 40 percent debt and 60 percent equity.
$1000 par value bonds pay 10 percent coupon (semi-annual payments), mature in 20 years, and sell for $849.54.
The company stock beta is 1.2.
Risk-free rate is 10 percent, and market risk premium is 5 percent.
The companys marginal tax rate is 40 percent.
The weighted average cost of capital (WACC) is closest to（ ）
单选题Wei Zhang has funds on deposit with Iron Range bank. The funds are currently earning 6% interest. If he withdraws $15000 to purchase an automobile, the 6% interest rate can be best thought of as a(n) :
单选题With respect to the cash flow statement, which of the following activities can be presented using both the direct method and the indirect method? A. Operating. B. Investing. C. Financing.
单选题Justin Banks just won the lottery and is trying to decide between the annual cash flow payment option and the lump sum option. Justin can earn 8% at the bank and the annual cash flow option is $ lO0000/year, beginning today for 15 years. What is the annual cash flow option worth to Justin today?
单选题The Management Discussion and Analysis(MD&A) portion of the financial statements: A. is not required by the SEC. B. includes audited disclosures that help explain the information summarized in the financial statements. C. includes such items as discontinued operations, extraordinary items, and other unusual or infrequent events.
单选题What is cash flow from financing?
单选题Corp. stock at a price of $60 per share. Kirk wishes to buy on margin. Assuming the margin requirement is 40 percent, how much money does Kirk have to pay up front to make the purchase?
单选题
Use the following data related
to MCE Corp's inventory to answer
Quarter
Units Purchased
Per Unit Cost
$ Purchases
Unit Sales
Ⅱ
Ⅲ
Ⅳ
80
30
40
20
17
15
1600
510
600
30
50
40 Assume no beginning
inventory. Sales were $4500.
单选题An analyst likes to trade options in her own account. She does not deem any of her client accounts suitable for option trading. When she finds a favorable options position, in accordance to Standard Ⅵ (B) , Priority of Transactions, she should : A. first tell her clients about it before acting herself. B. act on it immediately on behalf of her clients then act on her behalf. C. act on it on her own behalf as she sees fit.
单选题An analyst does research about hedge funds. The returns from hedge funds that contain infrequently traded assets most likely exhibit a downward bias with respect to correlations with: A. both conventional equity returns and conventional fixed income returns. B. conventional equity returns but not with conventional fixed income retums. C. conventional fixed income returns but not with conventional equity returns.
单选题Wes Smith, CFA, has been working toward the completion of a Master of Science in Finance. He has passed all the necessary courses and written the necessary thesis. He still must defend the thesis in one month. Smiths thesis advisor assures him that he will pass the thesis defense. Smith has new business cards printed with M.S. in Finance after his name. This is a violation of（ ）
单选题The opportunity to take advantage of the downward pressure on stock prices that result from end-of-the-year tax selling is known as the: