单选题Gloria Arraria, CFA, is a stock analyst at a large multinational bank trust department. A cash tender offer was announced by a company whose stock was held by Arraria's employer as well as by her sister. Under the terms of the offer, the first million shares tendered would be accepted in full at $45 a share (which was 15% above the existing market) and the next one million shares on a pro rate basis also at $ 45 a share. Arratia immediately called her sister with the news but waited a few days to tender holdings of the trust department. This situation violated Standard:

单选题An international bond investor has gathered the following information on a 10 - year, annualpay U. S. corporate bond: Currently trading at par value Annual coupon of 10% Estimated price if rates increase 50 basis points is 96.99% Estimated price is rates decrease 50 basis points is 103.14% The bond's duration is closest to:

单选题Cure All General Hospital has been forced to fife for bankruptcy protection. The company managing the hospital has been allowed to reorganize under the name United Hospital of Hope. The courts have specified that a new indenture should be written to accompany a planned new bond issue. The issue would have ten years to maturity and carry a 10% coupon that would be paid annually. The new agreement would relieve the company of the obligation to make interest payments during the first five years after the bond is issued. For the remaining five years, regular interest payments would resume. Finally, at maturity, the principal ($1000) plus the interest that was not paid during the first five years would be paid. However, no additional interest would be payable on the deferred interest. If the bond's YTM is 10%, its value is closest to: A. $778.31. B. $813.69. C. $827.54.

单选题Based upon the following information, what is the net Operating income of the property? Estimated Market Value $600000 Capitalization Rate 20% Taxes $27000 Operating Expenses $1137000

单选题An equity forward contract may be on all of the following assets EXCEPTa(n)（ ）

单选题An analyst is investigating the distribution of the SMG stocks return over time. He calculated the mode of 12 percent, the mean of 11 percent, and the median of 11.5 percent. The distribution can be best described as（ ）

单选题An analyst gathered the following information on Roan Mountain Amusement Park: Sales per share = $9.29 Earnings before interest, taxes, depreciation, and amortization (EBITDA) = 65% Interest expense per share = $1.26 Depreciation expense per share = $4.12 Marginal tax rate = 43% Roan Mountain"s expected earnings per share is closest to:

单选题In the long-run, a firm operating under perfect competition will: A. generate zero economic profit. B. face a vertical demand curve. C. become a price-searcher.

单选题An office building with net operating income of $75,000 recently sold for $937,500

单选题If the significance level of a test is 0.1 and the probability of a Type Ⅱ error is 0.4, what is the power of the test?

单选题A central bank can control the money of stock by: Ⅰ. establishing reserve requirements for depository institutions Ⅱ. buying and selling government securities in the open market Ⅲ. setting the interest rate at which it will loan funds to commercial banks and other depository institutions Which of the following is FALSE? A. Ⅰ only. B. Ⅱ only. C. none.

单选题A fund that calculates net asset value by subtracting liabilities from assets and dividing the result by a fixed number of shares is most likely:

单选题An analyst does research about sustainable growth rate and gathers the following information about a company for 2011: ·Net income is $2 000 000 ·Common dividends paid is $900000 ·Average assets is $12000000 ·Average liabilities is $3500000 The company's sustainable growth rate is closest to: A. 9.17% B. 10.59% C. 12.94%

单选题A contract in which one party pays a fixed rate of interest on a notional amount in return for the return on a single stock, paid quarterly for four quarters, is a(n) :

单选题Project X has an internal rate of return (IRR) of 14%. Project Y has an IRR of 17%. Both projects have simple cash flows (all positive after the initial one). Which of the following statements is most likely correct? If the required rate of return is（ ）

单选题For a lognormal distribution, the:

单选题If a consumer is willing to pay $300000 for a house but only has to pay $240000, the $60000 difference is:

单选题A Eurodollar time deposit: A. is priced on a discount basis. B. is a certificate of deposit denominated in Euros. C. may be issued by a Japanese bank.

单选题ConsideranagreementbetweenFranceandGermanythatwillrestrictsteelproductionsothatmaximumeconomicprofitcanberealized.Thepossibleoutcomesoftheagreementarepresentedinthetablebelow.GermanycompliesGermanydefaultsFrancecompliesFrancegets34billion.Francegets14billion.Germanygets33billion.Germanygets45billion.FrancedefaultsFrancegets43billion.Francegets17billion.Germanygets6billion.Germanygets18billion.Basedonthegametheoryframework,themostlikelystrategyfollowedbythetwocountrieswithrespecttowhethertheycomplywithordefaultontheagreementwillbe:A.bothcountrieswilldefault.B.bothcountrieswillcomply.C.onecountrywilldefaultandtheotherwillcomply.

单选题Which of the following statements regarding Eurodollar time deposits is FALSE?