单选题An investor gathered the following information on two zero-coupon bonds: 1-year, $ 800 par, zero-coupon bond valued at $ 762 2-year, $10800 par, zero-coupon bond valued at $ 9796 Given the above information, how much should an investor pay for a $10000 par, 2-year, 8 percent, annual-pay coupon bond?
单选题For analytical purposes, what is the impact on the debt-to-equity if the market rate of interest increases after the bond is issued?
单选题Which of the following statements regarding forward contract dealers is FALSE?
单选题Interest payments, either as part of a coupon payment or to creditors, are always considered which type of cash flow?
单选题Condider a portfolio with two assets
单选题Amato, an island nation, does not have any regulations precluding the
use of non-public information. Darcy has a friend and fellow CFA charter holder
there with whom he has shared nonpublic information regarding firms outside of
her industry. The information concerns several firms' internal earnings and cash
flow projections. The friend may:
A. trade on the information under the laws, which govern her behavior.
B. not trade on the information under CFA Institute Standards, which govern
her behavior.
C. trade on the information under CFA Institute Standards since the firms
concerned are outside of Darcy's industry.
单选题The free-rider problem, an obstacle to efficiency, is most likely associated with:
单选题Given a required yield to maturity of 6 percent, what is the intrinsic value of a semi-annual pay coupon bond with an 8 percent coupon and 15 years remaining until maturity?
单选题A 175-day T-bill has an effective annual yield of 4.5%. Its money-market yield is:
单选题Consider a 25-year, $1000 par semiannual-pay bond with a 7.5% coupon and a 9.25% YTM. Based on a yield change of 50 basis points, the effective duration of the bond is closest to（ ）
单选题You are considering the purchase of a three-year annual coupon bond with a par value of $1000 and a coupon rate of 5.5 percent. You have determined that the spot rate for year 1 is 5.2 percent, the spot rate for year two is 5.5 percent, and the spot rate for year three is 5.7 percent. What would you be willing to pay for the bond now?
单选题All of the following are violations of Standard Ⅲ(B), Fair Dealing, EXCEPT a member（ ）
单选题According to U.S. Generally Accepted Accounting Principles (GAAP) and
International Accounting Standards (IAS) GAAP, should dividends paid be treated
as a cash flow from financing (CFF) or as a cash flow from operations
(CFO)? U.S. GAAP
IAS GAAP ①A. CFO
CFF ②B.
CFF
CFO ③C. CFF
CFF or CFO
A. ①
B. ②
C.③
单选题Which of the following is least likely a property of t-distribution?
单选题At a recent conference, Joe DiSanto and Michael Depasquale were discussing a recent Federal Reserve policy shift that led to an increase in banks' excess reserves. They each offered an explanation as to why this would cause an increase in bank loans and investments:
DiSanto: "Banks are required by law to expand the number of loans they originate when the Fed creates excess reserves. "
Depasquale: "It is risky to hold excess reserves, whereas loans and investments are less risky. "
Are DiSanto and Depasquale's statements correct?
DiSanto Depasquale
①A. Incorrect Incorrect
②B. Correct Incorrect
③C. Incorrect Correct
A. ①B. ②C. ③
单选题An analyst has not paid her CFA Institute dues for several years but has filed a professional conduct statement annually. Which of the following statements is TRUE regarding her status with CFA Institute? The analysts membership is（ ）
单选题The preferred stock of the Delco Investments Company has a par value of $150 and a dividend of $11.50. A shareholder's required return on this stock is 14%. What is the maximum price he would pay? A. $82.14. B. $150.00. C. $54.76.
单选题Which of the following statements regarding financing bond purchases is TRUE? A. In margin transactions, the broker borrows from the bank at the call money rate plus a spread. B. The rate the investor pays on the loan in a margin transaction is known as the call money rate. C. Purchasing securities on margin allows investors to leverage assets and make larger purchases.
单选题Bradley works a 14-hour-per-week job as a bartender at McQuigley's Pub. Maddeline left her position at a commercial bank to raise her two-year old daughter. How would these individuals be classified from the viewpoint of employment statistics?
Bradley Maddeline
①A. Not in labor force Not in labor force
②B. Employed Not in labor force
③C. Employed Employed
A. ①B. ②C. ③
单选题Compared with outcomes that result from collusion, independent action by companies operating in an oligopolistic industry would tend to decrease: