单选题Is an option-free bonds price sensitivity positively correlated with the（ ）
单选题On the cash flow statement, the payment of cash dividends during the year will most likely affect the cash flow from:
单选题Whichofthefollowingstatementsbestdescribeschangesinthevalueofalongforwardpositionduringitslife?
单选题A natural monopoly is most likely to exist when: A. ATC increases as output increases. B. economies of scale are great. C. all production is divided up between just a few firms.
单选题An investor taking a long position in commodity futures while simultaneously investing in government securities has created a: A. Collateralized Commodity future position. B. Commodity-linked equity. C. Managed Commodity future portfolio.
单选题An analyst gathered the following information about a company:
Net profit margin 5.0%
Total asset turnover 2.0
Total assets/equity 2.5
Beta for the company"s stock 1.5
Expected rate of return on the market index 10.0%
Risk-free rate of return 5.0%
The analyst expects the information above to accurately reflect the future. If the company wants to achieve a growth rate of at least 15% without changing its capital structure or issuing new equity, the maximum dividend payout ratio for the company would be closest to:
单选题Alex, CFA, is a portfolio manager at OLC Asset Manager, which specializes in managing labor union pension fund accounts. A friend of Alex"s who is an investment banker asks Alex to purchase shares in their new IPOs in order to support the price long enough for insiders to liquidate their holdings. Alex realizes that the price of the shares will almost certainly fall dramatically after his buying support ceases. DLC management "strongly suggest" that Alex "not rock the boat" and honor the investment banker"s request since DLC has had a long-standing relationship with the investment bank. Alex agrees to make the purchase. Which of the following statements is most likely to be correct?
单选题Which of the following statements about swap agreements is FALSE?
单选题Which of the following is NOT a service provided by an underwriter in
the primary market?
A. Origination.
B. Risk Bearing.
C. Diversification.
单选题Compared to classifying a lease as a financing lease, if a lessee reports the lease as an operating lease it will most likely result in a:
单选题An analyst does research about cash flow statement and learns a company which issued a significant amount of common stock in exchange for inventory. With respect to the cash flow statement, this transaction is most likely reportedas: A. investing activity only. B. financing activity only. C. in a separate note or supplementary schedule.
单选题The Camden Company has just leased the following piece of equipment: Market value of $ 200000. Useful life of 5 years with no salvage value. Lease term is 4 years. Annual lease payment is $ 30000 and the lease rate is 11%. The company's overall borrowing rate is 9.5%. The firm can purchase the equipment at the end of the lease period for $ 45000. What amount should be recorded on lessee's balance sheet?
单选题An analyst does research about cash conversion cycle and gathers the following information about a company: 2012 2011 2010 Days of inventory on hand 35 25 30 Days sales outstanding 40 45 45 Days of payables 40 35 40 Analyzing the cash conversion cycle, the company's liquidity has most likely: A. decreased. B. remained unchanged. C. increased.
单选题The vertical distance between the average variable cost (AVC) curve and the average cost (AC) curve:
单选题A 12% semiannual-pay coupon bond has 1.5 years to maturity. The bond is currently trading at par. Using a 100 basis point change in yield, what is the effective duration of the bond?
单选题Compared with the net present value (NPV) method, the internal rate of return (IRR) method of evaluating investment projects: A. is the preferred method for evaluating mutually exclusive projects. B. is not sensitive to the pattern or timing of the cash flows from the period. C. assumes that all cash flows from the project will be reinvested at the computed IRR.
单选题Which of the following is most likely a private equity strategy?
单选题The following information is available for a firm:
evenue
￡800,000
Variable cost
400,000
Fixed cost
200,000
Operating income
200,000
Interest
60,000
Net income
140,000
The firms degree of total leverage (DTL) is closestto:
单选题The current price of XYZ Inc, is $40 per share with 1000 shares of equity outstanding. Sales are $4000 and the book value of the firm is $10000. What is the price/sales ratio of XYZ, Inc.
单选题During periods of rising prices :
A. LIFO Gross Profit Margin ＞ FIFO Gross Profit Margin.
B. LIFO Current ratio ＞ FIFO Current Ratio.
C. LIFO Debt to Equity Ratio ＞ FIFO Debt to Equity Ratio.