单选题The level of diversification benefits available from investing internationally is determined by the:
单选题Some forward contracts are termed cash settlement contracts. This means:
单选题Which of the following is NOT an advantage of exchange traded funds (ETFs) over traditional mutual funds? A. ETF shares trade throughout the day at continuously updated prices, while open-end funds trade only once a day at close-of-market prices. B. The exposure to capital gains taxes is lower for ETFs than for open-end funds. C. ETF shares have smaller bid-ask spreads than open-end mutual funds.
单选题When the market value of an investment in a debt security is less than its carrying value, how should the investor report the investment on the balance sheet if the security is classified as held-to-maturity and what amount should be reported if the security is classified as available-for-sale? Held-to-maturity Available-for-sale ①A. Amortized cost Amortized cost ②B. Fair value Fair value ③C. Amortized cost Fair value
单选题The market portfolio is:
A. a completely diversified portfolio, which means that most of the risk
unique to individual assets in the portfolio is diversified away.
B. a portfolio in which both systematic and unsystematic risk has been
diversified away.
C. a completely diversified portfolio, which means that all the risk unique
to individual assets in the portfolio is diversified away.
单选题The investment policy statement is important to investors because: A. it assures them that they will get the return they desire. B. it helps them understand the risk-return tradeoff of their investment plan. C. it helps investors understand financial markets.
单选题An analyst does research about European option. An investor purchases a European put option with an exercise price of $38.60. If the stock price at expiration is $25.34 and the dividend yield is 3.5%, the payoff per share is closest to: A. $11.91 B. $13.26 C. $14.61
单选题Darlene Villanueva provides analytical support for portfolio managers at a small investment management firm. Villanueva's latest report highlights two companies. Company A and Company B. Company A has consistently earned a higher rate of return on assets than their cost of capital, but the stock price is substantially greater than the fair value. Company B's earnings have been pulled down by the recent economic slowdown, but its stock price has remained stable despite the negative returns on the overall market. Which of the following statements correctly categorizes the two companies? A. Stock A is a growth stock and Company B is a cyclical company. B. Company A is a growth company and Stock B is a defensive stock. C. Company A is a value company and Stock B is a cyclical stock.
单选题A customized agreement to purchase a certain T-bond next Thursday for $1000 is:
单选题If two events, A and B, are independent and the probability of A does not equal the probability of B (i
单选题
某银行正在考虑购进一套软件系统，采购成本为250万美元。假设必要回报率为15%，第一年的现金流为200万美元，第二年的现金流为150万美元。
试根据上述条件解答问题。
单选题The long-run production decision differs from the short-run production
decision in that:
A. variable costs can be changed in the short run but not the long
run.
B. variable costs can be changed in the long run but not the short
run.
C. fixed costs can be changed" in the long run but not the short
run.
单选题The natural rate of unemployment exists when: A. the economy operates below full employment. B. the economy operates at full employment. C. frictional unemployment is zero.
单选题Which of the following statements concerning the current yield is CORRECT? It: A. is of great interest to conservative bond investors seeking current income. B. is of great interest to aggressive bond investors seeking capital gains. C. shows the rate of return an investor will receive by holding a bond to maturity.
单选题An analyst does research about measurement of financial assets. An appreciated marketable security carried at fair market value with unrealized gain or loss in comprehensive income is most likely classified as: A. held for trading. B. held to maturity. C. available for sale.
单选题An investor owns a stock portfolio that closely follows the Standard & Poor's 500 Index (S&P500). He purchases one S&P500 stock index put option. The investor's position is now portfolio insurance with the following characteristics: Portfolio position: LONG S&P500 Portfolio purchase price: 1427.21 Option position: LONG 1 put option Underlying asset: S&P 500 Index Exercise price : 1225 Premium : 3 Expiration date : November If the expiration-day price of S&P500 were 1200, then the expiration-day profit/loss for the portfolio insurance would be:
单选题The capital budgeting director of Green Manufacturing is evaluating a laser imaging project with the following characteristics: Cost: $150000 Expected life: 3 years After-tax cash flows: $ 60317 per year Salvage value : $ 0 If Green Manufacturing's cost of capital is 11.5 percent, what is the project's internal rate of return (IRR) ?
单选题Consider a $ 1000 - face value, 12 - year, 8% , semiannual coupon bond with a YTM of 10.45%. The change in value for a decrease in yield of 38 basis points is:
单选题Which of the following is NOT a type of unemployment?
单选题Support for the revenue bonds comes from: A. property taxes based on the project. B. the gross revenues of the underlying project. C. the net revenues of the underlying project.