单选题Consider two markets: One has a Herfindahl-Hirschman Index (HHI) of
300, while the other has a four-firm concentration ratio equal to 15%. Which of
the following statements most accurately describes these two markets?
A. Both markets are highly competitive.
B. The market with the HHI equal to 300 is very competitive, while the other
market has a low degree of competition.
C. The market with the HHI equal to 300 has a low degree of competition,
while the other market is highly competitive.
单选题Compared with fundamental analysis, does technical analysis place more emphasis on: A company's financial Determining the effects of specific events accounting statements? on the value of a company's stock? A. No Yes
B. No No
C. Yes No
单选题When market rates were 6 percent an analyst observed a $1000 par value callable bond selling for $ 950. At the same time the analyst also observed an identical non-callable bond selling for $ 980. What would the analyst estimate the value of the call option on the callable bond to be worth ?
单选题The bank discount yield for a $1000 face value U. S. Treasury bill (T-bill) trading at $ 983.10 with 160 days to maturity is approximately:
单选题Calculate the average age of the fixed assets:
单选题All else equal, a firm will have a higher Price-to-Earnings (P/E) multiple if:
单选题
It is April 15, and a trader is entered into a short
position in two soybean meal futures contracts. The contracts expire on August
15, and call for the delivery of 100 tons of soybean meal each. Further, because
this is a futures position, it requires the posting of a $3000 initial margin
and a $1500 maintenance margin per contract. For simplicity, however, assume
that the account is marked to market on a monthly basis. Assume the following
represent the contract delivery prices (in dollars per ton) that prevail on each
settlement date:
April 15 (initiation)
May 15
June 15
July 15
August 15 (delivery)
173.00
179.75
189.00
182.50
174.25
单选题An analyst gathers the following information about a company"s common stock:
●1 January 2009 180000 shares outstanding
●1 June 2009 60000 shares issued
●1 August 2009 2-for-1 stock split
●31 December 2009 480000 shares outstanding
To calculate earnings per share for 2009, the company"s weighted average number of shares outstanding is closest:
单选题Noor Mawar, CFA, manages a trust fund with the beneficiary being an orphaned 18-year-old student
单选题Under U. S. GAAP, which of the following statements about classifying cash flows is least accurate? A. Cash received from issuing long-term debt and stock is considered a financing cash flow. B. Changes in working capital accounts are included in cash flow from operating activities. C. Dividend payments made are financing cash flows, while interest payments received are investing cash flows.
单选题A cell phone manufacturer has switched to high margin premium-priced products with the most innovative features as part of its product differentiation strategy
单选题By bee is expected to have a temporary supernormal growth period and then level off to a "normal," sustainable growth rate forever. The supernormal growth is expected to be 25 percent for 2 years, 20 percent for one year and then level off to a normal growth rate of 8 percent forever. The market requires a 14 percent return on the company and the company last paid a $2.00 dividend. What would the market be willing to pay for the stock today?
单选题The following ten observations are a sample drawn from a normal population: 25,20,18, -5,35, 21, -11,8,20, and 9
单选题For markets with perfectly elastic supply, the introduction of a tax will most likely result in: A. a price increase and the seller pays the entire tax. B. a price increase and the buyer pays the entire tax. C. no change in price and the seller pays the entire tax.
单选题Consider the following 20 items
单选题Given a 5 percent discount rate, the present value of $ 500 to be
received three years from today is :
A. $ 432.
B. $ 400.
C. $ 452.
单选题Which of the following statements about the constant growth dividend discount model (DDM) in its application to investment analysis is FALSE? The model:
单选题The internal rate of return (IRR) method and net present value (NPV) method of project selection will always provide the same accept or reject decision when: A. the projects are mutually exclusive. B. the projects are independent. C. the projects terminate within five years.
单选题Price discrimination is most accurately defined by which of the following? Price discrimination is the practice of charging different consumers different prices for: A. similar products that have identical per-unit production costs. B. products that have identical price elasticities of demand. C. the same product or service.
单选题Given the following data what is the correlation coefficient between the two stocks and the Beta of stock A?
standard deviation of returns of Stock A is 10.04 percent
standard deviation of returns of Stock B is 2.05 percent
standard deviation of the market is 3.01 percent
covariance between the two stocks is 0.00109
covariance between the market and stock A is 0.002
Correlation Coefficient Beta ( stock A)
①A. 0.6556 0.06
②B. 0.5296 0.06
③C. O.5296 2.2
A. ①B. ②C. ③