单选题Credit spreads are most likely to narrow during:
单选题Which of the following statements is most accurate with respect to financial reporting requirements?
单选题Which of the following is NOT a determinant of the expected price/earnings (P/E) ratio?
单选题An analyst obtains the following annual returns for a group of stocks:
10%, 8% ,7% ,9% , 10%, 12%,11%,10%,30%, and 13%. This:
A. distribution has a median greater than its mode.
B. distribution's arithmetic mean is 12 and the median is 10.5.
C. distribution is skewed to the right and the mean is greater than the
mode.
单选题A company has a "0" earnings retention rate, the firm's P/E ratio will equal: A. 1/k. B. D/P+g. C. k+g.
单选题Given the following assumptions about a company's financial estimates, calculate the P/E ratio, and determine whether the stock is undervalued or overvalued. Earnings retention rate at 40% Required rate of return of 12.5% Return on equity (ROE) of 11% , expected to remain constant Estimated earnings per share (EPS) for next year of $ 2.75 Current market price of $ 23.70 Which of the following statements is most correct? The P/E ratio is: A. 7.41 and the stock is overpriced. B. 7.41 and the stock is underpriced. C. 7.41 and the stock is properly priced.
单选题An analyst does research about inventory methods. A company with no initial inventory on hand made the following purchases of inventory in 2011: Period Number of Units Price Per Unit 1 7000 $76 9 10100 $80 3 8000 $91 At the end of 2011, the company had 5000 units of inventory on hand. Under a periodic inventory system, ending inventory using the weighted average cost method is closest to: A. $43000 less than using the FIFO method. B. $32000 more than using the FIFO method. C. $43000 more than using the FIFO method.
单选题If a stock is selling for $25, the exercise price of a put option on that stock is $20, and the time to expiration of the option is 90 days, the minimum and maximum prices for the put today are :
单选题Given that a put on a stock with a strike price of $ 60 is priced at $ 5 per share, while a call with a strike price of $ 60 is priced at $ 8. Find out the maximum per share loss and the maximum per share gain to the writer: Maximum loss to put writer Maximum gain to the call writer A. $55 $8 B. $52 $6 C. $52 $8
单选题The Central Limit Theorem states that, for any distribution, as n gets larger, the sampling distribution:
单选题A broker was sanctioned for unsuitable recommendations and excessive trading involving three accounts under his care. These clients were unsophisticated, inexperienced individual investors with limited means. According to CFA Institute Standard Ⅲ (C) , Suitability, which of the following is least likely to be considered a relevant factor in determining the appropriateness and suitability of investment recommendations or actions for each portfolio or client? A. Best interests of the investment professional. B. Basic characteristics of the total portfolio. C. Basic characteristics of the investment involved.
单选题Assume that an option-free 5 percent coupon bond with annual coupon payments has two years to maturity. A callable bond that is the same in every respect as the option-free bond is priced at 91.76. With the term structure flat at 6 percent, what is the value of the embedded call option?
单选题Two parties agree to a forward contract to deliver the S&P 500 Index at a price of $375000 in 2 months time. When the forward contract expires, the price of the S&P 500 Index is $350000 but the long party is unable to pay the cash settlement. The short party is most likely obligated to:
单选题Bill Adams wants to diversify his portfolio by adding certain assets that he expects to lower the overall standard deviation of his portfolio. After selecting several different asset classes. Adams constructed an efficient frontier using various combinations of the assets. Adams can choose a portfolio on the efficient frontier and achieve a diversified investment assuming all of the following assumptions are true, EXCEPT: A. investors believe all investments are represented by a probability distribution of expected returns and seek diversification based on the variability of expected returns. B. investors base investment decisions solely on the expected risk of the investment. C. investor utility curves exhibit diminishing marginal utility of wealth.
单选题With respect to liquidity management, which of the following is most likely a primary source of liquidity? A. Trade credit from vendors. B. Renegotiating debt contracts. C. Filing for bankruptcy protection and reorganization.
单选题A portfolio manager adds a new stock that has the same standard
deviation of returns as the existing portfolio but has a correlation coefficient
with the existing portfolio that is less than +1. Adding this
stock will have what effect on the standard deviation of the revised portfolio's
returns? The standard deviation will:
A. increase.
B. remain unchanged.
C. decrease.
单选题
Use a stated rate of 9 percent compounded
periodically to answer the following three questions. Select the choice that is
the closest to the correct answer.
单选题 两个投资项目(项目A和项目B)的相关数据如下表所示，且两项目的必要回报率均为14%。试根据这些条件解答问题。
{{B}}项目A和项目B的相关数据{{/B}}
项目A
项目B
初始成本年限现金流
2800万美元21800万美元/年
5500万美元32500万美元/年
单选题The primary monetary policy goal of most major central banks is best characterized as:
单选题In the short run, an increase in output (marginal product) at low levels of production will most likely cause: