单选题Frank Jones passed the Level I CFA examination in 2008 and the Level Ⅱ examination in 2009. He is currently enrolled for the Level Ⅲ examination. According to the CFA Institute Standards of Professional Conduct, which of the following is the most appropriate way for Jones to refer to his participation in the CFA program? A. Frank Jones, CFA Level Ⅱ B. Candidate in the CFA Institute CFA program. C. Passed Level Ⅱ of the CFA examination in 2009.
单选题There is a group of stocks containing 7, 8, 9, 10, 10, 10, 11, 12, 13 and 30
单选题Which of the following is the least appropriate analyst adjustment for off-balance-sheet financing? A. Add the present value of capital leases to liabilities. B. Treat the sale of receivables with recourse as borrowing and reduce cash flow from operations by the sale amount. C. Increase liabilities for a commitment to buy $ 500 million in inventory over the next five years.
单选题A Treasury security carries a yield of 4.2 percent and a non-Treasury security carries a yield of 6.4 percent. Using the Treasury rate as the reference rate, which of the following statements is FALSE?
单选题The following information is calculated by using LIFO method, calculate the cost of goods sold using FIFO. {{U}}2000{{/U}} {{U}}2001{{/U}} Beginning Inventory $ 80000 $ 70000 Ending Inventory $ 70000 $ 50000 LIFO Reserve $ 5000 $ 8000 LIFO Cost of Goods Sold $ 300000 $ 250000
单选题Investors can diversify their direct real estate holdings through all of the following vehicles EXCEFF: A. commingled funds. B. co-operative shares. C. real estate investment trusts (REITs).
单选题Which of the following concerning about the different types of bonds is FALSE? A. Municipal bonds are traded in the over-the counter market. B. Unlimited tax general obligation bonds are backed by the full faith and credit of the issuer's entire taxing power. C. Federally related institutions issue securities directly in the marketplace but Government-sponsored enterprises generally do not.
单选题Compared with an otherwise identical option-free bond, when interest rates fall, the price of a callable bond will:
单选题AnassetmanagementfirmgeneratedthefollowingannualretumsintheirUSlarge-capequityportfolio:YearNetReturn(%)2008-34.8200932.2201011.12011-1.4The2012returnneededtoachieveatuailingfive-yearfeometricmeanannualizedreturnof5%whencalculateattheendof2012isclosestto:
单选题Which of the following condition is least likely to be the reason that a black market is generally inefficient?（ ）
单选题When household incomes go down and the quantity of a product demanded goes up, the product is:
单选题According to the Standards, insider trading is least likely to be
prevented by establishing:
A. fire walls.
B. watch lists.
C. selective disclosure.
单选题Consider a $100 par value bond with a 7% coupon paid annually and 5 years to maturity
单选题At the beginning of 2007, Thunderbird Company started a 3-year construction project. The following data relates to the project:
Contract price
$ 100 million
Costs incurred in 2007
$ 50 million
Progress billings
$ 40 miIlion
Collection of progress billings
$ 37 million
Because of cost overruns, Thunderbird cannot reliably estimate the total cost of the project. However, Thunderbird expects that its costs incurred so far are recoverable. What amount of revenue should Thunderbird recognize for the year ended 2007 under U. S. Generally Accepted Accounting Principles (U. S. GAAP) and International Financial Reporting Standards (IFRS)?
U.S. GAAP IFRS
①A. $ 0 $ 50 million
②B. $0 $0
③C. $ 37 million $ 40 million
单选题With respect to an option-free bond, when interest-rate changes are large, the duration measure will overestimate the: A. fall in a bond's price from a given increase in interest rates. B. increase in a bond's price from a given increase in interest rates. C. final bond price from a given increase in interest rates.
单选题A minimum wage set above the equilibrium minimum wage will most likely have which of the following effects?
单选题Accounting fraud risk factors related to attitudes and rationalizations are least likely to include:
单选题When one party pays a fixed rate of interest in an equity swap, which of the following is FALSE?
单选题Which of the following most accurately describes the relationship
between price (P), marginal cost (MC), and marginal revenue (MR) at the profit
maximizing output level for a firm in a perfectly competitive industry?
A. P＞MC=MR.
B. P=MC=MR.
C. P＞MC＜MR.
单选题Which of the following statements regarding Treasury bills (T-bills) is TRUE? T-bills: A. have maturities greater than 6 months and can be sold at a price greater than par. B. are considered the risk-free instrument, which means there exists no interest rate risk. C. carry no coupon.