单选题An analyst does research about marginal benefit and marginal cost. If the government sets a production quota below equilibrium, which of the following statements is most accurate? The effect at the quota quantity is that: A. marginal cost exceeds market price. B. marginal benefit exceeds market price. C. marginal benefit exceeds marginal cost.
单选题Which of the following statements concerning a distribution with
positive skewness and positive excess kurtosis is FALSE?
A. The mean will be greater than the mode.
B. It has a lower percentage of small deviations from the mean than a normal
distribution.
C. There are a large number of positive outliers.
单选题ff the payout ratio increases, the P/E multiple will:
单选题Which of the following is most likely one of the characteristics of oligopoly? A. Collusion. B. Low barriers to entry. C. Product differentiation.
单选题Consider two options A and B. Option A has a strike price of $40 and is selling in the market for $ 4. Option B has a strike price of $32 and is selling in the market for $3. The underlying assets for the options, Stock A and Stock B, have a current market price of $ 43 and $ 29, respectively. Which of the following are most likely TRUE about option A and option B? Option A Option B A. Expiring call In-the-money put B. In-the-money put Expiring call C. In-the-money call Expiring put
单选题Billie Blake is interested in a stock that has an expected dividend one year from today of $1.50, i. e. , D1=$1.50, D2=$1.75 and D3=$2.05. She expects to sell the stock for $47.50 at the end of year 3. What is Billie willing to pay one year from today if investors require a 12 percent return on the stock. A. $38.01. B. $41.06. C. $52.30.
单选题Which of the following most accurately describes how to standardize a random variable X?
单选题The free-rider problem, an obstacle to efficiency, is most likely
associated with:
A. monopolies
B. public goods
C. subsidies and quotas
单选题Which of the following types of institutions is most likely to have a long investment time horizon and a higher level of risk tolerance?
单选题A company has announced that it is going to distribute a group of long-lived assets to its owners in a spin-off
单选题Use the following data to analyze a stock"s price earnings ratio (P/E ratio):
The stock"s beta is 1.2.
The dividend payout ratio is 60%.
The stock"s expected growth rate is 7%.
The risk free rate is 6% and the expected rate of return on the market is 13%.
Using the dividend discount model, the expected P/E ratio of the stock is closest to:
单选题An analyst does research about diluted earnings per share and gathers the following information about a company for 2011: ·Net income is $1275000 ·Common shock dividends is $55000 ·Average number of common shares outstanding is 150000 ·20000 preferred shares outstanding ·Preferred dividends per share is $18.00 If each preferred share is convertible into 2 shares of common stock, the company's reported diluted EPS is closest to: A. $6.10 B. $6.42 C. $6.71
单选题A company had the following changes in its stock: The company had 2 million shares outstanding on December 31,2006. On March 31,2007, the company paid a 10% stock dividend. On June 30,2007, the company sold $10 million face value of 7% convertible debentures, convertible into common at $ 5 per share. On September 30,2007, the company issued and sold 100000 shares of common stock. The company should compute its 2007 basic earnings per share based on.
单选题A bond with an 8 percent semi-annual coupon and 10-year maturity is currently priced at $904.52 to yield 9.5 percent. If the yield declines to 9 percent, the bond's price will increase to $934.96, and if the yield increases to 10 percent, the bond's price will decrease to $875.38. Estimate the percentage price change for a 100 basis point change in rates.
单选题Consumer surplus is most accurately defined as the difference between the（ ）
单选题An investor purchased a 6 - year annual interest coupon bond one year ago. The coupon interest rate was 10 percent and the par value was $1000. At the time he purchased the bond, the yield to maturity was 8 percent. If he sold the bond after receiving the first interest payment and the yield to maturity continued to be 8 percent, his annual total rate of return on holding the bond for that year would have been:
单选题At year-end , Sun company reported cost of goods sold of $ 400 million. Ending accounts payable is $100 million, Assuming there are 365 days in a year, How many days on average it takes Sun company to pay its suppliers.
单选题The monetary policy tools available to the Federal Reserve are least likely to include: A. open market operations. B. the ability to determine the required reserve ratios of its member banks. C. adjustments to the amount of gold held as reserves against Federal Reserve notes.
单选题An analyst gathered the following information about a common stock:
Annual dividend per share
$2.10
Risk-free rate of return
7%
Risk premium for the stock
45
If the stock"s annual dividend is expected to remain at $2.10, the value of the stock is closest to :
单选题Samuel Goldstein, CFA, is an analyst for Tamarack Securities. Goldstein's father, Reuben, has a client account at Tamarack. In ordering trades, Goldstein should place orders in: A. his clients' accounts first, his father's account second, and his account last. B. his clients' and his father's accounts in the first group and his personal accounts in the second group. C. his clients' accounts in the first group and his father's and his own personal account in the second group.