单选题As of January 1, a company had 22500 $10 par value common shares outstanding. On July 1, the company repurchased 5000 shares. The company also has 11000,10% , $100 par value preferred shares. If the company' s net income is $ 210000, its diluted earnings per share is closest to :

单选题Fernando Golpas and Javier Solada were reviewing the financial reports of several Latin American governments. They noticed that the central governments of many Latin American countries such as Argentina, Chile, Peru, and Ecuador had recently been issuing sovereign debt. This sparked a discussion between the two analysts about sovereign debt ratings. During their discussion they made the following statements: Golpas: The rating agencies, such as Moody's, generally assign two ratings to sovereign debt. One is a local currency debt rating and the other is a foreign currency debt rating. The reason for the two ratings is that the default frequency has been greater on local currency denominated debt. Solada: If a central government is willing to raise taxes and control its internal financial system, it should be able to generate sufficient local currency to meet its local currency obligation. That is why the rating on local currency denominated debt is generally higher than the rating on foreign currency denominated debt. Are the statements made by Golpas and Solada regarding sovereign debt ratings correct? Golpas Solada ①A. Correct Correct ②B. Incorrect Correct ③C. Incorrect Incorrect

单选题A long-term bond investor with an investment horizon of 8 years invests in option-free, fixed-rate bonds with a Macaulay duration of 10

单选题The demand for a given resource will most likely decrease if the prices of substitute resources and complementary resources, respectively: Prices of substitute resources Prices of complementary resources ①A. Increase Increase ②B. Increase Decrease ③C. Decrease Increase

单选题Sale of land would be classified as:

单选题Thefollowinginformationisavailableaboutacompany:Totalliabilitiesattheendoftheyearareclosestto:

单选题The following table summarizes the availability of trucks with air bags and bucket seats at a dealership.

单选题A company took the following actions related to $5 million of lO-year bonds with a coupon rate of 8% payable semi-annually on 30 June and 31 December: A

单选题Demand for a good is most likely to be more elastic when:

单选题In discussing the characteristics of exchange traded funds (ETFs) in markets where capital gains are taxed, and analyst made the following statements: Statement 1 Compared to investment in a mutual fund, an investor exposure to taxes on capital gains distributions lower with an ETF Statement 2 Compared to a closed-end investment fund, an ETF is more likely to trade at net asset value Are the analyst's statements correct? Statement 1 Statement 2 ①A. Yes No ②B. Yes Yes ③C. No No A．① B．② C．③

单选题According to the earnings multiplier model, a stock's P/E ratio (P0/E1) is affected by all of the following EXCEPT the:

单选题According to the Standard of Practice Handbook, a supervisor establishing procedures to eliminate conflicts of interest relating to personal trading would least likely recommend requiring: A. a ban on employee investments. B. disclosures of beneficial ownerships. C. duplicate confirmations of employee transactions.

单选题The "fraud triangle" consists of: A. Incentive or pressure, opportunity, and attitudes or rationalization. B. Ineffective management, unstable organizational structure, and deficient internal controls. C. Inappropriate ethical standards, violations of laws or regulations, and failing to correct known reportable conditions.

单选题Roger Hickstead owns 100 shares of Cole Corporation stock with a current market value of $45 per share. Consensus stock price estimates from the leading industry analysts predict the price of Cole will fall to $35 per share in the next five months. What type of derivative strategy should Hiekstead employ if he is not willing to lose more than $10? A. Buy a put with a strike price of $37 and a premium of $2. B. Buy a covered call with a strike price of $37 and a premium of $2. C. Buy an uncovered call with a strike price of $37 and a premium of $2.

单选题When a risk-free asset is combined with a portfolio of risky assets, will the Standard deviation of the resulting portfolio Graph of the possible portfolio return and risk combinations be a linear funtion of the standard deviation display increasing incremental return per unit of the risky asset portfolio? of incremental resk change? ①A. YES NO ②B. YES YES ③C. NO YES

单选题Which of the following statements about inventory accounting is least accurate? A. If a U. S. firm uses LIFO for tax reporting it must use LIFO for financial reporting. B. During periods of rising prices, FIFO based current ratios will be smaller than LIFO based current ratios. C. U.S. GAAP rules require the use lower of cost or market when reporting inventories.

单选题According to the Global Investment Performance Standards (GIPS), which of the following is not a part of the verification process? Testing whether the:

单选题The European one-year risk-free rate is 1.98%, and the U.S. one-year risk-free rate is 1.08%. If the U.S. dollar per euro (USD/euro) spot rate is 1.2511, the one-year forward points for the USD/ euro forward rate are closest to: A. -94.0 B. -110.4 C. +111.4

单选题An investor does research about forward rate agreement and takes a $1million short position in a forward rate agreement 3×9 quoted at 5% according to LIBOR. At expiration, the investor gathers the following rates: Underlying Rate Rate 30-day LIBOR 5.20% 60-day LIBOR 5.30% 90-day LIBOR 5.40% The payoff for this investor is closest to: A. $495.62 B. $500.00 C. $660.83

单选题The symmetry principle refers to the idea that if an economy is organized under a fair set of rules: A. the greatest good is achieved for the greatest number of people. B. the wealth that individuals accumulate will become equal over time. C. individuals receive goods and services equal in value to their economic contribution.