单选题Regarding the technical points affecting the short sales of a stock, which of the following statements is TRUE? A. The short seller must pay all dividends due to the lender of the shorted stock. B. Stocks can only be shorted in a down market. C. The lender must also deposit margin money to guarantee the eventual repurchase of the stock.
单选题An analyst gathers the information about a short-term discount security. The face value of the security is $1000000, the purchase price is $980000, and the days to maturity is 66 days. The security's money market yield is closest to: A. 10.91% B. 11.13% C. 11.29%
单选题Suppose you have a three-security portfolio containing bonds A, B and C. The effective portfolio duration is 5.9. The market values of bonds A, B and C are $60, $25 and $80, respectively. The durations of bonds A and C are 4. 2 and 6.2, respectively. Which of the following amounts is closest to the duration of bond B?
单选题Corrisson Company is in the third year of a 4-year contract to build a new airdrome. Due to a labor strike, Corrisson is unable to reliably estimate the total cost of the project. Can Corrisson recognize revenue in the first year of the project according to U.S. accounting standards and international accounting standards?
U.S. accounting standards international accounting standards
① yes no
② no yes
③ yes yes
单选题Companies pursuing cost leadership will most likely:
单选题John Jenkins, CFA, is performing a study on the behavior of the mean P/E ratio for a sample of small-cap companies. Which of the following statements is TRUE? A. One minus the confidence level of the test represents the probability of making a Type Ⅱ error. B. A Type I error represents the failure to reject the null hypothesis when it is, in truth, false. C. The significance level of the test represents the probability of making a Type I error.
单选题The following items are from a companys cash flow statement
单选题Johnson Corp. had the following financial results for the fiscal 2004 year:
Current ratio
2.00
Quick ratio
1.25
Current liabilities
$100000
Inventory turnover
12
Gross profit %
25
The only current assets are cash, accounts receivable, and inventory. The balance in these accounts has remained constant throughout the year. Johnson"s net sales for 2004 were:
单选题Which of the following is NOT part of the basic inventory equation? A. Beginning inventory + purchases = ending inventory + cost of goods sold. B. Purchases - ending inventory + beginning inventory = cost of goods sold. C. Beginning inventory - ending inventory - cost of goods sold = purchases.
单选题Fred Heyach and Gord Murdoll are discussing whether or not competitive markets use resources efficiently. Heyach says, "Competition must lead to the efficient allocation of resources. Consumers are willing to pay more for the goods they want most, so producers of those goods can outbid other producers for the resources to make them. Murdoll replies, "At any one point in time the market might allocate resources efficiently given consumers' preferences, but as consumers change their minds about which goods they want, the allocation of resources becomes inefficient. " Are these statements correct or incorrect? Heyach Murdoll ①A. Correct Incorrect ②B. Incorrect Correct ③C. Incorrect Incorrect
单选题Consider a 1-year quarterly-pay $1000000 equity swap based on 90-day London Interbank Offered Rate (LIBOR) and an index return. Current LIBOR is 3.0 percent and the index is at 840. Below are the index level and LIBOR at each of the four settlement dates on the swap.
单选题Which of the following statements about statistical concepts is FALSE? A. A frequency is a tabular display of data summarized into a relatively small number of intervals. B. An interval is a set of return values within which an observation not falls. C. A parameter is an descriptive measure of a population characteristic.
单选题Which of the following is the most accurate definition of the velocity of money? The velocity of money is the:
单选题In perfectly competitive constant-cost industries and perfectly competitive increasing-cost industries, respectively, what is the most likely long-run effect of a permanent increase in demand?
ncreasing-cost industry Constant-cost industry
①A. price decreases price decreases
②B. price decreases price remains unchanged
③C. price remains unchanged price decreases
A. ① B. ②C. ③
单选题Which of the following would be counted as frictional unemployment?
A. Due to the negative growth of GDP, Smith was laid off.
B. Johnson was fired from his job after he got into an argument with his
foreman.
C. Although there were jobs available, Jones was unable to find an employer
with an opening.
单选题The minimum supply price, the lowest price at which a producer is willing to supply an additional unit of a good, is: A. less than the marginal revenue for the additional unit. B. the price at which producer surplus is maximized. C. the marginal cost of producing the additional unit.
单选题An Australian firm purchased a patent for USD20,000 and machinery for USD21,500 from a U
单选题An investor purchased a 10 - year zero-coupon bond with a yield to maturity of 10 percent and a par value of $1000. What would her rate of return be at the end of the year if she sells the bond? Assume the yield to maturity on the bond is 9 percent at the time it is sold and annual compounding periods are used.
单选题The level of diversification benefits available from investing
internationally is determined by the:
A. relative returns between markets.
B. correlations between market returns.
C. standard deviations of the returns.
单选题All else equal, an increase in expected yield volatility is most likely to result in an increase in the price of a(n):