单选题The following information relates to the distribution of monthly returns from a diversified investment portfolio:
Mean
0. 95%
Median
1.01%
Mode
1. 08%
The distribution of monthly returns is best described as（ ）
单选题Sisse Brimberg, CFA is responsible for performance presentations at her investment firm
单选题An investment management firm, Derriot Inc., was recently audited by the United States Securities and Exchange Commission (SEC). Derriot included the following statement in its performance presentation report: "This report has been verified as GIPS compliant by Derriot"s Compliance Department and the United States Securities and Exchange Commission." Does this constitute acceptable verification under GIPS?
单选题Which statement about the risks of bond investing is FALSE? A. Issuers of revenue bonds are not always obligated to pay principal and interest. B. Interest on some municipal bonds is not excluded from federal income taxes. C. In a competitive Treasury-bill auction, not all bidders pay the same price.
单选题XYZ, Inc. has entered into a "plain-vanilla" interest rate swap on $ 5000000 notional principal. XYZ company pays a fixed rate of 8.5% on payments that occur at 180-day intervals. Platteville Investments, a swap broker, negotiates with another firm, SSP, to take the receive-fixed side of the swap. The floating rate payment is based on LIBOR (currently at 7.2% ). At the time of the next payment (due in exactly 180 days), XYZ company will: A. pay the dealer net payments of $ 65000. B. pay the dealer net payments of $ 32500. C. receive net payments of $ 32500.
单选题An analyst gathered the following data about a company: Collections from customers are $ 5000. Depreciation is $ 800. Cash expenses (including taxes) are $ 2000. Tax rate = 30%. Net cash increased by $1000. If inventory increases over the period by $ 800, cash flow from operations equals:
单选题An analyst determines that four stocks have the following characteristics:
单选题When one party pays a fixed rate of interest in an equity swap, which of the following is FALSE? A. Unlike other swaps, in an equity swap the one-quarter-ahead payment is not known at the end of the previous quarter. B. The equity-return payer will receive the fixed-rate minus the equity return. C. The fixed-rate receiver will never get more than the fixed rate.
单选题Which of the following statements regarding the money -weighted and time -weighted rates of return is least accurate? A. The time - weighted rate of return reflects the compound rate of growth of one unit of currency over a stated measurement period. B. The time - weighted rate of return is the standard in the investment management industry. C. The money - weighted rate of return removes the effects of the timing of additions and withdrawals to a portfolio.
单选题An analyst provides services for a charitable organization and in return gets free membership in the organization
单选题An analyst collects the following data on the return on equity (ROE) and the payout ratio for two companies, M and N
单选题By bee is expected to have a temporary supernormal growth period and then level off to a "normal," sustainable growth rate forever. The supernormal growth is expected to be 25 percent for 2 years, 20 percent for one year and then level off to a normal growth rate of 8 percent forever. The market requires a 14 percent return on the company and the company last paid a $2.00 dividend. What would the market be willing to pay for the stock today? A. $52.68. B. $47.09. C. $76.88.
单选题For collateralized mortgage obligations (CMOs) , are prepayment risk and interest rate risk, respectively, different for the various classes (tranches) of bonds? Prepayment risk Interest rate risk ①A. NO NO ②B. YES YES ③C. YES NO
单选题A bond has duration of 4
单选题If the prices of substitute resources decreased, the demand for a given
resource will most likely:
A. increase.
B. decrease.
C. remain unchanged.
单选题
单选题An analyst does research about dividend discount model and gathers the following information about a company: Current dividend per share (D0) $2.80 Dividend growth rate 6.5% Nominal risk-free rate 3.5% Required risk premium 6.5% Expected rate of inflation 1.5% According to the dividend discount model (DDM), the value of a share is closest to: A. $59.64 B. $80.00 C. $85.20
单选题For a t- distributed test statistic with 30 degrees of freedom, a one -tailed test specifying the parameter greater than some value and a 95 percent confidence level, the critical value is:
单选题An oligopolistic firm:
A. will consider the potential response of its rivals when making business
decisions.
B. is likely to be formed when the minimum-cost output is only a small
portion of the market output.
C. is likely to be formed when barriers to entry are low.
单选题Firms claiming GIPS compliance must make every reasonable effort to provide a compliant presentation to which of the following?