单选题Reading the footnotes to a companys financial statements and the Management Discussion Analysis is least likely to help an analyst determine（ ）
单选题John Harris earns $ 800000, and pays $200000 in taxes. His marginal tax rate is 40%. What would the taxable-equivalent yield be for John if he were to purchase a municipal bond with a yield of 3.25%?
单选题Incomestatementsfortwocompanies(AandB)andthecommon-sizedincomestatementfortheindustryareprovidedbelow:Thebestconclusionananalystcanmakeisthat:
单选题An analyst does research about index investing. The rationale for investing in index funds least likely includes the ability to: A. diversify the investments. B. reduce the cost of investing. C. capture arbitrage opportunities.
单选题An analyst does research about capital asset pricing model and gathers the following information: Estimated rate of return for a stock 12.0% Expected rate of return for the market risk premium 9.5% Risk-free rate of retum 3.5% If the covariance of the returns on the stock with the returns on the market portfolio is equal to the variance of the returns on the market portfolio, the analyst's most appropriate conclusion is that the stock is: A. overvalued. B. properly valued. C. undervalued because the required rate of return for the stock is greater than 9.5%.
单选题Ananalystgatheredthefollowingdatafortwocompaniesinthesameindustry:Whichofthefollowingisthemostappropriateconclusiontheanalystcanmake?ComparedtoCompanyB,CompanyA:
单选题The law of diminishing returns states that for a given production
process, as more and more of a resource (such as labor) are added, holding
the quantities of other resources fixed:
A. cost declines at an increasing rate.
B. cost declines at a decreasing rate.
C. output increases at a decreasing rate.
单选题Which of the following statements most accurately describes the parties that GIPS are intended to apply to and serve?
单选题Pia Nilsson is a sole proprietor investment advisor
单选题If accurately calculated, will the amount of accounting profit for a firm generally: be below that firm's economic consider both that firm's profit for the same time period? explicit and implicit costs? ①A. No No ②B. No Yes ③C. Yes No
单选题Which of the following is NOT an over-the-counter (OTC) derivative?
单选题The following information has been gathered about a firm: LIFO inventory = $10000 Beginning LIFO reserve = $ 2500 Ending LIFO reserve = $ 4000 LIFO Cost of goods sold = $15000 LIFO net income = $ 1500 Tax rate is 40% What is the FIFO net income?
单选题An analyst does research about a floating-rate security. All else being equal, the cap on a floating-rate security is most likeLy to benefit the: A. issuer if interest rates fall. B. issuer if interest rates rise. C. bondholder if interest rates rise.
单选题An industry experiencing slow growth, high prices, and volumes insufficient to achieve economies of scale is most likely in the:
单选题Alien Chen, CFA, stated that, for the typical company, accounting
profit tends to be greater than economic profit because explicit costs are
generally not included in calculating accounting profit. Is the analyst correct
with respect to the: Relationship between
accounting, profit and economic profit?
Inclusion of explicit costs? ①A.
No
No ②B. No
Yes
③C. Yes
No
A. ①
B. ②
C. ③
单选题Which of the following statements about a currency swap is least accurate? A. Most currency swaps are done to exploit market inefficiencies. B. Notional principal is exchanged at the termination of the swap and the initiation of the swap. C. The periodic interest payments are exchanged in full each period.
单选题Which one of the following is least likely one of the assumptions of capital market theory? A. Investors have heterogeneous expectations. B. Markets are in equilibrium. C. There are no taxes or transaction costs involved in buying or selling assets.
单选题Which of the following factors would be least likely to shift the aggregate demand curve?
单选题Chris Rodriguez, CFA, is a portfolio manager at Nisqually Asset Management, which specializes in trading highly illiquid shares
单选题AU.S.bankentersintoaplainvanillacurrencyswapwithanotionalprincipalofUS$100m(￡67m).Ateachsettlementdate,theU.S.bankpaysafixedrateof8percentonthepoundsreceived,andanEnglishbankpaysavariablerateequaltoLondoninterbankofferedrate(LIBOR)ontheU.S.dollarsreceived.Giventhefollowinginformation,whatpaymentismadetowhomattheendofyear2?TheU.S.bankpays: