单选题Silvano Jimenez, an analyst at Banco del Rey, is reviewing recent actions taken by the U. S. Federal Reserve (the Fed) in setting monetary policy. Recently, the Fed decided to increase the money supply, which has resulted in a decrease in real interest rates. At a staff meeting, Jimenez brings this matter to the attention of his colleagues and makes the following statements: Statement 1: Although the money supply increase has led to a decrease in real interest rates, we should begin to see U.S. investors decrease their investments abroad and the U.S. dollar will appreciate in the foreign exchange market. Statement 2: The Fed's increase in the money supply will increase the amount of imports into the U. S. Are Statement 1 and Statement 2 as made by Jimenez correct? Statement 1 Statement 2 ①A. Incorrect Correct ②B. Correct Incorrect ③C. Incorrect Incorrect A. ①B. ②C. ③

单选题Which of the following statements concerning kurtosis is FALSE? A: A. distribution that is more peaked than a normal distribution is lept0kurtic. B. distribution that is less peaked than a normal distribution is platykurtic. C. leptokurtic distribution has excess kurtosis less than zero.

单选题An analyst does research about welfare effects of import quota. With respect to an importing country, the implementation of an import quota will most likely increase: A. local government's revenue. B. domestic consumption. C. domestic production.

单选题Terrison Asset Management Inc. is seeking to become compliant with GIPS. The firm has hired an independent consultant to assist in ensuring that Terrison's policies and procedures conform to the standards. Which of the following recommendations made by the consultant is least likely required under GIPS? A. Terrison must disclose the results of an independent verification process in its composite presentations. B. All of Terrison's accounts managed by third party advisers selected by Terrison must be included in the firm's composites. C. Compliant presentations for discontinued composites must be made available to any prospect requesting one up to five years after discontinuation.

单选题According to the pure expectations theory, an upward-sloping yield curve implies: A. interest rates are expected to decline in the future. B. interest rates are expected to increase in the future. C. longer-term bonds are riskier than short-term bonds.

单选题If the economy is in short-run equilibrium above the full-employment level of output, what is the most likely adjustment that will restore the economy to long-run equilibrium? A. Money wages and resource prices will increase. B. The price level for final goods and services will decrease. C. Long-run aggregate supply will increase.

单选题Which of the following is NOT considered a reason for using the swaps market? To: A. reduce transactions costs and obtain cheaper financing. B. exploit market inefficiencies. C. maintain privacy.

单选题According to Statement on Auditing Standards No. 99, Consideration of Fraud in a Financial Statement Audit, which of the following is least likely to be a risk factor related to opportunities to commit fraudulent accounting? A. Significant related party transactions. B. High turnover among accounting and information systems personnel. C. Aggressive or unrealistic profitability expectations from third parties.

单选题An analyst does research about return on equity and gathers the following information about a company in 2011: ·Revenue is $3000000 ·Average total assets is $2750000 ·Net income is $100000 ·Leverage ratio is 1.9 The company's return on equity in 2011 is closest to: A. 3.5% B. 6.3% C. 6.9%

单选题An analyst does research about duration and gathers the following information about the price sensitivity of an option-free bond: Yield Change Price Increase 25 basis points 92.4 Decrease 25 basis points 95.9 If the bond's current price is 93.8, the duration is closest to: A. 3.73 B. 7.46 C. 14.92

单选题An analyst does research about accrual accounting. A retail store in a shopping mall often pays its rent in advance. The originating entry to account for the rent most lilcely reduces cash and records a(n): A. asset. B. liability. C. expense.

单选题Joe DeRita is giving an economic briefing before the Senate Banking Committee. During his testimony, Senator Morris Howard states, "Based on the Phillips curve relationship, if we increase the inflation rate from 3% to 5% , we can achieve a reduction in the rate of unemployment in both the short run and the long run. " Senator Lawrence Fine adds, "Furthermore, if the central bank is able to credibly announce that they will maintain the money supply growth rate, so that the increased inflation rate is well anticipated, borrowers, lenders, workers, and employers will incorporate the new higher rate of inflation into long-term contracts, so there will be no adverse impact on the economy. " Should DeRita agree or disagree with the two Senators? M. Howard L. Fine ①A. Agree Agree ②B. Agree Disagree ③C. Disagree Disagree

单选题Which of the following three bonds (similar except for yield and maturity) has the least interest rate risk? The bond with: A. 3% yield and 5-year maturity. B. 5% yield and 5-year maturity. C. 3% yield and 10-year maturity.

单选题Which of the following statement best described the efficient frontier? It is the set of portfolios that has :

单选题Which of the following statements is most accurate regarding cash flow ratios?

单选题In the classification of currency regimes, a currency board system (CBS) most likely differs from a fixed-rate parity system in that:

单选题Which one of the following statements most accurately describes a significant difference between a monopoly firm and a perfectly competitive firm? A. A perfectly competitive firm minimizes costs; a monopolistic firm maximizes profit. B. A perfectly competitive firm maximizes profit; a monopolistic firm maximizes price. C. A perfectly competitive firm takes price as given; a monopolistic firm must search for the best price.

单选题Effective duration is more appropriate than modified duration as a measure of a bond's price sensitivity to yield changes when: A. the bond contains embedded options. B. yield curve changes are not parallel. C. the bond is a floating rate security.

单选题A large manufacturing company is in a competitive industry. It has above-average investment opportunities and its return on investments has been above the required rate of return. The firm retains a large portion of earnings to fund its superior investment projects. The company is best characterized as a.

单选题An analyst is investigating one stock with high after-tax return above the benchmark and is concerned about his perceptions of slowdown in the macroeconomic next year. So he adjusts the historical probability of the stocks return above the benchmark. The analyst is best characterized as gaining a(n)（ ）