单选题Jillian Best is choosing between two mutual funds. Fund A has a front-end load of 4 percent, a net asset value (NAV) of $60.00, and an expected return of 13.0 percent. Fund B has a redemption fee of 1.5 percent, a NAV of $27, and an expected return of 10 percent. Jillian will invest $ 50000 in either fund. Which of the following statements is most accurate if Jillian has a 6-month holding period? The: A. investor is better off with the redemption fee fund by $ 592.50. B. investor is better off with the redemption fee fund by $712.50. C. investor is better off with the front-end load fund by $120.00.
单选题A call option sells for $4 on a $25 stock with a strike price of $30. Which of the following statements is FALSE? A. At expiration, the buyer of the call will not make a profit unless the stock's price exceeds $30. B. At expiration, the writer of the call will only experience a net loss if the price of the stock exceeds $34. C. A covered call position at these prices has a maximum gain of $9 and the maximum loss of the stock price less the premium.
单选题In a full employment economy, the quantity theory of money states that
any increase in the sup ply of money will lead to:
A. increased prices.
B. increased velocity.
C. increased production.
单选题The fact that firms can make more adjustments to production methods in the long run gives the firm: A. the ability to quickly adjust output. B. a long-run supply curve that is steeper than its short-run supply curve. C. a long-run supply curve that is more elastic than its short-run supply curve.
单选题The goals and targets of Federal Reserve policy least likely include:
单选题An appropriate cash management strategy for a company that has a seasonally high need for cash prior to the holiday shopping season would least likely include（ ）
单选题The option-free bonds issued by ALS Corp
单选题Two companies are identical except for their accounting treatment of research and development costs. One company expenses all such costs immediately, while the other company capitalizes a portion of the costs. Compared to the company that capitalizes, the company that expenses immediately will most likely report a lower:
单选题Which of the following could be a growth stock?
单选题An analyst does research about portfolio management process. Which of the following statements is commonly believed to have the greatest impact on portfolio performance? A. Security selecting. B. Time selecting. C. Asset allocation.
单选题The least likely way to terminate a swap is to:
单选题Steve Waters, a CFA Level I candidate, has decided to enter into a
long position of Farmco stock. Since Farmco is thinly traded, Waters is
concerned the order will overwhelm the liquidity of Farmco and the price will
surge. Waters engages in a series of block trades in order to accomplish the
purchase. According to Standard Ⅱ (B) , Market Manipulation, Waters has engaged
in:
A. neither transaction - based manipulation nor information - based
manipulation.
B. transaction - based manipulation, but not information - based
manipulation.
C. both transaction - based manipulation and information - based
manipulation.
单选题Which of the following statements does NOT describe the role of a portfolio manager in perfectly efficient markets? Portfolio managers should: A. construct diversified portfolios that include international securities to eliminate unsystematic risk. B. quantify client's risk tolerance, communicate portfolio policies and strategies, and maintain a strict buy and hold policy avoiding any changes in the portfolio to minimize transaction costs. C. help clients minimize taxes and reduce trading turnover.
单选题Which of the following terms in a bond issue most likely helps to reduce credit risk?
单选题Consider a bond , par value $100 , that pays an annual coupon of 5 percent and that has three years remaining until maturity. Suppose the term structure of interest rates is flat at 6 percent. How much does the bond price change if the term structure of interest rates shifts down by 1 percent instantaneously?
单选题A portfolio has a return of 14.2 percent and a Sharpe's measure of 3.52. If the risk - free rate is 4.7 percent, what is the standard deviation of returns?
单选题Which of the following is NOT an assumption of the constant growth dividend discount model (DDM)? A. The growth rate of the firm is higher than the overall growth rate of the economy. B. ROE is constant. C. Dividend payout is constant.
单选题Which of the following is not a characteristic of a portfolio located on the efficient frontier? A. the portfolio offers the highest possible return for its level of standard deviation. B. the portfolio offers the highest possible risk for its level of return. C. the portfolio offers the lowest possible risk for its level of return.
单选题If both average product (AP) and marginal product (MP) are equal to 8 when 10 workers are employed, what can we most likely conclude about AP and MP when 15 workers are employed?
单选题Which of the following least likely describes an advantage of investing in hedge funds through a fund of funds? A fund of funds may provide investors with: