单选题Even though the producer surplus increases under a monopoly scenario, relative to one of perfect competition, the consumer surplus : A. decreases by a lesser amount. B. decreases by a greater amount. C. decreases by an equal amount.

单选题Which of the following statements about creating a collateralized mortgage obligation (CMO) is FALSE? A CMO:

单选题An investor who wants to estimate the enterprise value multiple (EV/EBITDA) of a company has gathered the following data: Market value of debt $10 million Market capitalization $45 million Cash and short-term investments $2

单选题The following information is available about a hedge fund: Initial fund assets $100 million Fund assets at the end of the period (before fees) $110 million Management fee based on assets under management 2% Incentive fee based on the return 20% Soft hurdle rate 8% No deposits to the fund or withdrawals from the fund occurred during the year

单选题Which of the following concentration ratios are most likely to be associated with a perfectly competitive industry? Four-firm concentration ratio Herfindahl-Hirschman Index ①A. 125 1000 ②B. 85 25 ③C. 25 100 A. ① B. ② C. ③

单选题Default risk in a forward contract:

单选题A company using the LIFO inventory method reports a LIFO reserve at year-end of $85 000, which is $20 000 lower than the prior year. If the company had used FIFO instead of LIFO in that year, the company's financial statements would have reported: A. a lower cost of goods sold, but a higher inventory balance. B. a higher cost of goods sold, but a lower inventory balance. C. both a higher cost of goods sold and a higher inventory balance.

单选题已知某投资者购进某公司的1000只股票，相关法律规定的初始保证金率为50%，维持保证金率为25%。如果全额进行保证金交易，则该股票的市场价格为每股30美元。试根据上述信息解答问题。

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 COGS?

单选题For a decline in interest rates, the price of a callable bond, when compared to an otherwise identical option-free bond, will most likely rise by: A. less because the price of the embedded option rises. B. less because the price of the embedded option falls. C. more because the price of the embedded option rises.

单选题Richard Pantoja is enrolled as a candidate in the CFA examination program. He works as an assistant for Warren Investment (WI). Pantoja sees WI's purchase list and purchases several of the recommended stocks. Pantoja least likely violates the CFA Institute Standard relating to:

单选题An investment management firm has been hired by SEK Corporation to work on an initial public offering for the company. The firm"s brokerage unit now has a sell recommendation on SEK, but the head of the investment-banking department has asked the head of the brokerage unit to change the recommendation from sell to buy. According to the Standards, the head of the brokerage unit would be permitted to:

单选题Financial derivatives contribute to market completeness by allowing traders to do all of the following EXCEPT : A. increase market efficiency through the use of arbitrage. B. hedge positions in other assets and engage in high risk speculation. C. narrow the amount of trading opportunities to a more manageable range.

单选题Which of the following statements is true of futures contracts?

单选题Charles, CFA, is a managing director at NSSI, a regional brokerage firm. Charles manages the institutional fixed-income desk and is responsible for 20 employees in both the trading and sales departments. Charles recently called a meeting with the head of trading and the head sales to review the firm's policies regarding trading by employees in their personal accounts. He instructed the two to review the information with the employees they supervise. A week after the meeting, Charles discovered that a sales assistant made personal trades during a firm "blackout" period on a restricted security. According to the Standard Ⅳ (C) Responsibilities of Supervisors, the least appropriate action for Charles to take is: A. to speak directly to the employee and attain assurance that the violation will not be repeated. B. begin an investigation to determine the extent of the wrongdoing. C. increase the monitoring of the employee's activities at the firm.

单选题Peterson Painting Company is a commercial painting contractor. At the beginning of 20×7, Peterson' s net working capital was $ 350000. The following transactions occurred during 20×7 :

单选题Which of the following organizational structures usually has the lowest cost of raising external capital? A. Proprietorships. B. Partnerships. C. Corporations.

单选题Assume the U

单选题An analyst gathered the following data about a company: capital structure required rate of return 40% debt 15% 10% preferred stock 13% 50% common stock 10% Assuming a 30% tax rate, what after-tax rate of return must the company earn on its investments?

单选题A switch from first in first out (FIFO) to last in first out (LIFO) : A. results in a more meaningful inventory valuation during periods of rising prices. B. will result in higher taxes and smaller cash flows. C. results in a lower current ratio during periods of rising prices.