单选题The probability that the Dow-Jones Average will increase tomorrow is 3/5. The probability of an increase in the Dow-Jones Average stated as odds is:

单选题An individual sees her income rise from $ 80000 to $ 88000, and along with it, her consumption of macaroni has decreased from eight dozen packages per year to six dozen packages per year. Which of the following is closest to the income elasticity of her demand for macaroni, and should macaroni be classified as a normal good or an inferior good? Income elasticity Type of good ①A. -3.0 Inferior ②B. -3.0 Normal ③C. -0.33 Inferior A. ① B. ②C. ③

单选题Which of the following is the least likely characteristic of the normal probability distribution? The normal probability distribution:

单选题A portfolio manager decides to temporarily invest more of a portfolio in equities than the investment policy statement prescribes because he expects equities will generate a higher returnthan other asset classes

单选题Given the following table about employees of a company based on whether they are smokers or nonsmokers and whether or not they suffer from any allergies, what is the probability of being either a nonsmoker or not suffering from allergies?（ ） Suffer from Allergies Dont Suffer from Allergies Total Smoker 35 25 60 Nonsmoker 35 185 240 Total 90 210 300

单选题In a natural monopoly:

单选题Keith Keeley, an associate at Friedman, Harris, and Levinsky LLC, was requested by a Managing Director of the firm to help construct the consumer price index (CPI). Keeley sought to determine which goods and services to include in the index by observing what a typical U. S. household purchases. He then took a large survey of individuals to determine what percentage of their disposable income they spend on each of the items and used these percentages as the weights for the major categories in the CPI. The steps that Keeley undertook are all part of which stage in constructing the CPI index?

单选题An examination of the cash receipts and payments of Xavier Corporation reveals the following: Cash paid to suppliers for purchase of merchandise $5000 Cash received from customers 14000 Cash paid for purchase of equipment 22000 Divedends paid 2000 Cash received from issuance of preferred stock 10000 Interest received on short-term investments 1000 Wages paid 4000 Repayment of loan to the bank 5000 Cash from sale of land 12000 Xavier' s cash flow from financing(CFF) and cash flow from investing(CFI) will be: CFF CFI ①A. $3000 $12000 ②B. $10000 $12000 ③C. $3000 $10000 A. ① B. ② C.③

单选题Which of the following statements regarding margin accounts is TRUE? A. A margin call is issued only on short positions. B. Margin accounts can be used to purchase securities by borrowing part of the purchase price. C. Margin refers to the amount of funds the investor can borrow.

单选题Giventhecoveredcalloptiondiagrambelowandthefollowinginformation,whatarethedollarvaluesforpointsXandY?Themarketpriceofthestockis$70,thestrikepriceofthecallis$80,andthecallpremiumis$5.

单选题The covariance of the market"s returns with the stock"s returns is 0.007 and the standard deviation of the market"s returns is 0.15. What is the stock"s beta?

单选题Selectedinformationaboutacompanyisasfollows:Theforecastednetincome(in000s)for2012isclosestto:

单选题What is the difference between the direct and the indirect method of calculating cash flow from operations ? A. The indirect method starts with gross income and adjusts to cash flow from operations, while the direct method starts with gross profit and flows through the income statement to calculate cash flows from operations. B. The direct method starts with sales and follows cash as it flows through the income statement, while the indirect method starts with net income and adjusts for non-cash charges and other items. C. Balance sheet items are not included in the cash flow from operations for the direct method, while they are included for the indirect method.

单选题While serving as visiting conductor at the University of Edinburgh, U. S. Citizen William Golson purchases a 9.0 percent annual coupon bond denominated in the local currency for 93.0. One year later, before his return to the U. S. , he sells the bond for 99.5. Using a holding period return formula he remembers from his undergraduate studies, he calculates his return at 16.7 percent. On the flight home, he is seated next to Kristin Meyer, CFA. She is puzzled because she has heard that similar investments yielded negative returns over the same time period. After consulting her financial newspaper, she recalculates Golson's return at a disappointing negative 5.2 percent. Assuming Meyer is correct, which of the following statements is the most likely reason for the difference in the calculated returns? Golson: A. forgot to include the impact of foreign currency appreciation in relation to the dollar. B. forgot to include the impact of foreign currency depreciation in relation to the dollar. C. omitted the impact of inflation.

单选题An analyst gathered the following information about the monthly returns over the same time period from two diversified investment portfolios: portfolio X portfolio Y Mean 1.2% 1.2% Median 1.1% 1.3% Mode 1.0% 1.4% The analyst stated that Portfolio X is negatively skewed and Portfolio Y is positively skewed. Is the analyst correct with respect to: Portfolio X? Portfolio Y? ①A. No No ②B. No Yes ③C. Yes No A．① B．② C．③

单选题Longboat, Inc. sold a luxury passenger boat from its inventory on December 31,2005 for $ 2000000. It is estimated that Longboat will incur $ 100000 in expenses servicing the warranty during its 5-year obligation. Longboat' s tax rate is 30 percent. To account for the tax implications of the warranty obligation, Longboat should: A. record a decrease in taxes payable of $ 30000. B. record a deferred tax asset of $ 30000. C. record a deferred tax liability of $ 30000.

单选题Which of the following goals of monetary policy is best described to be the key goal?

单选题In a net present value (NPV) profile, the internal rate of return is represented as the: A. slope of the NPV profile. B. intersection of the NPV profile with the horizontal axis. C. intersection of the NPV profile with the vertical axis.

单选题If a profit maximizing firm finds that its marginal revenue exceeds its marginal cost, it should:

单选题A CFA charterholder owns an asset management firm with offices downtown. To minimize rent expenses, each year the charterholder ships the previous year's research report to a nearby warehouse. There, the reports are digitized and stored in both electronic and hard-copy forms. After five years, all paper copies are destroyed and only electronic copies are retained. Are the charterholder's record-retention procedures in compliance with the CFA Institute Standards of Practice? A. No. B. Yes, because he is only required to retain hard copies for five years. C. Yes, because he still retains electronic copies of the original documents.