单选题A straight 3% bond bas two years remaining to maturity and is priced
at $973.4. A callable bond that is the same in every respect as the straight
bond, except for the call feature, is priced at $925.2. With the yield curve
flat at 5%, what is the value of the embedded call option?
A. $24.1
B. $48.2
C. $53.3
单选题 It is April 15, and a trader is entered into a short
position in two soybean meal futures contracts. The contracts expire on August
15, and call for the delivery of 100 tons of soybean meal each. Further, because
this is a futures position, it requires the posting of a $3000 initial margin
and a $1500 maintenance margin per contract. For simplicity, however, assume
that the account is marked to market on a monthly basis. Assume the following
represent the contract delivery prices (in dollars per ton) that prevail on each
settlement date:
April 15 (initiation)
May 15
June 15
July 15
August 15 (delivery)
173.00
179.75
189.00
182.50
174.25
单选题Which of the following relationships between arbitrage and efficient markets is least accurate?
单选题An analyst does research about depreciation and gathers the following information about a company. The company sells a price of fixed asset thathas original cost of $9000 and has accumulated depreciation of $5000. If there is a loss to the sale of $1500, the selling price of the fixed asset is closest to: A. $2500 B. $5500 C. $6500
单选题The market portfolio in the Capital Market Theory contains which types of investments?
单选题As part of the portfolio management process, Jill Mathews is
collecting data in order to estimate the Security Market line. The slope of the
Security Market Line corresponds to:
A. the amount of risk per unit return that investors must take in the
market.
B. the nominal risk-free rate.
C. the return per unit risk required by all investors.
单选题A security market in which all the bids and asks for a stock are gathered to arrive at a single price that satisfies most of the orders is best described as a（ ）
单选题Justin Sato, CFA, treasurer for a college, manages the Student Scholarship Trust. Sato issued a Request for Proposals (RFP) for domestic equity managers. Pamela Peters, CFA, a good friend of Sato, introduces him to representatives from Capital Investments, who submitted a proposal. Sato selected Capital as a manager based on the firm's excellent performance record. Shortly after the selection, Peters, who had outstanding performance as an equity manager with another firm, accepted a lucrative job with Capital. Which of the CFA charterholders violated CFA Institute Standards of Professional Conduct? A. Sato violated standards. B. Peters violated standards. C. Neither Sato nor Peters violated standards.
单选题ThefollowinginformationforthecurrentyearisavailableforacompanythatpreparesitsfinancialstatementsinaccordancewithUSGAAP.$thousandsKevenue7,000Costofgoodssold4,200Otheroperatingexpenses500Restructuringcosts250Interestexpense200Thecompanysoperatingprofit(inthousands)isclosestto:
单选题With respect to major bond markets around the world, which of the following statements is most accurate? A. Investors in one country that acquires bonds issued by the government of another country are believed to be risk-free. B. The factors that affect yield spreads in the U. S. are different than the factors that affect yield spreads in other countries and between countries. C. An investor in one country that buys bonds denominated in the currency of another country has unknown cash flows in the investor's domestic currency.
单选题Changes in which of the following are likely to affect interest rates? Ⅰ. Inflation expectations Ⅱ. Size of the federal deficit Ⅲ. Money supply
单选题An unpaid intern at an investment firm has the task of photocopying unannounced investment recommendations after all regular employees have left for the day. With respect to Standard Ⅵ(B), Priority of Transactions, the firm（ ）
单选题An analyst does research about the accrual method. Which of the following is most likely to record warranty expense for products a company sells in the period of the sale under to the matching principle? A. Warranty expense is accrued only. B. Warranty expense is estimated only. C. Warranty expense is both accrued and estimated.
单选题For a 90-day U.S
单选题What would be the impact of an unanticipated increase in aggregate demand on an economy's rate of unemployment, rate of inflation, and the short-run Phillips curve (SRPC)? Unemployment Inflation SRPC ①A. Decrease Increase Upward movement along curve ②B. Increase Increase Downward movement along curve ③C. No effect Decrease Upward shift of curve
单选题Acme Corp. purchased a new stamping machine for $100000, paid $10000 for shipping, and paid $ 5000 to have it installed in their plant. Based on an estimated salvage value of $ 25000 and an economic life of six years, the-difference between straight-line depreciation and double-declining balance depreciation in the second year of the asset's life is closest to:
单选题Randy Smith called his broker, Pare Durbin, and asked her to borrow
100 shares of Zylex Corp. stock. Randy then sold the stock at the current market
price of $45 while anticipating that Durbin would be able to buy the stock back
for him at a lower price in the future. What type of order did Smith place?
A. Short sale.
B. Market order.
C. Margin order.
单选题Roger Smith is a retail broker for TNT Securities, a small regional broker firm. As a CFA member, according to the Code of Ethics and Standards of Professional Conduct relating to knowledge of the law, he is most likely required to: A. report violations of the Code of Ethics and Standards of Professional Conduct to appropriate regulatory organization. B. dissociate from any activity that is believed to be illegal or unethical. C. report violations of the Code of Ethics and Standards of Professional Conduct to CFA Institute.
单选题During a period of rising inventory costs, a company decides to change its inventory method from FIFO to the weighted average cost method
单选题Is an option-free bond's price sensitivity positively correlated with the: Bond's coupon rate? Level of market interest rates? A. NO NO B. NO YES C. YES NO