单选题If two events are mutually exclusive, the probability that they both will occur at the same time is :
单选题An investor is evaluating the following possible portfolios. Which of the following portfolios would not lie on the efficient frontier?
Portfolio
Expected Return
Standard Deviation
A
26%
28%
B
23%
34%
C
14%
23%
D
18%
14%
E
11%
8%
F
18%
16%
单选题Two parties agree to a forward contract on a non-dividend-paying stock at a price of $103
单选题An analyst does research about audit opinions. A disclaimer audit opinion is most likely issued when: A. financial statements are prepared with some limitation or exceptions according to the accounting standards. B. auditors are unable to issue an opinion about financial statements. C. financial statements are materially depart from accounting standards and not fairly presented.
单选题In technical analysis, which of the following is not classified as a sentiment indicator? A. Volatility Index (VIX). B. Opinion polls. C. Short-term trading index (TRIN).
单选题The cost of equity using the capital asset pricing model (CAPM) approach and the discounted cash flow approach is: CAPM Discounted Cash Flow ①A. 16.0% 16.0% ②B. 16.0% 15.4% ③C. 16.6% 15.4%
单选题At the beginning of 2007, Thunderbird Company started a 3-year construction project. The following data relates to the project:
单选题Gene Bawerk, an economics professor, is lecturing on the factors that influence the price elasticity of demand. He makes the following assertions: Statement 1: For most goods, demand is more elastic in the long run than the short run. Statement 2: Demand for a good becomes more elastic when a close substitute for it becomes available on the market. Are Bawerk's statements correct? Statement 1 Statement 2 ①A. Correct Incorrect ②B. Incorrect Correct ③C. Correct Correct
单选题An investors portfolio has a mean return of 15 percent and a coefficient of variation of 1.8. If the risk-free rate of return is 5 percent, the portfolio has the sharpe ratio is closet to（ ）
单选题If the balance in a trader's account falls below the maintenance margin level, the trader will have to deposit additional funds into the account. The additional funds required is called the:
单选题An initial investment of $1 million in a venture capital project is expected to pay $10 million at the end of 5 years if it is successful. The probabilities of failure for the project are provided in the table below:
Year:
1
2
3
4
5
Failure Probability
0.30
0.25
0.20
0.20
0.20
If the cost of capital for the project is 18%, the projects expected NPV is closest to:
单选题According to the Professional Conduct Standards relating to responsibility of supervisors, supervisors are NOT required to: A. take steps to prevent persons acting under their supervision from violating Jaws, rules, regulations, firm policies, or the Code of Ethics and Professional Conduct Standards. B. contain the firm's compliance procedures in a clearly written and accessible manual that is tailored to the firm's operations. C. exercise supervisory responsibility to employees who are not CFA Institute members.
单选题Tuross Online, Inc., sells books by mail. A sample of 16 recent orders showed the mean time taken to send out these orders was 35 hours with a sample standard deviation of 7 hours. Assuming the population is normally distributed, the 95% confidence interval for the population mean is closest to.
单选题The difference between nominal spread and zero-volatility spread will most likely be the greatest for a mortgage-backed security: A. in an inverted yield curve environment. B. in a steep upward-sloping yield curve environment. C. with short maturity in a flat yield curve environment.
单选题An analyst does research about standard deviation and forecasts the following information about earnings per share (EPS): Scenario Probability of Scenario Earnings per share 1 0.25 $8.10 2 0.75 $6.15 The standard deviation of earnings per share is closest to: A. 0.51 B. 0.71 C. 0.84
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（ ）
单选题The bonds issued by ALS Corp
单选题A distribution of returns that has a greater percentage of small deviations from the mean and a greater percentage of extremely large deviations from the mean compared to a normal distribution:
单选题Xiang Li, CFA, deputy treasurer for BBB College, manages the Student Scholarship Trust. Li issued a Request for Proposals (RFP) for domestic equity managers. Gong Cheng, CFA, a good friend of Li, introduces him to representatives from Capital Investments, who submitted a proposal. Li selected Capital as a manager based on the firba's excellent performance record. Shortly after the selection, Cheng, who had outstanding performance as an equity manager with another firm, accepted a lucrative job with Capital. Have Li and Chen, respectively, violated any CFA Institute Standards of Professional Conduct? . Li Chen ①A. No No
②B. No Yes
③C. Yes No
单选题A companys data are provided in the following table:
Cost of debt
10%
Cost of equity
16%
Debt-to-equity ratio (D/E)
50%
Tax rate
30%
The weighted average cost of capital(WACC) is closest to: