单选题Cost-push inflation is most likely caused by a(n): A. decrease in the tax rate. B. increase in government spending. C. increase in the real price of energy.
单选题To estimate the actual return of a bond when a callable bond's market
price is higher than par use:
A. YTC.
B. YTM.
C. HPY.
单选题An analyst does research about expansionary fiscal policy. An increase in a government's spending and a decrease in a government's tax will most likely cause a decrease in: A. private saving only. B. private investment only. C. both private saving and private investment.
单选题Assume 100 shares purchased at $75/share with an initial margin of 50 percent. The initial cost to the investor is:
单选题An internal evaluation of the trading behavior of three fund managers of a mutual fund company during the past year has revealed the following:
Which of the three managers most likely displayed the disposition effect bias?
单选题Fern Baldwin, CFA, as a representative for Fernholz Investment
Management, is compensated by a base salary plus a percentage of fees generated.
In addition, she receives a quarterly performance bonus on a particular client's
fee if the client's account increases in value by more than 2 points over a
benchmark index. Baldwin had a meeting with a prospect in which she described
the firm's investment approach but did not disclose her base salary, percentage
fee, or bonus. Baldwin has :
A. violated the Standards by not disclosing her salary, fee percentage, and
performance bonus.
B. violated the Standards by not disclosing her performance bonus.
C. not violated the Standards because employment compensation arrangements
are confidential and should not be disclosed to clients.
单选题Which of the following statements is most accurate with respect to rebalancing and reconstitution of security market indices?
单选题Sarah Parker is buying a new $ 25000 car. Her trade - in is worth $5000 so she needs to borrow $ 20000. The loan will be paid in 48 monthly installments and the annual interest rate on the loan is 7.5%. If the first payment is due at the end of the first month, what is Sarah's monthly car payment?
单选题Which of the following would be counted as structural unemployment?
单选题When a futures trader receives a margin call what must he or she do to bring the position up to the initial margin? The futures trader must:
单选题The duration of a fixed-income portfolio is best interpreted as the:
单选题Which of the following statements about moneyness is FALSE? When: A. S - X ＞ 0, a call option is in-the-money. B. S -X = 0, a call option is at-the-money. C. S - X ＞ 0, a put option is in-the-money.
单选题Beth Kozniak, a CFA candidate, is an independent licensed real estate broker and a well-known property investor
单选题Which of the following statements concerning market structure and HerfindahI-Hirschman Index (HHI) is most accurate?
单选题Selected financial information gathered from the Matador Corporation follows:
2007
2006
2005
Average debt
$ 792000
$ 800000
$ 820000
Average equity
$ 215000
$ 294000
$ 364000
Return on assets
5.9%
6.6%
7.2%
Quick ratio
0.3
0.5
0.6
Sales
$1650000
$1452000
$1304000
Cost of goods sold
$ 1345000
$1176000
$1043000
Using only the data presented, which of the following statements is most correct?
单选题An analyst gathered the following information about four common stock that all have the same dividend payout ratio:
Stock
Required Rate of Return
Dividend Growth Rate
1
16.4%
7.1%
2
14.1%
9.2%
3
15.3%
4.4%
4
19.1%
8.0%
The lowest earnings multiplier (price earnings ratio) would most likely be associated with stock:
单选题Last year, a portfolio manager earned a return of 12%
单选题Under the pure expectations theory, an inverted curve is interpreted
as evidence that:
A. demand for long-term bonds is falling.
B. investors have very little demand for liquidity.
C. short-term rates are expected to fall in the future
单选题A company incurs the following costs related to its inventory during the year:
Cost
￥Millions
Purchase price
100,000
Trade discounts
5,000
Import duties
20,000
Shipping of raw materials to manufacturing facility
10,000
Manufacturing conversion costs
50,000
Abnormal costs as a result of wastematerial
8,000
Storage cost prior to shipping to customers
2,000
单选题Which of the following statements about how various embedded options benefit the issuers or the bondholders is least accurate? The: A. accelerated sinking fund provision favors the issuers. B. option-adjusted spread directly measures the value of the spread inclusive of the embedded option. C. conversion provision favors the bondholders if the stock price rises.