单选题The write-off of obsolete equipment would be classified as:

单选题Jane Acompora is calculating equivalent annualized yields based on the 1.3% holding period yield of a 90 - day loan. The correct ordering of the equivalent annual money market yield MMY), effective annual yield ( EAY), and bond equivalent yield (BEY) is:

单选题Which of the following is a disadvantage of using price-to-sales (P/S) multiples in stock valuations? A. P/S multiples are more volatile than P/E multiples. B. The use of P/S multiples can miss problems associated with cost control. C. P/S multiples are not available for all firms, unlike the P/E ratio.

单选题Using a discount rate of 5%, compounded monthly

单选题An analyst does research about security market indices and gathers the following information about market-capitalization-weighted index consisting of the shares of three companies: Company BeginningShare Prices EndingShare Prices DividendsPer Share SharesOutstanding A $26 $21 $1.60 300 B $51 $46 $2.10 300 C $11 $13 $3.10 400 The price retum on the index is closest to: A. -16.55% B. -8.00% C. 0.55%

单选题David Hoch, a graduate student at Miami University, is putting together a research paper on differences in asset allocations between countries. Hoch's paper contains the following statements: Statement 1: Countries with higher income tax rates typically have lower allocations to bonds. Statement 2: Countries with older populations typically have lower allocations to equities. Statement 3: A strong government pension program may decrease the average equity allocation of a country's citizens. Statement 4: Countries with an historical aversion to financial risk typically have lower allocations to equities. Hoch's finance professor, Walter Denk, reads his research paper. Which of the following conclusions would be most valid for Denk to make? A. Statement 2 reflects a common reason why average asset allocations differ across countries, but Statement 3 does not. B. Statement 1 reflects a common reason why average asset allocations differ across countries, but Statement 2 does not. C. Both Statements 1 and 4 reflect common reasons why average asset allocations differ across countries.

单选题Firms claiming compliance with the GIPS Standards are least likely to be required to: A. undertake a verification process. B. provide a composite list and description to any prospective client on request. C. document their policies and procedures used in establishing and maintaining compliance.

单选题An investor has the following assets: $ 5000 in bonds with an expected return of 8%. $ 10000 in equities with an expected return of 12%. $ 5000 in real estate with an expected return of 10%. What is the portfolio's expected return? A. 10.00%. B. 10.75%. C. 10.50%.

单选题Gordon is a CFA charter holder and the pension fund manager for a workers union. The union president informed him that during a union meeting today with Zinc Limited he learned that Zinc will announce several plant closings tomorrow. Because the workers union pension has a sizable position in Zinc, the union president wants Gordon to sell the pensions holdings in Zinc today before the announcement is made publiC．Gordon should（ ）

单选题At the time a forward contract is initiated, which of the following is/are agreed upon by the two parties ? A. The good to be exchanged and the price at which the exchange will be made. B. The time at which the exchange will take place. C. All of above are agreed upon.

单选题For a futures trade:

单选题Consider the following Treasury spot rates expressed as annual bond equivalent yields: Maturity Spot Rate 6 months 1 gear 1.5 years 3.0% 3.5% 4.0% 4.5% Two Treasury notes each with $1000 par values have two years remaining to maturity. Allowing for rounding to the nearest dollar, Treasury note 1 hasA. 4% semiannual coupon and is priced at $991, and Treasury note 2 hasA. 5% semiannual coupon and is priced at $1008. What can you conclude about the market prices of these two notes? Treasury note 1 Treasury note 2 A. Correctly priced Underpriced B. Overpriced Underpriced C. Correctly priced Correctly priced

单选题In a period of rising prices, when compared with a company that uses weighted average cost for inventory, a company using FIFO will most likely report higher values for its:

单选题An analyst does research about common probability. A return distribution has a mean of 1.8% and a variance of 2.25. If returns are normally distributed, the probability of observing a return value less than -1.2% is closest to: A. 1.0% B. 2.5% C. 5%

单选题A set of rules used to select a sample is most likely described as: A. sampling plan. B. sampling error. C. sample statistic.

单选题Which of the following is least likely a benefit of the direct method for reporting cash flow from operating activities? Compared with the indirect method, the direct method provides:

单选题In 1995, the CFA Institute sponsored and funded the Global Investment Performance Standards (GIPS) in response to : A. an increase in insider trading. B. new regulation passed by the SEC. C. a need to address issues, such as portability of investment results.

单选题A CFA charter holder in a managerial position is in the process of hiring new analysts. If the charter holder conducts background checks on the job applicants with respect to their character, the charter holder has（ ）

单选题Which of the following organizational structures is subject to double taxation?

单选题An order to buy or sell a stock at the best current price is a: A. limit order. B. floor order. C. market order.