单选题Which of the following actions was least likely a warning sign of potential earnings manipulation disclosed in Sunbeam' s financial statement footnotes? A. A record level of earnings, yet operating cash flow was negative. B. Significant use of barter transactions. C. Receivables were increasing, but bad debt expense was decreasing.
单选题An analyst belongs to a nationally recognized charitable organization, which requires dues for membership. The analyst has worked out a deal under which he provides money management advice in lieu of paying dues. While performing services for the organization, the analyst discovers some useful computer programs that his predecessor developed and left as the property of the organization. The analyst decides to use the computer programs in his consulting business. This action is（ ）
单选题If a bond has a convexity of 60 and a modified duration of 10, the convexity adjustment associated with a 25 basis point interest rate decline would be:
单选题In the short run, the impact of an increase in the money supply on the price level and real output will be:
Price level Real output
①A. Increase Increase
②B. Increase No change
③C. No change Increase
A. ①B. ②C. ③
单选题If cash at the beginning of the year was 280, what is cash at the end of the year?
单选题Which of the following steps is NOT used in the full valuation
approach in measuring interest rate risk?
A. Estimate hypothetical changes in required yields.
B. Calculate the bond's convexity.
C. Recompute bond prices using the new required yields.
单选题In calculating the Standard & Poor's stock price indices, the adjustment for stock splits occurs: A. by adjusting the divisor. B. automatically, due to the manner in which the index is calculated. C. by adjusting the numerator.
单选题If the number of cars demanded in a city increased from 33000 to 34000 when the average price decreases from $25000 to $23000, the price elasticity of demand is:
单选题Under the classification system used by the U.S. Bureau of Labor Statistics, which of the following people would least likely be considered unemployed? Someone who: A. was terminated from his last job. B. quit his previous job and is looking for new work. C. is disabled and unable to return to work.
单选题 Question
The following information has been gathered regarding Williams Investing, which
uses the straight-line method for depreciation.
Depreciable life of 8 years on its assets. Net book
value of assets is $ 40 million. Accumulated depreciation is $
28 million. Salvage value is $12 million. It
recently revised the estimates for the remaining useful life of its assets from
4 years to 6 years. Net income before the change is $13
million. The effective tax rate for the firm is 40 percent.
单选题What is the present value of a 10 -year, $100 annual annuity due if interest rates are 0 percent?
单选题Nathan Edwards is preparing a training brochure for new employees at her asset management firm. Edwards feels that the new employees do not fully understand the relationships between portfolio standard deviation and individual security weights, standard deviations, and correlation. Edwards has prepared several statements on the matter in the context of a two stock portfolio. Which of the following statements is FALSE? The standard deviation of a two-stock portfolio: A. will be the lowest when the correlation between the two stocks equals zero. B. can be reduced by increasing the relative weight of the stock with lower standard deviation. C. will always increase as the correlation between the two stocks increases.
单选题An analyst is doing research about cash flow statement. On the cash flow statement, the acquisition of or sale proceeds from trading securities is categorized as a(n): A. investing activity. B. financing activity. C. operating activity.
单选题What is the semiannual-pay bond equivalent yield on an annual-pay bond with a yield to maturity of 12.51 percent?
单选题Which statement best describes the early exercise of American options? Early exercise may be advantageous for:
单选题
Using the above data
单选题A tax loss carry forward is best described as the（ ）
单选题If the price of product X increases from $2.00 per unit to $ 2.25 per
unit, the demand will decrease from 7.5 million units to 6.7 million units. What
is the price elasticity of demand for the product, and is the demand for the
product elastic or inelastic?
A. -1.04; elastic.
B. -0.96; elastic.
C. -0.96; inelastic.
单选题An analyst does research about equity valuation and gathered the following annual data for a company: ·Return on assets is 8.0% ·Financial leverage is 1.25 ·Net income for 2012 is $20000000 ·Dividends paid on common stocks during 2012 (D0) is $4000000 ·Shares of common stock outstanding is 2000000 ·Required rate of return on the company's common stock is 14.5% If the growth rate in dividends is constant, the value of a share of the company's common stock at the beginning of 2013 is closest to: A. $30.77 B. $33.23 C. $44.44
单选题An unexpected change in the rate of inflation causes: