单选题Two parties enter a three-year, plain-vanilla interest-rate swap agreement to exchange the LIBOR rate for a 10 percent fixed rate on $10 million. LIBOR is 11 percent now, 12 percent at the end of the first year, and 9 percent at the end of the second year. If payments are in arrears, which of the following characterizes the net cash flow, to be received by the fixed-rate payer?

单选题Mason Webb makes the following statements to his boss, Laine DeWalt about the principles of capital budgeting

单选题An investor buying bonds on margin: A. must pay interest on a loan. B. actually lends the bonds to a bank or brokerage house. C. is not restricted by government regulation of margin lending.

单选题If a company has a net profit margin of 15 percent, an asset turnover ratio of 4.5 and a ROE of 18 percent, what is the equity multiplier?

单选题An analyst gathered the following information about two common stocks: Variance of returns for the Libby Company = 15.5 Variance of returns for the Metromedia Company = 22.3 Covariance between returns for the two common stocks is close to: The correlation coefficient between returns for the two common stocks is closest to:

单选题According to the Keynesian view, an increase in which of the following would most likely decrease current aggregate demand?

单选题Danielle Deschutes, CFA, is a portfolio manager who is part of a 10-person team that manages equity portfolios for institutional clients

单选题An investor wants to purchase a small office building and gets the following information: Gross potential rental income $250000 Estimated vacancy and collection loss rate 5% Insurance $10000 Taxes $8000 Utilities $7000 Maintenance $15000 Assume the investor purchases the building for $1850000, putting down 20% cash and financing the remainder with a long-term mortgage at a rate of 10%. The annual payments on the mortgage are $156997, and the interest portion is fully deductible for income tax purposes. The investor's marginal income tax rate is 28%. Depreciation per year, using the straight-line method, is estimated to be $45000 per year. The after-tax cash flow for the first year is closest to: A. $197500 B. $3924,3 C. $38991

单选题New disposal fees for toxic chemicals used in producing plastic house plants have increased production costs by $ 0.28 per plant for all manufacturers in the industry. The most likely effects on the industry supply curve and total producers' surplus in the market for plastic house plants are: Industry supply Producers' surplus ①A. shifts left increases ②B. shifts left decreases ③C. shifts right decreases

单选题Jason, CFA, works for a regional brokerage firm. He estimates that RHG company will increase its dividend by $1.50 a share during the next year. He realizes that this increase is contingent on pending legislation that would, if enacted, give RHG a substantial tax break. The U.S. representative for RHG"s home district has told Jason, that, although she is lobbying hard for the bill and prospects for passage look good, Congress"s concern over the federal deficit could cause the tax bill to be voted down. RHG has not made any statements regarding a change in dividend policy. Jason writes in his research, "We expect RHG"s stock price to rise by at least $8.00 a share by the end of the year. Because the dividend will increase by $1.50 a share, the stock price gain will be fueled, in large part, by the increase in the dividend. Investors buying the stock at the current time should expect to realize a total return of at least 15 percent on the stock." According to Standards:

单选题There is a group of stocks containing 7, 8, 9, 10, 10, 10, 11, 12, 13 and 30. Which of the following statement about the distribution is TRUE? A. In this distribution the median is 12. B. This distribution's arithmetic mean is 10 and the median is 11. C. The distribution is skewed to the right and the mean is greater than the mode.

单选题A Type Ⅰ error: A. rejects a true null hypothesis. B. rejects a false null hypothesis. C. fails to reject a false null hypothesis.

单选题When real interest rates fall as a result of an unexpected expansionary monetary policy of government: A. aggregate demand decreases leading to both an increase in current output and higher prices in the short run. B. aggregate demand increases leading to both an increase in current output and higher prices in the short run. C. aggregate demand increases leading to both a decrease in current output and higher prices in the short run.

单选题Which of the following practices should be included in a firm's code of ethics? A. Providing the board with relevant corporate information in a timely manner and allowing board members or other insiders to purchase stock before shareholders can make purchases. B. Neither providing the board with relevant corporate information in a timely manner or prohibiting board members or other insiders from purchasing stock before shareholders can make purchases. C. Providing the board with relevant corporate information in a timely manner and prohibiting board members or other insiders from purchasing stock before shareholders can make purchases.

单选题Which of the following is most consistent with the best practices of corporate governance?

单选题Which of the following statements regarding exchange-traded derivatives is FALSE? Exchangetraded derivatives : A. are illiquid and have secondary markets. B. are standardized contracts. C. often trade in a physical location.

单选题The recent creation of indexes tracking both stocks and bonds provides better benchmarking information for which of the following portfolios? A. sector index funds. B. the typical stock mutual fund. C. investment funds broadly diversified across asset classes.

单选题With respect to the Dupont analysis, if a company's return on equity is 20% and return on assets is 12.5%, the company's debt-to-equity ratio is closest to: A. 0.60 B. 0.63 C. 1.67

单选题Updated information on a companys performance and financial position since the last annual report is most likely found in:

单选题Assuming no short selling, diversification benefit is most likely to occur when the correlations among the securities contained in the portfolio are: