单选题The real risk - free rate can be thought of as : A. approximately the nominal risk -free rate plus the expected inflation rate. B. approximately the nominal risk -free rate reduced by the expected inflation rate. C. exactly the nominal risk -free rate reduced by the expected inflation rate.

单选题The production of a rock concert is an example of which type of organization of an economic activity? A. Finn coordination. B. Market coordination. C. Economic coordination.

单选题Accrued expense is most likely recorded by a company if cash is paid: A. before expense has been incurred. B. at the same time expense has been incurred. C. after expense has been incurred.

单选题Elise Corrs, hedge fund manager and avid downhill skier, was recently granted permission to take a 4 month sabbatical. During the sabbatical, (scheduled to start in 11 months), Corrs will ski at approximately 12 resorts located in the Austrian, Italian, and Swiss Alps. Corrs estimates that she will need $ 6000 at the beginning of each month for expenses that month. (She has already financed her initial travel and equipment costs. ) Her financial planner estimates that she will earn an annual rate of 8.5 percent during her savings period and an annual rate of return during her sabbatical of 9.5 percent. How much does she need to put in her savings account at the end of each month for the next 11 months to ensure the cash flow she needs over her sabbatical? Each month, Cons should save approximately: A. $ 2065. B. $ 2070. C. $ 2080.

单选题A company records the following two transactions: Ⅰ. $ 300 000 of rental revenue is received in advance on a two-year lease. It is taxed on a cash basis, but deferred for accounting purposes. Ⅱ. $500 000 of installment sales. No payments are required for one year after which collections will be made on an equal basis over 12 months and taxed on a cash basis. The entire sale and related profit will he recognized for financial reporting purposes in the year of sale. Which of the above transactions will most likely give rise to a deferred tax liability on the balance sheet?

单选题If firms and households decide to reduce their currency holdings and increase their holdings of funds in their checking accounts by an equal amount, what will be the impact on the money supply if the U.S. Federal Reserve does not undertake any offsetting actions? A. There will be no direct or indirect impact on the money supply because the decrease in currency holdings will be exactly offset by the increase in the funds in the checking accounts. B. There will be no direct impact on the money supply, however, banks' excess reserves will decrease, which will cause them to decrease their loans, thereby leading to an indirect decrease in the money supply. C. There will be no direct impact on the money supply. However, banks' excess reserves will increase, which will enable them to increase their loans, thereby leading to an indirect increase in the money supply.

单选题An analyst has gathered the following information about a company:

单选题A firms price-to-earnings ratio (P/E) is 12

单选题A company issued an annual-pay bond with the following characteristics:

单选题In a recent economic forum meeting, Jason Federmeyer of the Bank of Detroit, and Lawrence Lobovsky of the Bank of Tulsa, were discussing the demand for money and how it has changed over the years. Federmeyer made the following two statements to Lobovsky: Statement 1: Financial innovation has significantly affected the demand for money. The increased use of credit cards and debit cards, interest-bearing checking accounts, internet banking and even the large number of ATMs around the world have all helped to increase the demand for money above what it would have been if only the increase in real GDP were at work. Statement 2: Although the quantity of money demanded is largely determined by interest rates, the supply of money is determined by the central bank and is independent of interest rates. Are Statement 1 and Statement 2 as made by Federmeyer correct? Statement 1 Statement 2 ①A. Incorrect Incorrect ②B. Correct Incorrect ③C. Incorrect Correct

单选题Which of the following statements regarding inflation is most accurate? A. The purchasing power of money increases as a result of inflation. B. Inflation has no effect on the real economic output. C. Inflation is a persistent increase in the general price level of goods and services.

单选题A firm in a perfectly competitive industry that seeks to maximize profit is most likely to continue production in the short run as long as which of the following conditions exists? Price is equal to or greater than : A. average fixed cost. B. average total cost. C. average variable costs.

单选题the expected dividend payout ratio of a firm is expected to rise from 50 percent to 55 percent, the cost of equity is expected to increase from 10 percent to 11 percent, and the firm's growth rate remains at 5 percent, what will happen to the firm's price-to-equity (P/E) ratio? It will:

单选题Cristiano Ronaldo, CFA, is a mutual fund portfolio manager at Bengal International Investment. The fund is focused on the global financial services sector. According to the Standards of Professional Conduct relating to Duties to Employers, which of the following statements is most accurate? If Ronaldo leaves Bengal Intemational Investment to join Jason Investment Management Corporation, a competitor of Bengal, all of his research records: A. can be recreated at Jason from his memory, provided no records are taken from Bengal. B. are the property of Bengal and cannot be taken without Bengal's permission. C. may be taken to Jason,provided he is the sole author of the research.

单选题Which of the following statements concerning Board committees is FALSE? A. The audit committee has authority over the procedures used to audit the entire corporate group including subsidiaries and affiliates. B. The compensation committee should consist of independent members and link executive compensation to long-term performance. C. Members of the audit committee should be independent experts in accounting and finance.

单选题A stock, which currently does not pay a dividend, is expected to pay its first dividend of $1.00 in five years (D5=$1.00). Thereafter, the dividend is expected to grow at an annual rate of 25 percent for the next three years and then grow at a constant rate of 5 percent per year thereafter. The required rate of return is 10. 3 percent. What is the value of the stock today? A. $20.65. B. $20.95. C. $22.72.

单选题Giselle Holt is a staff of the Professional Conduct Program of CFA Institute. In order to be compliance with the Code of Ethics and Standards of Professional Conduct, Holt is most directly responsible for which of the following activities : A. conducting investigations on CFA members or candidates who may have violated the Code of Ethics and Standards of Professional Conduct. B. conducting hearing panel relating to proposed sanctions on CFA members or candidates. C. updating the code of ethics and the professional conduct annually to ensure they are effective.

单选题An expansionary fiscal policy is least likely to include an increase in:

单选题In addition to the usual parameters that describe a normal distribution, to completely describe 10 random variables, a multivariate normal distribution requires knowing the:

单选题A company changes from an incorrect method of accounting to an acceptable one