单选题All of the following statements regarding interest-rate options are true EXCEPT: A. they are based on a fixed income security and can hedge interest rate risk. B. they are based on a specific interest rate rather than a bond. C. call option values move in the same direction as interest rates.

单选题A Treasury bill with a face value of $1000000 and 45 days until maturity is selling for $987000. The Treasury bill's bank discount yield is closest to:

单选题A stock priced at $100 has a 70 percent probability of moving up and a 30 percent probability of moving down. If it moves up, it increases by a factor of 1.02. If it moves down, it decreases by a factor of 1/1.02. What is the probability that the stock will be $100 after two successive periods? A. 9%. B. 42%. C. 21%.

单选题According to the supply-side view of fiscal policy, if the impact of tax revenues is the same, does it make any difference whether the government cuts taxes by either reducing marginal tax rates or increasing the personal exemption allowance?

单选题The eight major provisions of the Global Investment Performance Standards (GIPS) leastly include :

单选题What is the Cost of Goods Sold using the Weighted Average Method?

单选题Which of the following statements about notional principal in plain vanilla interest rate swaps is least accurate? Notional principal: A. is not exchanged by the counterparties. B. is determined by the counterparties. C. is used to calculate the fixed rate interest payment ; the swap's market value is used to calculate the floating rate payment.

单选题A companys balance sheet at the end of the year shows the following: The companys quick ratio is closest to:

单选题Consider a corporate bond with a yield of 6. 8% and a municipal bond (with equivalent risk) with a 4.9% yield. Which of the following statements is TRUE? A. An investor with a marginal tax rate of 40% prefers the corporate bond. B. An investor with a marginal tax rate of 15% prefers the municipal bond. C. An investor with a marginal tax rate of 28% is indifferent between the two bonds.

单选题In a given firm, skilled workers currently produce three times as much of its product as unskilled workers do per hour worked. Skilled workers earn $25 per hour, and unskilled workers earn $12 per hour. Based on this information, the firm should: A. increase the use of skilled workers and decrease the use of unskilled workers. B. decrease the use of skilled workers and increase the use of unskilled workers. C. increase the salary of skilled workers to attract more of them.

单选题Which of the following financial intermediaries are most likely to provide liquidity service to their clients?

单选题Financial derivatives also provide a powerful tool for limiting risks that individuals and firms face in the ordinary conduct of their business. This is an example of:

单选题The January Anomaly, the neglected firm effect, and the book value/market value ratio are studies examining which form of the EMH?? A. Weak-form of the EMH. B. Strong-form of the EMH. C. Semistrong-form of the EMH.

单选题What is the impact on accounts receivable if sales exceed cash collections and what is the impact on accounts payable if cash paid to suppliers exceeds purchases? Accounts receivable Accounts payable ①A. Increase Decrease ②B. Increase Increase ③C. Decrease Decrease A. ① B. ② C.③

单选题An analyst gathers the following information about Monument State Bank: Demand deposits $ 400 million. Loans and securities $ 260 million. Reserve requirement 10%. The bank has a total of $ 50 million in cash and deposits with the Federal Reserve. Monument Stare Bank is in a position to make additional loans of: A. $ 5 million. B. $10 million. C. $ 26 million.

单选题As a monetary policy tool, quantitative easing (QE) will most likely help revive an ailing economy in which of the following environments?

单选题In a sales-driven pro forma analysis, net income grows from $1

单选题An analyst does research about market structures. With respect to traditional oligopoly model, which of the following is least accurate? The kinked demand curve model assumes: A. that there is a break in the marginal revenue curve. B. that the price decreases by one firm is followed by its peers. C. that the price and quantity are sensitive to small cost changes.

单选题An analyst does research about capital structure and gathered the following information about a company: ·Return on assets is 5.0% ·Financial leverage (Total assets/equity) is 2.5 ·Beta for the company's stock is 1.5 If the company wants to achieve a growth rate of 10% without changing its capital structure or issuing new equity, the maximum dividend payout ratio for the company would be closest to: A. 10.0% B. 12.5% C. 20.0%

单选题An analyst does research about expected return and expect standard deviation of return from investment portfolio. Two assets have the same expected return and the same expected standard deviation of returns. The correlation coefficient of returns between the two assets is expected to be +0.6. Which of the following statements best describes the standard deviation of a portfolio composed of those two assets? If the two assets are combined to form a portfolio, the expected standard deviation of that portfolio will be: A. the same as the expected standard deviation of returns for each asset because the correlation coefficient of returns is positive. B. less than the expected standard deviation of returns for each asset because the correlation coefficient of returns is less than +1.0. C. unaffected by the portfolio weights used for each of the two assets because the assets have the same expected return and the same expected standard deviation of returns.