单选题Participating preference shares are least likely to entitle the shareholders to participate in:
单选题Corporate governance is the set of internal controls, processes and procedures defining how a firm is managed. Which of the following statements concerning corporate governance is FALSE? A. Corporate governance defines the appropriate rights, roles and responsibilities of management, the board, and stakeholders within a firm. B. Good corporate governance means that the board can work effectively with management. C. Good corporate governance practices seek to ensure that the board protects shareholder interests.
单选题Which of the following is least accurate regarding a bank discount yield?
单选题Which of the following reasons is the best reason NOT to enhance the
credit quality of an asset backed security (ABS) pool?
A. Liquidity.
B. Regulatory.
C. Cost.
单选题Theeffectiveannualizedcost(%)ofabankersacceptancethathasanall-inclusiveannualrateof5.25%foraone-monthloanof$2,000,000isclosestto:
单选题The most relevant definition for duration is: A. the first derivative of the security's price. B. a security's price sensitivity to changes in yield. C. the weighted-average time until receipt of the present value of cash flows.
单选题An analyst gathered the following data about a company: The company had 500000 shares of common stock outstanding for the entire year. The company' s beginning stock price was $40, its ending price was $ 60, and its average price is $ 50. The company has 120000 warrants outstanding for the entire year. Each warrant allowed the holder to buy one share of common stock at $ 45 per share. How many shares of common stock should the company use in computing its diluted earnings per share ?
单选题The stock of G BK Corporation has a beta of 0
单选题Which type of unemployment describes situations where qualified workers
are not immediately matched with existing job openings?
A. Structural.
B. Cyclical.
C. Frictional.
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:
A. 5.20%.
B. 7.90%.
C. 10.40%.
单选题Joe Savvy wishes to speculate in March wheat futures by selling one contract Prior to selling the one contract, Joe had no position in wheat futures at all. He sells to Billy Bland who already had a short position in the March wheat futures contract. His sale of one futures contract will produce : A. one contract of volume. B. one contract of open interest. C. both A and B.
单选题From a theoretical perspective, even though the assumption that investors can borrow and lend at the same (risk-free) rate is violated, a straight-line capital market line can still be constructed if: A. investors are risk neutral. B. there are no transaction costs. C. a zero-beta portfolio exists and yields more than the risk-free rate.
单选题The least appropriate security for investing short-term excess cash balances would be:
单选题Tamlorn Mager, CFA, is an analyst at Pyallup Portfolio Management
单选题An analyst does research about valuation models. With respect to equity valuation models, valuation working well for companies that do not have a high proportion of intangible or "off the books" assets and that do have a high proportion of current assets and current liabilities is best categorized as a(n): A. multiplier model. B. discounted cash flow model. C. asset-based valuation model.
单选题The following information relates to an investor's positioning
the futures market:
Initial futures price per contract on Day 0
$100
Initial margin requirement per contract
$5
Maintemance rnmargin requirement
$3
Number of contracts held by the investor
$10
Position taken by the investor
Long
Settlement price per contract on Day 1
$97 If the investor
deposited enough funds to just meet the initial margin requirement, the amount
of funds that the investor would be required to deposit on Day 2 is closest to:
A. $0.
B. $10.
C. $25.
单选题Which of the following statements concerning the persistence of pricing anomalies is least likely to be correct? A. Arbitrageurs may exploit opportunities down to the point where the remaining mispricing is approximately equal to transactions costs. B. If the shares of an IPO cannot be shorted, mispricing may be difficult to exploit. C. Small profit opportunities are difficult to exploit in the absence of derivative securities.
单选题Ananalystdoesresearchaboutreturnandrisk.Givennomajorchangeinassetriskcharacteristics,willadecreaseinthewillingnessofinvestorstoacceptrisktypicallyresultinanincreasein:
单选题The earnings multiplier model, derived from the dividend discount model, expresses a stock's P/E ratio (P0/E1) as the: A. expected dividend in one year divided by the difference between the required return on equity and the expected dividend growth rate. B. expected dividend payout ratio divided by the sum of the expected dividend growth rate and the required return on equity. C. expected dividend payout ratio divided by the difference between the required return on equity and the expected dividend growth rate.
单选题Which of the following would NOT be found in the statement of stockholders' equity? A. Extraordinary items. B. The cumulative effect of exchange rate changes. C. The minimum liability for under funded pension plans.