单选题Phil Trobb, CFA, is preparing a purchase recommendation on Aneas Lumber for his research firm. All of the following are potential conflicts of interest EXCEPT（ ）
单选题If the cost of goods sold increases and inventory decreases, the number of days of inventory most likely: A. decreases. B. remains unchanged. C. increases.
单选题In a sales-driven pro forma analysis, retained earnings is most accurately forecasted as:
单选题Which of the following is best classified as a forward commitment derivative?
单选题A stock is declining in price and reaches a price range wherein buying activity is sufficient to stop the decline
单选题The dirty, or full, price of a bond: A. applies if an issuer has defaulted. B. equals the present value of all cash flows, plus accrued interest. C. is paid when a security trades ex-coupon.
单选题With respect to inventory management: A. a decrease in a firm's inventory turnover means inventory management is of poor quality. B. a decrease in a firm's days of inventory on hand indicates better inventory management and can lead to increased profits. C. an increase in days of inventory on hand can be the result of either good or poor inventory management.
单选题Philip Fanara, CFA, gathered the following information about a real estate investment:
单选题A funded investor has a short-term investment returning a 7 percent return. The borrowing costs are 20 basis points above the reference rate. If the T-bill rate is 3 percent and the LIBOR rate is 3.5 percent, what is the investor's current profit on this investment?
单选题At a recent symposium, "The Great Economic Debate of the Decade" several panelists were asked to state their opinions on aggregate demand and aggregate supply.
Panelist 1 stated that he believed shifts in both aggregate demand and aggregate supply were driven primarily by changes in technology over time.
Panelist 2 stated that she believed the focus of economic policy should be to directly increase aggregate demand by increasing the money supply or through fiscal policy.
The views of Panelist 1 and Panelist 2 would best be described as which economic school of thought?
Panelist 1 Panelist 2
①A. Monetarist Classical
②B. Keynesian New Keynesian
③C. Classical Keynesian
A. ①B. ②C. ③
单选题An asset that will allow people to transfer purchasing power from one period to the next is known as a:
单选题根据下表所示的数据解答问题。
ACS公司股票在各年中的回报率
年份
2005
2006
2007
2008
2009
回报率(R)
15%
-7%
24%
15%
-18%
单选题What type of ratio is revenue divided by average working capital and what type of ratio is average total assets divided by average total equity? Revenue/Average working capital Average total assets/Average total equity ①A. Activity ratio Liquidity ratio ②B. Profitability ratio Liquidity ratio ③C. Activity ratio Solvency ratio
单选题Adding a stock to a portfolio will reduce the risk of the portfolio if the correlation coefficient is less than which of the following?
单选题A bond with a par value of $/00 matures in /0 years with a coupon of 45% paid semiannually; it is priced to yield 583% and has a modified duration of 78/ If the yield of the bond declines by 025% the approximate percentage price change for the bond is closest to:
单选题Under which pair of conditions is a factor of production least likely to earn economic rent?（ ）
单选题Which of the following statements about the value of a callable bond is FALSE? A. The value of the callable bond is less than the value of an option-free bond in an amount equal to the value of the call option. B. The value of a callable bond equals the value of the bond without the option plus the option value. C. The value of the call option is greater at lower yields so that as the yield falls, the difference in price between a straight bond and a callable bond increases.
单选题Which of the following is most likely a factor that influences the
elasticity of supply for a good?
A. The availability of substitute productive resources.
B. The price of the productive resources used to produce it.
C. The proportion of consumers' budgets spent on the good.
单选题Patch Grove Analytics is evaluating candidates for an economic analyst internship. To demonstrate his grasp of the effects of consumer behavior on aggregate demand, a candidate makes the following statements during his interview: Statement 1: The wealth effect occurs when consumers feel wealthier at higher price levels because their wages will also increase, and spend more in the current period as a result. Statement 2: Intertemporal substitution accounts for consumers' tendency to increase their planned purchases in the current period and decrease planned future purchases when interest rates increase. Are these two statements correct? Statement 1 Statement 2 ①A. Incorrect Incorrect ②B. Incorrect Correct ③C. Correct Incorrect
单选题ZhongYi Xie, CFA, a portfolio manager for PIA Investments, plans to manage the portfolios of several family members in exchange for a percentage of each portfolio' s profits. As his family members have requested that ZhongYi Xie provide the services outside his employment with PIA, he notifies his employer in writing of his prospective outside employment. Two weeks later, ZhongYi Xie has received no response from his employer and begins managing the family members' portfolios. By managing these portfolios, did ZhongYi Xie violate any CFA Institute Standards of Professional Conduct? A. No. B. Yes, because he failed to obtain written consent from his employer. C. Yes, because he failed to disclose the outside employment to his existing clients.