单选题 Use a stated rate of 9 percent compounded periodically to
answer the following three questions. Select the choice that is the closest to
the correct answer.
单选题An analyst computes the following ratios for Iridescent Carpeting Inc. and compares the results to the industry averages:
Financial Ratio
Iridescent Carpeting
Industry Average
Current Ratio
2.3x
1.8x
Net Profit Margin
22%
24%
Return on Equity
17%
20%
Total Debt / Total Capital
35%
56%
Times Interest Earned
4.7x
4.1x Based on the above data, which of the following can the analyst conclude? A. Iridescent Carpeting has better short-term liquidity than its competitors. B. Iridescent Carpeting has stronger profitability than its competitors. C. Iridescent Carpeting has more financial risk than its competitors.
单选题Kim Stone, CFA, works at trading desk in Howard Hedge Funds. Samuel Peter, a chief investment manager for Howard has instructed Stone to sell a large amount of one stock based on an inside information of significant legal disputes. Peter inadvertently heard the information from a company's president in an elevator. Stone is unaware that Peter got this information. Stone accepts the trade instruction and completes the order. Has Stone most likely violated the Standards of Professional Conduct? A. No. B. Yes, with respect to responsibilities of supervisors. C. Yes, with respect to material nonpublic information.
单选题According to the liquidity preference theory, which of the following
statements is least accurate?
A. All else equal, investors prefer short-term securities over long-term
securities.
B. Investors perceive little risk differential between short-term and
long-term securities.
C. Borrowers will pay a premium for long-term funds to avoid having to roll
over short-term debt.
单选题Which of the following statements about the security market line (SML) and capital market line (CML) is most accurate?
单选题An analyst does research about financial ratios and learns POP manufacturing company has financed its short-term liquidity by issuing debt. Which of the following ratios most likely has the greater sensitivity to a change in shareholders' equity? A. Sale-to-asset. B. Debt-to-equity. C. Debt-to-capital.
单选题For which of the following securities is estimating the future cash flows least difficult? A. 5-year, 6% bond with two years of call protection. B. 3-year note with a coupon of Libor + 100 basis points. C. 8% preferred stock with mandatory redemption in five years.
单选题An analyst gathered the following data about stocks J, K and L, which together form a value-weighted index:
单选题The supply of financial capital is least likely to be influenced by which of the following?
单选题Which is the only type of commodity where trading in forward contracts is larger than trading with future contracts?
单选题Which of the following is the appropriate redemption price when bonds
are called according to the sinking fund provision?
A. Special redemption price.
B. Regular redemption price.
C. General redemption price.
单选题BLD Inc. produces pure bottled water. The industry has experienced rapid growth as fitness conscious consumers demand these types of products. The growth has attracted many competitors to the industry. However, marketing campaigns to differentiate their products have proven unsuccessful. The main cost to producers is the filtering system that is required to purify the water. The demand for the filtering systems, as a result of industry growth, has led to a reduction in the cost of the systems. Indicate whether the pure bottled water market is best described as a price searcher or price taker and state whether the long-run supply curve is downward-or upward-slopping. Pure bottled water maker Long run supply curve ①A. Price searcher Downward-sloping ②B. Price taker Downward-sloping ③C. Price searcher Upward-sloping
单选题The supply of a renewable resource is:
单选题Suppose that the demand curve for soybeans shifts such that the equilibrium price of soybeans decreases 58 percent. At the new equilibrium price, the quantity that soybean suppliers are willing to provide decreases by 3 percent. Which of the following most accurately describes the elasticity of supply for soybeans? Elasticity of supply Relative elasticity A. -0.05 Elastic
B. +0.05 Inelastic
C. +19.33 Inelastic
单选题Under U.S. GAAP, interest paid is most likely included in which of the following cash flow activities?
单选题If an analyst adjusts the financial statements and capitalizes an operating lease the analyst will observe that the: A. current ratio will increase. B. times interest earned ratio will decrease. C. acid test ratio will increase.
单选题Which of the following could increase the current ratio?（ ）
单选题Based on put-call parity for European options, a synthetic put is most likely equivalent to a:
单选题Which one of the following structures is characterized by free entry
and exit, a differentiated product, and price searcher behavior?
A. Oligopoly.
B. Monopolistic competition.
C. Pure competition.
单选题The net asset value (NAV) of an open-end fund is determined by the: