单选题An investor purchases a property for $1000000, financing 92 percent of the purchase price. He plans to sell the property four years later for $1200000. The expected net cash flows for the investment are as follows:
单选题Which of the following statements is most accurate with respect to the
measures of the money supply?
A. When a firm writes a check to an individual, the M1 measure is
increased.
B. When an individual pays for a transaction at a business with a credit
card, the M2 measure is increased.
C. M2 includes M1 plus time deposits, savings deposits, and money market
mutual fund balances.
单选题According to capital asset pricing model( CAPM), if an investor holds a portfolio that lies on the capital market line(CML) to the right of the market portfolio, that investor should expect that his portfolio will: A. earn less return than on the market portfolio. B. earn more return than on the market portfolio. C. have less systematic risk than the market portfolio.
单选题Kirsten Thompson, CFA candidate, is studying the relationships between a bond's coupon rate and the required market yield. One study question concerns a new-issue, 15-year, $1000 face value 6.75 percent semi-annual coupon bond priced at $1075. Which of the following choices correctly describes the bond and accurately represents the relationship of the bond's market yield to the coupon? A. Premium bond, required market yield is less than 6.75%. B. Premium bond, required market yield is greater than 6.75%. C. Discount bond, required market yield is less than 6.75%.
单选题What is the price-weighted index of the following three stocks?
单选题Camphor Associates uses acerual basis for financial reporting purposes and cash basis for tax purposes. Cash collections from customers is $ 238000, and accrued revenue is only $188000 Assume expenses at 50 percent in both eases (i. e. $119000 on cash basis and $ 94000 on accrual basis) , and a tax rate of 34 percent. What is the deferred tax asset/liability in this case? A deferred tax:
单选题An analyst gathered the following information about a company:
●100000 common shares outstanding from the beginning of the year.
●Earnings of $125000.
●1000, 7%, $1000 par bonds convertible into 25 shares, outstanding from the beginning of the year.
●The tax rate is 40%.
The company"s diluted EPS is closest to:
单选题Most empirical studies of technical trading rules have found that past stock price patterns: A. do not repeat, and therefore technical analysis is profitable. B. repeat, and therefore technical analysis is not profitable. C. do not repeat, and therefore technical analysis is not profitable.
单选题Bill Gates, CFA, is a securities analyst covering transportation industry in a local broker. According to the Code of Ethics and Standards of Professional Conduct, which of the following recommended procedures to prevent violations of the Standards of Professional Conduct relating to priority of transactions is NOT accurate? A. Prohibit personal trading in the broker's recommended stock list. B. Fully disclose to investors the broker's policies regarding personal investing. C. Restrict investment personnel to participate on private placements.
单选题Leo Johnson is a Level Ⅲ candidate in the CFA Program and joins an online forum of candidates studying for the Level Ⅲ exam. Johnson writes on the forum: "Hi, I am a Level Ⅲ candidate in the CFA Program. A colleague who took the Level Ⅲ exam this June tells me that it's very difficult especially on the essay questions requiring tax calculation of personal investment policy statement" . Has Johnson most likely violated the Standards of Professional Conduct? A. No. B. Yes, by improperly referencing the CFA designation. C. Yes, by revealing confidential information about the CFA exam.
单选题Which of the following is least likely a part of the execution step of the portfolio management process?
单选题Which of the following statements is least likely an off-balance-sheet financing method?
单选题Which of the following institutions is NOT a government-sponsored enterprise (GSE)? A. Government National Mortgage Association. B. Student Loan Marketing Association. C. Federal National Mortgage Association.
单选题Which of the following statements about uncovered call options is least accurate? A. The loss potential to the writer is unlimited. B. The most the writer can make is the premium plus the difference between the exercise price (X) and the stock price (S). C. The profit potential to the holder is unlimited.
单选题In accounting for long-term construction contracts, the percentage-of-completion method is preferable to the completed contract method when: A. the contracts are of a relatively short duration (less than one year). B. lack of dependable cost estimates cause forecasts to be doubtful. C. estimates of the costs to complete and the extent of progress toward completion are reasonably dependable.
单选题An analyst does research about equilibrium quantity. As the quantity of a product supplied is lower than the equilibrium quantity, which of the following is most likely to increase? A. Deadweight loss. B. Producer surplus. C. Consumer surplus.
单选题Scooter has leased equipment for a period of 10 years with the following provisions: Lease payments $ 5000 per year Current value of equipment $ 45000 Estimated useful life of equipment 15 years Salvage value no salvage value after 15 years At the end of ten years, Scooter has the option to buy the equipment for $15000. The discount rate is 10 percent. Scooter should: A. capitalize this lease because the present value of the lease payments exceeds 90% of its fair market value. B. capitalize this lease because the lease term is less than 75% of the economic life of the equipment. C. treat this lease as an operating lease.
单选题An equity analyst has collected the following data for Apollo Television, Inc. for the year 2008:
单选题Which of the following is the least likely source of unreliability of a pricing anomaly?
单选题In setting the confidence interval for the population mean of a normal or approximately normal distribution and given that the sample size is small, Students t-distribution is the preferred approach when the variance is: