单选题Prudence Charmaine, a CFA charterholder, was recently accused in writing of cheating on a professional accounting exam
单选题Is monopolistic competition a market in which: each seller produces a differentiated product? compete on price, quality, marketing ? ①A. No No ②B. No Yes ③C. Yes Yes
单选题In 2005, Wilson, Inc. entered into a long-term construction contract with the Gordon School District to construct an elementary school for $ 20 million. The cost to complete the contract has been reliably estimated at $15 million. During 2005, costs of $ 7.5 million were incurred under the contract. A total of $ 9 million in advance billings were made and $ 5 million of those billings were received in cash. If Wilson used the percentage-of-completion method to account for this contract, Wilson, Inc.'s balance sheet as of December 31, 2005, will show a balance of: A. $ 4 million in the Net Construction-in-Progress asset account. B. $ 4 million in the Net Advance Billings liability account. C. $ 1 million in the Net Construction-in-Progress asset account.
单选题Teresa Avila, CFA is a micro cap investment analyst at a hedge fund
单选题The evidence suggests that the correlation of returns between U.S. government bonds and an index of international government bonds is: A. between 0.0 and -0.5, and that between indices of U. S. investment grade bonds is between 0.0 and 0.5. B. between 0.0 and 0.5, and that between indices of U. S. investment grade bonds is close to 1.0. C. between 0.0 and 0.5, and that between indices of U. S. investment grade bonds is between 0.25 and 0.75.
单选题During an onsite company visit, Yu Ding, CFA, accidentally overheard the Chief Executive office (CEO) of AMP, Inc., discussing the company's pending tender office to purchase Dynamica Enterprises, a retailer of stargazer products, According to the Standards of practice Handbook, Yu Ding may not use the Information to take investment action because: A. the information relates to a tender offer. B. acting on the information would breach a duty to bother the CEO and AMP. C. she does not have a reasonable and adequate basis for taking investment action.
单选题In the short run, an increase in output (marginal product) at low
levels of production will most likely cause:
A. an increase in the marginal cost clue to the rising total cost.
B. an increase in the marginal cost due to the law of diminishing
returns.
C. a decrease in the marginal cost due to economies from greater
specialization.
单选题An analyst does research about price multiples and gathers the following information about three companies in the same industry: Earnings Retention Ratio Required Rate of Return Company 1 30% 8% Company 2 40% 9% Company 3 50% 10% According to dividenddiscounted model (DDM), which company most likely has the highest price-to-earnings ratio? A. Company 1. B. Company 2. C. Company 3.
单选题A company decides to repurchase 5 million of its outstanding 20 million shares with debt funding
单选题Under US GAAP, interest paid is most likely included in which of the following cash flow activities?
单选题A company has convertible bonds with conversion price of $30 per share. The stock price is currently $35 per share. For analytical purposes, the bonds should be treated as:
单选题Which of the following statements about the importance of risk and return in the investment objective is least accurate?
单选题The put-call parity relation can be adjusted for dividend payments on a stock by which of the following methods? A. Add the present value of the expected dividend payments to the current stock price. B. Subtract the present value of the expected dividend payments from the exercise price. C. Subtract the present value of the expected dividend payments from the current stock price.
单选题Ian O'sullivan, CFA, is the owner and sole employee of two companies, a public relations firm and a financial research firm. The public relations firm entered into a contract with Mallory Enterprises to provide public relations services. According to the contract, O'Sullivan received 40000 shares of Mallory stock in payment for his services. Over the next 10 days, the public relations firm issued several press releases that discussed Mallory's excellent growth prospects. O'Sullivan, through his financial research firm, also published a research report recommending Mallory stock as a buy? According to the Standards of Practice Handbook, was O'Sullivan required to disclose his ownership of Mallory stock in the: Press release? Research report? ①A. No No
②B. No Yes
③C. Yes Yes
A．① B．② C．③
单选题A firm has the following characteristics: Relatively small in size Marginal revenue is equal to the selling price Economic profits will not be earned for any significant period of time The firm is best described as existing in a(n):
单选题An investor evaluating a companys common stock for investment has gathered the following data.
Earnings per share (2012)
$2.50
Dividend payout ratio (2012)
60%
Dividend growth rate expected during Years 2013 and 2014
25%
Dividend growth rate expected after Year 2014
5%
Investors required rate of return
12%
Using the two-stage dividend discount model, the value per share of this common stock in 2012 is closest to:
单选题The short-run supply curve for a purely competitive market:
单选题The marginal revenue product is best defined as the:
A. addition to total revenue from selling one more unit of output.
B. additional output produced by using one more unit of a productive
input.
C. gain in revenue from selling the output produced by using one more unit
of a productive input.
单选题A market is said to have external or informational efficiency if it features:
单选题Use the following financial data for Moose Printing Corporation to calculate the cash flow from operations (CFO) using the indirect method. Net income $ 225 Increase m accounts receivable 55 Decrease m inventory 33 Depreciation 65 Decrease in accounts payable 25 Increase m wages payable 15 Decrease m deferred taxes 10 Purchase of new equipment 65 Dividends paid 75