单选题The step in the financial statement analysis framework of "processing the data" is least likely to include which activity? A. Acquiring the company' s financial statements. B. Making appropriate adjustments to the financial statements. C. Preparing exhibits such as graphs.
单选题The security market line(SML) will resemble a band with fairly tight upper and lower bounds if the following assumptions are made. Which of the following should not be included in this list? A. Transaction costs. B. Differences in investor tax brackets. C. Unequal borrowing and lending rates.
单选题Michael Vincent and Elizabeth Matthews, economists at Macro Associates, conduct research into the effects of fiscal policy on the economy. Vincent states that government taxing decisions affect the supply of labor. Matthews contends that government taxing decisions affect potential GDP. Regarding the statements made by Vincent and Matthews: Vincent Matthews ①A. Correct Incorrect ②B. Incorrect Correct ③C. Correct Correct
单选题Robert Johnson, CFA, is considering the purchase of two stocks from different industry. Each stock has an expected return of 12.5 percent and an expected standard deviation of returns of 16 percent. Which of the following statements Johnson said about the two stocks is most accurate?
单选题Which of the following does the U.S. central bank most often use to change the money supply?
单选题An analyst has been hired to evaluate a high-risk project. The analyst estimates the probability that the project will fail in the first year as well as the conditional probability of failure for each of the remaining four years of the project, as follows:
单选题A put with a strike price of $45 sells for a premium of $3. Which of the following statements is least accurate?
单选题Which of the following is most accurate? With respect to accepting gifts from clients, CFA members: A. may not accept business-related entertainment. B. may accept modest giftsbelow $ 100 per gift without any disclosure. C. must disclose to their employers benefits previously accepted from clients if notification is not possible prior to acceptance.
单选题Compared to European call options on an asset with no cash flows, an American call option: A. will have a lower, lower bound on its price. B. will have the same lower bound on its price. C. will have a higher, lower bound on its price.
单选题An analyst does research about capital structure. The optimal capital structure for a company is best described as the capital structure to maximize that company's: A. stock price. B. earnings per share. C. dividends per share.
单选题An analyst gathers the following data for a company to estimate the expected growth rate of dividends and use it as an input for valuing the company"s common stock.
return on assets (ROA)
10%
profit margin
5%
financial leverage
1.67
payout ratio
25%
The company"s expected growth rate is closest to:
单选题A portfolio manager decides to temporarily invest more of a portfolio in equities than the investment policy statement prescribes, because he expects equities will generate a higher return than other asset classes
单选题Beta can be viewed as:
单选题Monopolists will maximize profit by producing at an output level where which of the following conditions exists? A. Price = marginal revenue = marginal cost. B. Price = demand = marginal revenue = marginal cost. C. Marginal revenue = marginal cost ＜ price.
单选题
已知某投资者购进某公司的1000只股票，相关法律规定的初始保证金率为50%，维持保证金率为25%。如果全额进行保证金交易，则该股票的市场价格为每股30美元。试根据上述信息解答问题。
单选题Using the following US Treasury spot rates
单选题A columnist is discussing how the efficient quantity of output for a good or service is determined. These two statements appear in his column: Statement 1: The equilibrium quantity of production for a good or service can be considered efficient as long as the marginal social benefit of that quantity is greater than its marginal social cost. Statement 2: Subsidies and quotas typically result in production of a good or service in quantities at which the marginal social cost exceeds the marginal social benefit. Are these statements correct? Statement 1 Statement 2 ①A. Correct Correct ②B. Correct Incorrect ③C. Incorrect Incorrect
单选题For a 250-day investment security, if effective annual yield of 12.9%, then the money market yield is closest to: A. 6.02% B. 12.48% C. 12.66%
单选题Which of the following are most likely handled prospectively, with the change affecting the financial statements for the period of change and future period? A. Changes in accounting policies. B. Changes in accounting estimates. C. Correction of an error for a prior period.
单选题A company paid a $1.5 dividend last year. The company is expecting dividends to grow at a 5% rate in the future. What is the value of the value of this stock if an investor requires a 12% rate of return on this stocks of this risk class?