单选题According to the Management Discussion and Analysis section of Frankfurt Supply Company" s annual report, Frankfurt recently decreased the sales prices of its products in order to increase market share. In addition, Frankfurt recently lowered its requirements for credit customers and increased the credit limits of some customers. What is the most likely impact on Frankfurt" s accounts receivable turnover and inventory turnover as a result of these changes?
Accounts receivable turnover Inventory turnover
①A. Decrease Decrease
②B. Increase Increase
③C. Decrease Increase
单选题Alice Costain operates a convenience store in the financial district of London. ff Costain increases the price of a Magnim ice cream bar from 1.00 to 1.15, weekly sales decrease from 200 units to 180 units. Which of the following statements is most accurate? A. The price elasticity of demand is -0.66. B. The slope of the demand curve equals the elasticity of demand. C. The price increase will lead to an increase in total value of Magnim ice cream bars.
单选题An investor has gathered the following data, presented on an annual basis, for an apartment complex that is being considered for purchase: Gross potential rental income $176000 Insurance and taxes $15000 Utilities $11400 Repairs and maintenance $17350 Depreciation $21000 The annual net operating income (NOI) for the apartment complex is closest to:
单选题For an investment portfolio, the Sharpe ratio is best described as a(n): A. Relative measure that indicates risk per unit of mean return. B. Absolute measure that indicates risk per unit of mean return. C. Relative measure that indicates mean excess return per unit of risk.
单选题An analyst does research about margin transaction. An investor purchases a stock priced at $80 by borrowing the maximum amount under a 65% initial margin requirement. If the maintenance margin requirement is 30% the security price below which the investor will first receive a margin call is closest to: A. $37 B. $40 C. $52
单选题The following table provides information about a portfolio of three bonds.
Bond
Maturity
Price
Par Amount
Duration
1
17-year
$109.2461
$16 million
8.56
2
20-year
$100.4732
$4million
9.19
3
25-year
$84.6427
$8 million
11.48
Based on this information, the duration of the portfolio is closest to:
单选题An analyst has found an investment with what appears to be a great return-to-risk ratio. The analyst double-checks the data for accuracy, keeps careful records, and is careful to not make any misrepresentations as he simultaneously sends an e-mail to all his clients with a "buy" recommendation. According to Standard Ⅴ (A) , Diligence and Reasonable Basis, the analyst has: A. fulfilled all obligations. B. violated the Standard if he does not verify whether the investment is appropriate for all the clients. C. violated the Standard by communicating the recommendation via e-mail.
单选题A companys optimal capital budget most likely occurs at the intersection of the:
单选题The demand curves faced by monopolistic competitors is:
A. inelastic due to the availability of many complementary goods.
B. elastic due to the availability of many close substitutes.
C. flat due to the allocative efficiency of price searcher
markets.
单选题If difference between accounting profit and taxable income is temporary, deferred tax liabilities are created when: A. financial accounting income tax expense is less than regulatory income taxes payable. B. financial accounting income tax expense is more than regulatory income taxes payable. C. accounting profit isless than taxable income.
单选题An equity manager conducted a stock screen on 5,000 U
单选题WhichofthefollowingstatementsisNOTcompliancewiththeGlobalInvestmentPerformanceStandards()?A.Afirmmusthaveitsperformanceresultsverifiedbyanindependentthirdparty.B.Afirmmustmakeeveryreasonableefforttoprovideacompliantpresentationtoallprospectiveclients.C.Afirmmustprovideacompletelistofcompositedescriptionstoanyprospectiveclientthatmakesucharequest.
单选题Which of the following is least likely among the usual investment constraints that should be considered?
单选题The First State Bank is willing to lend $100000 for 4 years at a 12 percent rate of interest, with the loan to be repaid in equal semi - annual payments. Given the payments are to be made at the end of each 6 - month period, how much will each loan payment be?
单选题An analyst does research about correlation. In a portfolio of two risky securities, the portfolio risk is maximized when the two securities are. A. uncorrelated. B. perfectly positively correlated. C. perfectly negatively correlated.
单选题According to put-call parity, if a fiduciary call expires in the money, the payoff is most likely equal to the:
单选题A derivative is most accurately defined as a financial instrument that provides: A. an adjustment to another asset's level of risk. B. a return based on the return of an underlying asset. C. an agreement between two parties to provide something for each other.
单选题Which of the following statements is least accurate with respect to the advantages of open-end exchange traded funds (ETFs) ? Open-end ETFs : A. Provide a more cost-effective way for large institutions to invest in emerging markets. B. Provide for more immediate reinvestment of dividends than index mutual Finds. C. Provide lower exposure to capital gains distribution taxes than traditional mutual funds.
单选题Which of the following approaches in measuring interest rate risk is most accurate when properly performed?
单选题If investors expect stable rates of inflation in the future, the pure expectations theory suggests that the yield curve now will be: