单选题Which of the following changes would most likely decrease a firm"s demand for labor?
单选题Which of the following statements concerning inflation is least accurate? A. Inflation tends to erode the purchasing power of a currency. B. There are two fundamental types of inflation, demand-pull and cost-push. C. Anticipated changes in inflation have greater impacts on real economic outcomes than unanticipated changes.
单选题The value of a 5 - year semi-annul zero-coupon bond with a $ 500
maturity value and 9 percent discount rate is closest to:
A. $307.87.
B. $321.96.
C. $500.
单选题An analyst does research about relationship between duration and actual price. An option-free bond having the duration of 8, if yields decrease by 100 basis point, the actual price of the bond will: A. increase by more than 8%. B. increase by less than 8%. C. decrease by more than 8%.
单选题The following selected balance sheet and ratio data are available for a company:
Which of the following ratios decreased between 2011 and 2012?
单选题An analyst does research about bond evaluation. Each of the option-free bonds listed below has a par value of $1000: Bond 1 Bond 2 Time to maturity 12 years 11 years Annual coupon rate 6.0% 8.0% Discount rate today 7.5% 7.5% Which of the following statements about the two bonds is most accurate? If the discount rate for each of the bonds remains at 7.5 percent for ten years, the passage of time will result in an increase in value for: A. Bond 1 only. B. Bond 2 only. C. both Bond 1 and Bond 2.
单选题If the odds against an event occurring are twelve to one, what is the probability that it will occur?
单选题A firm operating under conditions of pure competition will:
A. face a vertical demand curve.
B. generate zero economic profit in the long run.
C. produce a quantity where marginal revenue is less than marginal
cost.
单选题A corporation issuing asset-backed securities can often improve the credit rating of the securities to above that of the issuing company by transferring the assets to a (n):
单选题An investor wishes to short sell 500 shares of McDonald Corporation.
The shares open lower at $14.50 and the next five transactions are $14.00,
$14.00, $13.50, $14.25, and $14.50. The lowest price at which the order can be
executed is:
A. $14.25.
B. $13.50.
C. $14.00.
单选题Macklin Metals has received 80 million pounds sterling. The
company plans to spend $120 million on a project in the United States in 90
days. Macklin inters into a cash settlement currency forward to exchange the
pounds for U. S. dollars at a rate of $1.50 per pound in 90 days. If the
exchange rate is $1.61 per pound at the settlement date, the cash settlement
Macklin will pay or receive is closest to:
A. $5.5 million payment.
B. $8.8 million payment.
C. $5.5 million receipt.
单选题James Waiters, CFA, is an active fixed income portfolio manager. He manages a portfolio of fixed income securities worth $ 7500000 for an institutional client. Waiters expects a widening yield spread between intermediate and long term securities. He would like to capitalize on his expectations and considers several transactions in a number of different securities. On 01/31/ 06, Waiters expects the yield of the 2 - Year Treasury Note to decrease by 10 basis points and the yield of the 30 - Year Treasury Bond to increase by 11 basis points. The characteristics of these two fixed income securities are shown in Table 1. Prices are quoted as a percentage of par value and the Price Value of a Basis Point is per $1 million par amount.
单选题Which of the following statements about speculators and hedgers in the futures market is TRUE? A. Hedging can allow a business to guard against a price increase in a commodity without sacrificing profit if the commodity price decreases. B. Hedgers guard against market price changes that would cause a reduction in their operating profit. C. A speculator would use futures to take a short position in a commodity if its price is expected to increase.
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
A. ①B. ②C. ③
单选题Which of the following statements concerning why the Global Investment Performance Standards (GIPS) were created is least likely correct? The GIPS standards were created to:
单选题Which of the following sets of numbers does NOT meet the requirements for a set of probabilities?
单选题An investor has identified the following possible portfolios. Which portfolio lies to the right of the efficient frontier?
Portfolio
Expected Return
Standard Deviation
A
18%
35%
B
14%
20%
C
13%
24%
单选题Cindy Grant, CFA, a research analyst for a Canadian brokerage firm, has specialized in the Canadian mining industry for the past 10 years. Grant developed an analytical model for equity valuation of companies in mining sector while at Jefferson Investments Company (JLC). Grant leaves JLC and sets up a competing new firm. Grant takes her analytical model and other supporting documentation with her to her new firm because she believes she created this analytical model by herself. Has Grant least likely violated the Standards of Professional Conduct? A. Yes, relating to record retention. B. Yes, relating to loyalty to employer. C. Yes, relating to diligence and reasonable basis.
单选题In competitive markets, when the efficient quantity is produced, the least likely result is to:
单选题An investment banking firm offers a corporation a binding bid to purchase an amount of new debt securities to be issued by the corporation with a specified coupon rate and maturity