单选题In the Phillips curve model of the relationship between inflation and the unemployment rate, a shift to a new short-run Phillips curve represents a change in the:
单选题
Question
The following information has been gathered regarding Williams Investing,
which uses the straight-line method for depreciation.
Depreciable life of 8 years on its assets. Net book
value of assets is $ 40 million. Accumulated depreciation is $
28 million. Salvage value is $12 million. It
recently revised the estimates for the remaining useful life of its assets from
4 years to 6 years. Net income before the change is $13
million. The effective tax rate for the firm is 40
percent.
单选题The short-run supply curve for a firm under perfect competition: A. is its average variable cost curve. B. is its average variable cost curve above marginal revenue. C. is its marginal cost curve above average variable cost.
单选题A portfolio of option-free bonds is least likely to be exposed to
单选题Equilibrium in a perfectly competitive market results in a quantity for which the: A. difference between consumer and producer surpluses is maximized. B. consumer and producer surpluses are equal. C. sum of consumer and producer surpluses is maximized.
单选题An analyst does research about a bond's indenture. Which of the following is an example of a affirmative covenant? A. Limit additional borrowings unless certainfinancial conditions are met. B. Prohibit the same assets back several debt issues simultaneously. C. Maintain of current ratio above 2.5.
单选题Which of the following events is most likely to increase short-run aggregate supply (shift the curve to the right)? A. High unemployment puts downward pressure on money wages. B. A rise in resource prices. C. Inflation that results in an increase in goods prices.
单选题The probability of Event A is 40%
单选题The following data are available on a company:
The value of the companys liquidity ratio that decreased the most in the current year, compared with the prior year, is the:
单选题For which of the following natural resources does the appropriate model indicate that the price is determined by demand rather than by supply?
单选题At the beginning of the year, two companies issued debt with the same market rate, maturity date, and total face value. One company issued coupon-bearing bonds at par and the other company issued zero-coupon bonds. All other factors being equal for that year, compared with the company that issued par bonds, the company that issued zero-coupon debt will most likely report: A. higher cash flow from operations but not higher interest expense. B. both higher cash flow operations and higher interest expense. C. neither higher cash flow from operations nor higher interest expense.
单选题A financial analyst could correct the current ratio in which a company uses the LIFO inventory valuation method to the FIFO method by: A. adding the LIFO reserve to the current liabilities. B. adding the LIFO reserve to the current assets. C. deducting the LIFO reserve from the current asset.
单选题Level I CFA candidate Adeline Bass is a member of an investment club.
At the next meeting, she is to recommend whether or not the club should purchase
the stocks of CS Industries and MG Consolidated. The risk-free rate is at 6
percent and the expected return on the market is 15 percent. Prior to the
meeting, Bass gathers the following information on the two stocks:
CS Industries
MG Consolidated
Current Market Value
$25
$50
Expected Market Value in One Year
$30
$55
Expected Dividend
$1
$1
Beta
1.2
0.80 Bass should
recommend that the club:
A. purchase MG only.
B. purchase both stocks.
C. purchase CS only.
单选题An investor gathers the following information about two stocks:
单选题Which of the following is most likely associated with an investors ability to take risk rather than the investors willingness to take risk?
单选题A central bank can control the money of stock by: Ⅰ. establishing reserve requirements for depository institutions Ⅱ. buying and selling government securities in the open market Ⅲ. setting the interest rate at which it will loan funds to commercial banks and other depository institutions Which of the following is FALSE?
单选题Are the statements about the following valuation metrics true or false?
Statement 1: As compared to the price-to-earnings ratio, the price-to-cash flow ratio is easier to manipulate because management can easily control the timing of the cash flows.
Statement 2: One of the benefits of earnings per share as a valuation metric is that it facilitates the comparison of firms of different sizes.
Statement 1 Statement 2
①A. False True
②B. True False
③C. False False
单选题Which of the following most accurately describes a derivative security? A derivative:
单选题Which of the following statements is most accurate? A method of
production is economic efficiency when:
A. It uses the most advanced science and technology.
B. The cost of fund capital is as low as possibie.
C. The cost of producing a given level of output is as low as
possible.
单选题Which of the following statements concerning skewness is FALSE? A
distribution with:
A. positive skewness has a long left tail.
B. negative skewness has a large number of outliers on its left side.
C. a distribution with skew equal to 1 is not symmetrical.