单选题An analyst gathered the following data about a company: Net sales $ 4000 Dividends declared 170 Cost of goods sold 2000 Other cash expenses for inputs 500 Long-term debt principal repayment 250 Cash tax payments 200 Purchase of new equipment 300 Inventory increased by 100 Accounts payable increased 300 Depreciation expense 75 The company's cash flow from operations is:

单选题Carolyn Roberts, CFA, is a portfolio manager for a bank trust department. One of her clients, Jay Restow, asked her if she could enhance his returns through buying and selling options. Roberts is not an experienced options trader, but she was afraid if she turned Restow down he would take his sizeable account to another institution. She agreed to trade options, and in the next six months she doubled the size of Restow's portfolio. According to Standard Ⅰ (C)—Misrepresentation, Roberts has: A. not violated the Standard, since she made no promises as to potential returns. B. violated the Standard, since she implicitly represented that she could enhance Restow's returns using options. C. not violated the Standard, because she did enhance Restow's returns.

单选题Thefollowingselecteddataareavailableforafirm:$millionsNetincome90.0Non-cashcharges15.2Interestexpense28.0Capitalexpenditures34.2Workingcapitalexpenditures13.0Ifthefirmstaxrateis40%,thefreecashflowtothefirm(FCFF)isclosestto:

单选题Elbie Botha, CFA, an equity research analyst at an investment bank, disagrees with her research teams buy recommendation for a particular companys rights issue

单选题Compared with fundamental analysis, does technical analysis place more emphasis on: a company's financial determining the effects of specific events accounting statements? on the value of a company's stock? A. No No B. No Yes C. Yes No

单选题If Investor A has a lower risk aversion coefficient than Investor B, will Investor Bs optimal portfolio most likely have a higher expected return on the capital allocation line?

单选题A corporation may issue asset backed securities because: A. All of the reasons are valid. B. it wants to change the structure of its balance sheet. C. it wants to speed up cash flows from the assets.

单选题Refusing to invest in companies that sell tobacco products, alcohol, or products that are harmful to the environment would constitute a set of investment restrictions that would best be classified according to which one of the following investment constraint categories?（ ）

单选题An analyst does research about cash flow ratios. Which of the following best represents a debt payment coverage ratio? Cash flows from operations are divided by: A. average total debt. B. cash paid for long-term assets. C. cash paid for long-term debt repayment.

单选题A&G Inc."s has a gross profit of $52000 on sales of $176000. The balance sheet shows average total assets of $82000 with the average inventory balance of $16000. A&G"s total asset turnover and inventory turnover are closest to: total asset turnover inventory turnover ① 2.15 times 7.75 times ② 1.63 times 7.75 times ③ 2.15 times 5.24 times

单选题A corporation issues five-year fixed-rate bonds

单选题A completely diversified portfolio will most likely result in the elimination of:

单选题The primary difference between basic EPS and diluted EPS is that: A. proprietors and partners report basic EPS but corporations report diluted EPS. B. small firms report basic EPS but large firms(over $100 million in sales) must report diluted EPS. C. diluted EPS includes the potential effects of convertible securities while basic EPS does not.

单选题When purchasing a futures contract, the initial margin requirement refers to the:

单选题A3-yearoldinvestmentfirmplanstoadoptGlobalInvestmentPerformanceStandards().Toclaimcompliancewiththe,thefirmisinitiallyrequiredtopresent-compliantperformancehistoryforatleast:A.threeyears.B.fiveyears.C.tenyears.

单选题Which of the following statements about the market portfolio is least accurate? A. No portfolio along the Markowitz efficient frontier has a higher Sharpe ratio than the market portfolio. B. The CML and the Markowitz efficient frontier intercept at the market portfolio. C. The risk of the market portfolio is measured in both standard deviation and systematic risk.

单选题Which statement best describes option price sensitivities? The value of a:

单选题An analyst does research about the dividend discount model (DDM). All else being equal, the earnings multiplier for a stock decreases with an increase in the: A. expected dividend growth rate. B. expected dividend payout ratio. C. estimated required rate of return on equity.

单选题In a recent staff meeting, David Hurley, stated that analysts should understand that financial ratios mean little by themselves. He advised his colleagues to evaluate financial ratios carefully. During the discussion he made the following statements: Statement 1 : A company can be compared with others in its industry by relating its financial ratios to industry norms. However, care must be taken because many ratios are industry-specific, but not all ratios are important to all industries. Statement 2: Comparing a company to the overall economy is useless because overall business conditions are constantly changing. Specifically, it is not the ease that financial ratios tend to improve when the economy is strong and weaken during recessionary times. Are statements 1 and 2 as made by Hurley regarding financial ratio analysis correct? Statement 1 Statement 2 ①A. Incorrect Correct ②B. Incorrect Incorrect ③C. Correct Incorrect

单选题An pharmaceutical industry analyst gathers the following information about a company during 2011. The net income is $23000. The total assets are $140000 on January 1, 2011. The total assets are $180000 on 31 December, 2011. The cash dividends paid on common stock this year are $8000, and the financial leverage is 2.5. The company's sustainable growth rate is closest to: A. 9.4% B. 20.8% C. 23.4%