单选题A bond has a duration of 14.4 and a convexity measure of 85. If yield increases by 75 basis points, the percentage price change is closest to: A. -5.16% B. -10.32% C. -11.28%
单选题An investor buys a call option with a $25 exercise price priced
at $4 and writes a call option with a $40 exercise price priced at $2.50.
If the Price of the stock increases to $50 at expiration and the options are
exercised on the expiration date, the net profit at expiration (ignoring
transaction costs) is:
A. $8.50.
B. $13.50.
C. $16.50.
单选题When bonds are sold in a bought deal, the transaction takes place on
the:
A. primary market.
B. secondary market.
C. tertiary market.
单选题Which of the following statements about financial statements and reporting standards is least accurate?（ ）
单选题If a bond has a convexity of 120 and a modified duration of 10, what is the convexity adjustment associated with a 25 basis point interest rate decline?
单选题某银行正在考虑购进一套软件系统，采购成本为250万美元。假设必要回报率为15%，第一年的现金流为200万美元，第二年的现金流为150万美元。
试根据上述条件解答问题。
单选题Randox Industries has the following investment policy statement: "In
order to achieve the safety and liquidity necessary in the investment of excess
cash balances, the CFO or his designee may invest excess cash balances in 30 -
day U. S. Treasury bills, or in bankers acceptances with maturities of less than
31 days or 30 - day certificates of deposit, where the credit rating of the
issuing bank is A + or higher. " This policy statement is.
A. appropriate because these are all safe, liquid securities.
B. inappropriate because it is too restrictive.
C. inappropriate because both banker's acceptances and certificates of
deposit are illiquid.
单选题Project C is similar in risk to a company in their same industry that has an average leveraged beta of 1.2. If Conover uses a pure play method to evaluate project C, what is the appropriate cost of equity capital for the project?
单选题Which of the following embedded options benefits the bond investor?
单选题Holly Baker, CFA is explaining the CFA Institute Code of Ethics to a client
单选题Which of the following statements does not accurately represent the objectives of Global Investment Performance Standards (GIPS)? The GIPS standards:
单选题According to EMH knowledge, is the information set associated with the weak-form of the EMH best described as including all information associated with the:
semistrong-form of the EMH strong-form of the EMH
①A. No No
②B. No Yes
③C. Yes No
A. ①B. ②C. ③
单选题An analyst does research about the cumulative relative frequency and gathers the following frequencies from a sample of 90 observations: Return Interval Absolute Frequency -9% to -6% 3 -6% to -3% 6 -3% to 0% 28 0% to 3% 34 3% to 6% 17 6% to 9% 2 The cumulative relative frequency of returns less than 0% is closest to: A. 10% B. 41% C. 59%
单选题The actual coupon payment on a bond that a company issues is reported as which type of cash flow under U. S. GAAP, and which cash flow would be overstated by a premium bond? Coupon payment Premium Bond ①A. Operating cash outflow Cash flow from operations ②B. Financing cash outflow Cash flow from operations ③C. Operating cash outflow Cash flow from financing
单选题Are the following two statements about the elasticity of labor demand correct?
Statement 1: Labor demand is more elastic in the short run than in the long run because other factors of production are fixed in the short run.
Statement 2: The more labor-intensive a firm's production processes, the more elastic the firm's demand for labor will be.
Statement 1 Statement 2
①A. Correct Correct
②B. Correct Incorrect
③C. Incorrect Correct
A. ①B. ②C. ③
单选题Kenneth, CFA, has just started work as a trainee with Jerron Asset Management Co., a small regional money management firm started six months ago. He has been told to make a few cold calls and round up some new clients. In which of the following statement has Kenneth least likely violated the Code and Standards?
单选题An investor in the 28% tax bracket is considering buying one of the following securities: A fully taxable Treasury security offering a 6.0% yield. A municipal bond offered at par offering a 4.0% yield. What is the after-tax yield on the Treasury and the taxable-equivalent yield on the municipal bond?
After-tax yield on the treasury Taxable-equivalent yield on the municipal
单选题Which of the following statements regarding skewness is FALSE? A. A positively skewed distribution is characterized by many small losses and a few extreme gains. B. A distribution that is not symmetrical has skew not equal to zero. C. In a skewed distribution, 95% of all values will lie within plus or minus two standard deviations of the mean.
单选题Oliver Rae, CFA, is an individual investment adviser specializing in commercial real estate
单选题John has a 10-year bond outstanding with an annual coupon of 6.5 percent. If the bond is currently priced at $1089.25, which of the following is closest to the bond-equivalent yield of the bond?