单选题Daniel, CFA, is an equity analyst with Prescott Securities. Based on his fundamental analysis, Daniel concludes that the stock of a company he follows, NSCH Inc., is substantially undervalued and will experience a large price increase. He delays revising his recommendation on the stock from "hold" to "buy" to allow his brother to buy shares at a lower price. According to the Standards, Daniel is least likely to have violated:
单选题A Eurodollar time deposit:
单选题The refunding provision found in nonrefundable bonds allows bonds to be retired unless（ ）
单选题The best way to compute an inventory turnover ratio is to use: A. LIFO for COGS and FIFO for average inventory. B. FIFO for both COGS and average inventory. C. LIFO for both COGS and average inventory.
单选题A European company issues a 5-year euro-denominated bond with a face value of EUR 50,000,000
单选题In a sales-type lease, a lessor recognizes a gross profit at the inception of the lease equaling the: A. present value of the minimum lease payments (MLP) less the cost of the leased asset. B. sale price of the leased asset less the present value of the minimum lease payments (MLP). C. present value of interest revenues over the lease period.
单选题Which of the following would NOT be a good source for information about a companys proxy voting rules?（ ）
单选题A stock paid a $3 dividend last year. An investor projects that next
year's dividend will be 20% higher and that the stock will be selling for $60 at
the end of the year. The risk-free rate of interest is 6% , the market return is
10% , and the stock's beta is 1.8. What is the value of the stock?
A. $58.4
B. $63.6
C. $67.2
单选题The short-run supply curve for a purely competitive market:
A. slopes upward to the right.
B. slopes downward to the right.
C. is a horizontal line.
单选题An analyst has made the following estimates for a stock: Dividends over the next year 0.60 Long-term growth rate 13% Intrinsic value $24 The shares are currently priced at $22. Assuming the stock price moves to intrinsic value over the next year, what is the expected return on the stock? A. 9.1%. B. 11.8%. C. 15.7%.
单选题ff the economy is just beginning to come out of a recession, which of the following would represent a typical sequence of phases in the business cycle?
单选题Benefits of compliance with the CFA Institute Global Investment Performance Standards (GIPSR)least likely include:
单选题In a strategic asset allocation, assets within a specific asset class are least likely to have:
单选题For a bond currently priced at $1018 with an effective duration of
7.48, if rates moved down 75 basis points, the new price would be approximately:
A. $942.
B. $961.
C. $1075.
单选题In October, James Knight owned stock in Valerio, Inc. , that was valued at $45 per share. At that time, Knight sold a call option on Valerio with an exercise price of $60 for $1.45. In December, at expiration, the stock is trading at $32. What is Knight's profit (or loss) from his covered call strategy? Knight:
单选题Larry Purcell, an entry-level fixed income analyst at Knowhon &
Smeades LLC, was discussing debt covenants with his supervisor, Andy Holzman.
During the meeting Purcell made the following statements regarding bond
covenants: Statement 1: If a firm violates any of its debt
covenants, the company will immediately go into bankruptcy and the creditors of
the firm will take over the liquidation of its assets.
Statement 2: Debt covenants are important in evaluating a firm' s credit risk
and to better under-stand how the restrictions of the covenants can affect the
firm' s growth prospects and choice of accounting policies. Are statements 1 and
2 .s made by Purcell regarding bond covenants correct?
Statement 1 Statement 2
①A. Correct
Correct ②B. Incorrect
Incorrect ③C. Incorrect
Correct
A. ①
B. ②
C. ③
单选题Which of the following statements is most accurate with regard to a
call provision?
A. A call provision will benefit the issuer in times of declining interest
rates.
B. A callable bond will trade at higher price than an identical noncallable
bond.
C. A nonrefundable bond provides more protection to the bondholder than a
noncallable bond.
单选题An analyst is reviewing the property, plant, and equipment disclosure related to a companys warehouse
单选题Which of the following least accurately describes a component of aggregate demand?
单选题Two portfolios have the same expected rate of return. If these two portfolios are combined on an equally weighted basis, the benefits of diversification are most likely maximized if the portfolios have the same standard deviation and a correlation coefficient of: A. 0.0 B. -1.0 C. +1.0