单选题Which of the following statements regarding spot rates and zero-coupon bonds is least accurate? A. The graph of current corporate bond yields is called the spot yield curve. B. The yield to maturity on a zero coupon bond is called the spot interest rate. C. With zero coupon bonds, investors have no reinvestment risk.
单选题What is the relationship between price and marginal revenue for a
price searcher?
A. Marginal revenue ＞ price.
B. Marginal revenue ＜ price.
C. Marginal revenue = price.
单选题Frank Jameson is a portfolio manager with 90 percent of the large-cap diversified mutual fund he controls invested in common stocks. Jameson is concerned the overall market will decline by a significant amount over the next two months due to a slowing of the general economy. Which of the following actions will provide a hedge for the mutual fund? A. Purchasing call options on the S&P 500. B. Writing put options on the S&P 500. C. Purchasing put options on the Standard and Poor's 500 Index (S&P 500).
单选题According to the Professional Conduct Standards relating to referral fees, any compensation, consideration, or benefit paid to members for the recommendation of products or services are required to be disclosed: A. only to current and potential clients, as appropriate. B. only to their employer and current clients, as appropriate. C. to both current and potential clients and their employer, as appropriate.
单选题One advantage of using price-to-book value multiples for stock valuation is that:
单选题What is the impact on accounts receivable if sales exceed cash collections and what is the impact on accounts payable if cash paid to suppliers exceeds purchases? Accounts receivable Accounts payable ①A. Increase Decrease ②B. Increase Increase ③C. Decrease Decrease
单选题When workers agree to forego leisure to undertake labor and receive
wages, the term that is applied in labor supply economics is the:
A. substitution effect.
B. income effect.
C. marginal rate of substitution.
单选题Assume U.S. GAAP (generally accepted accounting principles) applies unless otherwise noted. An investor has gathered the following data, presented on an annual basis, for an apartment building that is being considered for purchase:
单选题In order to calculate the net present value (NPV) of a project, an analyst would least likely need to know the: A. internal rate of return (IRR) of the project. B. opportunity cost of capital for the project. C. expected cash flows from the project.
单选题Angus, CFA, is a principal at Nelson Brothers, a leading regional
investment bank specializing in initial public offering of small to mid-sized
biotech firms. Just before many of IPOs are offered to the general public, Angus
arranges for 10% of the shares of the firm going public to be distributed to
management by Nelson Brothers. This action is a violation of the Standard
concerning:
A. additional compensation.
B. disclosure of conflicts of interest.
C. fair dealing.
单选题A stop is used to trigger a buy or sell order when the stock price reaches a specified price: A. but does not guarantee that the order is completed at the stop price. B. but is only triggered if the order can be completed at the stop price. C. but only after the seller receives written or verbal notification from the selling broker.
单选题All else being equal, will the joint profit of an oligopolistic industry most likely be maximized if the: number of firms demand for the
in the industry decrease? industry's products is stable?
①A. No No
②B. No Yes
③C. Yes Yes
A. ①B. ②C. ③
单选题Which of the following is least likely a short-term funding method available to banks?
单选题What is the present value of a 7% semiannual-pay bond with a $1000 face value and 20 years to maturity if similar bonds are now yielding 8.25%?
单选题An analyst estimates that an initial investment of ￡ 500000 in a venture capital project will pay ￡ 6 million at the end of five years if the project succeeds and that the probability the project survives to the end of the fifth year is 25 percent. The required rate of return for the project is 19 percent. The expected net present value of the venture capital investment is closest to:
单选题Brenda Simone is a money manager with the pension fund of Blue Streets as one of her clients. The director of the pension fund calls Simone and asks her to use a particular broker so that the fund can obtain some research services with the soft dollars from that broker. Simone believes that the desired broker will provide the same price and execution as the normal broker that Simone uses. Simone does as the client wishes. Simone has: A. not violated the Standards as long as the research provided by the broker will benefit Blue Streets. B. not violated the Standards as long as the research provided by the broker will benefit Simone's money management practice. C. not violated the Standards as long as the research provided by the broker will benefit the plan beneficiaries.
单选题Venture capital investments used to provide capital for companies initiating commercial manufacturing and sales are most likely to be considered a form of:
单选题Which of the following is an example of a parameter?（ ）
单选题Standardizing a normally distributed random Variable requires the:
单选题Aleda Jones owns a stock and buys an at-the-money put option for a premium of $3.00. If the breakeven ( zero profit) point of this portfolio insurance strategy is $92, the strike price of the option is :