单选题Selected financial information gathered from Alpha Company and Omega Corporation follows: Alpha Omega Revenue $1650000 1452000 Earnings before interest, taxes depreciation, and amortization 69400 79300 Quick assets 216700 211300 Average fixed assets 300000 323000 Current liabilities 361000 404400 Interest expense 44000 58100 Which of the following statements is most accurate? A. Alpha is more operationally efficient than Omega. B. Omega uses its fixed assets more efficiently than Alpha. C. Omega has less tolerance for leverage than Alpha.

单选题Which, if any, of the following statements about the installment sales method and cost recovery method is correct? A. The cost recovery method recognizes revenue and associated costs of goods sold only when cash is received, based on gross profit margin. B. The installment sales method recognizes sales when cash is received, but no gross profit is recognized until all of the cost of goods sold is collected. C. Neither statement is correct.

单选题ABC has an expected return of 18% and a standard deviation of 20%. XYZ has an expected return of 32% and a standard deviation of 40%. What is the variance of a portfolio that invests 25% in ABC and the remainder in XYZ, if the correlation between the two securities is 70%?

单选题A competitive firm will tend to expand its output as long as marginal: A. revenue is greater than marginal cost. B. revenue is greater than the average cost. C. cost is less than average cost.

单选题一项针对基金投资者的研究表明，投资者的年人均收入服从平均值为35000美元、标准差为7000美元的正态分布。试根据上述条件解答问题：

单选题A company is investigating the purchase of a banker"s acceptance (BA). The $1000000 face value BA has 150 days to maturity and is quoted at 4.05 percent on a discount-basis yield. If the company"s marginal tax rate is 25 percent, then the money market yield on the BA is closest to:

单选题An analyst has not paid her CFA Institute dues for several years but has filed a professional conduct statement annually. Which of the following statements is TRUE regarding her status with CFA Institute? The analyst's membership is: A. considered "inactive." B. temporarily suspended until she pays her dues. C. suspended and she is not considered a CFA charterholder.

单选题Ellison is an analyst of KM&G, a major U. S. based investment bank. Ellison is considering opening new stores in Brazil and wants to estimate its cost of equity capital for this investment. Ellison has found that: ●The yield on a Brazilian government 10-year U.S. dollar-denominated bond is 8%. ●A 10-year U.S. Treasury bond has a yield of 5%. ●The annualized standard deviation of the Sao Paulo Bovespa stock index in the most recent year is 43%. ●The annualized standard deviation of Brazil"s 10-year U.S. dollar-denominated bond in the most recent year is 27%. ●The appropriate beta to be used for the project is 1.2. ●The market risk premium is 7%. ●The risk-free interest is 3%. Which of the following choices is closest to the appropriate country risk premium and the cost of equity that Ellison should use in his analysis? country risk premium cost of equity for project ① 4. 8% 17.2% ② 4. 8% 23.3% ③ 7.6% 23.3%

单选题A fixed-income securitys current price is $101.45. The manager estimates that the price will riseto $103.28 if interest rates decrease 0.25% or fall to $100.81 if interest rates increase 0.25%. Thesecuritys effective duration is closest to:

单选题Which of the following is the appropriate redemption price when bonds are called according to the sinking fund provision?

单选题If flotation costs are treated correctly in calculating the net present value of a project that will begin in the current period, the flotation costs are most likely: A. reflected in the discount rate used for the project. B. included in the initial outlay. C. to reduce NPV less if a high discount rate is used for the project.

单选题A portfolio manager adds a new stock that has the same standard deviation of returns as the existing portfolio but has a correlation coefficient with the existing portfolio that is less than +1. Adding this stock will have what effect on the standard deviation of the revised portfolio's returns? The standard deviation will:

单选题One reason that criticism has been leveled at derivatives and derivatives markets is that: A. derivatives have too much default risk. B. markets for derivatives seldom function efficiently like a stock exchange. C. they are complex instruments and sometimes hard to understand.

单选题There are two different options available with ITM Corporation common stock as the underlying asset. They each have the same maturity date, a strike price of $40.00, and are identical in all other ways except, one is a European call, and the other is an American call. ITM stock has a market value of $43.75. The American call option is selling for $4.90. For the European call, which of the following option premiums is most likely?

单选题When average product is at a maximum: A. Marginal cost is at a minimum. B. Marginal product is at a minimum. C. Average variable cost is at a minimum.

单选题A portfolio currently holds Randy Co. and the portfolio manager is thinking of adding either XYZ Co. or Branton Co. to the portfolio. All three stocks offer the same expected return and total risk. The covariance of returns between Randy Co. and XYZ is + 0.5 and the covariance between Randy Co. and Branton Co. is- 0.5. The portfolio's risk would decrease: A. most if she put half your money in XYZ Co. and half in Branton Co. B. more if she bought Branton Co. C. if she bought XYZ Co. but increase if she bought Branton Co.

单选题AnanalystgathersthefollowingdataaboutaEuropeancompanywithadouble-digitgrowthratethatisexpectedtocontinueforthreemoreyears:Thebestestimateofthecompany'svaluepershareisclosestto:

单选题Which of the following statements is least accurate with respect to the advantages of open-end exchange traded funds (ETFs) ? Open-ended ETFs: A. provide for more immediate reinvestment of dividends than do index mutual funds. B. provide a more cost-effective way for large institutions to invest in emerging markets. C. provide lower exposure to capital gains distribution taxes than do traditional mutual funds.

单选题Which of the following real estate valuation approaches is most likely to use slope coefficients derived from a statistical analysis to estimate the value of a property? A. cost approach. B. sales comparison approach. C. discounted after-tax cash flow model approach.

单选题A sample of 438 observations is randomly selected from a population