单选题A security market with price continuity is mo.9t accurately characterized as a market which: A. assets can be bought or sold quickly. B. an asset's price reflects all available information about the asset. C. prices do not change much from one transaction to the next in the absence of new information.
单选题In accordance with Standard Ⅲ (A) Loyalty, Prudence and Care, which of
the following statements is least accurate? Members and Candidates should:
A. submit to clients, at least quarterly, itemized statements detailing all
of the period's transactions.
B. make investment decisions in the context of the total portfolio.
C. vote all proxies on behalf of clients in a responsible manner.
单选题Independent samples drawn from normally distributed populations exhibit the following characteristics:
Sample
Size
Sample Mean
Sample Standard Deviation
A
25
200
45
B
18
185
60
Assuming that the variances of the underlying populations are equal, the pooled estimate of the common variance is 2,678.05. The t-test statistic appropriate to test the hypothesis that the two population means are equal is closest to:
单选题If a consumer is willing to pay $300000 for a house but only has to pay
$240000, the $60000 difference is:
A. consumer surplus.
B. consumer deficit.
C. producer surplus.
单选题A consumer purchases an automobile using a loan
单选题A firm is considering a $200000 project that will last 3 years and has the following financial data : Annual after-tax cash flows are expected to be $90000. Target debt/equity ratio is 0. 4. Cost of equity is 14 percent. Cost of debt is 7 percent. Tax rate is 34 percent. Determine the project's payback period and net present value(NPV). Payback Period NPV ①A. 2.43 years $18716 ②B. 2.22 years $18716 ③C. 2.43 years $21872
单选题If interest rates are expected to decline, an investor can earn a
higher coupon interest rate by purchasing a(n):
A. callable bond.
B. inverse floater.
C. floater with a floor.
单选题Which of the following statements about correlation coefficient is least likely correct?
单选题An investor sold a 30 - year bond at a price of $ 850 after he purchased it at $ 800 a year ago. He received $ 50 of interest at the time of the sale. The annualized holding period return is:
单选题Which type of unemployment describes situations where qualified workers are not immediately matched with existing job openings?
单选题The daily process of adjusting the margin in a futures account is called:
单选题Consider a 1-year quarterly-pay $1000000 equity swap based on a
fixed rate and an index return. The current fixed rate is 3.0 percent and the
index is at 840. Below are the index level at each of the four settlement
dates on the swap.
Q1
Q2
Q3
Q4
Index
881
850
892.5
900 At the first
settlement date, the equity-return payer in the swap will pay:
A. $4638.
B. $56310.
C. $41310.
单选题An investor most concerned with reinvestment risk would be least likely to: A. eliminate reinvestment risk by holding a coupon bond until maturity. B. prefer a lower coupon bond to a higher coupon bond. C. be more concerned in a decreasing interest rate environment.
单选题Which of the following organizational structures is subject to double
taxation?
A. Corporations.
B. Proprietorships.
C. Partnerships.
单选题An analyst has gathered the following information about a company: Cost of goods sold equals 65 percent of sales Inventory of $ 450000 Sales of $ 1 million What is the value of this firm' s average inventory processing period using a 365-day year?
单选题What is the effect on the accounting equation when a company's Board of Directors declares a cash dividend? A. Assets decrease and owners' equity decreases. B. Liabilities increase and owners' equity decreases. C. There is no effect on the accounting equation until the dividend is paid.
单选题An analyst does research about the incidence of a tax. All else being equal, sellers pay the largest portion of a tax when the supply is: A. unit elastic. B. highly elastic. C. highly inelastic.
单选题Which of the following is the most accurate definition of the unemployment rate? The unemployment rate is the number of:
单选题With respect to the capital budgeting, which of the following occurs when an investment takes customers and sales away from another part of the company? A. Opportunity cost. B. Externality. C. Cannibalization.
单选题Which of the following will not cause a change in the demand for money? A. an increase in the nominal value of transactions. B. inflation. C. a change in the real interest rate.