版权说明:本文档由用户提供并上传,收益归属内容提供方,若内容存在侵权,请进行举报或认领
文档简介
1、9CFA考试二级模拟试题精选 0401-27(附详解)1、 Using the information provided in Exhibit 1 , the breakeven price of Apple shares for a bear spread strategy using puts is closest to: 【单选题】A. $96.44.B. $98.56.C. $97.18.正确答案 :C单选题】答案解析 :C is correct The breakeven price is X2、As compared to the temporal method, the pare
2、nts fixed asset turnover for fiscal 2008 using the current rate method is:A.B.C. the same.正确答案 :A答案解析 :The local currency (the USD) is depreciating, so the historical rate will be higher than the current rate. Fixed asset turnover (sales divided by netPP&E) will be higher under the current rate meth
3、od. Net PP&E will be translated at the lower current rate, and because sales are the same under both methods, the ratio will be higher.3、Which of the following statements about the reported earnings of Renaissance Clothing is most accurate? Relative to sustainable earnings, reported earnings are lik
4、ely: 【单选题】A. unbiased.B. upward biased.C. downward biased.正确答案 :B答案解析 :B is correct. The effects of favorable nonrecurring events in reported earnings would tend to bias reported earnings upward relative to sustainable earnings because non -recurring items are by definition not expected to repeat. R
5、enaissance Clothing included three nonrecurring items in their most recent-time tax credit, and the gain on the sale of a单选题】earnings release that all led to higher earnings for the current period: a positive litigation settlement, a one non -operating asset.4、Based on the information presented in E
6、xhibit 1, the effective duration of the 5% coupon bond is closest to:A. 3.18.B. 0.70.C. 1.59.正确答案 :C答案解析 :C is correct.5、Using the approach suggested by Medeva and the data in Exhibit 1, which of the three countries most likely indicates the highest growth rate in potentialGDP?【单选题】A. Country X.B. C
7、ountry Y.C. Country Z.正确答案 :B答案解析 :Using the labor productivity growth accounting equation, Country Z indicates the highest growth rate in potential GDP.6、Madison s views on the term structure of interest rates are most consistent with the: 【单选题】A. local expectations theory.B. segmented markets theo
8、ry.C. liquidity preference theory.正确答案 :C答案解析 :C is correct. Liquidity preference theory asserts that investors demand a risk premium, in the form of a liquidity premium, to compensate them forthe added interest rate risk they face when buying long -maturity bonds. The theory also states that the li
9、quidity premium increases with maturity.7、How many of Yeungs constraints would be accurately regarded as a constraint in an investment policy statement?【单选题】A. One.B. Two.C. Three.正确答案 :B答案解析 :What Yeung has identified as Constraint 1 is properly classified as a return objective and not a constraint
10、. Investment constraints are factors that restrict investment choices. Constraint 2 is unexampled of time horizon constraint. Constraint 3 is an example of liquidity constraint.8、Based on Exhibit 2, the modeling approach used by Candidate B to project future net sales is most accurately classified a
11、s a:【单选题】A. hybrid approach.B. top -down approach.C. bottom -up approach.正确答案 :B答案解析 :B is correct. A top -down approach usually begins at the level of the overall economy. Candidate B assumes industry sales will grow at the same rate-up approach;as nominal GDP but that Chrome will have a 2 percenta
12、ge points decline in market share. Candidate B is not using any elements of a bottom therefore, a hybrid approach is not being employed.单选题】9、Does Telline violate any CFA Institute Standards when he places the buy order for shares in the technology company for CaperA. No.B. Yes, relating to fair dea
13、ling.C. Yes, relating to diligence and reasonable basis.正确答案 :A答案解析 :A is correct. Telline is careful to consider the investment suitabsility for Caper accsount. Telline actionss are consistent with CFA InstituteStandards III(A)-Loyalty, Prudence, and Care and III(B)Fair Dealing. Telline determines
14、that the other client does not have the cash available in his accouand selling existing holdings does not make sense.10、The scenario analysis that Hamilton prepares for the committee is most likely a: 【单选题】A. stress test.B. historical scenario.C. hypothetical scenario.正确答案 :C答案解析 :C is correct. A hy
15、pothetical scenario analysis allows the risk manager to estimate the likely effect of the scenario on a range of portfolio risk factors.A sovereign ratings downgrade would affect Hirams India equity and corporate bond exposures as well as the government bond exposure. In addition, theassumptions used in constructing the scenario analysis can specifica
温馨提示
- 1. 本站所有资源如无特殊说明,都需要本地电脑安装OFFICE2007和PDF阅读器。图纸软件为CAD,CAXA,PROE,UG,SolidWorks等.压缩文件请下载最新的WinRAR软件解压。
- 2. 本站的文档不包含任何第三方提供的附件图纸等,如果需要附件,请联系上传者。文件的所有权益归上传用户所有。
- 3. 本站RAR压缩包中若带图纸,网页内容里面会有图纸预览,若没有图纸预览就没有图纸。
- 4. 未经权益所有人同意不得将文件中的内容挪作商业或盈利用途。
- 5. 人人文库网仅提供信息存储空间,仅对用户上传内容的表现方式做保护处理,对用户上传分享的文档内容本身不做任何修改或编辑,并不能对任何下载内容负责。
- 6. 下载文件中如有侵权或不适当内容,请与我们联系,我们立即纠正。
- 7. 本站不保证下载资源的准确性、安全性和完整性, 同时也不承担用户因使用这些下载资源对自己和他人造成任何形式的伤害或损失。
最新文档
- 炭精块项目评价分析报告
- 2024年产线承包协议范本
- 2024年简化版服务回购协议样式版
- 理发师用工作服项目评价分析报告
- 眼镜侧挡片相关项目建议书
- 电炒锅市场环境与对策分析
- 教育行业学生安全应急预案
- 律师事务所诉讼代理服务手册
- 浸卸妆液的卸妆棉项目可行性实施报告
- 六年级英语下册Unit 8单元话题写作“梦想”译林版三起
- 重庆工程造价咨询服务收费标准渝价〔2013〕428号
- 《班级中的“岗位”》ppt课件
- 落地外脚手架拆除施工方案
- 装饰装修验收质量自评报告
- PE管热熔焊接工艺标准
- 最新国家电网公司安全设施相关标准
- 印刷行业五制度
- 《6.用线画房子课件》小学美术冀美版三年级上册2034.ppt
- 玻璃、易碎品管理规程
- 公务员考核量化测评标准
- 五大领域认知发展
评论
0/150
提交评论