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آخر أخبار الامتحانات ومعلومات الخصم

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نعم، أرسل لي النشرة الإخبارية

خذ اختبارات أخرى عبر الإنترنت
السؤال #1
Which of the following would increase GDP?
A. ercedes-Benz begins to produce and sell cars in Alabama
B. n American investor buys 100 shares of Ford stock
C. ord Motor Company begins to produce and sell cars in Japan
D. n American investor purchases 100 shares of Mercedes-Benz stock
عرض الإجابة
اجابة صحيحة: A
السؤال #2
The significance level in hypothesis testing refers to the probability that we will:
A. eject the alternative when it is true
B. eject the null when it is true
C. ccept the alternative when it is true
D. ail to reject the null when it is false
عرض الإجابة
اجابة صحيحة: B
السؤال #3
What is the following table called?Ages Number of Ages20 - 291630 - 392540 - 495150 - 598060 - 692070 - 798
A. one of these answers
B. give
C. istogram
D. requency distribution
E. requency polygon
عرض الإجابة
اجابة صحيحة: D
السؤال #4
A researcher has a sample of 700 observations from a population whose standard deviation is known to be 1,235.6. The mean of the sample is calculated to be 219.2. The null hypothesis is stated as Ho: mean = 150 and the alternative is non-directional. The p-value in this case equals ________.
A. 0
B. 3
C.
D. 2
عرض الإجابة
اجابة صحيحة: B
السؤال #5
A sample of 10 observations is drawn from a population with mean 17. The mean of the observations equals 14.3 and the sample standard deviation equals 4.8. The sampling error in mean equals ________.
A.
B. 2
C. 4
D.
عرض الإجابة
اجابة صحيحة: B
السؤال #6
What is the annual Internal Rate of Return of this series of annual cash flows: Year 0: <$25,000>, Year 1:$5,000, Year 2: $0, Year 3: $30,000? (Note that the <> are used to indicate a negative number).
A.
B. 5
C. 4
D. 3
E. 2
عرض الإجابة
اجابة صحيحة: D
السؤال #7
What does the complement rule state?
A. (A) = 1 - P(not A)
B. one of these answers
C. (A) = P(A) - P(B)
D. (A) = P(A) x P(B)
E. (A) = P(A) + P(B)
عرض الإجابة
اجابة صحيحة: A
السؤال #8
Eileen Hart, CFA, is a fixed income portfolio manager for MTY Investment Management. Hart's portfolio includes US agency mortgage-backed securities. Which of the following statements about U.S. agency mortgage-backed securities is least accurate?
A. ash flows from mortgage loans include prepayments, which could affect the future performance of Hart's portfolio
B. ass-through securities issued by Ginnie Mae guarantee the timely payment of interest and principal
C. ollateralized mortgage obligations (CMO) redirect cash flows from the underlying mortgage pool to eliminate prepayment risk
عرض الإجابة
اجابة صحيحة: C
السؤال #9
Standard IV (B.2) deals with ________.
A. ompensation
B. air dealing
C. oft dollars
D. ompetition
E. one of these answers
عرض الإجابة
اجابة صحيحة: F
السؤال #10
An investor buys 200 shares of ABC at the market price of $100 on full margin. The initial margin requirement is 40 percent and the maintenance margin requirement is 25 percent.What is the leverage factor of the margin purchase?
A.
B.
C.
D.
عرض الإجابة
اجابة صحيحة: A
السؤال #11
An analyst develops the following information to value a common stock.The analyst estimates the required rate of return and uses a DDM to value the shares. The value per share is closest to:
A. 14
B. 21
C. 31
عرض الإجابة
اجابة صحيحة: A
السؤال #12
Latham has been following a publicly traded oil firm, Techron Oil. Recently, he read a review about the oil fields in Venezuela, to the effect that the actual oil content of the fields across the country might be as much as 35% higher than previously estimated. Techron owns sizable properties in Venezuela and Latham has concluded that the research report implies that Techron might have as much as a million gallons a day in excess capacity that has not been factored into the stock price. In his report, he pr
A. iolated Standard V (A) - Prohibition against Use of Material, Non-Public Information
B. I, III and IV only
C. II only
D. one of them
E. and III only
عرض الإجابة
اجابة صحيحة: B
السؤال #13
The balance sheet of firm A shows the following:Cash & Cash equivalents 386Receivables 119Inventories 204Marketable securities 143Short-term loans 649Current portion of long-term debt 312The cash ratio of the firm equals ________.
A.
B.
C.
D.
عرض الإجابة
اجابة صحيحة: A
السؤال #14
A normally distributed variable has a mean of 45. If 95% of the observations on the variable fall between 30 and 60, the standard deviation of the variable is approximately ________.
A.
B. 0
C. nsufficient information
D. 5
عرض الإجابة
اجابة صحيحة: A
السؤال #15
If the estimated life of a long-term asset is increased, which of the following is true?
A. he depreciation expense increasesII
B. & II
C. II & IV
D. & III
E. , III & IV
عرض الإجابة
اجابة صحيحة: B
السؤال #16
The significance level of a test is usually equal to which of the following:
A. he power of a test
B. he probability of a Type I error
C. one of these answers is correct
D. he probability of a Type II error
E. ore than one of these answers is correct
عرض الإجابة
اجابة صحيحة: B
السؤال #17
A firm has a high debt-to-equity ratio. In order to improve this ratio in earlier years, it will prefer:
A. IFO accounting and accelerated depreciation
B. IFO accounting and straight-line depreciation
C. IFO accounting and straight-line depreciation
D. IFO accounting and accelerated depreciation
عرض الإجابة
اجابة صحيحة: C
السؤال #18
Which of the following is / are true?
A. sample is a subset of the population
B. , II, III & IV
C. , III & IV
D. V only
E. only
عرض الإجابة
اجابة صحيحة: F
السؤال #19
A dataset of 105 observations is organized in a relative frequency distribution into 9 classes. The sum of the relative frequencies across all the classes equals ________.
A.
B.
C. 05
D. 00
عرض الإجابة
اجابة صحيحة: B
السؤال #20
A normal distribution has a mean of 39 and a variance of 625. The area under the distribution between 50 and 75 equals ________.
A.
B.
C.
D.
عرض الإجابة
اجابة صحيحة: D
السؤال #21
In a period of rising prices, the inventory method that gives the lowest possible value for ending inventory is:
A. ross profit
B. IFO
C. IFO
D. eighted average
عرض الإجابة
اجابة صحيحة: B
السؤال #22
When the FIFO method is used, ending inventory units are priced at the:
A. one of these answers
B. ost recent price
C. he average price
D. arliest price
عرض الإجابة
اجابة صحيحة: B
السؤال #23
The goal of an ideal inflation policy would be
A. ocusing on unemployment first
B. inimizing average inflation
C. eeping inflation stable
D. rowing the money supply at a constant rate
E. riving the price level higher
عرض الإجابة
اجابة صحيحة: C
السؤال #24
The following data have been extracted from the financial statements of a firm for two years, 1995 and 1996:1995 1996Assets 8,174 8,439Net Sales 9,412 8,949Receivables 1,135 986Inventory 2,119 2,464COGS 6,948 7,089The receivables turnover ratio and the average receivables collection period for 1996 equal ________.
A.
B.
C.
D. one of these answers
عرض الإجابة
اجابة صحيحة: A
السؤال #25
If the variance of a probability distribution was computed to be 3.6, what is the standard deviation?
A.
B.
C. one of these answers
D.
E. 2
عرض الإجابة
اجابة صحيحة: B
السؤال #26
International trade can benefit domestic firms because:
A. he market contracts and allows economies of scale in production
B. onsumers purchase more from local firms
C. one of these answers
D. ompetition is promoted in domestic markets and consumers can purchase a wide diversity of goods at economic prices
E. pportunity costs for all goods increase
عرض الإجابة
اجابة صحيحة: D
السؤال #27
Mr. Taylor states in his will that his $50,000 portfolio of bank CD's will go to his only son. Upon Mr. Taylor's death, the son sells the CD's and invests the proceeds in a stock mutual fund. How does this immediately impact M2 and the effective amount money available for transactions?
A. oth decrease
B. ecrease, increase
C. o change, decrease
D. oth increase
E. o change for either
عرض الإجابة
اجابة صحيحة: F
السؤال #28
Under the treasury stock method, primary earnings per share data are computed as if options and warrants (outstanding for the entire year) were exercised at the
A. one of these answers
B. eginning of the period and as if the funds obtained thereby were used to purchase common stock at the current market price in effect at the end of the period
C. nd of the period and as if the funds obtained thereby were used to purchase common stock at the current market price in effect at the end of the period
D. nd of the period and as if the funds obtained thereby were used to purchase common stock at the average market price during the period
E. eginning of the period and as if the funds obtained thereby were used to purchase common stock at the average market price during the period
عرض الإجابة
اجابة صحيحة: E
السؤال #29
How will an unanticipated increase in aggregate demand emanating from an increase in business and consumer optimism influence equilibrium output in the goods and services market?
A. utput will decrease and prices rise
B. utput will decrease and prices fall
C. utput will increase and prices rise
D. utput will increase and prices decline
عرض الإجابة
اجابة صحيحة: C
السؤال #30
An employee's pension payments are based on his salary and length of service. He does not bear the risk of the pension size being affected by market performance. He is enrolled in the:
A. efined benefits plan
B. efined contribution plan
C. efined pension plan
D. mployee pension benefits plan
عرض الإجابة
اجابة صحيحة: A
السؤال #31
A piece of equipment costs $200,000, has a useful life of 5 years and an estimated salvage value of $50,000. How much depreciation expense should the company recognize in year 4 if it is using the sum-of-the- years' digits method of depreciation?
A. 30,000
B. 80,000
C. 26,666
D. 20,000
عرض الإجابة
اجابة صحيحة: D
السؤال #32
The sum of the squares of 1,200 observations equals 9,830. The sum of the observations equals 1,510. The population standard deviation of the observations equals ________.
A.
B.
C.
D.
عرض الإجابة
اجابة صحيحة: B
السؤال #33
What monthly payment would repay a $28,500 car loan over 60 months, assuming your loan has an interest rate of 3.9% per year, compounded monthly?
A. 492
B. 764
C. 423
D. 550
E. 523
عرض الإجابة
اجابة صحيحة: E
السؤال #34
Use the following financial data on Enterprise:
A. ale of equipment $32,000
B. oss on equipment sale $9,000
C. ividends paid $12,500
D. urchase of an office suite $104,000
E. ommon stock repurchase $45,000
عرض الإجابة
اجابة صحيحة: C
السؤال #35
Julius Christus is an AIMR member and a vice president in the Risk Control department of a major commercial bank. Julius recently discovered that Jill Chapman had been grossly negligent in her duties involving monitoring of trading limits and violations by the trading desk. This is the first time Jill has been found to be remiss in her duties. Which of the following actions is the minimum necessary for Julius to be in compliance with Standard III (E) - Responsibilities of Supervisors?
A. nitiate an inquiry and take steps, such as placing limits on Jill's activities and increasing the monitoring of her activities to ensure that future violations do not occur
B. etermine the extent of the violations and warn Jill in no uncertain terms that a repeat incidence would lead to her losing the job
C. erminate Jill's employment
D. eport the misconduct to his superiors and warn Jill in writing that future misconduct would lead to immediate termination of employment
عرض الإجابة
اجابة صحيحة: A
السؤال #36
The cash spent on replacing operating capacity used up in the normal course of business is classified as:
A. nvesting cash flow
B. perating cash flow
C. ither operating cash flow and investing cash flow
D. inancing cash flow
عرض الإجابة
اجابة صحيحة: A
السؤال #37
What is another name for the alternate hypothesis?
A. one of these answers
B. ejected hypothesis
C. esearch hypothesis
D. ull hypothesis
عرض الإجابة
اجابة صحيحة: C
السؤال #38
If a company converted a short-term note payable into a long-term note payable, this transaction would
A. one of these answers
B. ncrease working capital
C. ecrease working capital and the current ratio
D. ncrease both working capital and the current ratio
E. ecrease only working capital
عرض الإجابة
اجابة صحيحة: D
السؤال #39
What is the difference between a sample mean and the population mean called?
A. ampling error
B. oint estimate
C. tandard error of the mean
D. one of these answers
E. nterval estimate
عرض الإجابة
اجابة صحيحة: A
السؤال #40
Which of the following statements about the Securities and Exchange Commission (SEC) is true?
A. he SEC must audit all financial statements of publicly traded corporations
B. he SEC has issued specific rules and regulations concerning the preparation of financial statements and the degree of detail that they contain
C. one of these statements are true
D. he SEC functions as the standard-setting body of the accounting profession
عرض الإجابة
اجابة صحيحة: B
السؤال #41
Tiarera has just landed a big account for her fund and is in a joyous mood. To celebrate, she decides to go out to a bar with some of her friends and share some drinks. Tiarera, however, has a weak constitution and cannot handle alcohol very well. In fact, many times in the past, she has gotten into drunken altercations at bars. Tonight turns out to be no different; Tiarera and her friends are arrested for disorderly conduct and convicted for misdemeanor. Tiarera has
A. as violated Standard II (B) - Professional Misconduct - because of a pattern of misconduct
B. ot violated any AIMR standard since the arrest was for a misdemeanor, an offense not serious enough to trigger sanctions on the first occurrence
C. as violated Standard II (B) - Professional Misconduct - because she has been involved in a misdemeanor
D. ot violated any AIMR standard since the arrest took place due to activities not related to her work
عرض الإجابة
اجابة صحيحة: A
السؤال #42
Which of the following is/are true?
A. he mean of a sample represents its average value
B. II only
C. V only
D. I only
E. only
عرض الإجابة
اجابة صحيحة: H
السؤال #43
An economy is currently experiencing high inflation. A Keynesian would suggest which of the following to combat this:
A. ncreasing interest rates
B. & III
C. , II, III & IV
D. , II & III
E. I & III
عرض الإجابة
اجابة صحيحة: D
السؤال #44
Maria Golino is a financially savvy client of Hector Gomez, a portfolio manager with a small investment firm. Maria recently directed Hector to execute all trades on her behalf with Omega Brokerage. Omega charges higher commissions than most other brokerage firms but in this case, has agreed to provide research to Hector on behalf of Maria. Hector does not object to this and starts directing Maria's trades to Omega. Hector has
A. iolated Standard IV (B
B. iolated Standard IV (A
C. iolated Standard IV (B
D. ot violated any standards
عرض الإجابة
اجابة صحيحة: D
السؤال #45
Both a fixed exchange rate and ________ can be maintained if a country is willing to use its monetary policy to maintain the fixed exchange rate.
A. urrent account deficit
B. urrency convertibility
C. apital account surplus
D. apital account deficit
E. urrent account surplus
عرض الإجابة
اجابة صحيحة: B
السؤال #46
In order to comply with Standard IV (B.4), Priority of Transactions, firms should prepare and distribute to firm personnel a code of ethics and compliance procedures. The code and procedures should do all of the following, EXCEPT:
A. nsure that procedures will be enforced
B. ontain disciplinary procedures
C. imit the number of access persons
D. stablish reporting and prior-clearance requirements
E. efine personal transactions, investment and prohibited transactions
عرض الإجابة
اجابة صحيحة: F
السؤال #47
Which of the following is true?
A. DP = GNP + (income of citizens received for factors of production supplied abroad) - (income paid to foreigners for their contribution to domestic output)
B. he GDP is always larger than GNP since it includes the output produced by foreign nationals living in the country
C. he GNP is always larger than GDP since it includes the income by the country's citizens living abroad
D. NP = GDP + (income of citizens received for factors of production supplied abroad) - (income paid to foreigners for their contribution to domestic output)
عرض الإجابة
اجابة صحيحة: D
السؤال #48
In the country of Merlenia, authorities require that tax reports and financial reports be identical. In Merlenia, there will be:
A. o recognition of deferred taxes
B. prevalence of LIFO accounting
C. o advantage to capitalizing a lease
D. o off-Balance-sheet financing
عرض الإجابة
اجابة صحيحة: A
السؤال #49
Suppose the average stock price in the above example were 40. How many shares will be used in the calculation of Diluted EPS now?
A. one of these answers
B. ,250,000
C. ,208,333
D. ,300,000
عرض الإجابة
اجابة صحيحة: C
السؤال #50
Which of the following AIMR standards states that a member shall not knowingly participate, or assist, in any violation of applicable laws, regulations, or the Code and Standards?
A. II
B. I
C.
D.
عرض الإجابة
اجابة صحيحة: D
السؤال #51
David's gasoline station offers 4 cents off per gallon if the customer pays in cash and does not use a credit card. Past evidence indicates that 40% of all customers pay in cash. During a one-hour period twenty-five customers buy gasoline at this station. What is the probability that at least ten pay in cash?
A. one of these answers
B.
C.
D.
E.
عرض الإجابة
اجابة صحيحة: B
السؤال #52
Which combination leads to the lowest income tax paid in earlier years of a firm?Inventory valuationDepreciation
A. IFOStraight-lineII
B. V
C. I
D.
E. II
عرض الإجابة
اجابة صحيحة: A
السؤال #53
As the size of the sample increases, what happens to the shape of the sampling mean?
A. egatively skewed
B. annot be predicted in advance
C. ositively skewed
D. one of these answers
E. pproaches a normal distribution
عرض الإجابة
اجابة صحيحة: E
السؤال #54
Mrs. Davis was in the habit of keeping $500 in currency in her jewelry chest in case she ever needed cash and the bank was closed. However, she recently got a combination debit/ATM card that gives her access to her checking account 24 hours a day. She deposits her $500 in cash into her checking account. How does this immediately impact the monetary base and the effective amount money available for transactions?
A. ecrease, increase
B. ncrease, decrease
C. o change, decrease
D. oth increase
E. o change for either
عرض الإجابة
اجابة صحيحة: F
السؤال #55
Morgan Dexter has been asked by his supervisor to present the features of interest rate swaps to a group of newly hired risk managers. In his presentation, Dexter notes that in a plain-vanilla interest rate swap, there is one floating rate-payer and one fixed-rate payer. Dexter points out that the netting arrangements typical to plain vanilla swaps reduce the credit risk for both counter parties Dexter also states that some interest rate swaps may have two floating rate payers. Are Dexter *s statements rega
A. nly Dexter's statement about reduced credit risk from netting is correct
B. nly Dexter's statement about two floating rate payers is correct
C. oth statements are correct
عرض الإجابة
اجابة صحيحة: C
السؤال #56
The statement of cash flows provides us with important clues on all of the following except:
A. inancial practices of management
B. rojected changes for the following year in current liability accounts
C. easibility of financing capital expenditures
D. bility to meet debt service requirements
عرض الإجابة
اجابة صحيحة: B
السؤال #57
When a domestic resident purchases a foreign stock directly on the foreign stock exchange, the transaction is entered as a ________ in the BOP account.
A. eficit
B. urplus
C. redit
D. ebit
عرض الإجابة
اجابة صحيحة: D
السؤال #58
Under what condition would a firm report cash, or cash equivalents as a long-term asset?
A. hen a firm maintains less than its' minimum target cash balance
B. hen funds are set aside for a specific long-term purpose such as plant expansion
C. ll of these answers
D. hen a firm has an under-funded pension obligation
E. one of these answers
عرض الإجابة
اجابة صحيحة: B
السؤال #59
If you have $5,000 in an account today and withdraw $2,000 in 3 years, how much can you withdraw from the account in 5 years, if the account earns interest at 8% per year, compounded annually?
A. 3,000
B. 5,013
C. 4,407
D. 5,714
E. 2,000
عرض الإجابة
اجابة صحيحة: B
السؤال #60
When a plant asset is sold for less than its book value
A. ash received plus accumulated depreciation plus loss on disposal equals the original cost
B. riginal cost minus accumulated depreciation equals cash received minus loss on disposal
C. ook value of the asset plus loss on disposal equals cash received
D. ash received plus accumulated depreciation minus loss on disposal equals the original cost
عرض الإجابة
اجابة صحيحة: A
السؤال #61
Fiduciary duty includes a duty of loyalty and a reasonable standard of ________.
A. are
B. one of these answers
C. rudence
D. ustody
عرض الإجابة
اجابة صحيحة: A
السؤال #62
The following account is affected when recording a return of inventory to the vendor under a perpetual inventory system.
A. urchase returns and allowances
B. ccounts receivable
C. ash
D. erchandise inventory
عرض الإجابة
اجابة صحيحة: D
السؤال #63
Standard V of the Standards of Professional Conduct deals with Relationships with and Responsibilities to ________.
A. upervisors
B. mployers
C. mployees
D. he Investing Public
E. one of these answers
عرض الإجابة
اجابة صحيحة: D
السؤال #64
A survey of passengers on domestic flights revealed these miles:Miles Flown Number of Passengers100 - 49916500 - 89941900 - 1299811300 - 1699111700 - 209992100 - 24996What is the range (in miles)?
A. ,100
B. ,999
C. ,499
D. ,399
E. one of these answers
عرض الإجابة
اجابة صحيحة: D
السؤال #65
If you deposit $245 into an account paying 5.5% per year simple interest, how much interest will be earned after 15 months?
A. 259
B. 15
C. 202
D. 261
E. 16
عرض الإجابة
اجابة صحيحة: E
السؤال #66
Under Standard IV (B.6), Prohibition against Misrepresentation, a member may discuss a "guaranteed" investment, as long as that investment is which of the following?
A. omestic stocks
B. oreign stocks
C. edium-term notes
D. ong-term bonds
E. one of these answers
عرض الإجابة
اجابة صحيحة: F
السؤال #67
A firm has total assets of 5,320, net sales of 8,395, average receivables of 894, current assets of 2,393 and a current ratio of 1.2. Its average receivables collection period equals ________.
A. 1
B. 9
C. 3
D. 8
E. eceivables turnover ratio = Net annual sales/average receivables
عرض الإجابة
اجابة صحيحة: D
السؤال #68
If a company estimates that its expected return on pension plan assets will increase to 9.5% from 9.0% this would be considered ________.
A. n extraordinary gain
B. change in accounting estimate
C. prior period adjustment
D. change in accounting principle
عرض الإجابة
اجابة صحيحة: B
السؤال #69
Monthly commissions of first-year insurance brokers are $1,270, $1,310, $1,680, $1,380, $1,410, $1,570, $1,180 and $1,420. These figures are referred to as:
A. one of these answers
B. aw data
C. requency distribution
D. give
E. istogram
عرض الإجابة
اجابة صحيحة: B
السؤال #70
The domestic demand Q for a good X at a price P is given by Q = 400 - 2P while the supply function is given by 100 + 4P. The world price for good X is 45 in international markets. All quantities are in thousands of units. If the government imposes a tariff of 5% on imports, the imports will fall by:
A.
B. 3
C. 6
D. 9
عرض الإجابة
اجابة صحيحة: C
السؤال #71
The consistency principle
A. equires that the company use a selected accounting method period after period
B. ll of these answers are correct
C. s limited to inventory pricing methods
D. equires that a company use one inventory method exclusively
عرض الإجابة
اجابة صحيحة: A
السؤال #72
Which accounting principle is consistent with reporting financial results that can be compared with previous periods?
A. dequate disclosure
B. atching
C. onsistency
D. ateriality
عرض الإجابة
اجابة صحيحة: C
السؤال #73
The GAAP require inventory to be valued using ________.
A. ower of market or cost
B. IFO or FIFO
C. IFO
D. IFO
عرض الإجابة
اجابة صحيحة: A
السؤال #74
Suppose that you write an investment newsletter. You track 12 stocks, and you classify these stocks into equal- sized categories of buy, sell, and hold. How many different ways can you classify these stocks into thosecategories?
A. 4,860
B. 6,540
C. 4,680
D. 4,650
عرض الإجابة
اجابة صحيحة: D
السؤال #75
A tire manufacturer advertises that "one-half of our new all-season radial tire last at least 50,000 miles. An immediate adjustment will be made on any tire that does not last 50,000 miles." You purchased four of these tires. What is the probability that all four tires will wear out before traveling 50,000 miles?
A. one of these answers
B. /10, or 0
C. /4, or 0
D. /16, or 0
E. /64, or 0
عرض الإجابة
اجابة صحيحة: D
السؤال #76
The Performance Presentation Standards maintain that composites should cover a minimum of ________ years, or present the entire record of the firm, if shorter.
A. en
B. ight
C. even
D. wo
E. ive
عرض الإجابة
اجابة صحيحة: A
السؤال #77
Which measures of central tendency are not affected by extremely low or extremely high values?
A. one of these answers
B. eometric mean and mean
C. ean and mode
D. ode and median
E. ean and median
عرض الإجابة
اجابة صحيحة: D
السؤال #78
Suppose we set the criterion for the rejection of the null that is extremely stringent, assuring us that the null will be definitely rejected. Then, which of the following is/are true?
A. he probability of a Type I error is zero
B. I only
C. one of these answers
D. only
E. I & III
عرض الإجابة
اجابة صحيحة: D
السؤال #79
In the Keynesian model, if the multiplier is 3, then ________.
A. PS must be approximately
B. PC must be approximately 2/3
C. PC must be approximately
D. PC must be approximately 1/3
E. PS must be approximately 2/3
عرض الإجابة
اجابة صحيحة: D
السؤال #80
Portfolios
A. an be switched from one composite to another at any time at the discretion of the investment manager
B. an never be switched from one composite to another, so managers must ensure they consult their clients and make appropriate choices
C. ust not be switched from one composite to another unless documented changes in client guidelines make switching appropriate
D. an only be switched from one composite to another at the end of a performance period and only if documented changes in client guidelines make switching appropriate
عرض الإجابة
اجابة صحيحة: C
السؤال #81
Recent data reveal that the ratio of inventories to sales has risen sharply, suggesting that businesses are experiencing an unplanned build-up in inventories. According to the Keynesian model, these findings indicate that
A. he economy is operating at full-employment equilibrium, which will probably be sustained in the foreseeable future
B. ggregate expenditures exceed output and, as a result, inflation is likely to accelerate
C. ggregate expenditures exceed output and, as a result, national income will rise
D. ggregate expenditures are less than output and, as a result, national income will decline
عرض الإجابة
اجابة صحيحة: D
السؤال #82
Two events, A and B, are independent if:
A. (A and B) = 1
B. (A and B) = P(A) + P(B)
C. (A and B) = 0
D. (A and B) = P(A) P(B)
عرض الإجابة
اجابة صحيحة: D
السؤال #83
Brokers who knowingly or recklessly engage in excessive trading in customers' accounts are known to be ________.
A. ver-selling
B. ixing
C. hurning
D. one of these answers
E. hingling
عرض الإجابة
اجابة صحيحة: C
السؤال #84
An increase in the nominal interest rate would
A. ncourage people to hold larger money balances
B. ause households to increase consumption
C. ncourage people to hold smaller money balances
D. orce the Fed to reduce the money supply
عرض الإجابة
اجابة صحيحة: C
السؤال #85
Which of the following is/are discrete random variables? I. The height of a student selected at random from 217 students. II. The slot number where the ball comes to rest in a roulette wheel. III. The color of a playing card drawn at random from a pack. IV. The speed of a car tracked by the radar gun of highway patrol.
A. V only
B. I & III
C. , II & IV
D. I only
E. II only
عرض الإجابة
اجابة صحيحة: B
السؤال #86
Rob Ealey, CFA, has just purchased an option-free bond with a 6.50% coupon that is currently selling at 94.73 to yield 7.25%. If yields increase by 50 bps, the new price of the bonds would be 91.41, and if yields decrease by 50 bps the new price of the bond would be 98.20. Determine the approximate new price of the bond if yields decrease by 75 basis points.
A. 9
B. 9
C. 04
عرض الإجابة
اجابة صحيحة: B
السؤال #87
When the Percentage of Sales method is used, the estimated bad debt expense is calculated by
A. ividing total sales on account by the percentage
B. ubtracting the percentage of net sales on account from the balance of allowance for uncollectible accounts
C. ultiplying total sales on account times the percentage
D. ultiplying net sales on account times the percentage
عرض الإجابة
اجابة صحيحة: D
السؤال #88
As an analyst for Donavan Financial Advisors, Lou Marvin must estimate the appropriate inputs for the firm's equity valuation models. Donavan's preferred valuation model is the single-stage dividend discount model (DDM). Members of Marvin's valuation team have supplied him with several pieces of data related to TMQ Utilities, including the company's earnings and dividends from the most recent year, the expected real risk-free rale, and the expected nominal growth in net income. To estimate the value of TMQ
A. rice-to-cash flow ratio and the expected cash flow per share
B. xpected rate of inflation and the expected earnings retention rate
C. istorical growth rates in dividends and the required return on the Utility bond index
عرض الإجابة
اجابة صحيحة: B
السؤال #89
A sample of assistant professors on the business faculty at state supported institutions in Ohio revealed the mean income to be $32,000 for 9 months with a standard deviation of $3,000. Using Chebyshev's Theorem, what is the proportion of faculty that earn more than $26,000 but less than $38,000?
A. t least 25%
B. one of these answers
C. t least 75%
D. t least 100%
E. t least 50%
عرض الإجابة
اجابة صحيحة: C
السؤال #90
Below is an example of an incorrectly prepared statement of cash flows. The descriptions of activities are correct.Cash from operating activities$60,000Net Income(4,000)Depreciation(2,000)Increase in accounts receivable(1,000)Increase in deferred tax liability$53,000Cash from investing activities($48,000)Purchase of marketable securities2,500Dividends received1,500Dividends paid($44,000)Cash from financing activities(500)Increase in Short-term debt(2,500)Increase in Long-term debt($3,000)Increase in cash$6,
A. one of these answers
B. 19,000
C. 15,000
D. 4,000
عرض الإجابة
اجابة صحيحة: B
السؤال #91
How many years would it take for a deposit of $10,000 to become $200,000, if interest of 9% per year is compounded annually?
A. 00
B. 8
C. 34
D. 4
E.
عرض الإجابة
اجابة صحيحة: D
السؤال #92
Which of the following best describes an income statement?
A. n income statement reports changes over a period of time in component accounts that comprise the ownership of a firm
B. n income statement details the cash inflows and outflows that are related to a company's operating, investing, and financing activities over a period of time
C. one of these answers
D. n income statement summarizes the financial position of a company at a given point in time
E. n income statement measures a company's financial performance over a specified period of time
عرض الإجابة
اجابة صحيحة: E
السؤال #93
A company is currently being sued by a customer. A reasonable estimate can be made of the costs that would result from a ruling unfavorable to the company, and the amount involved is material. The company's managers, lawyers, and auditors agree that there is a remote likelihood of an unfavorable ruling. This contingency
A. one of these answers
B. hould be disclosed as a parenthetical comment in the balance sheet
C. hould be disclosed as an appropriation of retained earnings
D. hould be disclosed in a footnote
E. eed not be disclosed in a footnote
عرض الإجابة
اجابة صحيحة: E
السؤال #94
Various countries' securities laws permit a manager to pay up for goods and services without violating the manager's fiduciary duty, so long as the requirements of the law are followed. Each of the following are typical requirements, except:
A. he goods or services purchased must be for "brokerage service
B. he commission paid must be reasonable in relation to the research and execution services received
C. one of these answers
D. t all times, the manager must seek best price and execution
E. he manager's soft-dollar practice must be disclosed
عرض الإجابة
اجابة صحيحة: A
السؤال #95
If you owe a debt of $3,000 today and also owe $5,000 in 24 months, what single payment could you make 15 months from today that would pay off both of these debts, if interest is assessed at 8% per year, compounded monthly?
A. 8,024
B. 7,751
C. 7,980
D. 8,000
E. 9,041
عرض الإجابة
اجابة صحيحة: A
السؤال #96
In the basic Keynesian model of national income determination, aggregate expenditures refer to
A. he amount of demand for consumer goods that would arise if all citizens had all the income they wanted
B. he combined expenditures of consumers and businesses minus government spending
C. pending for consumption, investment and exports less imports plus government purchases of goods and services
D. onsumer spending measured in constant prices
E. he amount of GDP that could be produced if unemployment were zero
عرض الإجابة
اجابة صحيحة: C
السؤال #97
The weight of an offensive lineman may be 210 pounds, 210.1 pounds, 210.13 pounds or 210.137 pounds depending on the accuracy of the scale. What is this an illustration of?
A. one of these answers
B. iscrete random variable
C. ontinuous random variable
D. ll of these answers
E. omplement rule
عرض الإجابة
اجابة صحيحة: C
السؤال #98
A sample of the personnel files of eight male employees revealed that during a six month period, they lost the following number of days due to illness: 2, 0, 6, 3, 10, 4, 1 and 2. What is the mean deviation (in days)?
A. 3/8
B. one of these answers
C.
D.
E. 1/8
عرض الإجابة
اجابة صحيحة: A
السؤال #99
Frank Holmes, CFA, is reviewing Martha Inc, a distributor. Holmes is interested in the company's European- style call option, which has a value of $5.90. Currently, Martha's stock is trading at $33 per share and pays no dividend. The exercise price of both the call and put options is $30, with 80 days to expiration. The current risk- free rate is 5.50%. Martha's put option sells for $2.75. Calculate the synthetic call option value.
A. 3
B. 5
C. 6
عرض الإجابة
اجابة صحيحة: C
السؤال #100
In periods of rising prices, which inventory costing method results in the smallest income tax expense?
A. verage cost
B. erpetual
C. IFO
D. IFO
عرض الإجابة
اجابة صحيحة: D
السؤال #101
Each ________ needs to comprise portfolios or asset classes that represent a similar investment goal.
A. eturn
B. omposite
C. alue
D. enchmark
E. ix
عرض الإجابة
اجابة صحيحة: B
السؤال #102
Quasar, Inc., currently shows assets worth 5,000 and a debt of 1,500. During the year, it capitalized interest expense worth 300, of which 60 was amortized. Quasar's tax rate is 50%. If it had expensed the interest paid, which of the following would be true?
A. ts operating cash flow would be lower by 150
B. ts tax expense would be lower by 150
C. ts equity would be higher by 300
D. ts operating cash flow would be lower by 300
عرض الإجابة
اجابة صحيحة: A
السؤال #103
Which of the following would increase GDP?
A. uying a 10-year-old house
B. iving $100 to a charity
C. uying a new automobile made in Indiana by a Japanese owned firm
D. uying hamburger buns by McDonald's
عرض الإجابة
اجابة صحيحة: C
السؤال #104
How much must you deposit today in order to withdraw $1,500 in 1 year, $400 in 2 years and $1,500 in 4 years, assuming your money earns 6% per year, compounded annually?
A. 2,771
B. 2,821
C. 2,959
D. 3,029
E. 404
عرض الإجابة
اجابة صحيحة: C
السؤال #105
Minority interest on the consolidated balance sheet is listed ________.
A. one of these answers
B. s a liability
C. etween liabilities and shareholders' equity
D. s a component of shareholders' equity
E. s an asset
عرض الإجابة
اجابة صحيحة: C
السؤال #106
Which of the following is/are true about trading securities?
A. hey are current assets
B. only
C. I & III
D. , II & III
E. & II
عرض الإجابة
اجابة صحيحة: D
السؤال #107
What is the variable used to predict another variable called?
A. mportant
B. ausal
C. ndependent
D. one of these answers
E. ependent
عرض الإجابة
اجابة صحيحة: C
السؤال #108
A firm's quick ratio equals 1.31 and its cash ratio equals 1.19. If the firm has receivables of 693, its current liabilities equal ________.
A. ,129
B. ,693
C. ,775
D. ,926
عرض الإجابة
اجابة صحيحة: C
السؤال #109
New Gestalt, Inc., a software firm had a net income of 1.7 million last year. It has 200,000 common shares and 300,000 convertible bonds with face value of 100 outstanding. The convertible bonds carry a coupon of 4% and can be converted one-for-one. The average stock price last year was 39 and the maximum price was 57. The effective interest rate on the convertible debt is 8%. New Gestalt issued 100,000 preferred shares with face value 100 and a coupon of 5% on March 31st of last year. Assume the convertibl
A.
B. one of these answers
C.
D. 0
عرض الإجابة
اجابة صحيحة: C
السؤال #110
According to SFAS 95, cash and cash equivalents includes
A. ank accounts, U
B. isk-free assets with original maturities of 90 days or less
C. isk-free assets with original maturities of 30 days or less
D. ank accounts, U
E. nly bank accounts
عرض الإجابة
اجابة صحيحة: B
السؤال #111
Which of the following statements is NOT correct ?
A. ll of these statements are correct
B. tandards II through V contain principles guiding the general activities of members
C. embers who work in a country where the Code and Standards impose a higher degree of responsibility than local laws and regulations must adhere to the Code and Standards
D. embers are not required to report legal violations to the appropriate governmental or regulatory organizations
E. embers who work in a country where the Code and Standards impose a lesser degree of responsibility than local laws and regulations must adhere to the local laws and regulations
عرض الإجابة
اجابة صحيحة: B
السؤال #112
The loss from an uncollectible account is:
A. n asset
B. liability
C. regular expense of doing business
D. reduction in revenue
عرض الإجابة
اجابة صحيحة: C
السؤال #113
Which of the following determine(s) the supply curve?
A. upply curves of factor resources
B. & III
C. II & IV
D. , II, III & IV
E. , II & III
عرض الإجابة
اجابة صحيحة: D
السؤال #114
What entity is presently responsible for establishing accounting standards?
A. he Financial Accounting Standards Board
B. he FDA
C. he Securities and Exchange Commission
D. he Internal Revenue Service
E. he Federal Accounting Society Board of Directors
عرض الإجابة
اجابة صحيحة: A
السؤال #115
With regard to a theoretical Treasury yield curve constructed with the bootstrapping method:
A. very point on the curve is constructed by utilizing current on-the-run Treasury yields of various maturities
B. he yield for most maturities used to construct the Treasury yield curve are observed yields rather than interpolated yields
C. ny yield on the Treasury yield curve that is not one of the on-the-run maturities is only an approximation for that maturity
عرض الإجابة
اجابة صحيحة: C
السؤال #116
For ________ of five or fewer portfolios, the disclosure "five or fewer portfolios" may be made rather than a disclosure of the exact number of portfolios.
A. eturns
B. nvestments
C. egments
D. omposites
عرض الإجابة
اجابة صحيحة: D
السؤال #117
If a firm uses non-discretionary leverage, it must present performance using:
A. oth actual returns and all-cash basis
B. ll-cash basis i
C. ctual returns
D. one of these answers
عرض الإجابة
اجابة صحيحة: B
السؤال #118
What is the Net Present Value of this series of annual cash flows using an interest rate of 15% per year: Year0: <$25,000>, Year 1: $5,000, Year 2: $0, Year 3: $30,000? (Note that the <> are used to indicate a negative number).
A. 14
B. $926
C. 258
D. $291
E. $204
عرض الإجابة
اجابة صحيحة: B
السؤال #119
Tracy company reports the following in its statement of cash flows:Net Income $1,000Depreciation and Amortization 350Decrease (Increase) in Accounts receivable (10)Decrease (increase) in inventory 200Decrease (increase) in prepaid expenses 80Increase (decrease) in trade payables (300)Increase (decrease) in taxes payable 75Cash Flow from operations 1,395If Tracy shows depreciation expense of $275 in its income statement, cash paid for amortization is ________.
A. 75
B. 525
C. ot determinable
D. 0
عرض الإجابة
اجابة صحيحة: D
السؤال #120
A supervisor complies with Standard III (E) by establishing and enforcing ________ to prevent violations.
A. egal requirements
B. iduciary duties
C. one of these answers
D. ode of ethics
E. ompliance procedures
عرض الإجابة
اجابة صحيحة: E
السؤال #121
Which of the following is not true regarding the normal distribution?
A. t is symmetrical
B. t has a single peak
C. one of these answers
D. ean, median and mode are all equal
E. he points of the curve meet the X-axis at z = -3 and z = 3
عرض الإجابة
اجابة صحيحة: E
السؤال #122
Which of the following is/are true under accrual accounting?
A. evenues are recognized when goods are delivered
B. , III & IV
C. II only
D. & III
E. & IV
عرض الإجابة
اجابة صحيحة: C
السؤال #123
If you deposit $100 a month, beginning next month, for 20 years into an account paying 6% per year, compounded monthly, how much is in your account after that last deposit?
A. 46,204
B. 1,973,585,957
C. 24,000
D. 2,097
E. 3,678
عرض الإجابة
اجابة صحيحة: A
السؤال #124
Which of the following is used to calculate the actual adjustment for bad debt expense for the period?
A. ercent of accounts receivable
B. ercent of net sales
C. ging
D. ll of these answers
عرض الإجابة
اجابة صحيحة: B
السؤال #125
Inflation
A. auses the purchasing power of a dollar to rise
B. enerally benefits the poor at the expense of the rich
C. s measured by changes in the cost of a typical market basket of goods between time periods
D. lmost always benefits creditors at the expense of debtors
عرض الإجابة
اجابة صحيحة: C
السؤال #126
If an auditor issues an "adverse opinion" qualification in her opinion, she is referring to the fact that:
A. he firm's financial statements do not fairly represent the company's financial performance and position
B. here is considerable uncertainty in the firm's asset-liability valuation, thus causing a concern about its operational health
C. he firm has inadequate controls in place and needs an on-going, frequent audit
D. he firm's liquidity is in jeopardy and the firm may not survive for long
عرض الإجابة
اجابة صحيحة: A
السؤال #127
Companies reporting consolidated cash flows using the direct method must report all of the following cash receipts except for:
A. ther operating cash receipts, if any
B. ash from customers, including lessees, licensees and similar
C. epayments of funds from foreign subsidiaries
D. nterest and dividend payments received
عرض الإجابة
اجابة صحيحة: C
السؤال #128
A firm uses LIFO for inventory costing. The beginning inventory balance of the firm was 700. During the period,it purchased inventory worth 320 and sold goods worth 270. The market value of the inventory at the end of the period was 650. The total inventory expense during this period was ________.
A. 70
B. 70
C. 20
D. 40
عرض الإجابة
اجابة صحيحة: A
السؤال #129
Fifteen accounting majors had an average grade of 90 on a finance exam. Seven marketing majors averaged 85, while ten finance majors averaged 93 on the same exam. What is the weighted mean for the 32 students taking the exam?
A. one of these answers
B. 9
C. 9
D. mpossible to determine without more information
E. 9
عرض الإجابة
اجابة صحيحة: E
السؤال #130
Which of the following is/are true about marketable securities?
A. hey are carried on the books at the market value
B. & III
C. , II & III
D. I & III
E. I only
عرض الإجابة
اجابة صحيحة: C
السؤال #131
Which of the following AIMR Standards maintains that the financial analyst must preserve the confidentiality of information communicated to him by the client?
A. V (A)
B. one of these answers
C. I (B)
D. II (C)
عرض الإجابة
اجابة صحيحة: B
السؤال #132
Firms A and B have simple capital structure with the same number of common stock outstanding. A finances its operations relying on debt financing while B prefers issuing preferred equity. If both the firms had the same net income last year, Firm A will have a:
A. igher EPS than B
B. ower EPS than
C. ll of these answers can happen
D. he same EPS as B
عرض الإجابة
اجابة صحيحة: A
السؤال #133
What is the area under the normal curve for z > 1.79?
A. one of these answers
B.
C.
D.
E.
عرض الإجابة
اجابة صحيحة: E
السؤال #134
Relationships with and Responsibilities to the Investing Public are dealt with under:
A. tandard V
B. one of these answers
C. tandard III
D. tandard II
E. tandard IV
عرض الإجابة
اجابة صحيحة: A
السؤال #135
One of the functions of secondary markets is that they:
A. rovide liquidity, and a financial futures contract is an example of a security trading on such a market
B. rovide liquidity, and a private placement is an example of a security trading on such a market
C. rovide fees, and a financial futures contract is an example of a security trading on such a market
عرض الإجابة
اجابة صحيحة: A
السؤال #136
In the presentation of real estate performance, disclose any changes in ________, including unrealized gainsand losses.
A. ccounting
B. nvestment earnings
C. aluation
D. udit practices
E. ash flow
عرض الإجابة
اجابة صحيحة: C
السؤال #137
The deferred income tax account
A. s where the difference between income tax expense and income tax payable is reconciled
B. s always reported as a long-term liability since the tax is not due until the next fiscal year
C. s reported as an other asset even though it has a credit balance
D. one of these answers is correct
عرض الإجابة
اجابة صحيحة: A
السؤال #138
An investor has a required rate of return of 5% per year. How much will he pay for a seven-year ordinary annuity that pays $200 per year?
A. 1,093
B. 1,157
C. 1,215
D. 1,213
عرض الإجابة
اجابة صحيحة: B
السؤال #139
Willa Dowd collected the following information for a small-cap firm that she is evaluating:Stock price per share $20.50Expected sales $920 millionOperating expenses (excluding interest) $405 millionDepreciation amortization $44 millionReturn on equity (ROE) 12%Shares outstanding 31 millionCommon shareholders' equity $380 millionThe Price/Cash Flow (P/CF) for the small-cap firm is closest to:
A.
B.
C.
عرض الإجابة
اجابة صحيحة: A
السؤال #140
A product financing arrangement exists when
A. he party who manufactures the inventory gives extended terms to certain preferred customers
B. party transfers ownership of inventory to a purchaser yet retains the inventory in their own warehouse
C. ll of the answers would be accounted for as product financing arrangements
D. party bearing the risks and rewards of ownership transfers inventory to a purchaser, and in a related transaction agrees to repurchase the product at a specified price over a specified time
عرض الإجابة
اجابة صحيحة: D
السؤال #141
Where is Unearned Revenue reported in the financial statements?
A. iability section of the balance sheet
B. evenue section of the income statement
C. sset section of the balance sheet
D. perating expense section of the income statement
عرض الإجابة
اجابة صحيحة: A
السؤال #142
The performance benchmark for a currency overlay portfolio must be calculated in accordance with the portfolio's mandates, unless the benchmark is the ________ on a published benchmark.
A. ax return
B. ross hedge
C. urrency return
D. ean value
E. tandard deviation
عرض الإجابة
اجابة صحيحة: C
السؤال #143
A fixed-income portfolio manager at Franken Investments is considering adding a security to his existing portfolio. The bond, issued by KDJ Company, has an option adjusted spread (OAS) equal to 0.23% and a Z- spread equal to 0.15%. The manager is concerned that his portfolio is dominated by callable bonds and will only accept new securities if they contain no call options. Should the portfolio manager add the KDJ bond to his portfolio?
A. es, the negative option cost implies the bond is putable
B. o, the positive option cost implies the bond is callable
C. o, the negative option cost implies the bond is callable
عرض الإجابة
اجابة صحيحة: A
السؤال #144
According to the quantity theory of money, which one of the following economic variables would change in response to an increase in the money supply?
A. rices
B. elocity
C. eal income
D. mployment
عرض الإجابة
اجابة صحيحة: A
السؤال #145
An investor purchased a stock for $60 a share using margin from his broken If the initial margin requirement is 40%, and the maintenance margin requirement is 20%, which of the following best describes the price at which a margin call will initially be triggered?
A. elow $30
B. elow $45
C. elow $48
عرض الإجابة
اجابة صحيحة: B
السؤال #146
A market survey was conducted to estimate the proportion of homemakers who could recognize the brand name of a cleanser based on the shape and color of the container. Of the 1,400 homemakers, 420 were able to identify the brand name. Using the 0.99 degree of confidence, the population proportion lies within what interval?
A.
B.
C.
D.
E. one of these answers
عرض الإجابة
اجابة صحيحة: B
السؤال #147
Which of the following information would not be filed with the SEC by a publicly company?
A. roxy statement
B. ax return
C. 0K report
D. rospectus
عرض الإجابة
اجابة صحيحة: B
السؤال #148
An economy is currently in equilibrium at full employment. If there is an anticipated governmental demand- stimulus policy and people correctly anticipate the effects, which of the following effects can be seen in the short run?
A. he demand curve moves to the right
B. , II, III & IV
C. , III & IV
D. & III
E. II & IV
عرض الإجابة
اجابة صحيحة: B
السؤال #149
A study of 200 stamping firms revealed these incomes after taxes:Income After Taxes Number of FirmsUnder $1 million 102$1 million up to $20 million 61$20 million and more 37What is the probability that a particular firm selected has $1 million or more in income after taxes?
A.
B.
C.
D.
E. one of these answers
عرض الإجابة
اجابة صحيحة: B
السؤال #150
A stock has the following returns over 3 years: -10%, +15%, +25%. The annual geometric rate of return over the 3 years is ________.
A. 9
B.
C. 0
D.
E. 3
عرض الإجابة
اجابة صحيحة: H
السؤال #151
If you deposit $204.50 into an account paying 3.15% per year simple interest, how much interest will be earned after 3 years?
A. $19
B. 19
C. 24
D. 16
E. 18
عرض الإجابة
اجابة صحيحة: B
السؤال #152
Which of the following is/are TRUE?
A. ccrual accounting follows the matching principle
B. , II & IV
C. , II,
D. II & IV
E. , II & III
عرض الإجابة
اجابة صحيحة: A
السؤال #153
The nation of Myopia is having a massive inflation problem. To stabilize prices, the Myopian Central Bank decides to acquire large numbers of Capitalian Dollars (a very stable currency) and offer to exchange five Myopian Pesos for one Capitalian Dollar on demand. How does this impact the monetary base and the effective money supply for the nation of Capitalia?
A. oth decrease
B. o change, decrease
C. ecrease, increase
D. o change, increase
E. o change for either
عرض الإجابة
اجابة صحيحة: B
السؤال #154
An employee has a duty of ________ to his current employer, even if he has already disclosed plans to leave within the near future.
A. oyalty
B. udgment
C. one of these answers
D. agacity
E. rudence
عرض الإجابة
اجابة صحيحة: A
السؤال #155
Patterson Company has the following information of one of its vehicles purchased on January 1, 1992:Vehicle cost $50,000Useful life, years, estimated 5Useful life, miles, estimated 100,000Salvage value, estimated $10,000Actual miles driven:1992 30,0001993 20,0001994 15,0001995 25,0001996 12,000No estimates were changed during the life of the asset. The 1996 depreciation expense using the units-of- production method was ________.
A. 4,800
B. 4,000
C. 6,000
D. 10,000
E. 5,000
عرض الإجابة
اجابة صحيحة: B
السؤال #156
The chairman of the House Ways and Means committee, who has major sway on spending programs, has been researching the economy and believes that the nation is heading for an inflationary spiral. Inflation iscurrently not considered a problem. He proposes a fiscal policy solution. Which of the following would not impede his proposition from alleviating the problem?
A. ongressional opposition to spending cutsII
B. ecognition lag
C. II, IV
D. , II, IV, V
E. I, IV, V
عرض الإجابة
اجابة صحيحة: B
السؤال #157
A benefit period for accounting amortization can not exceed how many years ________.
A. 5
B. 0
C. 0
D. 5
عرض الإجابة
اجابة صحيحة: B
السؤال #158
A sample of size 100 is drawn from a population. The sample mean equals 35.2 and the variance of the sample equals 47.8. The 95% confidence interval for the population mean is given by:
A. 33
B. 35
C. 35
D. 33
عرض الإجابة
اجابة صحيحة: D
السؤال #159
What is the area under the normal curve between z = -1.0 and z = -2.0?
A.
B.
C.
D.
E. one of these answers
عرض الإجابة
اجابة صحيحة: D
السؤال #160
For the normal distribution, the mean plus and minus 1.96 standard deviations will include about what percent of the observations?
A. one of these answers
B. 0%
C. 8%
D. 5%
E. 9
عرض الإجابة
اجابة صحيحة: D
السؤال #161
What is your monthly payment, beginning next month, on a $19,000 loan, if you pay it off over 48 months and the interest rate is 5.9% per year, compounded monthly?
A. 398
B. 1,411
C. 448
D. 397
E. 445
عرض الإجابة
اجابة صحيحة: E
السؤال #162
Archie Boone, CFA, is the managing director at Hoffman Advisors, an alternative investment management company. Boone is reviewing the work of a real estate analyst and finds that in calculating net operating income (NOI) for a property, the analyst has understated vacancy by $3,000, overstated depreciation expense by $4,000, overstated insurance expense by $4,000, and understated interest expense by $2,000. If Boone corrects the analyst's estimates of NOI for all these items, the updated estimate will:
A. ncrease by $1,000 as the restatement of vacancy will be partially offset by the restatement of insurance expense
B. ncrease by $1,000 as the restatement of depreciation expense will be partially offset by the restatement of vacancy
C. ecrease by $1,000 as the restatement of insurance expense will be more than offset by the restatement of vacancy and interest expense
عرض الإجابة
اجابة صحيحة: A
السؤال #163
In a systematic random sampling method,
A. sample selected such that every member of the population has the same chance of being selected
B. sample is selected by randomly from within the first N members of the population and then selecting every Nth member of the population
C. sample is selected by drawing numbers from a normal probability distribution
D. sample is selected by first dividing the population into groups and then selecting members from each group
عرض الإجابة
اجابة صحيحة: B
السؤال #164
Which of the following are changes in accounting principle?
A. change from LIFO to FIFOII
B. , II, III and IV
C. , II and III
D. , III and IV
E. and III
عرض الإجابة
اجابة صحيحة: D
السؤال #165
If you have $4,000 in an account today and withdraw $2,000 in 3 years, how much can you withdraw from the account in 5 years, if the account earns interest at 8% per year, compounded annually?
A. 3,544
B. 3,407
C. 3,000
D. 2,000
E. 7,714
عرض الإجابة
اجابة صحيحة: A
السؤال #166
Peterson Manufacturing has earnings per share of $4.00 and paid a dividend of $1.00 per share. Peterson's return on equity is 16.0%. Peterson is considering a debt issue that would increase its financial leverage. Peterson is also considering increasing its dividend payout ratio. Assuming all other factors are constant, Peterson's potential growth rate:
A. ill increase due to the increased leverage, and increase further due to the higher payout ratio
B. ill increase due to the higher payout ratio, but this increase will be offset to some extent by the increased leverage
C. ill increase due to the increased leverage, but this increase will be offset to some extent by the higher payout ratio
عرض الإجابة
اجابة صحيحة: C
السؤال #167
Which of the following is/are true about stock dividends?
A. tock dividends lead to a decrease in the retained earnings account
B. I & III
C. & III
D. , II & III
E. only
عرض الإجابة
اجابة صحيحة: C
السؤال #168
Which of the following is/ are true?
A. ssets = Equity + LiabilitiesII
B. I & IV
C. only
D. & II
E. II only
عرض الإجابة
اجابة صحيحة: B
السؤال #169
A light bulb manufacturer would like to supply only those bulbs which have a life of 2,000 hours or more. Otherwise, it wants the bulbs to be rejected at the assembly line. The statistician hired by the bulb manufacturer is trying to frame the situation as a hypothesis testing problem. He should specify the null and alternate hypothesis as:
A. o: average life < 2,000; H1: average life > 2,000
B. o: average life = 2,000; H1: average life > 2,000
C. o: average life = 2,000; H1: average life < 2,000
D. o: average life >= 2,000; H1: average life < 2,000
عرض الإجابة
اجابة صحيحة: D
السؤال #170
The mean amount spent by a family of four on food per month is $500 with a standard deviation of $75. Assuming that the food costs are normally distributed, what is the probability that a family spends less than $410 per month?
A.
B.
C. one of these answers
D.
E.
عرض الإجابة
اجابة صحيحة: A
السؤال #171
Warranty liabilities:
A. esult when a company sells a product
B. ust also result in an expense during the same period as the revenue from the sale of the product
C. ll of these answers are correct
D. re estimated liabilities
عرض الإجابة
اجابة صحيحة: C
السؤال #172
Standard IV (B.4), Priority of Transactions, suggests implementing "________" in certain organizations to limit the number of access persons.
A. ag Orders
B. imit Orders
C. oison Pills
D. oken Confines
E. ences
عرض الإجابة
اجابة صحيحة: F
السؤال #173
Which of the following is/are required by AIMR-PPS with regards to calculation of returns?
A. he return for after-tax composites that hold both taxable and tax-exempt securities should be stated on an equivalent, "pre-tax" basis
B. , II and III
C. II only
D. and III only
E. one of them
عرض الإجابة
اجابة صحيحة: D
السؤال #174
When formulating an investment policy for a client, all of the following fall under the category of "investor constraints," except:
A. isk tolerance
B. iquidity needs
C. xpected cash flows
D. egulatory and legal circumstances
E. ime horizon
عرض الإجابة
اجابة صحيحة: A
السؤال #175
Which of the following would be counted in the calculation of GDP?
A. he sale of cocaine in the black market
B. he broker's fees from the sale of 100 shares of IBM stock
C. amage to a house caused by a hurricane
D. he sale of a rare coin to a coin collector
عرض الإجابة
اجابة صحيحة: B
السؤال #176
Michelieu tells a prospective client, "I may not have a long-term track record yet, but I'm sure that you'll be very pleased with my recommendations and service. In the three years that I've been in the business, my equity- oriented clients have averaged a total return of more than 26 percent a year." The statement is true, but Michelieu only has a few clients and one of his clients took a large position in a penny stock (against Michelieu's advice) and realized a huge gain. This large return caused the ave
A. es, because the statement misrepresents Michelieu's track record
B. es, because the statement about return ignores the risk preferences of his clients
C. o, because the statement is a true and accurate description of Michelieu's track record
D. o, because Michelieu is not promising that he can earn a 26 percent return in the future
عرض الإجابة
اجابة صحيحة: A
السؤال #177
An employee had the following percentage increases in salary over the last 5 years: 4%, 7%, 10%, 15%, 12%.The geometric mean of his salary increases equals ________.
A.
B.
C.
D.
عرض الإجابة
اجابة صحيحة: D
السؤال #178
________ accounting is mandatory for fixed-income securities.
A. ccrual
B. ash
C. lexible
D. qual
E. isk-free
عرض الإجابة
اجابة صحيحة: A
السؤال #179
Emmy Noether is a senior division manager at Harding & Harding, a money management firm. Emmy is quite fastidious about following the rules of the investment industry and has established specific procedures and guidelines designed to prevent any violations. Recently, it surfaced that one of the employees reporting to Emmy, William Bathwater, had been secretly using inside information on a computer maker to generate profits in his portfolio. William had been extremely clever at hiding these profits and only
A. as not violated any standard in the AIMR code of ethics
B. one of these answers
C. iolated Standard III (E) - Responsibilities of Supervisors - by failing to check William's behavior
D. iolated Standard III (B) - Duty to the Employer - by failing to check William's behavior
عرض الإجابة
اجابة صحيحة: A
السؤال #180
Two otherwise identical firms, A and B, have one difference. A has a higher interest expense than B, arising from its higher reliance on debt financing. All other accounting statistics, including net sales and expenses are equal for the two firms. The return on total capital for firm A will be __________ that for firm B.
A. ame as
B. nsufficient information to answer the question
C. ower than
D. igher than
عرض الإجابة
اجابة صحيحة: D
السؤال #181
In a period of falling prices, the inventory method that gives the lowest possible value for ending inventory is
A. IFO
B. IFO
C. ross profit
D. eighted average
عرض الإجابة
اجابة صحيحة: A
السؤال #182
An increase in the long-run aggregate supply curve indicates that
A. nemployment has increased
B. mployment has increased
C. atural unemployment has increased
D. otential real GDP has increased
عرض الإجابة
اجابة صحيحة: D
السؤال #183
Suppose the probability that oil prices will rise any given quarter is 0.51, and the probability that oil prices will stay level or decline is 0.49. If oil prices rise, GNP will contract by 1% with 80% probability, and expand by 0.5% with 20% probability. If oil prices decline or stay level, GNP will expand 3% with a 75% probability and contract 0.5% with a 25% probability. What is the expected change in GNP in the next quarter?
A. 0
B. 0
C. 0
D. 0
عرض الإجابة
اجابة صحيحة: A
السؤال #184
Regarding financial accounting for public companies, the role of the SEC as currently practiced is to
A. ake rules and regulations regarding filings with the SEC but not to regulate annual or quarterly reports to shareholders
B. evelop and promulgate most generally accepted accounting principles
C. ake rules and regulations pertaining more to disclosure of financial information than to the establishment of accounting recognition and measurement principles
D. one of these answers
E. egulate financial disclosures for corporate, state, and municipal reporting
عرض الإجابة
اجابة صحيحة: C
السؤال #185
Bay Co. purchased a 3-month U.S. Treasury bill. In preparing Bay's statement of cash flows, this purchase would
A. ave no effect
B. e treated as an outflow from lending activities
C. e treated as an outflow from financing activities
D. e treated as an outflow from operating activities
E. e treated as an outflow from investing activities
عرض الإجابة
اجابة صحيحة: A
السؤال #186
Augusta Sevilla has made the statements about company analysis and stock valuation:Statement 1:A growth company is a growth stock. A growth company has opportunities to make investments that yield returns above the firm's required rate of return. A growth company also offers higher rates of return on investments in its shares they are undervalued and generate high returns when complete information about the company arrives in the marketplace.Statement 2:A defensive stock has a low, but not negative, beta. A
A. oth statements are incorrect
B. nly Statement 1 is correct
C. nly Statement 2 is correct
عرض الإجابة
اجابة صحيحة: A
السؤال #187
If a frequency distribution has open-ended intervals at the extremes, which measure of central tendency is the most difficult to estimate?
A. ean
B. one of these answers
C. edian
D. ll of these answers
E. ode
عرض الإجابة
اجابة صحيحة: A
السؤال #188
Regarding beneficiaries and remaindermen, current life-income beneficiaries prefer to receive ________; remaindermen would rather have ________.
A. minimal current income; a high rate of current income
B. high rate of current income; growth and stability of principal
C. rowth and stability of principal; a high rate of current income
D. mall incremental principal repayments; predictable current income
E. one of these answers
عرض الإجابة
اجابة صحيحة: B
السؤال #189
What is the Net Present Value of this series of annual cash flows using an interest rate of 15% per year: Year0: <$10,000>, Year 1: $5,000, Year 2: $5,000, Year 3: $7,500? (Note that the <> are used to indicate a negative number).
A. 2,981
B. 5,077
C. 3,059
D. 3,224
E. 3,104
عرض الإجابة
اجابة صحيحة: C
السؤال #190
Kerry Garrett, CFA, manages a hedge fund. The hedge fund industry has enjoyed strong growth over the past ten years. Garrett states that the hedge fund industry has a goal of absolute returns. In addition, Garrett states that the industry's high Sharpe ratio indicates that hedge funds are superior investment vehicles. Is Garrett correct with regard to his statement on hedge fund returns and/or his statement on hedge funds as superior investment vehicles?
A. nly the statement on return is correct
B. nly the statement on superiority is correct
C. one
عرض الإجابة
اجابة صحيحة: A
السؤال #191
According to the AIMR-PPS when presenting results, annual returns for all years must be presented.Performance for periods of less than one year
A. ust be treated as all of the other performance results
B. ust not be included in the presentation
C. ust not be annualized
D. ust be prorated and appropriate disclosures made
عرض الإجابة
اجابة صحيحة: C
السؤال #192
What annual interest rate, compounded annually, would cause a series of 20 deposits of $500 to accumulate to $18,000, if the first deposit is made one year from today?
A.
B.
C.
D.
E.
عرض الإجابة
اجابة صحيحة: E
السؤال #193
Use the following financial data on Enterprise:
A. ale of equipment $32,000
B. oss on equipment sale $9,000
C. ividends paid $12,500
D. urchase of an office suite $104,000
E. ommon stock repurchase $45,000
عرض الإجابة
اجابة صحيحة: C
السؤال #194
If you owe $2,000 today and pay for it by making 20 monthly payments with the first payment made immediately (today), what is the size of this monthly payment, if interest accrues at 7% per year, compounded monthly?
A. 193
B. 191
C. 209
D. 105
E. 106
عرض الإجابة
اجابة صحيحة: D
السؤال #195
According to the Prudent Investor Rule, the trustee must:- adhere to loyalty, impartiality and ________- maintain overall portfolio risk at a reasonable level- provide for reasonable diversification of trust investments- act with prudence in deciding whether and how to delegate authority to experts and in selecting and supervising agents- be cost conscious when investing
A. ommitment
B. one of these answers
C. rudence
D. iversification
E. upervisors
عرض الإجابة
اجابة صحيحة: C
السؤال #196
William Henry, a quantitative analyst with Smith, Kleen & Beetchnutty Brokerage, is examining a data sample and has amassed the following information:Standard deviation of the sample: 0.97Number of observations: 109Degrees of freedom: 2Sample mean: 11.03Assume that Mr. Henry formulates a null hypothesis that states that the value of the population mean is equal to zero. Additionally, assume that the population standard deviation is unknown. Given this information, what is the standard error of the estimate?
A.
B.
C.
D. one of these answers is correct
E.
عرض الإجابة
اجابة صحيحة: B
السؤال #197
The mean of a normal distribution is 400 pounds. The standard deviation is 10 pounds. What is the area between 415 pounds and the mean of 400 pounds?
A. one of these answers
B.
C.
D.
E.
عرض الإجابة
اجابة صحيحة: B
السؤال #198
If prices in two countries are rising at the same annual rate, then the prices of imports and exports will:
A. ncrease in the country with the more valuable currency and decrease in the country with the less valuable currency
B. ncrease relative to domestically produced goods
C. ecrease relative to domestically produced goods
D. one of these answers
E. emain unchanged relative to domestically produced goods
عرض الإجابة
اجابة صحيحة: E
السؤال #199
A firm has a high debt-to-asset ratio. In an inflationary environment, in order to improve this ratio in earlier years, it will prefer:
A. IFO inventory valuation and accelerated depreciation
B. IFO inventory valuation and straight-line depreciation
C. IFO inventory valuation and straight-line depreciation
D. IFO inventory valuation and accelerated depreciation
عرض الإجابة
اجابة صحيحة: B
السؤال #200
Which of the following will most affect the valuation of a firm's receivables?
A. he rate of sales growth
B. one of these answers
C. he type of business that a firm is engaged in
D. he allowance for uncollectible accounts
E. he seasonality of a company's products
عرض الإجابة
اجابة صحيحة: D
السؤال #201
Another name for "covered" person is ________.
A. uardian
B. one of these answers
C. mbudsman
D. ccess person
E. iduciary
عرض الإجابة
اجابة صحيحة: D
السؤال #202
If you deposit $900 a year, beginning next year, for 20 years into an account paying 8% per year, compounded annually, how much is in your account after that last deposit?
A. 40,598
B. 50,003
C. 530,118
D. 48,304
E. 41,185
عرض الإجابة
اجابة صحيحة: E
السؤال #203
If you make an initial deposit $500 now into an account, an additional deposit of $800 in 2 years, and a final deposit of $300 in 4 years, how much is in your account in 5 years? Assume the account earns interest at 8% per year, compounded annually.
A. 2,120
B. 2,408
C. 2,066
D. 1,905
E. 2,331
عرض الإجابة
اجابة صحيحة: C
السؤال #204
Which of the following is NOT true about the responsibilities of a member with supervisory duties, as specified by Standard III (E) - Responsibilities of Supervisors?
A. ompliance activities must be designed to anticipate the activities most likely to result in misconduct
B. ompliance procedures must meet industry and regulatory standards
C. he supervisor is always accountable for the violations committed by those who report to him
D. f a member cannot discharge supervisory responsibilities due to an absence of compliance system, he or she should decline to accept the duties in writing till such a system is put into effect
عرض الإجابة
اجابة صحيحة: C
السؤال #205
Book value of a company is equal to all of the following except
A. he amount resulting if the company were to liquidate at amounts reported on the balance sheet
B. otal assets reduced by claims against them
C. he market value of the net assets
D. et asset value
عرض الإجابة
اجابة صحيحة: C
السؤال #206
If you buy an item for $1,500 and agree to pay for it with 36 monthly payments of $55.50, beginning next month, what annual interest rate, compounded monthly, are you being charged?
A. 4
B. 6
C. 8
D. 1
E. 9
عرض الإجابة
اجابة صحيحة: E
السؤال #207
The p-value in hypothesis testing:
A. quals the significance level
B. s less than the probability of type I error
C. quals the probability of type II error
D. one of these answers
عرض الإجابة
اجابة صحيحة: D
السؤال #208
If the correlation coefficient between two variables equals zero, what can be said of the variables X and Y?
A. ighly correlated
B. ot correlated
C. ependent on each other
D. one of these answers are correct
E. ll of these answers are correct
عرض الإجابة
اجابة صحيحة: B
السؤال #209
Which type of revenue recognition method(s) is used when there is uncertainty regarding the amount or collectibility of future cash flows?
A. ercentage-of-completion and installment methods
B. ompleted contract method
C. nstallment and cost recovery methods
D. nstallment method
E. ompleted contract and cost recovery methods
عرض الإجابة
اجابة صحيحة: C
السؤال #210
A 10-year 5% Treasury bond is issued at a price to yield 5.2%. Three months after issuance, market rates for 10-year Treasuries decline by 100 basis points. The most likely price of this bond at issuance and three months later is:
A. bove par at issuance, but below par three months later
B. elow par at issuance, but above par three months later
C. elow par at issuance, and below par three months later
عرض الإجابة
اجابة صحيحة: B
السؤال #211
A thorough analysis of financial statements should include an examination of which of the following sources of information?
A. ll of these are correct
B. he report of the independent external auditor
C. anagement's discussion and analysis of its financial condition and results of operation
D. orm 10-K reports
E. xplanatory footnotes that accompany financial statements
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اجابة صحيحة: A
السؤال #212
The bonds of Grinder Corp. trade at a nominal spread of 150 basis points (bp) above comparable maturity U.S. Treasury securities. The option adjusted spread (OAS) on the Grinder Corp. bonds is 75 bp. Using this information, and assuming that the Treasury yield curve is flat, which of the following statements is most likely to be true?
A. he zero-volatility spread should be 75 bp
B. he zero-volatility spread for these bonds is 225 bp
C. he option cost component of these bonds should be 75 bp
عرض الإجابة
اجابة صحيحة: C
السؤال #213
First National Bank currently does not have the legally required cash reserves on hand. The bank expects this situation will only last a day or two. In order to rectify the reserve problem, the bank treasurer borrows cash onthe intra-bank loan market. The loan was actually granted by the Central Bank. This is the only action by the Central Bank that day. How has the Central Bank's actions impacted the demand curve for the purchase of intra-bank loans and the interest rate paid on those loans?
A. emand curve shifts upward, interest rate falls
B. emand curve shifts upward, interest rate increases
C. uantity demanded increases, interest rate falls
D. emand curve does not change, interest rate increases
E. uantity demanded decreases, interest rates rise
عرض الإجابة
اجابة صحيحة: A
السؤال #214
Leading economists have predicted that the Federal Reserve will continue to pursue a stable monetary policy that has characterized the last five years, keeping the price level constant into the future. Given the Fed's monetary policy, the pure expectations theory and the liquidity preference theory would predict, respectively, the following yield curve shapes:
A. lat and flat
B. pward sloping and flat
C. lat and upward sloping
عرض الإجابة
اجابة صحيحة: C
السؤال #215
The retail industry has __________ asset turnover ratio compared to that of a capital intensive industry like the auto industry.
A. higher
B. bout the same
C. higher and lower are both possible
D. lower
عرض الإجابة
اجابة صحيحة: A
السؤال #216
Level I verification requires independent attestation that portfolio returns are calculated according to a(n) ________ weighted return methodology.
A. ize
B. rice
C. ime
D. isk
E. sset
عرض الإجابة
اجابة صحيحة: C
السؤال #217
How much would an original deposit of $2,500 grow to be after 6 and a half years, if the deposit earns interest at 8.5% per year, compounded monthly?
A. 4,335
B. 5,541
C. 3,601
D. 10,183
E. 3,570
عرض الإجابة
اجابة صحيحة: A
السؤال #218
Standard IV (
A. ) relates to two major components and is titled ________ and Objectivity
A. one of these answers
B. mpartiality
C. ustice
D. utonomy
E. ndependence
عرض الإجابة
اجابة صحيحة: E
السؤال #219
The main purpose of a statement of cash flows of a firm is to provide relevant information about
A. ifferences between net income and associated cash receipts and disbursements
B. he cash receipts and cash disbursements of an enterprise during a period
C. firm's ability to generate future positive net cash flows
D. firm's ability to meet cash operating needs
E. one of these answers
عرض الإجابة
اجابة صحيحة: B
السؤال #220
Which one of the following is NOT a condition of the binomial distribution?
A. ndependent trials
B. nly two outcomes
C. robability of success remains constant from trial to trial
D. t least 10 observations
E. one of these answers
عرض الإجابة
اجابة صحيحة: D
السؤال #221
Under adaptive expectations, a shift to a more expansionary macroeconomic policy will
A. educe unemployment in both the short and long run
B. ail to systematically reduce unemployment in either the short run or long run
C. educe unemployment in the short run but not in the long run
D. educe unemployment in the long run but not in the short run
عرض الإجابة
اجابة صحيحة: C
السؤال #222
What quarterly deposit do you need to make each quarter, starting next quarter, over the next 10 years in order to have a balance of $15,000 in your account, assuming the account starts with $1,000 in it and that the interest rate is 6% per year, compounded quarterly?
A. 242
B. 1
C. 1,293
D. 203
E. 30
عرض الإجابة
اجابة صحيحة: A
السؤال #223
Which of the following would not be included as equity in a corporate balance sheet?
A. ommon stock
B. referred stock
C. ash
D. etained earnings
عرض الإجابة
اجابة صحيحة: C
السؤال #224
Standard IV (B.4) deals with ________.
A. isclosure of Conflicts to Clients and Prospects
B. rohibition against Misrepresentation
C. one of these answers
D. isclosure of Referral Fees
E. riority of Transactions
عرض الإجابة
اجابة صحيحة: E
السؤال #225
Which of the following is/are required by AIMR-PPS with regards to calculation of returns?
A. or leveraged portfolios, the stated returns must be on an "all-cash" basis, removing the effects of debt financing
B. one of them
C. , II and III
D. and III only
E. II only
عرض الإجابة
اجابة صحيحة: D
السؤال #226
Sterling Drachma is a senior investment consultant currently researching a few high-risk internet stock companies which recently started trading on NASDAQ. Sterling manages 5 large and private investment accounts for which he has discretionary investment authority. Sterling is about 3 years away from retirement and his retirement portfolio is managed by Franc Escudo. Sterling has concluded from his research that two of the internet stocks he has been following are great buys and instructs Franc to divert pa
A. ranc has violated Standard IV (B
B. , II and III
C. and III only
D. I and III only
E. II only
عرض الإجابة
اجابة صحيحة: D
السؤال #227
According to the AIMR-PPS when presenting the performance record of composites containing portfolios that use leverage, which of the following statements are true?
A. f the use of leverage is discretionary, the performance presented must include the effects of the leverage
B. f the use of leverage is discretionary, performance on a restated, all-cash basis must be provided
C. ll of these statements are true
D. f the use of leverage is nondiscretionary, performance must be presented on an all-cash basis
عرض الإجابة
اجابة صحيحة: C
السؤال #228
"Statistical inference" refers to the process of:
A. rawing conclusions about the entire population based on the statistical characteristics of a sample
B. rawing inferences about the characteristics of a distribution based on population data
C. redicting the statistical characteristics of a randomly drawn sample based on the knowledge about the entire population
D. electing a probability sample and the statistical method used to analyze it
عرض الإجابة
اجابة صحيحة: A
السؤال #229
Which inventory costing method is most useful in estimating the amount of inventory lost or destroyed by theft, fire, or other hazards?
A. IFO
B. one of these answers
C. verage cost method
D. ross profit method
E. IFO
عرض الإجابة
اجابة صحيحة: D
السؤال #230
Stewart has been hired by Goodner Industries, Inc., to manage its pension fund. Stewart's fiduciary duty is owed to:
A. he management of Goodner
B. he participants and beneficiaries of Goodner's pension plan
C. he shareholders of Goodner
D. ach of these answers equally
عرض الإجابة
اجابة صحيحة: B
السؤال #231
Firm A uses the completed contract method and an otherwise identical Firm B uses percentage-of- completion method for revenue recognition in a project. Then, during the project,
A. irm A shows lower assets than B
B. irm B shows higher inventory than A
C. irm A shows higher equity than B
D. irm A shows higher inventory than B
عرض الإجابة
اجابة صحيحة: D
السؤال #232
A firm has long-term assets worth 3,812 and total assets worth 5,937. It has a total equity of 3,934 and long term debt of 879. The firm's current ratio equals ________.
A.
B.
C.
D.
عرض الإجابة
اجابة صحيحة: D
السؤال #233
A piece of equipment costs $250,000, has a useful life of 10 years and an estimated salvage value of $50,000. How much depreciation expense should the company recognize in year 7 if it is using the straight-line method of depreciation?
A. 10,000
B. 25,000
C. 140,000
D. 20,000
عرض الإجابة
اجابة صحيحة: D
السؤال #234
The peaks and valleys of the business cycle tend to be magnified using which inventory method?
A. IFO
B. IFO
C. ross profit method
D. eighted average
عرض الإجابة
اجابة صحيحة: B
السؤال #235
If an analyst is trying to estimate the value of a stock, using the formula E(Y | E) = [y_1 * P(y_1 |E) + y_2 * P (y_2|E) + ... y_n * P(y_n|E), the analyst is making use of:
A. ubjective probability
B. he multiplication rule for independent events
C. nconditional expectation
D. onditional expectation
عرض الإجابة
اجابة صحيحة: D
السؤال #236
Which one of the following will most likely reduce aggregate supply?
A. technological advance that reduces the cost of energy
B. n increase in the nation's net investment rate
C. n increase in the labor force participation rate
D. egulatory action that generates more benefits than costs
E. substantial increase in the minimum wage
عرض الإجابة
اجابة صحيحة: E
السؤال #237
Another name for flexible exchange rates is:
A. one of these answers
B. ll of these answers
C. loating exchange rates
D. oveable exchange
E. reely determined exchange
عرض الإجابة
اجابة صحيحة: C
السؤال #238
A boad matures in ten years, pays a 7% semiannual coupon, and is currently priced to yield 6.25%. The bond is callable at par beginning five years from now. Debbie Scott is planning to purchase this bond. Scott can currently reinvest coupon income from the bond at 5.50%. Which of the following statements is least accurate?
A. f the bond is called in six years, Scott's return will be less than 6
B. f Scott's reinvestment rate was 6
C. f the bond was priced to yield 5
عرض الإجابة
اجابة صحيحة: C
السؤال #239
Albert and Tye, who recently started their own investment advisory business, have registered to take the Level III CFA examination. Albert's business card reads, "Judy Albert, CFA Candidate." Tye has not put anything about the CFA designation on his business card, but promotional material that he designed for the business describes the CFA requirements and indicates that Tye participates in the CFA Program and completed Levels I and II. According to the Standards:
A. lbert has violated the Standards but Tye has not
B. either Albert nor Tye had violated the Standards
C. ye has violated the Standards and Albert has not
D. oth Albert and Tye have violated the Standards
عرض الإجابة
اجابة صحيحة: A
السؤال #240
You are given a risk-free rate of 7% per year, a portfolio return of 19% per year, and a standard deviation of portfolio return of 12% per year. What is the Sharpe measure of risk-adjusted performance?
A.
B.
C.
D.
عرض الإجابة
اجابة صحيحة: C
السؤال #241
Production of passenger cars in Japan increased from 3.94 million in 1986 to 6.74 million in 1994. What is the geometric mean annual percent increase?
A. 6
B.
C.
D. 7
E.
عرض الإجابة
اجابة صحيحة: E
السؤال #242
Rhonda McLeavon, a quantitative analyst with Churn Brothers Brokerage, has been instructed to perform a statistical analysis to test whether increases in marketing expenses amongst drug companies is positively related to institutional buying of these same companies' common stock. Rhonda begins her analysis and performs the following steps, in succession:Step 1: Formulating and stating the hypothesisStep 2: Identifying the appropriate test statistic and probability distribution Step 3: Specifying the signifi
A. one of these answers is correct
B. ollecting the data and performing the calculations
C. etermining the z-statistic
D. etermining the p-value
E. erforming and autocorrelation test to identify any heterskedasticity problems
عرض الإجابة
اجابة صحيحة: B
السؤال #243
Suppose you are modeling GNP, and you believe that the probability that GNP will expand if interest rates fall is 70%; if interest rates stay constant, you believe that there is a 29% chance of expanding GNP; if interest rates increase, you believe that there is a 1% chance of GNP expanding. You think that the likelihood of interest rates falling is 60%; of staying the same is 30%; of increasing is 10%. What is the unconditional probability of GNP expanding?
A. 9
B. 0
C. 0
D. 0
عرض الإجابة
اجابة صحيحة: C
السؤال #244
You are examining a group of 6 stocks within an industry. The industry average profit margin is expected to be 30%. For these stocks, the average profit margins have been 50%, 25%, 15%, 5%, 45%, and 30%. What is the mean absolute deviation of profit margins from the industry average?
A. 3
B. 3
C. 3
D. 3
عرض الإجابة
اجابة صحيحة: A
السؤال #245
Chances are 50-50 that a newborn baby will be a girl. For families with five children, what is the probability that all the children are girls?
A.
B. one of these answers
C.
D.
E.
عرض الإجابة
اجابة صحيحة: E
السؤال #246
Standard III (E) - Responsibilities of Supervisors points out that when violations do occur, ________ procedures may be inadequate.
A. ompliance
B. one of these answers
C. egal
D. iduciary duty
عرض الإجابة
اجابة صحيحة: A
السؤال #247
When merchandise inventory is purchased under a perpetual system, which account is debited?
A. ash
B. erchandise Inventory
C. ccounts Payable
D. urchases
عرض الإجابة
اجابة صحيحة: B
السؤال #248
Julia Chen, a portfolio manager for U.S.-based Dane Investments, has just established a short position in Swiss franc currency futures as part of a currency overlay strategy. The position consists of 100,000 contracts with an initial margin of $4,000, a maintenance margin of $2,500, and a contract price of 0.9120 USD/CHF. If the futures price on the subsequent two days is 0.9300, and 0.8928, respectively, what will be her margin account balance at the end of the second day?
A. 4,000
B. 6,200
C. 7,720
عرض الإجابة
اجابة صحيحة: B
السؤال #249
Tessmer is a hard-working employee working in the sales department of a large bank. In this capacity, Tessmer is allowed to have an expense account to be used to entertain clients and cover business expenses. Over the past 3 months, Tessmer's expenses have almost doubled, a large part coming from expenses attributed to "business expense." While his manager, Janus Lace, is suspicious about this and believes that Tessmer is using the account for personal expenses, he has no proof of this. All of Tessmer's rei
A. iolated the AIMR standard on Professional Misrepresentation
B. iolated the AIMR standard on Reasonable Costs
C. ot violated any AIMR standard
D. iolated the AIMR standard on Professional Misconduct
عرض الإجابة
اجابة صحيحة: C
السؤال #250
An AIMR member:
A. ust report any criminal activity to the appropriate legal or regulatory authority
B. , II, III and IV
C. I and IV only
D. , II and IV only
E. I, III and IV only
عرض الإجابة
اجابة صحيحة: B
السؤال #251
Which of the following methods is the best way of conducting a comparative financial statement analysis?
A. omparing of a company's balance sheet to its income statement
B. ll of these methods are equally good
C. reak-even analysis
D. n index-number trend series analysis
E. cash flow forecast
عرض الإجابة
اجابة صحيحة: D
السؤال #252
If an overstatement of depreciation by 100 and an understatement of accounts receivables by 40 causes a firm's net income to be understated by 70, the firm's tax rate is ________.
A. 5%
B. 0%
C. 0%
D. 0%
عرض الإجابة
اجابة صحيحة: D
السؤال #253
The accumulated depreciation account should show:
A. otal depreciation for fixed assets since the business was formed
B. nly the depreciation expense recognized during the current year
C. otal depreciation for fixed assets still in use
D. urrent depreciation expense plus estimated depreciation for next year
عرض الإجابة
اجابة صحيحة: C
السؤال #254
________ accounting is mandatory for fixed-income securities.
A. lexible
B. isky
C. otal
D. qual
E. ccrual
عرض الإجابة
اجابة صحيحة: E
السؤال #255
What single deposit could you make today in order to have $500,000 in 30 years, assuming it earns interest at 9% per year, compounded monthly?
A. 19,423
B. 215,024
C. 23,682
D. 33,943
E. 53,512
عرض الإجابة
اجابة صحيحة: D
السؤال #256
Parts of the standards that are ________ must be observed.
A. estraining
B. andatory
C. ecommended
D. uggested
E. nhibiting
عرض الإجابة
اجابة صحيحة: B
السؤال #257
At a local burger joint, 3 workers receive $5.3 per hour, 4 workers receive $4.9 per hour and 2 workers receive $8.1 per hour. The average pay of a worker at the joint is ________.
A. 5
B. one of these answers
C. 5
D. 6
عرض الإجابة
اجابة صحيحة: C
السؤال #258
Which of the following is/are true under accrual accounting?
A. xpenses are recognized as services are used
B. & III
C. , II, III & IV
D. , II & IV
E. I, III & IV
عرض الإجابة
اجابة صحيحة: C
السؤال #259
Smithers is a financial analyst with XYZ Brokerage Company. She is preparing a purchase recommendation on JNI Corporation. Which of the following situations would represent a conflict of interest for Smithers and, therefore, would have to be disclosed?
A. mithers is on a retainer as a consultant to JNI
B. I and III only
C. , II and III only
D. I only
E. and IV only
عرض الإجابة
اجابة صحيحة: B
السؤال #260
The joint probability of events A and B occurring equals 0.11. The probability of neither A nor B occurring equals 0.64. If P(A) equals 0.24, the probability of B occurring equals ________.
A.
B.
C.
D.
عرض الإجابة
اجابة صحيحة: D
السؤال #261
Over a given year, a firm's total assets increased by $7,000 and total liabilities decreased by $4,000. If the firm did not issue any new equity and paid out $1,500 in dividends, then its net income during the year was ________.
A. 1,500
B. 9,500
C. 4,500
D. 12,500
عرض الإجابة
اجابة صحيحة: D
السؤال #262
The loss from an uncollectible account is
A. n asset
B. regular expense of doing business
C. liability
D. reduction in revenue
عرض الإجابة
اجابة صحيحة: B
السؤال #263
If the Central Bank wishes to diminish unemployment, it would attempt to ________ the money supply by ________ short-term interest rates.
A. ecrease, increasing
B. tabilize, decreasing
C. tabilize, increasing
D. ncrease, decreasing
E. ncrease, increasing
عرض الإجابة
اجابة صحيحة: D
السؤال #264
Firms A and B are identical. In one year, Firm A's statements have the beginning inventory understated and the ending inventory overstated. Then,
A. 's tax payment is higher
B. & IV
C. I & III
D. & III
E. I & IV
عرض الإجابة
اجابة صحيحة: A
السؤال #265
What quarterly payment is required beginning one period from today to pay off a $4,000 debt, if interest accrues at 8% per year, compounded quarterly, and the debt is to be retired in 5 years?
A. 1,001
B. 244
C. 848
D. 407
E. 214
عرض الإجابة
اجابة صحيحة: B

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