CFA-Level-I無料問題集「CFA Institute CFA Level I Chartered Financial Analyst」

質問 1

A portfolio has an expected rate of return of 15% and a standard deviation of 15%. The risk-free rate is 6 percent. An investor has the following utility function: U = E(r) - 0.5Ao2. Which value of A makes this investor indifferent between the risky portfolio and the risk-free asset?

（A）7

（B）8

（C）6

正解：B 解答を投票する

解説: (JPNTest メンバーにのみ表示されます)

質問 2

On January 2, 2002, Heather Ltd. signed a ten-year noncancelable lease for a passenger ferry. The lease stipulated annual payments of $70,000 starting at the end of the first year, with title passing to
Heather at the expiration of the lease. Heather treated this transaction as a capital lease.
The ferry has an estimated useful life of 15 years, with no residual value. Heather uses straight-line amortization for all of its capital assets. Aggregate lease payments were determined to have a present value of $420,000, based on implicit interest of 10%.
In its 2002 income statement, what amount of amortization expense should Heather report from this lease transaction?

（A）$28,000.

（B）$46,667.

（C）$42,000.

正解：A 解答を投票する

解説: (JPNTest メンバーにのみ表示されます)

質問 3

U.S. GAAP requires that inventories are:

（A）stated at lower of cost or market.

（B）stated at replacement value.

（C）stated either at cost or market value, but the company must be consistent in which method they use.

正解：A 解答を投票する

解説: (JPNTest メンバーにのみ表示されます)

質問 4

A project has a conventional cash flow pattern and positive NPV. If the cash flows for the project, initial outlay, and future after-tax cash flows all double, then

（A）The IRR would stay the same and NPV would increase.

（B）The IRR would stay the same and NPV would stay the same.

（C）The IRR would increase and NPV would increase.

正解：A 解答を投票する

解説: (JPNTest メンバーにのみ表示されます)

質問 5

If the intersection of aggregate demand and short-run aggregate supply is to the left of long-run aggregate supply, and there is no shift in aggregate demand, in the long run the resource prices will
_ _____ and short-run aggregate supply will ______.

（A）increase, increase.

（B）decrease, decrease.

（C）decrease, increase.

正解：C 解答を投票する

解説: (JPNTest メンバーにのみ表示されます)

質問 6

What is the present value today of these annual cash flows: $1,000, $2,000, $3,000? Assume the first cash flow occurs 1 year from today and an interest rate of 10% per year, compounded annually.

（A）$2,754.32.

（B）$4,104.98.

（C）$4,815.93.

正解：C 解答を投票する

解説: (JPNTest メンバーにのみ表示されます)

質問 7

Investors who own the underlying commodity and enter futures contracts to sell it are referred to as?

（A）Hedgers

（B）Speculators

（C）Traders

正解：A 解答を投票する

解説: (JPNTest メンバーにのみ表示されます)

質問 8

______ are effectively a form of equity.

（A）Permanent deferred taxes, not temporary deferred taxes,

（B）Neither temporary deferred taxes nor permanent deferred taxes

（C）Temporary deferred taxes, not permanent deferred taxes,

正解：A 解答を投票する

解説: (JPNTest メンバーにのみ表示されます)

質問 9

Assume Google has a short interest of 75 million shares, while the average daily volume of shares traded is 70 million. Its current price is $450 and its average price over the last 30 days is $400. Google's short interest ratio is:

（A）1.52 days.

（B）1.125 days.

（C）1.07 days.

正解：C 解答を投票する

解説: (JPNTest メンバーにのみ表示されます)

質問 10

Northern Company reports income unrealized gains (losses) on its short-term investment portfolio in
Other Comprehensive Income (OCI). Its investment portfolio is classified as:

（A）Available for sale.

（B）Trading.

（C）Held-to-maturity.

正解：A 解答を投票する

解説: (JPNTest メンバーにのみ表示されます)

質問 11

When the average loss is zero, RSI becomes:

（A）50.

（B）100.

（C）zero.

正解：B 解答を投票する

解説: (JPNTest メンバーにのみ表示されます)

質問 12

Average fixed cost

（A）initially declines and then rises with increasing output.

（B）continually declines with increasing output.

（C）remains unchanged with increasing output.

正解：B 解答を投票する

質問 13

What type of charts does NOT provide four prices per data point entry?

（A）Candlestick chart.

（B）Bar chart.

（C）Point and figure chart.

正解：C 解答を投票する

解説: (JPNTest メンバーにのみ表示されます)

質問 14

Which of the following is the correct sequence of dates for dividends?

（A）Declaration date; Holder-of-record date; Ex-dividend date; and Payment date.

（B）Holder-of-record date; Declaration date; Ex-dividend date; and Payment date.

（C）Declaration date; Ex-dividend date; Holder-of-record date; and Payment date.

正解：C 解答を投票する

質問 15

Variable X is distributed normally and has a mean of 10. If the probability that an observation of X will be negative is 0.16, what is the coefficient of variation of X?

（A）1.0

（B）0.1

（C）0.32

正解：A 解答を投票する

CFA-Level-I 無料問題集「CFA Institute CFA Level I Chartered Financial Analyst」

弊社を連絡する

関連リンク

トップ試験