CFA-Level-I 無料問題集「CFA Institute CFA Level I Chartered Financial Analyst」
Which of the following statement(s) is/are true?
I). Should an error that understates the ending merchandise inventory not be discovered, the Retained
Earnings account will be overstated at the end of the subsequent year.
II). The gross profit is 45% of net sales. The cost of goods sold then must be 55% of the net sales.
III). If the cost of goods sold increases by 1% of sales during the period, the gross profit and net income will decrease by 1% of sales because of this increase.
IV). The average inventory totals $20,000 and the cost of goods sold totals $200,000. The inventory turnover rate is 15.0.
I). Should an error that understates the ending merchandise inventory not be discovered, the Retained
Earnings account will be overstated at the end of the subsequent year.
II). The gross profit is 45% of net sales. The cost of goods sold then must be 55% of the net sales.
III). If the cost of goods sold increases by 1% of sales during the period, the gross profit and net income will decrease by 1% of sales because of this increase.
IV). The average inventory totals $20,000 and the cost of goods sold totals $200,000. The inventory turnover rate is 15.0.
正解：C
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A company signs a long-term construction contract for $10 million. In the first Year of the contract, costs to date totaled $4 million, of an estimated $8 million in costs. The company received cash payments of $7 million. The gross profit recognized in year one, under the percentage of completion method would be:
正解：C
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An automatic machine inserts mixed vegetables into a plastic bag. Past experience revealed that some packages were underweight and some were overweight, but most of them had satisfactory weight.
Weight % of Total Underweight 2.5 Satisfactory 90.0 Overweight 7.5
Three packages are selected from the food processing line. What is the probability of selecting and finding that all three of them are underweight?
Weight % of Total Underweight 2.5 Satisfactory 90.0 Overweight 7.5
Three packages are selected from the food processing line. What is the probability of selecting and finding that all three of them are underweight?
正解：A
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Consider a stock call option with the following characteristics:
Type of option: call option on stock Underlying asset: 100 shares of Coca Cola stock Exercise price: $60 per share Premium: $1.25 per share Expiration date: November
Let the current market price of Coca Cola stock be $62.75 per share. In this case, the call option:
Type of option: call option on stock Underlying asset: 100 shares of Coca Cola stock Exercise price: $60 per share Premium: $1.25 per share Expiration date: November
Let the current market price of Coca Cola stock be $62.75 per share. In this case, the call option:
正解：B
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Which of the following is/are source(s) of economic inefficiency that arise under monopoly?
I). Since legally protected monopolists can often earn economic profit, government protection of monopoly producers will encourage rent-seeking activities.
II). A monopolist will fail to expand output to the level where the consumer's valuation of the marginal unit equals the producer's cost of producing the unit.
III). Monopoly reduces the ability of consumers to discipline the seller of a product.
I). Since legally protected monopolists can often earn economic profit, government protection of monopoly producers will encourage rent-seeking activities.
II). A monopolist will fail to expand output to the level where the consumer's valuation of the marginal unit equals the producer's cost of producing the unit.
III). Monopoly reduces the ability of consumers to discipline the seller of a product.
正解：C
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You evaluate the monthly performance of your portfolio managers against a broad market index. At the end of each year, you add up the number of months in which their performance exceeded that of the market index. If the probability of beating the market index each month, after expenses and sales loads, is
6 5%, what is the mean and variance of the number of months in a year a manager would beat the index?
6 5%, what is the mean and variance of the number of months in a year a manager would beat the index?
正解：C
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Cash dividends of $48,500 were declared. The beginning and ending balance of the Cash Dividends
Payable account was $8,000 and $10,500, respectively. On the statement of cash flows, the cash dividend activity would be reported as which of the following?
Payable account was $8,000 and $10,500, respectively. On the statement of cash flows, the cash dividend activity would be reported as which of the following?
正解：B
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On December 1, 2003, Myles Corporation leased office space for 10 years at a monthly rental of
$ 100,000. On that date Myles paid the landlord the following amounts:
Rent deposit: $100,000 First month's rent 100,000 Last month's rent 100,000 Installation of new walls and offices: 540,000 Total: $840,000
The entire amount of $840,000 was charged to rent expense in 2003. What amount should Myles have charged to expense for the year ended December 31, 2003?
$ 100,000. On that date Myles paid the landlord the following amounts:
Rent deposit: $100,000 First month's rent 100,000 Last month's rent 100,000 Installation of new walls and offices: 540,000 Total: $840,000
The entire amount of $840,000 was charged to rent expense in 2003. What amount should Myles have charged to expense for the year ended December 31, 2003?
正解：A
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