CFA Level 1 － 模考试题(1)(PM) Q66-70

catherine

Question 66
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Which of the following items for a mutual funds company is least likely to be considered an operating item on the income statement?
A)    Interest income.
B)   Interest expense.
C)   Income tax expense.
D)   Financing expenses.
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Question 67

The correct financial statement adjustments for a take-or-pay contract and for a sale of receivables with recourse that has been reported as a true sale would:
, \& X' ?; f! X$ v$ ?Take-or-pay contract         Sale of receivables with recourse
A)    not affect the current ratio       decrease the total debt-to-equity ratio
B)   decrease the current ratio       increase the total debt-to-equity ratio
C)   decrease the current ratio       decrease the total debt-to-equity ratio
  {8 z$ z8 c. U* S1 @D)   not affect the current ratio       increase the total debt-to-equity ratio
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" C$ z* t4 [/ r; s$ k. AQuestion 68

2 W  j. i6 q3 _  o: o% J* hThe financial analyst for Markham Inc. has reviewed the most recent financial statements and observed that while sales are up 10%, trade payables are up 20% and short-term liabilities are unchanged. There has also been an increase in advances from customers, also a liability. Based on this information, which of the following effects on Markham’s liquidity are most likely with respect to these changes?
; V+ ]* y' T' s  w       Short-term borrowings                    Advances to customers
A)    Stable or decreased risk of liquidity problems    Deteriorating liquidity position
" n0 o8 f2 u( \) L4 z' {! F) a+ uB)   Increased risk of liquidity problems               Stable or improving liquidity position
& w; s, E% y" K$ \% fC)   Increased risk of liquidity problems               Deteriorating liquidity position
* n# S+ Q) b9 G; `2 _) E- n4 ^D)   Stable or decreased risk of liquidity problems    Stable or improving liquidity position

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1 k$ y7 o; |' E+ z& U2 p) uQuestion 69
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An analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:
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5 s) E  E8 ]9 z7 V( SIn the base year, Spider’s current ratio was 1.5. Spider’s current ratio as of December 31, 20X7 is closest to:
A)    0.86.
- B& m9 M# Y9 VB)   1.50.
% C4 e5 ~- W* ~# T, MC)   1.29.
D)   1.16.

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. z4 B3 @( D4 D$ }, V, TQuestion 70

Edelman Enginenering is considering including an overhead pulley system in this year's capital budget. The cash outlay for the pully system is $22,430. The firm's cost of capital is 14%. After-tax cash flows, including depreciation are $7,500 for each of the next 5 years.
Calculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.
NPV        IRR         Accept/Reject
A)    $15,070     14%        Accept
B)   $15,070     14%        Reject
C)   $3,318     20%        Accept
# h/ c: d8 u& m6 J& V" x; f* ^2 y6 KD)   $3,318     20%        Reject

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catherine

换个方式发布哦~
) V$ c9 r9 Z3 A7 P大家可以先做题目，然后再回复看答案哈~

Ean

THANKS!

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