CFA Level 1 － 模考试题(1)(PM) Q66-70

catherine

Question 66
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7 S1 G- M0 K* c7 @4 X; sWhich of the following items for a mutual funds company is least likely to be considered an operating item on the income statement?
3 c: n8 E2 t. ]A)    Interest income.
B)   Interest expense.
C)   Income tax expense.
7 K, ^! }+ V5 L$ S4 G- p( ^! a3 CD)   Financing expenses.

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Question 67
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2 M: \9 z% Y' mThe 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:
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
4 N5 |6 }8 Y( F, @( [& n, a( iD)   not affect the current ratio       increase the total debt-to-equity ratio

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Question 68
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, A. ]2 Z( {! qThe 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?
( M7 R" E7 r4 V4 E, U1 |; Y7 k, b       Short-term borrowings                    Advances to customers
. F" @6 Z8 }% r, xA)    Stable or decreased risk of liquidity problems    Deteriorating liquidity position
: v. l) s4 _$ R! a5 HB)   Increased risk of liquidity problems               Stable or improving liquidity position
% P' i- x0 O3 S7 c& jC)   Increased risk of liquidity problems               Deteriorating liquidity position
* |2 K( w1 V$ Z* eD)   Stable or decreased risk of liquidity problems    Stable or improving liquidity position
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2 T- Q9 f+ B; F/ Z/ E8 \! ?9 kQuestion 69

# {) I) Z. i5 s8 |9 l( cAn analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:
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9 y8 G: t! K* `9 n* J' IIn the base year, Spider’s current ratio was 1.5. Spider’s current ratio as of December 31, 20X7 is closest to:
  N* C- L  M: _6 j+ T5 hA)    0.86.
0 Y8 A% I) t# g/ [- h( r2 YB)   1.50.
C)   1.29.
1 |/ s* D) q. |+ a3 ]D)   1.16.

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# _0 h% N! S8 ~$ ?9 Z& w3 Z& uQuestion 70
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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.
% i" Z0 q5 L& D) b& `NPV        IRR         Accept/Reject
A)    $15,070     14%        Accept
B)   $15,070     14%        Reject
" p' o3 e" `8 v" R* MC)   $3,318     20%        Accept
D)   $3,318     20%        Reject

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catherine

换个方式发布哦~
4 X; Q" H. L/ k* }. s" d大家可以先做题目，然后再回复看答案哈~

Ean

THANKS!

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。。。。。

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