CFA Level 1 － 模考试题(1)(PM) Q66-70

catherine

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( V$ h6 ]: D+ _* M% [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.
. Q6 `- r! q; \+ [6 i9 f4 ~  xB)   Interest expense.
9 t; m1 @  f) FC)   Income tax expense.
D)   Financing expenses.
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Question 67

, K2 \# g* o7 j( L! o5 t, 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
2 r  A6 ^" X4 u, g( S& kA)    not affect the current ratio       decrease the total debt-to-equity ratio
7 m8 D' T7 }. L( l7 y& D# `B)   decrease the current ratio       increase the total debt-to-equity ratio
C)   decrease the current ratio       decrease the total debt-to-equity ratio
1 r+ t3 n  c% x+ ~& Y) lD)   not affect the current ratio       increase the total debt-to-equity ratio
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Question 68
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The 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?
       Short-term borrowings                    Advances to customers
6 S; ]* Q; F" DA)    Stable or decreased risk of liquidity problems    Deteriorating liquidity position
B)   Increased risk of liquidity problems               Stable or improving liquidity position
" H8 F  O) T; n0 b5 WC)   Increased risk of liquidity problems               Deteriorating liquidity position
D)   Stable or decreased risk of liquidity problems    Stable or improving liquidity position

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- m/ r& \; Y: u% w+ WQuestion 69
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An analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:
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In 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.
, I7 n' i1 W% L" X% J6 R0 {6 GB)   1.50.
C)   1.29.
+ c( ?! \  {" w+ GD)   1.16.

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9 b' j& d; T' q7 m; kQuestion 70

* _7 G$ _" @( r8 dEdelman 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
. {: [8 z3 T2 ~9 X% a, aC)   $3,318     20%        Accept
8 }% S& ~% y2 t' hD)   $3,318     20%        Reject
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catherine

换个方式发布哦~
大家可以先做题目，然后再回复看答案哈~

Ean

THANKS!

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