CFA Level 1 － 模考试题(1)(PM) Q66-70

catherine

  [" b0 p: U, t' b( H# O! MQuestion 66

/ Z4 `* \4 U1 X7 K1 ZWhich 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.
1 E7 L2 g' c, WB)   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:
* ~( q1 H# q( M+ y2 z4 E: uTake-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
# e0 T; l0 k" v$ @! @5 e9 e' AC)   decrease the current ratio       decrease the total debt-to-equity ratio
" c+ G; M: ?2 T6 c0 J2 dD)   not affect the current ratio       increase the total debt-to-equity ratio

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Question 68

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
A)    Stable or decreased risk of liquidity problems    Deteriorating liquidity position
B)   Increased risk of liquidity problems               Stable or improving liquidity position
1 l4 j3 ~! l5 p1 ~9 IC)   Increased risk of liquidity problems               Deteriorating liquidity position
. A2 \( X1 k! i; H2 _D)   Stable or decreased risk of liquidity problems    Stable or improving liquidity position

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Question 69
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An analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:



( J( a* f+ \8 h. L/ h4 D9 lIn 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.
' M! [4 `) w! ^5 f* y) L/ FB)   1.50.
- M8 Y! I8 ?/ ~5 l; VC)   1.29.
4 o6 y/ K9 L6 t5 l6 Q. pD)   1.16.

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Question 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 $7,500 for each of the next 5 years.
Calculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.
2 K  m( w$ e0 c1 S- Z' x: g) }NPV        IRR         Accept/Reject
A)    $15,070     14%        Accept
" P. A% ~: f4 `. kB)   $15,070     14%        Reject
C)   $3,318     20%        Accept
D)   $3,318     20%        Reject
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catherine

换个方式发布哦~
8 r% d' m2 V. \: N5 f大家可以先做题目，然后再回复看答案哈~

Ean

THANKS!

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