CFA Level 1 － 模考试题(1)(PM) Q66-70

catherine

& C& j2 X# F4 |; x" ]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.
0 I( b2 s9 G0 a% wD)   Financing expenses.

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% G, A5 w4 H  d* \4 t- rQuestion 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:
' Q% D$ i# \6 N& c1 W0 [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
% U' ?- y; \( z# y  \# \D)   not affect the current ratio       increase the total debt-to-equity ratio

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Question 68

% l# d& s; I( a! o- I" wThe 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?
, p! K2 j1 C3 [$ [. k" d       Short-term borrowings                    Advances to customers
0 |' E& ?- P( f" oA)    Stable or decreased risk of liquidity problems    Deteriorating liquidity position
B)   Increased risk of liquidity problems               Stable or improving liquidity position
1 I* N. c* J3 m# lC)   Increased risk of liquidity problems               Deteriorating liquidity position
/ @) E, x, z( i) G9 y5 ~, _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:
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0 e1 P$ l7 t- h& 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.
B)   1.50.
C)   1.29.
0 U# G" T. c4 b; y+ f5 b' v: R0 }D)   1.16.
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! C5 ]; @5 F: C" ]4 J/ NQuestion 70

( d  ]2 ?6 P8 X$ E0 A/ wEdelman 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.
2 U" Y6 s( w5 K. O5 f2 OCalculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.
2 S. w  c) v* E4 ~- ^9 L' n4 pNPV        IRR         Accept/Reject
A)    $15,070     14%        Accept
' V/ q6 C' K& k7 A1 l+ e' `) gB)   $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~
大家可以先做题目，然后再回复看答案哈~

Ean

THANKS!

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