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[Level 1] CFA Level 1 - 模考试题(1)(PM) Q66-70

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发表于 2015-7-17 09:18:19 | 显示全部楼层 |阅读模式
本帖最后由 catherine 于 2015-7-17 09:19 编辑
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Question 66
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; I3 R) S% ]3 N# _6 pWhich of the following items for a mutual funds company is least likely to be considered an operating item on the income statement?! T1 Q% {* I9 K' R7 m5 C& z3 w
A)    Interest income.
2 E' D- H  ?- r& J! XB)   Interest expense.1 b7 ]+ d( l+ `9 x; X  @3 N) U
C)   Income tax expense.
$ X- F7 w6 }$ o, Z  ?/ gD)   Financing expenses.
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' ]( E3 {. X; m答案和详解:
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Question 67% {0 C) i5 C! V4 V
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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:
  a1 N6 m  l7 b6 _3 I& pTake-or-pay contract         Sale of receivables with recourse- k& e2 }, x; N4 l/ V! Q
A)    not affect the current ratio       decrease the total debt-to-equity ratio
6 C# I6 Z" c/ N- P+ N! L: gB)   decrease the current ratio       increase the total debt-to-equity ratio
$ @/ \2 c+ K1 PC)   decrease the current ratio       decrease the total debt-to-equity ratio' M' h! G) D& W! @' {, x
D)   not affect the current ratio       increase the total debt-to-equity ratio
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答案和详解:9 |* t* A4 y% d1 M! h/ e
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Question 689 i$ x6 Q7 J8 ^8 f0 J7 |

. X9 x5 \. _+ z- tThe 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?  L: E: {) V3 c( n
       Short-term borrowings                    Advances to customers
% _6 c7 p  n2 c* q5 G3 l& E5 f. D2 cA)    Stable or decreased risk of liquidity problems    Deteriorating liquidity position
0 _: y. e" A# W8 A0 \B)   Increased risk of liquidity problems               Stable or improving liquidity position
. C6 }0 a) J) e3 w1 Y, g6 YC)   Increased risk of liquidity problems               Deteriorating liquidity position5 S& M0 m# _# W& v
D)   Stable or decreased risk of liquidity problems    Stable or improving liquidity position
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, ~: l/ `, ~" _! e答案和详解:& m! G" b2 s1 A, }4 u& y
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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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In the base year, Spider’s current ratio was 1.5. Spider’s current ratio as of December 31, 20X7 is closest to:
! s& R$ N' w5 Q) bA)    0.86.) R+ p/ K6 a- H! l7 c2 t
B)   1.50.
5 T. F* w( k9 T& s  @C)   1.29.  T! W+ k# ]) t' n/ u( P
D)   1.16.
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答案和详解:: e0 \  ?/ ^% ~5 C
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3 l# c  w0 e* v" ZQuestion 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 $7,500 for each of the next 5 years. - b7 E$ M( }) v, K+ d8 |' ~3 }
Calculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.
4 }5 \6 j% ?0 C. u5 y5 @' nNPV        IRR         Accept/Reject
3 Z) d. P0 [/ W; }) r- m# mA)    $15,070     14%        Accept
3 K8 q2 o) ~7 l2 b: s) DB)   $15,070     14%        Reject$ [8 ^0 ?" N8 ]# b; G$ V
C)   $3,318     20%        Accept
% q+ c6 B) e8 iD)   $3,318     20%        Reject
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答案和详解:) N; v, i4 s2 ], V. o
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 楼主| 发表于 2015-7-17 09:20:38 | 显示全部楼层
换个方式发布哦~
, d( _, J! v& J6 p& M8 D4 A大家可以先做题目,然后再回复看答案哈~
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发表于 2015-7-17 23:26:54 | 显示全部楼层
THANKS!
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发表于 2019-5-14 09:18:03 | 显示全部楼层
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发表于 2019-5-18 16:58:33 来自手机 | 显示全部楼层
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