CFA Level 1 － 模考试题(1)(PM) Q66-70

catherine

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.
1 V  F2 C0 W# v5 r' I: M- dB)   Interest expense.
2 n+ Q7 Q% J% _$ FC)   Income tax expense.
1 j4 Q% \' X' a4 J0 n' rD)   Financing expenses.

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Question 67
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9 q$ F& }5 S- G% XThe 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
+ F, u0 E* X" e) |& c6 d* m' ?B)   decrease the current ratio       increase the total debt-to-equity ratio
C)   decrease the current ratio       decrease the total debt-to-equity ratio
6 ?* C0 U: d" a& LD)   not affect the current ratio       increase the total debt-to-equity ratio

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" F9 ~+ e  k; m9 u/ N- \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?
: h1 E+ t  C$ E/ O( q       Short-term borrowings                    Advances to customers
0 r) r. e# s, x6 UA)    Stable or decreased risk of liquidity problems    Deteriorating liquidity position
B)   Increased risk of liquidity problems               Stable or improving liquidity position
2 z+ |' a- J5 [6 I# r- Z  Z5 d% oC)   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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' |/ @( G- ~3 R6 |) k0 zQuestion 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:
1 F5 \; J" m" Q5 n( E% @$ nA)    0.86.
B)   1.50.
C)   1.29.
$ z0 d% S# v% D- p7 k. {" Y/ W$ i8 O7 gD)   1.16.

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Question 70
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0 x- l( p( P; O+ ~1 w8 ?* M( h; 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.
Calculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.
& M5 n+ Z. u1 t, YNPV        IRR         Accept/Reject
A)    $15,070     14%        Accept
B)   $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~
9 s" W# L4 \' T, i0 a+ g大家可以先做题目，然后再回复看答案哈~

Ean

THANKS!

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