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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& ]4 _# d8 {$ D- t, R: l
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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?
- f# p3 o9 _0 R9 g% B9 wA)    Interest income.' J# g& _4 V( ^" P' X/ g
B)   Interest expense., [6 d7 v2 c" f" c8 H4 |5 _' y% ~
C)   Income tax expense.
% j3 X; h5 T0 ~2 q9 yD)   Financing expenses.
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答案和详解:
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Question 679 l" k0 B) \# E+ l( b
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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:4 [5 y; B4 X2 R
Take-or-pay contract         Sale of receivables with recourse; x) e: ~1 C. H$ }( n. k
A)    not affect the current ratio       decrease the total debt-to-equity ratio" |5 `6 d+ E. U
B)   decrease the current ratio       increase the total debt-to-equity ratio5 v& G" o4 J4 K, Q" f
C)   decrease the current ratio       decrease the total debt-to-equity ratio
% `+ S' P; M6 RD)   not affect the current ratio       increase the total debt-to-equity ratio2 O7 g$ A8 [  l; J( [0 m, v

$ w9 u6 }& t6 f% U6 x9 W7 ]答案和详解:
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# }$ N# l4 B; {( {0 U' b# @Question 68" O7 r0 X0 B: A9 q# F$ A
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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?
8 E" g( |4 Z9 y- Y       Short-term borrowings                    Advances to customers
  H, w# E: G& QA)    Stable or decreased risk of liquidity problems    Deteriorating liquidity position8 O% B' K/ u8 e8 J5 }
B)   Increased risk of liquidity problems               Stable or improving liquidity position
8 I  ~9 i5 e7 E8 g6 gC)   Increased risk of liquidity problems               Deteriorating liquidity position2 j! V7 F) x' u4 W, c2 W. m
D)   Stable or decreased risk of liquidity problems    Stable or improving liquidity position0 W+ B4 t9 N/ n0 u3 P* l' Q
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答案和详解:
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- U9 J6 N2 f+ Q% Y! j& t) zQuestion 69
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: V$ K* P. A# F8 gAn 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:- ^2 E' J4 w; k" q
A)    0.86.
' P& P( V2 |& n1 ?B)   1.50.
! G% R2 P% `/ j7 |' ^8 u  nC)   1.29.3 S7 b% c/ t8 |1 Z
D)   1.16.+ I. A9 O* ?+ A8 h$ Y

: ^6 C, f& [* t0 S答案和详解:6 m6 g* t. J) j# d2 R- ~; ]9 M% K
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Question 70
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( @' _- r3 U/ kEdelman 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 $7,500 for each of the next 5 years.
5 f4 V! A$ ?0 t  @Calculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.8 ?5 m3 d0 O; v/ S; n
NPV        IRR         Accept/Reject
1 r3 Y7 `& S' n1 t  @  m3 y5 x* SA)    $15,070     14%        Accept
. v+ ?6 m8 z. hB)   $15,070     14%        Reject! S0 B- z" o6 ]& r  D
C)   $3,318     20%        Accept
: T& U9 _( c& a# ZD)   $3,318     20%        Reject+ Q$ V4 B: Y! t

+ p9 [8 E: T& u& c8 H( E7 h# O& M答案和详解:
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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~
) v' H. j- |4 v1 [  K, Q$ u大家可以先做题目,然后再回复看答案哈~
CFA,你好!
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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 2019-5-18 16:58:33 来自手机 | 显示全部楼层
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