CFA Level 1 － 模考试题(1)(PM) Q66-70

catherine

5 p& `& p# j1 j# x0 sQuestion 66

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.
' C; C. U# S; C$ z+ x6 G1 xB)   Interest expense.
C)   Income tax expense.
  D, b8 B8 ^' g- TD)   Financing expenses.

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/ e4 @" Z. c- V, wQuestion 67

3 }8 Z9 X) u- YThe 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
0 B* V( P$ {- t7 ]A)    not affect the current ratio       decrease the total debt-to-equity ratio
- K$ \0 [  M) p% w9 G% S" sB)   decrease the current ratio       increase the total debt-to-equity ratio
C)   decrease the current ratio       decrease the total debt-to-equity ratio
  Q' W! t6 k  N; H/ MD)   not affect the current ratio       increase the total debt-to-equity ratio

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Question 68

8 @& n" b  C1 T# M1 L- z9 `) XThe 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
* r7 u5 q) U. T- |B)   Increased risk of liquidity problems               Stable or improving liquidity position
9 o$ x6 Q: g, uC)   Increased risk of liquidity problems               Deteriorating liquidity position
' C6 q  G6 A3 V, _D)   Stable or decreased risk of liquidity problems    Stable or improving liquidity position

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0 b" [- c7 Y8 L7 P- U0 x! A9 ~  dQuestion 69

: `8 X) e1 B0 |$ F4 l5 x4 iAn 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:
# B! F( r/ m/ k8 CA)    0.86.
B)   1.50.
9 l1 N7 ], G4 j  m! j* l" h9 \C)   1.29.
* \- q$ ]" ~# rD)   1.16.
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5 s2 X' O9 n" B6 W3 E2 \: E: GQuestion 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 $7,500 for each of the next 5 years.
' B8 Y- a4 O# ~' z8 m# D9 |Calculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.
. ~; p9 }# C$ h0 ^2 `NPV        IRR         Accept/Reject
# e3 ^5 ]" _& \A)    $15,070     14%        Accept
3 q5 l+ a( |$ a5 o( dB)   $15,070     14%        Reject
C)   $3,318     20%        Accept
& _+ J% {& A9 h: Z7 a; J/ i1 T- ~  h  dD)   $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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