CFA Level 1 － 模考试题(1)(PM) Q66-70

catherine

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6 {( k$ W' R$ a7 s% N9 P9 E) J% IQuestion 66

- _/ N, E; k/ p$ t+ e4 nWhich 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.
1 U2 w6 H* K+ _' k( IC)   Income tax expense.
D)   Financing expenses.
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4 w9 l1 U) ]/ ^1 X$ `Question 67

0 r4 e3 x7 l3 u' G) hThe 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
1 i" e6 ~1 ]  ~  s" dA)    not affect the current ratio       decrease the total debt-to-equity ratio
B)   decrease the current ratio       increase the total debt-to-equity ratio
0 {. Z5 [0 g' {C)   decrease the current ratio       decrease the total debt-to-equity ratio
D)   not affect the current ratio       increase the total debt-to-equity ratio
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+ ?0 G, |/ {" s5 j; ~* q! n答案和详解：
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3 }; o' V. K6 p) v6 x: {+ D6 cQuestion 68
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* K5 X: ^/ |* P4 sThe 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?
6 G' H, s4 X! |6 S8 P$ y       Short-term borrowings                    Advances to customers
. d! ^, q0 P1 h* A4 T. |A)    Stable or decreased risk of liquidity problems    Deteriorating liquidity position
6 p2 t- I) E$ R* a( |& U* ~( {/ TB)   Increased risk of liquidity problems               Stable or improving liquidity position
C)   Increased risk of liquidity problems               Deteriorating liquidity position
7 `' d! d7 u: ~2 e+ sD)   Stable or decreased risk of liquidity problems    Stable or improving liquidity position
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Question 69

An analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:
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% \8 `: W- V" l! i. w+ vIn 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.
D)   1.16.

答案和详解：

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* x8 V* A# T% T; UQuestion 70

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.
Calculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.
3 u: e# w5 `1 T* XNPV        IRR         Accept/Reject
7 x; \( v  E% Q' v% m- yA)    $15,070     14%        Accept
4 x/ B8 i9 F" w) LB)   $15,070     14%        Reject
0 P4 w9 E( i3 U/ W' W. VC)   $3,318     20%        Accept
D)   $3,318     20%        Reject
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& o' k$ `1 {3 x! v  \答案和详解：

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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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