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.
B)   Interest expense.
# b3 v$ \( A1 N1 l' R) N9 }C)   Income tax expense.
D)   Financing expenses.
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, `& G: O6 k) s+ Z* MQuestion 67
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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:
Take-or-pay contract         Sale of receivables with recourse
A)    not affect the current ratio       decrease the total debt-to-equity ratio
B)   decrease the current ratio       increase the total debt-to-equity ratio
. [4 f0 l) l  _- D* tC)   decrease the current ratio       decrease the total debt-to-equity ratio
9 i6 E7 |( b; P$ H6 _. dD)   not affect the current ratio       increase the total debt-to-equity ratio

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; r5 m' i8 q. ]$ hQuestion 68

! A* L4 E5 [, ^" N& Z4 f' ZThe 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
8 E. s1 W7 Z; J! M6 J) m' w9 fA)    Stable or decreased risk of liquidity problems    Deteriorating liquidity position
B)   Increased risk of liquidity problems               Stable or improving liquidity position
5 x' e" i9 N4 x0 EC)   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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0 S6 v4 J" ?% z, f, c( S2 _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:
0 M, U+ n+ a" I7 s- Y- ?, R  E; ~A)    0.86.
B)   1.50.
C)   1.29.
D)   1.16.
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答案和详解：
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8 c4 Z3 x9 _0 t8 ~Question 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.
" T+ A. Z+ i4 j% @1 H- [( C# jCalculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.
1 }4 S% l/ c% l1 l4 F7 ~NPV        IRR         Accept/Reject
A)    $15,070     14%        Accept
B)   $15,070     14%        Reject
" T6 i" X' N4 u) l# o: CC)   $3,318     20%        Accept
; I/ X6 _1 b9 `8 q" J% QD)   $3,318     20%        Reject

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catherine

换个方式发布哦~
) J" C$ H" a3 |大家可以先做题目，然后再回复看答案哈~

Ean

THANKS!

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