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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 1 t# Z& i1 ^/ e$ o# L/ I8 o5 }

5 p& `& p# j1 j# x0 sQuestion 665 q; O; a( W3 X$ T8 ~1 p4 f5 q
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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?; P, L/ V/ _$ `1 f9 T2 y  P5 K8 L
A)    Interest income.
' C; C. U# S; C$ z+ x6 G1 xB)   Interest expense.5 S' l- a' {/ C4 }2 P9 _
C)   Income tax expense.
  D, b8 B8 ^' g- TD)   Financing expenses.+ Y2 b8 h; ^, z& F' s

4 Y* _: D4 H4 `) @( q# T答案和详解:
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/ e4 @" Z. c- V, wQuestion 670 Z, A& M! G2 C% T& ?  D3 M+ A1 A

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:. S- f6 c) J' D/ t" C( Z& V
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% ~1 Q- `6 N, S( ~
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 ratio5 X7 ~$ v, P  Y# Q$ M
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Question 683 m  I1 ]% Q8 I8 j

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?4 G8 J" t) ~, f( W: X; N4 ]
       Short-term borrowings                    Advances to customers% ~, W" Y$ g; @( x- ~' h; n: X
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 position4 y# S$ z- e) a5 R
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答案和详解:6 [9 M8 H4 l, W
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0 b" [- c7 Y8 L7 P- U0 x! A9 ~  dQuestion 698 L# o) F: m& V- _

: `8 X) e1 B0 |$ F4 l5 x4 iAn analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:" Q3 r1 ~. d. a$ B4 u
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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.* [+ Q2 G% B9 N6 m3 y# h& l* P5 z
B)   1.50.
9 l1 N7 ], G4 j  m! j* l" h9 \C)   1.29.
* \- q$ ]" ~# rD)   1.16.
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( ^3 d0 B2 K- Z! r7 f( Y. p/ x答案和详解:- ?6 I+ H" w) ?! n
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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)   $15,070     14%        Reject) r) q$ |( z8 y1 _1 \
C)   $3,318     20%        Accept
& _+ J% {& A9 h: Z7 a; J/ i1 T- ~  h  dD)   $3,318     20%        Reject8 T1 m2 ]+ U7 N# \, M3 T! J
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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~- N8 F3 L4 R% t- D" x8 l
大家可以先做题目,然后再回复看答案哈~
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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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