CFA Level 1 － 模考试题(1)(PM) Q66-70

catherine

Question 66

9 P* a0 }/ }) u% o$ TWhich 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.
6 `# P% o6 j* e3 H. |' J0 DB)   Interest expense.
! `1 g0 Y' m% k7 tC)   Income tax expense.
D)   Financing expenses.
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答案和详解：
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Question 67

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
5 E$ c! H, P% Q( {A)    not affect the current ratio       decrease the total debt-to-equity ratio
( W0 F- e: X! |- e+ W1 ^  H0 }B)   decrease the current ratio       increase the total debt-to-equity ratio
4 A( G; J, n! S% H9 U' E5 i. ?3 q9 JC)   decrease the current ratio       decrease the total debt-to-equity ratio
! R) z% p* k3 c9 S+ i* @  }) R$ PD)   not affect the current ratio       increase the total debt-to-equity ratio
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" t* b) Y9 B* A( C答案和详解：
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& @. B" x! a# H8 uQuestion 68
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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?
, v! B+ W* F( b5 P       Short-term borrowings                    Advances to customers
5 r% V$ E/ \  ~# [  ]7 wA)    Stable or decreased risk of liquidity problems    Deteriorating liquidity position
B)   Increased risk of liquidity problems               Stable or improving liquidity position
C)   Increased risk of liquidity problems               Deteriorating liquidity position
3 S! Y8 k% @) F5 gD)   Stable or decreased risk of liquidity problems    Stable or improving liquidity position

* N1 O' l  j! y9 Q答案和详解：
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Question 69

* ?' o9 q6 T: l0 jAn analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:



0 k9 I3 O/ a" R' @/ j' tIn the base year, Spider’s current ratio was 1.5. Spider’s current ratio as of December 31, 20X7 is closest to:
' I2 y' j1 {! f( q' jA)    0.86.
B)   1.50.
3 F( m% l& C) U8 C" J, C6 S" U5 ~7 ?C)   1.29.
D)   1.16.
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答案和详解：
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( @% I3 E0 u" |' g" kQuestion 70
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0 O  H: L+ |' n) U, G( D/ c+ }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 $7,500 for each of the next 5 years.
Calculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.
: y+ j8 A7 a  D- y( n" |3 W$ rNPV        IRR         Accept/Reject
4 I" S* [* w# q6 x0 ~& |A)    $15,070     14%        Accept
B)   $15,070     14%        Reject
C)   $3,318     20%        Accept
. W) T' v, x3 N5 n7 C* zD)   $3,318     20%        Reject
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. k; k, d% G' Q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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