CFA Level 1 － 模考试题(1)(PM) Q66-70

catherine

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Question 66
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; I3 R) S% ]3 N# _6 pWhich 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.
2 E' D- H  ?- r& J! XB)   Interest expense.
C)   Income tax expense.
$ X- F7 w6 }$ o, Z  ?/ gD)   Financing expenses.
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' ]( E3 {. X; m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:
  a1 N6 m  l7 b6 _3 I& pTake-or-pay contract         Sale of receivables with recourse
A)    not affect the current ratio       decrease the total debt-to-equity ratio
6 C# I6 Z" c/ N- P+ N! L: gB)   decrease the current ratio       increase the total debt-to-equity ratio
$ @/ \2 c+ K1 PC)   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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Question 68

. X9 x5 \. _+ z- tThe 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
% _6 c7 p  n2 c* q5 G3 l& E5 f. D2 cA)    Stable or decreased risk of liquidity problems    Deteriorating liquidity position
0 _: y. e" A# W8 A0 \B)   Increased risk of liquidity problems               Stable or improving liquidity position
. C6 }0 a) J) e3 w1 Y, g6 YC)   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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, ~: l/ `, ~" _! e答案和详解：

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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:
! s& R$ N' w5 Q) bA)    0.86.
B)   1.50.
5 T. F* w( k9 T& s  @C)   1.29.
D)   1.16.
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3 l# c  w0 e* v" ZQuestion 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.
Calculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.
4 }5 \6 j% ?0 C. u5 y5 @' nNPV        IRR         Accept/Reject
3 Z) d. P0 [/ W; }) r- m# mA)    $15,070     14%        Accept
3 K8 q2 o) ~7 l2 b: s) DB)   $15,070     14%        Reject
C)   $3,318     20%        Accept
% q+ c6 B) e8 iD)   $3,318     20%        Reject
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catherine

换个方式发布哦~
, d( _, J! v& J6 p& M8 D4 A大家可以先做题目，然后再回复看答案哈~

Ean

THANKS!

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