CFA Level 1 － 模考试题(1)(PM) Q66-70

catherine

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Question 66

Which of the following items for a mutual funds company is least likely to be considered an operating item on the income statement?
6 {3 d% F3 J6 q# |9 q+ E. N' z0 pA)    Interest income.
B)   Interest expense.
" k3 _- {' m: E: Y2 y6 Y5 y6 ~5 @. RC)   Income tax expense.
& N& C3 S1 i" J4 n6 {D)   Financing expenses.
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Question 67

+ P6 u. g& y9 `* o" W: AThe 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:
& L6 n6 k' K' {: S& L- I# ITake-or-pay contract         Sale of receivables with recourse
0 Y' B9 Q1 e* ^1 `2 HA)    not affect the current ratio       decrease the total debt-to-equity ratio
7 m; i% l* K8 c' b2 m- I2 @1 d3 ZB)   decrease the current ratio       increase the total debt-to-equity ratio
+ U5 ~5 {& t5 j; J% p! M6 N3 {C)   decrease the current ratio       decrease the total debt-to-equity ratio
1 K1 G; A3 @7 V. Z  `9 \D)   not affect the current ratio       increase the total debt-to-equity ratio
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/ K8 D# L, X( V- ~7 }答案和详解：
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Question 68
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3 B" B3 ~' j( x" A5 }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?
6 @/ @: _) |0 f: q  p7 F4 g; P+ n) t       Short-term borrowings                    Advances to customers
A)    Stable or decreased risk of liquidity problems    Deteriorating liquidity position
B)   Increased risk of liquidity problems               Stable or improving liquidity position
+ ]6 R/ m) @' TC)   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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答案和详解：

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- D: t4 @5 J  }, J( ?" u' n7 I, [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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' J" b) `7 a( x8 S" C3 j" ^In 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.
1 q% D# W; p: L' f" q" LD)   1.16.

答案和详解：
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Question 70

2 S- O, }" Y8 UEdelman 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.
NPV        IRR         Accept/Reject
7 V. x7 J2 U/ R9 ?A)    $15,070     14%        Accept
- W! S; z0 n* g( I. QB)   $15,070     14%        Reject
C)   $3,318     20%        Accept
0 r9 ^8 [) l2 L  y% d6 KD)   $3,318     20%        Reject
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* D8 r( P+ Q2 s7 \; N0 v1 l答案和详解：

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catherine

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换个方式发布哦~
& U3 ?# U. E/ [/ s$ ]3 r大家可以先做题目，然后再回复看答案哈~

Ean

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THANKS!

fanfan

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lxyz061524

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。。。。。

hlbt930

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