CFA Level 1 － 模考试题(1)(PM) Q66-70

catherine

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9 c( H+ a+ D( {( p- PQuestion 66
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+ p% i7 F" _9 e2 cWhich of the following items for a mutual funds company is least likely to be considered an operating item on the income statement?
9 m+ O- A( V. ^. eA)    Interest income.
B)   Interest expense.
C)   Income tax expense.
) ]% V, l8 `! V( kD)   Financing expenses.
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Question 67

. F3 g% }$ x6 ~4 z& ^+ E: DThe 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:
6 p5 i  h2 C/ w8 {' pTake-or-pay contract         Sale of receivables with recourse
A)    not affect the current ratio       decrease the total debt-to-equity ratio
6 d1 g+ k8 _1 X8 u/ E9 M3 P* AB)   decrease the current ratio       increase the total debt-to-equity ratio
C)   decrease the current ratio       decrease the total debt-to-equity ratio
2 E3 Q# A5 b; {# A" O( FD)   not affect the current ratio       increase the total debt-to-equity ratio

答案和详解：
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" @$ r- t+ F3 M8 FQuestion 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?
3 [7 A/ z9 A. ]# I. y5 R) `( i5 b       Short-term borrowings                    Advances to customers
: X( H# p, A# o: X7 x/ v0 ~, _A)    Stable or decreased risk of liquidity problems    Deteriorating liquidity position
B)   Increased risk of liquidity problems               Stable or improving liquidity position
  X7 X' x: q$ u# O! v: S8 g. uC)   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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Question 69
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0 t& ?: m* |6 G8 OAn analyst prepared the following selected horizontal common-size balance sheet data for Spider Corporation:
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/ p0 Y! ?2 U" J) _! G- U( rIn the base year, Spider’s current ratio was 1.5. Spider’s current ratio as of December 31, 20X7 is closest to:
: w: Q! z- }& oA)    0.86.
B)   1.50.
C)   1.29.
+ K& O1 l, [% _1 |D)   1.16.

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Question 70

/ H& f; }% z* t$ {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.
3 O+ U4 e+ j* i, ~4 S! @7 G: sCalculate the internal rate of return (IRR) and the net present value (NPV) for the project, and indicate the correct accept/reject decision.
5 I( [! E3 y5 L) |: x8 ]NPV        IRR         Accept/Reject
9 n4 o" v) P5 {3 Z7 |A)    $15,070     14%        Accept
B)   $15,070     14%        Reject
1 [8 [8 ]- q) ~/ |. U3 G* KC)   $3,318     20%        Accept
D)   $3,318     20%        Reject

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catherine

换个方式发布哦~
! h( n6 Q- @4 b+ r% f7 ~3 T大家可以先做题目，然后再回复看答案哈~

Ean

THANKS!

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