CFA Level 1 － 模考试题(1)(PM) Q66-70

catherine

: ~6 f0 @. V. p1 j$ r5 U) ~1 C4 ]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?
A)    Interest income.
B)   Interest expense.
C)   Income tax expense.
D)   Financing expenses.

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3 R& x* N4 W2 }' tQuestion 67

% @/ L9 m# t+ x4 w% E9 Q, uThe 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
A)    not affect the current ratio       decrease the total debt-to-equity ratio
$ J3 H5 s2 E" IB)   decrease the current ratio       increase the total debt-to-equity ratio
; u& q/ x+ F- l- y5 BC)   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

5 V5 q$ I0 Z4 v9 a3 x3 ?+ @3 cThe 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
A)    Stable or decreased risk of liquidity problems    Deteriorating liquidity position
2 F( C  L- T/ F3 r4 m, r, yB)   Increased risk of liquidity problems               Stable or improving liquidity position
C)   Increased risk of liquidity problems               Deteriorating liquidity position
; p  i0 p7 }1 A* Q* ]D)   Stable or decreased risk of liquidity problems    Stable or improving liquidity position
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Question 69

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:
A)    0.86.
B)   1.50.
C)   1.29.
" g% f+ u8 T2 e2 F4 nD)   1.16.
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" A* t; C& F/ v  N* t, a. h/ R0 n+ QQuestion 70

2 z) D/ t" {3 A9 Y; W. S+ XEdelman 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.
. s7 }* w( t' _" @0 l/ ?. i- W7 J/ |  ~NPV        IRR         Accept/Reject
A)    $15,070     14%        Accept
B)   $15,070     14%        Reject
C)   $3,318     20%        Accept
D)   $3,318     20%        Reject

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catherine

换个方式发布哦~
0 I0 i& f) U# M" D8 b大家可以先做题目，然后再回复看答案哈~

Ean

THANKS!

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