单选题Tenence recently passed the CFA examination. When he seek for potential employers, he writes in the cover letter: I have passed all three levels of the CFA Program and may be eligible for the CFA charter after I get the required work experience. According to AIMR Standards of Professional Conduct, Terence（ ）

单选题Which of the following is NOT a risk factor for a country"s risk premium?

单选题A coupon bond pays annual interest, has a par value of $1000, matures in 4 years, has a annual coupon of $100, and a yield to maturity of 12 percent. The current yield on this bond is:

单选题All of the following are barriers to entry EXCEPT:

单选题For an asset-backed security (ABS), a special purpose vehicle: A. acts as an intermediary that purchases an asset from the company issuing an ABS and then resells it to obtain sufficient liquid funds to provide collateral for the ABS. B. takes title to at least some of the firm's fixed assets. C. is a legal entity responsible for separating assets used as collateral from those of the company seeking financing through an ABS.

单选题Johnson Corp. had the following financial results for the fiscal 2004 year:

单选题The lower bound on a European call price is the greater of zero and: A. the underlying price minus the exercise price. B. the present value of the exercise price minus the underlying price. C. the underlying price minus the present value of the exercise price.

单选题An analyst is considering a company that has had Net Income of $ 15000000 on sales of $ 500000000. The company also has a Total Asset Turnover rate of 1.50 and a Total Assets/Equity ratio of 2.0. The company has a target payout ratio of 40%, what is the expected long-term earnings growth rate for this company?

单选题An investor owns an annual-pay bond that matures in five years with a 5% COUpon rate and a $1000 face value. If the discount rate is 8%, the value of the bond is closest to: A. $878 B. $880 C. $1081

单选题A companys series B,8% preferred stock has the following features:
A par value of $50 and pays quarterly dividends

单选题The most commonly used tool of the Fed to control interest is:
A. the discount rate.
B. open market operations.
C. the bank reserve requirement.

单选题A fund manager Bathers the following data in order to assess a stocks potential for a possible addition to her portfolio:
Which of the following is the rnostappropriate decision for the fund manager?

单选题Which of the following characteristics about swaps is least
accurate? Swaps:
A. are custom instruments and involve counterparty risk.
B. are highly regulated.
C. have no active secondary market.

单选题Which of the following is a futures exchange member who can execute public orders?

单选题An analyst does research about confidence interval and gathers the following information about a stock return. The mean return of the stock is 11.5%. The standard deviation of returns of the stock is 1.8%. The lower endpoint of a confidence interval for the population mean with a reliability factor of 1.5 is closest to: A. 8.8% B. 9.7% C. 14.2%

单选题The infrequent trading of some assets that hedge funds invest in most likely results in hedge fund: A. risk being understated. B. returns being understated. C. correlations with other assets being overstated.

单选题Which of the following is least likely a reason for discounting the value of stock in a closely held company?

单选题If the volatility of interest rates increases, which of the following will experience the smallest price increase resulting from lower rates?

单选题Ron Dunder, CFA, is the CIO for Bling Trust (BT), an investment adviser

单选题Which of the following statements involving a plain vanilla interest rate swap is least accurate? In a plain interest rate swap, the: A. parties generally agree to swap the notional principal. B. parties involved in the swap agreement are called counterparties. C. counterparty that wants variable-rate interest agrees to pay fixed-rate interest and is called the pay-fixed side of the swap.