CFA-Level-I 試験問題を無料オンラインアクセス

Firms in an oligopoly are less likely to collude when:

• A.market demand is relatively stable.
• B.detection of cheaters is easy.
• C.there are more firms in the industry.

The goal of an investor following a risk management strategy is to:

• A.control or reduce risk even though doing so will increase expected return
• B.increase risk because doing so will increase expected return
• C.control or reduce risk even though doing so will decrease expected return

A firm might wish to use a capital lease under which of the following conditions?

• A.The firm has debt covenants that restrict the amount of debt
• B.Lease terms that are equal to the life of the asset
• C.High effective tax rates

Sally Duvall is estimating the mean of a population with a sample of 35 observations. The variance is unknown. Which of the following statements is FALSE?

• A.Using the t-test is a more conservative approach.
• B.If the underlying distribution is unknown, large samples can be tested with the help of the z-test due to the central limit theorem.
• C.Using the z-test is a better approach for samples greater than 30.

A stock is not expected to pay dividends until three years from now. The dividend is then expected to be $2.00 per share, the dividend payout ratio is expected to be 40%, and the return on equity is expected to be 15%. If the required rate of return is 12%, the value of the stock today is closest to:

• A.$67
• B.$53
• C.$27