CFA-Level-I 試験問題を無料オンラインアクセス

Which of the following should be classified as financing cash flow?
I). interest paid on borrowed funds.
II). dividends paid to stockholders.
III). interest income.
IV). dividend income.

• A.II only.
• B.II and IV.
• C.I and III.

A venture capital project has the following estimated probabilities of failure over the next five years.
Year 1 2 3 4 5 Prob 10% 25% 30% 10% 10%
If it "survives", the payoff is expected to be $80 million. The initial investment required is $20 million. If the risk-adjusted discount rate is 20%, what is the project's expected NPV? (Round to the nearest $100,000)

• A.-$8.5 million
• B.-$7.7 million
• C.-$7.1 million

The following table gives the stock price, dividend, and percentage return for 10 months.

If one were to construct a frequency histogram for the stock prices using 3 classes, what percentage of stocks fall in the second stock price interval?

• A.30%
• B.40%
• C.20%

Assume Google has a short interest of 75 million shares, while the average daily volume of shares traded is 70 million. Its current price is $450 and its average price over the last 30 days is $400. Google's short interest ratio is:

• A.1.52 days.
• B.1.125 days.
• C.1.07 days.

Which of the following transactions results in a difference between accrual-based net income and net cash flows?
I). A firm sells inventory and receives cash for it in the same accounting period.
II). A firm writes off a plant location as worthless.
III). A firm pays employees on the last day of each month for the work done during the month just ended.
IV). A firm receives cash right upon completion of services performed for clients.

• A.II only.
• B.II and IV.
• C.I and III.