1、An investor has a portfolio with 10 percent cash, 30 percent bonds, and 60 percent stock. If last year’s return on cash was 2.0 percent, the return on bonds was 9.5 percent, and the return on stock was 25 percent, what was the return on the investor’s portfolio?

A)   22.30%.

B)   36.50%.

C)   15.00%.

D)   18.05%.

2、An investor has a $15,000 portfolio consisting of $10,000 in stock A with an expected return of 20 percent and $5,000 in stock B with an expected return of 10 percent. What is the investor’s expected return on the portfolio?

A)   7.9%.

B)   12.2%.

C)   16.7%.

D)   15.8%.

3、Find the mean, median, and mode, respectively, of the following data:

3, 3, 5, 8, 9, 13, 17

A)                                         8                                      8.28 3

B)                                         3                                      8.28 8

C)                                         8                                      3     8.28

D)                                         8.28                                  8     3

4、For the last four years, the returns for XYZ Corporation’s stock have been 10.4%, 8.1%, 3.2%, and 15.0%. The equivalent compound annual rate is:

A)   9.1%.

B)   8.9%.

C)   9.2%.

D)   10.4%.

5、Which measure of central tendency can be used for both numerical and categorical variables?

A)   Mean.

B)   Median.

C)   Variance.

D)   Mode.

答案和详解如下：

1、An investor has a portfolio with 10 percent cash, 30 percent bonds, and 60 percent stock. If last year’s return on cash was 2.0 percent, the return on bonds was 9.5 percent, and the return on stock was 25 percent, what was the return on the investor’s portfolio?

A)   22.30%.

B)   36.50%.

C)   15.00%.

D)   18.05%.

The correct answer was D)    

Find the weighted mean of the returns. (0.10 × 0.02) + (0.30 × 0.095) + (0.60 × 0.25) = 18.05%

2、An investor has a $15,000 portfolio consisting of $10,000 in stock A with an expected return of 20 percent and $5,000 in stock B with an expected return of 10 percent. What is the investor’s expected return on the portfolio?

A)   7.9%.

B)   12.2%.

C)   16.7%.

D)   15.8%.

The correct answer was C)

Find the weighted mean where the weights equal the proportion of $15,000. [(10,000/15,000) *0.20] + [(5,000/15,000 * 0.10] = 16.7%.

3、Find the mean, median, and mode, respectively, of the following data:

3, 3, 5, 8, 9, 13, 17

Mean

Median

Mode

A)                                         8                                      8.28 3

B)                                         3                                      8.28 8

C)                                         8                                      3     8.28

D)                                         8.28                                  8     3

The correct answer was D)

mean = (3 + 3 + 5 + 8 + 9 + 13 + 17) / 7 = 8.28, median = middle of distribution = 8 (middle number), mode = most frequent = 3.

4、For the last four years, the returns for XYZ Corporation’s stock have been 10.4%, 8.1%, 3.2%, and 15.0%. The equivalent compound annual rate is:

A)   9.1%.

B)   8.9%.

C)   9.2%.

D)   10.4%.

The correct answer was A)    

(1.104 × 1.081 × 1.032 × 1.15)^0.25 − 1 = 9.1%

5、Which measure of central tendency can be used for both numerical and categorical variables?

A)   Mean.

B)   Median.

C)   Variance.

D)   Mode.

The correct answer was D)

The mode is the only choice that makes sense since you cannot take an average or median of categorical data such as bond ratings (AAA, AA, A, etc.) but the mode is simply the most frequently occurring number or category.