CFA Level 1 －模考试题(3)（AM）－Q66-70

following, 考试题, style, class

Question 66

Which of the following effects is more likely to occur when using equity screens for high dividend paying stocks and low P/E stocks, respectively?

High dividends Low P/Es

A) Include too many financial services firms Include too many growth firms

B) Include too many financial services firms Exclude too many growth firms

C) Exclude too many financial services firms Exclude too many growth firms

D) Exclude too many financial services firms Include too many growth firms

Question 67

If market interest rates change, the change in market value of a U.S. firm's outstanding debt is reported in its financial statements:

A) in a footnote.

B) as an adjustment to income.

C) as an adjustment to retained earnings.

D) only if the debt is refinanced or exchanged.

Question 68

Which of the following lease provisions would least likely cause a lease to be classified as a capital lease? The:

A) collectibility of the lease payments by the lessor is unpredictable.

B) term of the lease is more than 75 percent of the estimated economic life of the leased property.

C) present value of the minimum lease payments equals or exceeds 90 percent of the fair value of the leased property.

D) lease contains a bargain purchase option.

Question 69

During a recent luncheon, Angus Rahamut and Dan Riding became engaged in a discussion of issues related to corporate governance. Neither of these individuals is an expert in the field of corporate governance and either of them may have made an inaccurate statement. Which of the following is most likely to be one of these inaccurate statement?

A) “Board members must have the experience and qualifications necessary for them to be able to make decisions independently from the firm’s management.”

B) “Corporate governance is the set of internal controls, processes, and procedures that direct the management of a firm.”

C) “In order to avoid conflicts of interest, board members should seek management approval prior to hiring external advisors.”

D) “To be independent, a board member must not have any material relationship with the firm’s executive management or their families.”

Question 70

Which of the following is the most restrictive measure of liquidity?

A) Quick ratio.

B) Current ratio.

C) Cash turnover.

D) Cash ratio.