CFA-Level-I試験無料問題集（2200題）「CFA Institute CFA Level I Chartered Financial Analyst 認定」

出題：1

Rachael Hirshliefer, CFA manages accounts of various clients from differing demographics and risk tolerances. Her firm purchases third party research and she follows up the recommendations with her own analysis. After she reaches a decision to buy or sell a particular asset, she does the same trades for all her clients. Has Hirshliefer likely violated the Standards?

A. Yes, Priority of Transactions.

B. Yes, Suitability.

C. No.

正解：B 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：2

Henry Clay is employed by a investment bank based in New York and is working in the country
Waselia. It is legal in Waselia for management and their friends to trade based on non-public material information. Clay is provided non-public material information verbally by insiders of a firm, and trades based on that information.

A. Clay's conduct violates CFA recommendations but not the Standards.

B. Clay is in violation of the Standards as he needs to follow the strictest of the New York laws, Waselia laws and the Standards.

C. Clay is not in violation of the Standards as insider trading is legal in Waselia.

正解：B 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：3

Which of the following statements is false?

A. The optimal capital structure is where a value-maximizing firm wants to be, a long run objective.

B. A value-maximizing firm will never have a capital structure different from the optimal capital structure.

C. The optimal capital structure is that mixed of debt and equity (common and preferred stock) that maximizes the firm value.

正解：B 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：4

Which of the following correctly defines the operating cycle?
I). Cash conversion cycle - Accounts payable period.
II). Inventory period + Accounts receivable period.
III). Cash conversion cycle + Accounts payable period.
IV). Inventory period - Accounts receivable period - Accounts payable period.

A. I and II.

B. II, III, and IV.

C. II and III.

正解：C 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：5

An increase in price, all other things unchanged, leads to:

A. Shift demand inwards.

B. Shift demand outwards.

C. A contraction of demand.

正解：C 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：6

Lee sold its headquarters building at a gain, and simultaneously leased back the building. The lease was reported as a finance lease. According to IFRS, at the time of the sale, the gain should be reported as:

A. an extraordinary item, net of income tax.

B. a deferred gain.

C. operating income.

正解：C 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：7

Cost Date Quantity Per Unit Total Cost Jan 1, Beginning Inventory 100 $18.00 $ 1,800.00 Mar 4,
Purchase 400 19.00 7,600.00 Apr 1, SOLD 50 UNITS May 2, Purchase 100 20.00 2,000.00
In a perpetual system, what is the average cost per unit after the May 2 purchase?

A. $18.80

B. $19.02

C. $18.20

正解：B 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：8

The purchase of treasury stock

A. increases total stockholders' equity and increases the number of outstanding shares.

B. None of these.

C. affects a company's legal capital.

正解：B 解答を投票する

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出題：9

Which of the following pooled investments is most likely to make a few large investments?

A. Buyout funds.

B. Hedge funds.

C. Exchange traded funds.

正解：A 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：10

Which one of the following statements regarding the effect of leases on financial ratios (in early years) is CORRECT?

A. Under an operating lease, leverage ratios are higher.

B. Under a capital lease, ROE is generally higher.

C. Under an operating lease, interest coverage ratios are generally higher.

正解：C 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：11

The focus of companies during the shakeout stage should be:

A. build scale.

B. re-invest their cash flows in new products.

C. reduce cost structure and build brand loyalty.

正解：C 解答を投票する

出題：12

Which technical indictor brings together momentum and trend?

A. MACD

B. Relative strength index.

C. Stochastic oscillator.

正解：A 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

出題：13

At the beginning of this year Aramed had 400,000 shares of common stock outstanding. Aramed paid a 10 percent stock dividend on March 31 of this year. Aramed issued 90,000 new common shares on
June 30 of this year and repurchased 12,000 shares on December 1. The number of shares Aramed should use in computing earnings per share at the end of the year is:

A. 476,000.

B. 475,000.

C. 484,000.

正解：C 解答を投票する

解説: (GoShiken メンバーにのみ表示されます)

CFA-Level-I試験無料問題集「CFA Institute CFA Level I Chartered Financial Analyst 認定」