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1、2023年金融英语考试考前冲刺卷（9）本卷共分为2大题50小题，作答时间为180分钟，总分100分，60分及格。一、单项选择题（共43题，每题2分。每题的备选项中，只有一个最符合题意） 1.Compared with the net present value (NPV) method, the internal rate of return (IRR) method of evaluating investment projects:()A. is the preferred method for evaluating mutually exclusive projects.B. is no
2、t sensitive to the pattern or timing of the cash flows from the period.C. assumes that all cash flows from the project will be reinvested at the computed IRR.2.What is the effect on the accounting equation when a companys Board of Directors declares a cash dividend（）A. Assets decrease and owners&rsq
3、uo; equity decreases.B. Liabilities increase and owners’ equity decreases.C. There is no effect on the accounting equation until the dividend is paid.3.An analyst is evaluating the two bonds below:Compared with bond A, bond B most likely will have:()A. less interest rate risk and more reinvest
4、ment risk.B. less reinvestment risk and more interest rate risk.C. more interest rate risk and more reinvestment risk.4.An analyst is creating a new stock market index that is not affected by stock splits. The index the analyst is least likely to develop is:（）A. unweighted.B. price-weighted.C. value
5、-weighted.5.An analyst gathered the following information about two common stocks: variance of returns for the Company E=15.5 variance of returns for the Company F=22.3 covariance between returns of Company E and Company F = 8.65 The correlation coefficient between returns for the two common stocks
6、is closest to:（）A. 0.025.B. 0.388.C. 0.465.6.According to the Global Investment Performance Standards (GIPS), which of the following is not a part of the verification process（）A. Verification to be undertaken by the firm’s compliance department.B. To test whether firm has complied with all the
7、 composite construction requirements.C. To test whether the firm’s process and procedures are designed to calculate results in compliance with GIPS standards.7.For a firm in perfect competition, as output increases the marginal revenue will most likely:（）A. increase.B. decrease.C. remain const
8、ant.8.The best characterization of a firm that is operating on its long-run average cost curve is when it:()A. experiences constant returns to scale.B. produces a given output at the least possible cost.C. chooses a plant size that minimizes the average fixed cost.9.An investment strategy that seeks
9、 to grow portfolio value over time through capital gains and reinvestment of current income is most likely appropriate if the investment objective is:()A. total return.B. current income.C. capital appreciation.10.A reserve requirement of 20% implies a potential money deposit expansion multiplier of:
10、()A. 5.B. 8.C. 10.11.A CFA charterholder agreed in writing with his former employer not to solicit former clients for a period of one year after his termination. After he left his former employer, he consulted with a lawyer about whether the agreement was legally enforceable. The lawyer advised that
11、 it was doubtful that the agreement could be enforced, so the charterholder sent marketing brochures about his new firm to his former clients. According to the Standards of Practice Handbook, which of the following statements is most accurate with respect to the charterholders conduct（）A. The Standa
12、rds do not apply to the charterholder’s conduct.B. The Standards require the charterholder to comply with the agreement with his former employer.C. Because the charterholder relied upon the opinion of legal counsel, he did not violate the Standards.12.Which embedded option is most beneficial t
13、o a bond issuer（）A. A conversion option.B. A floor on a floating rate bond.C. An accelerated sinking fund provision.13.An analyst is evaluating various debt securities issued by a company. The type of security that is most likely to yield the lowest recovery in a bankruptcy is a:（）A. mortgage bond.B
14、. debenture bond.C. collateral trust bond.14.An investor goes long an FRA that expires in 30 days for which the underlying is 90-day LIBOR for a notional of $10 million. A dealer quotes this instrument at 4.5 percent. At expiration, 60-day LIBOR is 3.5 percent and 90-day LIBOR is 4 percent. The paym
15、ent made at expiration is closest to:()A. $12 376 from the investor to the dealer.B. $12 376 from the dealer to the investor.C. $16 570 from the investor to the dealer.15.A company using the LIFO inventory method reports a LIFO reserve at year-end of $85 000, which is $20 000 lower than the prior ye
16、ar. If the company had used FIFO instead of LIFO in that year, the companys financial statements would have reported:（）A. a lower cost of goods sold, but a higher inventory balance.B. a higher cost of goods sold, but a lower inventory balance.C. both a higher cost of goods sold and a higher inventory
