CFA考试《CFA一级》历年真题精选及答案1122-33
1、An analyst does rearch about the reported revenue of a company and gathers thefollowing information about a product:
Assume that the company bears no inventory risk for the product and us net reportingof revenue, reported revenue of the product is clost to:【单选题】
A.$50
B.$90
C.$100
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正确答案:C
答案解析:net reported revenue = revenue - cost of goods sold = $140 - $40 = $100。
2、The following annual financial data are available for a company:
Interest expen for the year is clost to:【单选题】
A.71.6.
番茄牛肉汤B.97.4.
C.109.2.
正确答案:B
答案解析:“Understanding Cash Flow Statements,” Elaine Henry, CFA, Thomas R. Robinson, CFA, Jan Hendrik van Greuning, CFA, and Michael A Broihahn, CFA
2013 Modular Level I, Vol. 3, Section 3.2.1.5
Study Session: 8-27-f
Describe the steps in the preparation of direct and indirect cash flow statements, including how cash flows can be computed using the income statement and balance sheet data.
B is correct. Interest expen is equal to ending interest payable plus cash paid for interest less beginning interest payable. The calculation is as follows:
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3、A review of a company’s inventory records for the year indicates that the following costs were incurred:
Fixed production overhead: $500,000
Direct material and direct labor: 300,000
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Storage costs incurred during production: 25,000
Abnormal waste costs: 30,000
If the company operated at full capacity during the year, the total capitalized inventory cost is clost to:【单选题】
A.$800,000.
B.$825,000.
C.$855,000.
正确答案:B
答案解析:“Inventories,” Michael A. Broihahn, CFA
2011 Modular Level I, Vol. 3, pp. 379-380
Study Session 9-36-a
Distinguish between costs included in inventories and costs recognized as expens in the period in which they are incurred.
The total capitalized costs include fixed production costs, the direct conversion costs of material and labor, storage costs required as part of production but not abnormal waste costs. $500,000 + 300,000 + 25,000 = $825,000
4、The following table shows the volatility of a ries of funds that belong to the same peer group, ranked in ascending order:
The value of the first quintile is clost to:【单选题】
班主任工作计划表A.10.70%.
B.10.84%.
C.11.09%
正确答案:A
欲望母爱答案解析:“Statistical Concepts and Market Returns,” Richard A. DeFusco, CFA, Dennis W. McLeavey, CFA, Jerald E. Pinto, CFA, and David E. Runkle, CFA
2013 Modular Level I, Vol. 1, Reading 7, Section 6.1
Study Session 2–7–f
Calculate and interpret quartiles, quintiles, deciles, and percentiles.
A is correct. First, find the position of the first quintile with the following formula:
where
y is the percentage point at which we are dividing the distribution. In our ca we have y = 20, which corresponds to the
percentile (first quintile);
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n is the number of obrvations (funds) in the peer group. In our ca we have n = 13;
