CFA考试二级模拟试题精选0401-57(附详解）
致辞范文1、The type of convergence described by O’Leary in Statement 1 is best described as:【单选题】
A.absolute convergence.
B.free trade.
正确答案:C
答案解析:C is correct. Conditional convergence means that convergence is conditional on the countries having the same savings rate, population growth rate, and production function. If the conditions hold, the neoclassical model implies convergence to the same level of per capita output as well as the same steady state growth rate.
2、Which of Wu’s three obrvations is least likely correct?【单选题】
A.Obrvation 3光明拳
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电脑出厂设置B.Obrvation 1
C.Obrvation 2网站数据分析
孝宗皇帝正确答案:A
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答案解析:A is correct. Obrvation 3 regarding consumption hedging is incorrect. Becau of the pro-cyclicality of economies and corporate profits, equities are not a good hedge against bad consumption outcomes, which is one of the reasons equity investors require a risk premium.
3、FITCO is considering the purcha of new equipment. The equipment costs $350,000, and an additional $110,000 is needed to install it. The equipment will be depreciated straight-line to zero over a five-year life. The equipment will generate additional annual revenues of $265,000, and it will have annual cash operating expens of $83,000. The equipment will be sold for $85,000 after five years. An inventory investment of $73,000 is required during the life of the investment. FITCO is in the 40 percent tax bracket and its cost of capital is 10 percent. What is the project NPV?【单选题】
A.$52,122.
B.$64,090.
香附的功效与作用C.$97,449.
正确答案:C
答案解析:C is correct.
4、In a recent prentation, Doug Pearce made two statements about dividends:【单选题】
A.No for both statements.
B.Yes for Statement 1 and no for Statement 2.
C.No for Statement 1 and yes for Statement 2.
