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CFA考试一级章节练习题精选0331-44附详解）
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1、Jack George, CFA, does rearch about financial leverage and gathers the followinginformation about a company (in millions):
If return on equity decread over the same time period, the company's financialleverage most likely:【单选题】
嗟来之食翻译A.decread.
普通话等级分数C.incread.
正确答案:A
答案解析:ROE = ROA × financial leverage。
2011：ROA = Net profit margin × Total ast turnover = 12.0% ×2 = 24.0%
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2010：ROA = Net profit margin × Total ast turnover = 9.0% ×2.2 = 19.8%女王头
从2010年到2011年，ROA在上升，而已知ROE在下降，因此财务杠杆（financial leverage）一定在下降。
1、The table below contains lected data from the common-size balance sheets for three different industries: utilities, financials and consumer discretionary products.
Which of the following statements is most accurate?【单选题】
A.Industry 1 is the utility industry and Industry 2 is the financial industry.
B.Industry 2 is the utility industry and Industry 3 is the consumer discretionary products industry.
C.Industry 1 is the consumer discretionary products industry and Industry 3 is the financial industry.
正确答案:B
答案解析:“Financial Analysis Techniques,” Thomas R. Robinson, CFA, Jan Hendrik van Greuning, CFA, R. Elaine Henry, CFA, and Michael A. Broihahn, CFA 2010 Modular Level 1, Vol.3, pp.308-316
“Understanding the Balance Sheet,” Thomas R. Robinson, CFA, Jan Hendrik van Greuning, CFA, R. Elaine Henry, CFA, and Michael A. Broihahn, CFA
2010 Modular Level 1, Vol.3, pp.234-237
Study Session: 8-33-h, 8-35-a
Interpret balance sheets and statements of changes in equity.
Evaluate and compare companies using ratio analysis, common-size financial statements, and chart
s in financial analysis.
忐忑交警The utility industry [2] has a large percentage of PPE and long term debt and low inventories; the consumer discretionary products industry [3] would have high inventories.
1、The following information is available on a company for the current year.
The company’s diluted EPS is clost to:【单选题】
微波炉米饭A.$7.57.
B.$7.69.
C.$7.72.
正确答案:C
答案解析:"Understanding The Income Statement,” Thomas R. Robinson, CFA, Jan Hend rik van Greuning, CFA, Elaine Henry, CFA, and Michael A. Broihahn, CFA 2011 Modular Level I, Vol.3, pp.170-178
Study Session: 8-32-g, h
Describe the components of earnings per share and calculate a company’s earnings per share (both basic and diluted earni ngs per share) for both a simple and complex capital structure.
Differentiate between dilutive and antidilutive curities, and discuss the implications of each for the earnings per share calculation.
Since both the preferred shares and bonds are dilutive, they should both be converted to calculate the diluted EPS. Diluted EPS is the lowest value. $7.72 has calculated in the following table.
1、An analyst does rearch about the reported revenue of a company and gathers thefollowing information about a product:
