CFA考试《CFA一级》历年真题精选17（附详解）
1、Which of the following is least likely to be a valid function/characteristic of money? Money:【单选题】
A.acts as a unit of account.
B.provides a means of payment.
C.requires a double coincidence of wants.
正确答案:C
少年先锋队手抄报>沙雕故事答案解析:“Money, the Price Level, and Inflation,” Michael ParkinThe functions of money include being a means of payment, acting as a medium of exchange, acting as a unit of account, and acting as a store of value. It does not require a double coincidence of wants, as barter does.
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2、A retailer provides credit cards only to its most valued customers who pass a rigorous credit check. A credit card customer ordered an item from the retailer in May. The item was shipped and delivered in July. The item appeared on the customer’s July credit card statement and was paid in full by the due date in August. The most appropriate month in which the retailer should recognize the revenue is:【单选题】
A.May.
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B.July.
C.August.
正确答案:B
答案解析:“Understanding Income Statements,” Elaine Henry and Thomas R. RobinsonB is correct. The appropriate time to recognize revenue would be in the month of July; the risks and rewards have been transferred to the buyer (shipped a
nd delivered), the revenue can be reliably measured, and it is probable that the economic benefits will flow to the ller (the rigorous credit check was completed). Neither the actual payment date nor the credit card statement date is relevant here.
3、Dividends received are most likely classified as which type of cash flow under both IFRS and U.S.GAAP?【单选题】
A.Investing
B.Financing
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C.Operating
正确答案:C
答案解析:“Understanding Cash Flow Statements,” Elaine Henry, CFA, Thomas R. Robinson, CFA, Jan Hendrik van Greuning, CFA, and Michael A Broihahn, CFAC is correct. Dividends received can be classified as either an operating or investing ac
海报怎么做tivity under IFRS, but can only be classified as an operating activity under U.S. GAAP.
4、Which of the following methods would be least likely to improve the cash collections of a retail organization?【单选题】
鲁滨逊漂流记摘抄A.Lockbox
B.Debit cards
C.Electronic checks
光明与希望正确答案:A
答案解析:“Working Capital Management,” Edgar A. Norton, Jr., CFA, Kenneth L. Parkinson, andA lockbox is a deposit system coordinated with a bank and is uful when the customer is not paying at the time of sale. In retail organizations, the customer normally pays at the time of sale and the best ways to improve cash coll
ections are to ensure the payments made at that time have no credit risk for the ller. Debit cards, credit cards and electronic checks eliminate the credit risk for the ller.
5、A firm’s estimated costs of debt, preferred stock, and common stock are 12%, 17%, and 20%, respectively. Assuming equal funding from each source and a 40% tax rate, the weighted average cost of capital is clost to:【单选题】
