CFA一級考試歷年真題精選及答案0519-5

1、WhichofthefollowingCFA一級考試歷年真題精選及答案0519-5statementisleastlikelytobecorrect:A.financialratioscandeterminecompany'pastperformance.B.financialratioscannotdeterminecompanycurrentfinancialcondition.C.financialratioscannotdeterminecompanycreditworthiness.Solution:CCFA一級財務(wù)2:Ifignoringtaxes,acompanychoo

2、sestocapitalizeanexpenditurerelatedtocapitalassetsinsteadofexpensingit,thecompanywillmostlikelyreport:A. aloweroperatingcashflowinthatperiod.B. alowerinvestingcashflowinfutureperiods.C. Freecashflowtothefirmwillstayforthesameinthatperiod.Solution:CCFA一級財務(wù)3:IFIFRSapplies,whichoneiscorrectabouttheclas

3、sificationofcashflow?A. CFOCFA.B. CFOCFO.C. CFICFF.Solution:ACFA一級財務(wù)4:TheCFOofazero-couponbondismostlikely:A. Overstated.B. Understated.C. Nochange.Solution:ACFA一級財務(wù)5:ComparedwithIFRS,thosepreparedunderU.S.GAAPgenerallyacceptedaccountingprinciples,analystsmayneedtomakeadjustmentsrelatedto:A. realize

4、dlosses.B. unrealizedgainsandlossesfortradingsecurities.C. unrealizedgainsandlossesforavailable-for-salesecurities.Solution:CCFA一級財務(wù)6:Whichofthefollowingstatementsaboutbalancesheetsismostaccurate?A. UnderIFRS,aclassifiedbalancesheetmustpresentcurrentassetsbeforenon-currentassets.B. UnderIFRS,intangi

5、blescanbevaluedatcostorrevaluation.C. UnderIFRS,acommercialrealestatecompanyshouldusealiquiditybasedpresentation.Solution:B、CFA考試試題精選_固定收益試題CFA一級固定收益1:Whichofthefollowingcontentisinaffirmativecovenant?A. Thecompanycan'tseiassetsthathavebeenpledgedascollateral.B. Toinsureandperformperiodicmainten

6、anceonfinancedassets.C. Thecompanycan'tborrowadditionalmoneyunlesscertainfinancialconditionsaremet.Solution:BCFA一級固定收益2:Whichofthefollowingstatementabouttheshortpositioninadeliverableforwardcontractismostlikelyaccurate?A. Ithasnodefaultrisk.B. Itisobligatedtodeliverthespecifiedasset.C. Itmakesac

7、ashpaymenttothelongatsettlement.Solution:BCFA一級固定收益3:Arbitrageopportunitieswillexistinwhichofthefollowingcondition?A. Twoidenticalassetsorderivativessellfordifferentprices.B. Combinationsoftheunderlyingassetandaderivativeearntherisk-freerate.C. Arbitrageurssimultaneouslybuytakeovertargetsandselltake

8、overacquirers.Solution:ACFA一級固定收益4:Basedontheaffirmativecovenant,whichofthefollowingismostlikelytoberequired:A. Issuer'sleverageratioconstrains.B. howtheproceedsofthebondissuewillbeused.C. Theupperboundaryofissuergressassetsthatcouldbesoldout.Solution:BCFA一級固定收益5:Whichofthefollowingexternalcredi

9、tenhancementhastheleastamountofthird-partyrisk?A. letterofcredit.B. suretybond.C. cashcollateralaccount.Solution:C三、CFA考試試題精選_衍生品試題CFA一級衍生品1:Whichofthefollowingcontentisinaffirmativecovenant?A. Thecompanycan'tselassetsthathavebeenpledgedascollateral.B. Toinsureandperformperiodicmaintenanceonfina

10、ncedassets.C. Thecompanycan'tborrowadditionalmoneyunlesscertainfinancialconditionsaremet.Solution:BCFA一級衍生品2:Whichofthefollowingstatementabouttheshortpositioninadeliverableforwardcontractismostlikelyaccurate?A. Ithasnodefaultrisk.B. Itisobligatedtodeliverthespecifiedasset.C. Itmakesacashpaymenttothelongatsettlement.Solution:BCFA一級衍生品3:Arbitrageopportunitieswillexistinwhichofthefollowingcondition?A. Twoidenticalassetsorderivativessellfordif