CFA: últimas respostas


Confira pela última vez as suas respostas às perguntas da semana passada! Esperemos que tenha gostado deste desafio! Em baixo apresentamos-lhe também os restantes desafios já publicados. 

1. Labor markets are best described as a type of:

A. capital market.

B. goods market.

C. factor market.




2.  The role of the International Organization of Securities Commissions (IOSCO) is best described as:

A. promoting cross- border cooperation and uniformity in securities regulation.

B. enforcing financial reporting requirements for entities participating in capital markets.

C. promoting the use of International Financial Reporting Standards and the convergence of national accounting standards.



3. A company has recently revalued one of its depreciable properties and estimates that its remaining useful life will be another 20 years. The applicable tax rate for all years is 30%, and the revaluation of the property is not recognized for tax purposes. Details related to this asset are provided in the following table:


The deferred tax liability related to this asset (in millions) as at the end of 2014 is closest to:

A. £960.

B. £690.

C. £1,650.


4. Other factors held constant, the reduction of a company’s average accounts payable because of suppliers offering less trade credit will most likely:Logo_CFAPortugal__4_

A. not affect the operating cycle.

B. reduce the operating cycle.

C. increase the operating cycle.


5. Unlike commercial industry classification systems, industry classification systems developed by governments most likely:

A. are updated more frequently.

B. are more transparent.

C. include private companies.


6. An investor is least likely exposed to reinvestment risk from owning a(n):

A. amortizing security.

B. zero- coupon bond.

C. callable bond.


7. The return measure that best allows one to compare asset returns earned over different length time periods is the:

A. holding period return.

B. annualized return.

C. net portfolio return.


8. The following information is available for a firm in a developing country:


The firm’s cost of equity using the CAPM approach is closest to:

A. 10.5%.

B. 12.5%.

C. 10.3%.


9. A portfolio of securities representing a given security market, market segment, or asset class is best described as a:

A. benchmark.

B. security market index.

C. total return index.


10. The Macaulay duration of a non- callable perpetual bond with a yield in perpetuity of 8% is closest to:

A. 7.4.

B. 8.0.

C. 13.5.


11. Which of the following statements is least accurate concerning differences in the pricing of forwards and futures?

A. Differences in the pattern of cash flows of forwards and futures can explain pricing differences.

B. Pricing differences can arise if futures prices and interest rates are uncorrelated.

C. Interest rate volatility can explain pricing diferences


12. A portfolio has the following returns:


The sample variance of the portfolio is closest to:

A. 0.23%.

B. 0.36%.

C. 0.28%.



Revisite as perguntas e respostas anteriores aqui: