题目内容

A commodity market is in contango when futures prices are:

A. Lower than the spot price
B. Higher than the spot price.
C. The same as the spot price

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A fund manager is compensated with a base management fee plus an incentive fee proportional to the funds return above a benchmark. This best describes the fee structure of:

A hedge fund.
B. A mutual fund.
C. An exchange traded fund

A financial analyst utilizing his analytical expertise and up-to-date information buys a companys stock. His close friends, who lack information or expertise, imitate the financial analysts action and

A. It improves market efficiency.
B. It is identical to representativeness.
C. It is inconsistent with rational behavior.

An inventory system that reduces average inventory without affecting sales will most likely reduce the:

A. Quick ratio
B. Inventory turnover
Cash conversion cycle.

Teresa Avila, CFA is a micro cap investment analyst at a hedge fund. The fund requires Avila to hold any securities she recommends for the fund in her own account as well. Because Avila has such a sma

A. No.
B. Yes,related to Misconduct.
C. Yes,related to Priority of Transactions.

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