题目内容

If an investor uses derivatives to make a long investment in commodities, the return earned on margin is best described as:

A. Price return.
B. Collateral yield.
Convenience yield.

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High-water marks are typically used when calculating the incentive fee on hedge funds. They are most likely used by clients to:

Avoid prime brokerage fees.
B. Claw back the management fees.
C. Prevent paying twice for the same performance.

Christina Ng, a Level I CFA candidate, defaulted on a bank loan she obtained to pay for her Masters degree tuition when her wedding cost more than expected. A micro finance loan company lent her money

A. No
B. Yes,with regard to the first loan default
C. Yes,with regard to the second loan default

A return-generating model that provides an estimate of the expected return of a security based on factors such as earnings growth and cash flow generation is best described as a:

A. Market factor model.
B. Fundamental factor model.
C. Macroeconomic factor model.

An accounting document that records transactions in the order in which they occur is best described as a:

A. Trial balance.
B. General ledger.
C. General journal.

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