Millicent Plain has just finished taking Level II of the CFA examination. Upon leaving the examination site, she meets with four Level III candidates who also just sat for their exams. Curious about t
A. Specific formulas
Broad topic areas.
C. The examination essays.
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Colleen ONeil, CFA, manages a private investment fund with a balanced global investment mandate. Her clients insist that her personal investment portfolio replicate the investments within their portfo
A. Sale of a listed U.S. blue chip value stock
B. Participation in a popular frontier market IPO
C. Purchase of a UK government bond in the primary market
Based on best practices in corporate governance procedures, independent board members most likely:
A. Meet only in the presence of management.
B. Have a “lead” director when the board chair is not independent.
C. Hire independent consultants who are pre-approved by management.
Which is most likely considered a “pull” on liquidity?
A. Obsolete inventory
B. Reduction in a line of credit
C. Increased difficulty in collecting receivables
A portfolio manager is required to sell 31,250 shares of XYZ Inc. in two months. She is concerned the price of XYZ shares will decline during the 2-month period, so she enters into a deliverable equit
A. Pay EUR 687,500 to the dealer.
B. Receive EUR 4,312,500 from the dealer.
C. Receive EUR 5,000,000 from the dealer.