题目内容

In 2011, a software company recorded unearned revenue related to a software license that it will recognize as revenue during 2012. Ignoring income taxes, this recognition of the software revenue will

A. No effect
B. A decrease
C. An increase

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Which of the following is the most appropriate reason for using a free-cash-flow-to-equity (FCFE) model to value equity of a company?

A. FCFE is a measure of the firms dividend paying capacity.
B. FCFE models provide more accurate valuations than the dividend discount models.
C. A firms borrowing activities could influence dividend decisions but they would not impact FCFE.

Which of the following institutional investors are most likely to have a low tolerance for
investment risk and relatively high liquidity needs?Which of the following institutional investors are most likely to have a low tolerance for
investment risk and relatively high liquidity needs?

A. Insurance company
B. Charitable foundation
C. Defined benefit pension plan

Which of the following statements about balance sheets is most accurate? Under:

A. U.S. GAAP,intangibles must be valued at historical cost.
B. IFRS,a commercial real estate company should use a liquidity based presentation.
C. IFRS,a classified balance sheet must present current assets before non-current assets.

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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