题目内容

Several years ago, Simon Ma, CFA, founded an investment club with three friends. The investment clubs account grew rapidly to a substantial size, but the club has not actively traded the account for a

A. Yes,with respect to fiduciary duty.
B. Yes,with respect to selective disclosure.
C. Yes,with respect to conflicts of interest.

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Jordan Loney, CFA, issues a "sell" recommendation on Sullivan Company because she suspects accounting fraud. Loney writes, "Sullivan has an unstable and complex organizational structure

A. Opportunity.
B. Incentives and pressures.
C. Attitudes and rationalizations.

If a securities market is efficient, it is most likely that:

A. Security prices would react only to the “unexpected” elements of information.
B. Investors would prefer active investment strategies to passive investment strategies.
C. The time frame for price adjustment allows many traders to earn profits with little risk.

With respect to the four major measurement scales (ratio, ordinal, interval, and nominal) the scale that represents the weakest level of measurement is the:

A. Nominal scale
B. Ordinal scale
C. Interval scale

The crowding-out model suggests that the stimulus effect of increased government expenditures will be modified by changes in real interest rates and the flow of foreign financial capital, because real

A. Rise and inflows of financial capital from outside the country will increase.
B. Rise and inflows of financial capital from outside the country will decrease.
C. Fall and inflows of financial capital from outside the country will increase.

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