Elbie Botha, CFA, an equity research analyst at an investment bank, disagrees with her research teams buy recommendation for a particular companys rights issue. She acknowledges the recommendation is
A. Leave her name on the report
B. Insist her name is removed from the report
C. Issue a new report based on her conclusions
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One reason why the duration of a portfolio of bonds does not properly reflect that portfolios yield curve risk is the duration measure:
Assumes all yields change by the same amount.
B. Assumes all the bonds have the same discount rate.
C. Ignores differences in coupon rates across the bonds.
Which of the following activities would an analyst least likely complete as part of the processing data phase of a financial analysis？
Analyzing the prospects of the industry
B. Preparing common-sized financial statement data
C. Making adjustments for different accounting policies
Dilshan Kumar, CFA, is a world-renowned mining analyst based in London. Recently, he received an invitation from Cerberus Mining, a London Stock Exchange listed company with headquarters in Johannesbu
A. Ground transportation to Krueger National Park
B. Economy class round trip ticket from London to Johannesburg
C. Flights on a private airplane to the remote mining sites in South Africa
The liquidity premium can be best described as compensation to investors for the:
A. Risk of loss relative to an investments fair value if the investment needs to be converted to cash quickly.
B. Increased sensitivity of the market value of debt to a change in market interest rates as maturity is extended.
C. Possibility that the borrower will fail to make a promised payment at the contracted time and in the contracted amount.
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