题目内容

An analyst has made three observations in his worksheets about a company that he is reviewing. Which of the observations most likely reduces the quality of earnings of the company? The company:

A. Reported for the first time an asset titled "Deferred customer acquisition costs."
B. has reduced its estimate of the expected useful life of computer equipment from 8 years to 5 years.
C. Entered into long-term leases for its manufacturing equipment instead of purchasing it and recorded the leases as capital leases.

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Which of the following capital budgeting techniques is most directly related to stock price?

A. Net present value
B. Profitability index
C. Discounted payback period

Belen Zapata, CFA, is the owner of Kawah Investments. Kawah promises investors returns of up to 12% per year and claims to achieve this by investing in non-investment-grade bonds and other fixed incom

A. Return of capital.
B. Promised returns.
C. Investment mandate.

When purchasing a futures contract, the initial margin requirement refers to the:

A. Minimum account balance required as prices change.
B. Performance bond ensuring fulfillment of the obligation.
C. Amount needed to finance the purchase of the underlying asset.

Chan Liu, CFA, is the new research manager at the Pacific MicroCap Fund. Liu observed the following activities after she published a research report on a thinly traded microcap stock that included a &

A. Report the observed activities to her employer.
B. Remove her name from the microcap stock research report.
C. Publicly refute the false information posted on Internet forums.

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