Should a company accept a project that has an IRR of 14% and an NPV of $2.8 million if the cost of capital is 12%？
A. Yes,based only on the NPV.
B. Yes,based on the NPV and the IRR.
C. No,based on both the NPV and IRR.
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Which of the following is most accurate regarding a distribution of returns that has a mean greater than its median？
A. It is positively skewed.
B. It is a symmetric distribution.
C. It has positive excess kurtosis.
Which of the following statements least likelyrepresents a characteristic of the time-weighted rate of return？ It is:
A. Not affected by the timing of cash flows.
B. Used to measure the compound rate of growth of $1 over a stated measurement period.
C. Defined as the internal rate of return on an investment portfolio,taking into account all inflows and outflows.
Which of the following is most likely a recommended procedure for complying with the Standard on performance presentation？
A. Exclude terminated accounts from past performance history.
B. Present the performance of a representative account to show how a composite has performed.
Consider the level of financial knowledge of the audience to whom the performance is presented.
Which of the following actions is a required, rather than recommended, action under the Standard regarding diligence and a reasonable basis for a firms research recommendations？
A. Compensate analysts based on a measure of the quality of their research.
B. Review the assumptions used and evaluate the objectivity of third-party research reports.
C. Have a policy requiring that research reports and recommendations have a basis that can be substantiated as reasonable and adequate.
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