CFA一级权益真题解析
备考必备 | 2015-09-22
CFA一级权益1：Rachl Bilson opens a margin account with an initial deposit of $5,000. She then purchases 300 shares of a stock at $30 each on margin, and her account requires a maintenance margin of 35%. Ignoring commissions and interest, the price at which the investor will receive a margin call is closest to:
A. $23.08.
B. $23.81.
C. $20.51.
Solution: C
CFA一级权益2：A trader has purchased 500 shares of a firm on margin at a price of $50 per share. The shares pay no dividend. The leverage ratio is 2.9. Six months later, the trader sells these shares at $80 per share. Ignoring the interest paid on the borrowed amount and the transaction costs, what was the return to the trader during the six-month period?
A. 20 percent.
B. 33.33 percent.
C. 174 percent.
Solution: C
CFA一级权益3：The current price of a stock is $39 per share. You have $10,000 to invest. You borrow an additional $10,000 from your broker and invest $20,000 in the stock. If the maintenance margin is 35 percent, at what price will a margin call first occur?
A. $9.62.
B. $30.
C. $19.71.
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