CFA备考|CFA考试试题精选_权益试题
备考必备 | 2015-12-01
【每日一题】CFA一级权益1：
Rachl Bilson opens amargin account with an initial deposit of $5,000. She then purchases 300 sharesof a stock at $30 each on margin, and her account requires a maintenance marginof 35%. Ignoring commissions and interest, the price at which the investor willreceive a margin call is closest to:
A. $23.08.
B. $23.81.
C. $20.51.
Solution: C
【每日一题】CFA一级权益2：
A trader haspurchased 500 shares of a firm on margin at a price of $50 per share. Theshares pay no dividend. The leverage ratio is 2.9. Six months later, the tradersells these shares at $80 per share. Ignoring the interest paid on the borrowedamount and the transaction costs, what was the return to the trader during thesix-month period?
A. 20 percent.
B. quantitativedirectional fund.
C. 174 percent.
Solution: C
Shoeless Joe Jackson purchased 500 shares of a company at $32 per share. The stock was bought on 75 percent margin. One month later, Jackson paid interest on the amount borrowed at a rate of 2% per month. At that time, Jackson received a dividend of $0.50 per share. Immediately after that he sold the shares at $28 per share. He paid commissions of $5 on the purchase and $5 on the sale of the stock. What was the rate of return on this investment for the one-month period?
A. ?15.5%.
B. -15.32%.
C. -50.1%.
Solution: B
【每日一题】CFA一级权益4：
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.
Solution: B
The market value of stock invested is $80million, and the equity amount of the investor is $30million, the initialmargin is 50%, the leverage ratio is:
A. 2.
B. 2.67.
C. 1.67.
Solution: B
A country whose financial markets are inan early stage of development. Consider preparation a list of the objectives ofmarket regulation. Which of the following is least likely to be included inthis list of objectives?
A. Minimize agencyproblems in the corporate.
B. Ensure thatfinancial markets are fair and orderly.
C. Ensure thatinvestors in the stock market achieve a rate of return that is at least equalto the risk-free rate of return.
Solution: C
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