CFA

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　　CFA自测题

　　1.Which of the following information about a company would most likely depend on an industry analysis? The company’s:

　　A.dividend policy.

　　B.competitive environment.

　　C.trends in corporate expenses.

　　2.Which of the following statements about commercial and government industry classification systems is most accurate?

　　A.Many commercial classification systems include private for-profit companies.

　　B.Both commercial and government classification systems exclude not-for-profit companies.

　　C.Commercial classification systems are generally updated more frequently than government classification systems.

　　3.Which of the following factors would most likely be a limitation of applying business-cycle analysis to global industry analysis?

　　A.Some industries are relatively insensitive to the business cycle.

　　B.Correlations of security returns between different world markets are relatively low.

　　C.One region or country of the world may experience recession while another region experiences expansion.

　　4.An industry that most likely has both high barriers to entry and high barriers to exit is the:

　　A.restaurant industry.

　　B.advertising industry.

　　C.automobile industry.

　　5.Which of the following life-cycle phases is typically characterized by high prices?

　　A.Mature.

　　B.Growth.

　　C.Embryonic.

》》金程CFA百题预测班

　　答案往下翻

　　1.Solution: B.

　　Determination of a company’s competitive environment depends on understanding its industry.

　　2.Solution: C.

　　Commercial systems are generally updated more frequently than government systems, and include only publicly traded for-profit companies.

　　3.Solution: C.

　　Varying conditions of recession or expansion around the world would affect the comparisons of companies with sales in different regions of the world.

　　4.Solution: C.

　　For the automobile industry, the high capital requirements and other elements mentioned in the reading provide high barriers to entry, and recognition that auto factories are generally only of use for manufacturing cars implies a high barrier to exit.

　　5.Solution: C.

　　The embryonic stage is characterized by slow growth and high prices.