Online Access Free CFA-Level-I Practice Test

If the price of a Wii game increases from $32 to $38 and, as a result, consumer purchases decrease, then there has been

• A.a decrease in the quantity demanded.
• B.an increase in demand.
• C.a shift in the demand curve.

On June 1, 2008, the 12 3/8 May '14 Treasury bond is quoted at 134:05 bid and 134:09 asked. If
Smedley buys a bond at the market and if the value of the bond on December 1, 2008, is 132:00, what will be her holding period return? (Do not take accrued interest, if any, into account in calculating the return)

• A.1.0291
• B.2.91%
• C.1.0300

The gains from trade for consumers are measured by

• A.external benefits.
• B.consumer surplus.
• C.producer surplus.

Which of following correctly specifies the level of the firm's receivables balance?
I). Average annual sales / Average collection period.
II). Average collection period / Average daily sales.
III). Average daily sales X Average collection period.
IV). Credit sales / Accounts receivable turnover.

• A.II and IV.
• B.III and IV.
• C.I and IV.

An investor wishes to diversify her portfolio by including real-estate as she has learned that real estate generally has a low correlation with equities. Which of the following vehicles is NOT a publicly traded real-estate investment opportunity?

• A.Real estate limited partnerships and real estate investment trusts
• B.Private equity
• C.Comingled funds