Free Access CFA.CFA-Level-I.v2022-03-06.q736 Practice Test (Page 22)

Question 101

Which statement is false?

A.Industries with high barriers to entry can still be very competitive.

B.Many cyclical industries produce durable, commodity-like goods such as raw materials, cars, chemicals, construction, paper, steel, and heavy equipment.

C.Company analysis takes place before the analyst has gained understanding of the company's external environment.

Question 102

Beaumont Bearings is analyzing two mutually exclusive projects with the following cash flows. Its cost of capital is 9%.
The NPV of projects X and Y are

A.X: 6,320; Y: 5,648

B.X: 9,000; Y: 8,000

C.X: 7,339; Y: 2,752

Question 103

Which is (are) NOT defined as barriers to entry?
I). Patents
II). Monopolies
III). Government licensing
IV). Economies of scale
V. Market forces
VI). Defects

A.I, II and V

B.II, V and VI

C.III, IV and V

Question 104

Which one of the following statements about the verification is false?

A.Verification reviews whether the firm is compliant on a firm-wide basis and the construction of all the composites follows GIPS requirements.

B.Verification performed by an independent third-party brings credibility to a claim of compliance.

C.Verification is a pre-requisite for conducting a global investment management business.

Question 105

According to U.S. GAAP, which of the following pieces of information about intangible assets does not need to be disclosed in a company's financial statements and footnotes?

A.The amortization method used.

B.Both the gross carrying amount and accumulated amortization expense.

C.The estimated amortization expense for the next five years.

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Question 101

Question 102

Question 103

Question 104

Question 105

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