Free Access CFA.CFA-Level-I.v2023-07-10.q797 Practice Test (Page 101)

Question 496

The difference between an arithmetic average and a geometric average of returns:

A.increases as the variability of the returns decreases.

B.depends on the specific returns being averaged, but is not necessarily sensitive to their variability.

C.increases as the variability of the returns increases.

Question 497

External (informational) efficiency means that:

A.many buyers and sellers are aware of the trading activity of the market

B.the market price reflects all available information about a security

C.the price information generated in the market is broadcast widely

Question 498

According to SAS 99, which of the following is least likely to be a risk factor related to incentives/pressures to commit fraudulent accounting?

A.The profitability is threatened by competition or market saturation, accompanied by declining margins.

B.The nature of the firm's industry involves ability to dictate terms and conditions to suppliers and customers that may result in transactions that are not at arms' length.

C.Personal net worth of management is threatened by the firm's poor financial performance.

Question 499

For discontinued operations,

A.income from operations and any gain or loss on disposal are reported as operating items on the income statement.

B.income from operations and any gain or loss on disposal are reported as nonoperating items on the income statement.

C.income from operations is reported as an operating item and any gain or loss on disposal is reported as a nonoperating item on the income statement.

Question 500

A discrete uniform distribution is defined over the range, X = 2 to 6. What is the cumulative probability that the observations 4, 5 and 6 will be observed?

A.60%

B.20%

C.50%

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Question 496

Question 497

Question 498

Question 499

Question 500

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