Free Access CFA.CFA-Level-I.v2023-07-10.q797 Practice Test (Page 34)

Question 161

Assume the managers want to maximize bonuses, which are based on current net income.
Managers should prefer:

A.Expensing research & development costs.

B.Using straight-line rather than accelerated depreciation for financial statement purposes.

C.Successful efforts rather than full costing of oil & gas drilling.

Question 162

Which of the following is correct?

A.Return Objectives address liquidity needs and time horizons of the clients.

B.A Policy Statement lays out the duties of an investment advisor to her client.

C.The Investment Constraints include: Liquidity Constraints; Time Horizon; Tax Concerns; Legal and
Regulatory; and Unique Circumstances.

Question 163

The main reason for dollarization is:

A.to improve the credit-worthiness of the central bank.

B.greater stability in the value of the foreign currency over domestic currency.

C.to follow the foreign country's monetary policy.

Question 164

A survey of top executives revealed that 35% of them regularly read Time magazine, 20% real
Newsweek and 40% read U.S. News & World Report. Ten percent read both Time and U.S. News &
World Report. What is the probability that a particular top executive reads either Time or U.S. News &
World Report regularly?

A.0.85

B.0.06

C.0.65

Question 165

Which of the following bonds is likely to command the HIGHEST yield, assuming they are all issued by the same entity and have the same maturity?

A.Sinking fund bonds.

B.Amortizing bonds.

C.Callable bonds.

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Question 161

Question 162

Question 163

Question 164

Question 165

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