Mini simulado: CFA L1
CFA Level 1 Mini Simulation Quiz
Test your knowledge and readiness for the CFA Level 1 exam with this engaging mini quiz designed for finance enthusiasts. Challenge yourself with questions covering essential concepts in finance, economics, and investment analysis.
- 15 Questions to Assess Your Knowledge
- Covers Key CFA Topics
- Instant Feedback After Each Question
1. What is the maximum price an investor should be willing to pay (today) for a 10 year annuity that will generate $500 per quarter (such payments to be made at the end of each quarter), given he wants to earn 12%, compounded quarterly?
A) $6,440
B) $11,300
C) $11,557
2. Regardless of the shape of a distribution, according to Chebyshev's Inequality, what is the minimum percentage of observations that will lie within +/– two standard deviations of the mean?
A) 68%.
B) 75%.
C) 89%
3. If the economy is in short-run disequilibrium below full employment, the most likely explanation is that:
A) Aggregate demand has decreased.
B) Long-run aggregate supply has decreased.
C) Money wage rates have decreased.
4. Clampet Ltd. Reports under IFRS and reports certain assets on its balance sheet using the revaluation model. Machinery purchased in 20X1 for £22,000 is revalued to £20,000 at the end of 20X2. At the end of 20X3, the fair value of the asset is £23,000. The most likely effect of the change in value to £23,000 is to:
A) Increase EBIT by £3,000.
B) Increase EBIT by £2,000.
C) Leave EBIT unchanged.
5. Napa Corp. sells 1-year memberships to its Fine Wine Club for $180. Wine Club members each receive a bottle of white wine and a bottle of red wine, selected by the club director, four times each year at the beginning of each quarter. To properly account for sales of Wine Club memberships, Napa will record:
A) A liability for accrued expenses.
B) A liability for unearned revenue.
C) An asset for prepaid sales.
6. A repurchase agreement is described as a "reverse repo" if:
A) A bond dealer is the lender.
B) Collateral is delivered to the lender and returned to the borrower.
C) The repurchase price is lower than the sale price.
7. Total cash flows to investors in an ABS issue are:
A) Equal to the total interest and principal payments from the underlying asset pool if only one class of ABS has been issued from the trust.
B) Equal to the total interest and principal payments from the underlying asset pool.
C) Less than the total interest and principal payments from the underlying asset pool.
8. Using put-call parity, it can be shown that a synthetic European put can be created by a portfolio that is:
A) Short the stock, long the call, and long a pure discount bond that pays the exercise price at option expiration.
B) Short the stock, long the call, and short a pure discount bond that pays the exercise price at option expiration.
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