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1.[单选题] 纠错收藏提问移除

An oil and gas exploration and production company announces that it is offering 30 million shares to the public at $45.50 each. This transaction is most likely a sale in the:

A
futures market.
B
primary market.
C
secondary market.

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2.[单选题] 纠错收藏提问移除

The Standard & Poor’s Depositary Receipts (SPDRs) is an exchange-traded fund in the United States that is designed to track the S&P 500 stock market index. The current price of a share of SPDRs is $113. A trader has just bought call options on shares of SPDRs for a premium of $3 per share. The call options expire in five months and have an exercise price of $120 per share. On the expiration date, the trader will exercise the call options (ignore any transaction costs) if and only if the shares of SPDRs are trading:

A
below $120 per share.
B
above $120 per share.
C
above $123 per share.

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3.[单选题] 纠错收藏提问移除

An online brokerage firm has set the minimum margin requirement at 55 percent. What is the maximum leverage ratio associated with a position financed by this minimum margin requirement?

A
1.55
B
1.82
C
2.22

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4.[单选题] 纠错收藏提问移除

You own shares of a company that are currently trading at $30 a share. Your technical analysis of the shares indicates a support level of $27.50. That is, if the price of the shares is going down, it is more likely to stay above this level rather than fall below it. If the price does fall below this level, however, you believe that the price may continue to decline. You have no immediate intent to sell the shares but are concerned about the possibility of a huge loss if the share price declines below the support level. Which of the following types of orders could you place to most appropriately address your concern?

A
Short sell order.
B
Good-till-cancelled stop sell order.
C
Good-till-cancelled stop buy order.

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5.[单选题] 纠错收藏提问移除

A security market index represents the:

A
risk of a security market.
B
security market as a whole.
C
security market, market segment, or asset class.

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6.[单选题] 纠错收藏提问移除

One month after inception, the price return version and total return version of a single index (consisting of identical securities and weights) will be equal if:

A
market prices have not changed.
B
capital gains are offset by capital losses.
C
the securities do not pay dividends or interest.

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7.[单选题] 纠错收藏提问移除

An analyst gathers the following information for a market-capitalization-weighted index comprised of securities MNO, QRS, and XYZ:
The total return of the index is:

A
1.04%.
B
–5.35%.
C
–10.23%.

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8.[单选题] 纠错收藏提问移除

A float-adjusted market-capitalization-weighted index weights each of its constituent securities by its price and:

A
its trading volume.
B
the number of its shares outstanding.
C
the number of its shares available to the investing public.

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9.[单选题] 纠错收藏提问移除

Which of the following statements regarding fixed-income indices is most accurate?

A
Liquidity issues make it difficult for investors to easily replicate fixed-income indices.
B
Rebalancing and reconstitution are the only sources of turnover in fixed-income indices.
C
Fixed-income indices representing the same target market hold similar numbers of bonds.

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10.[单选题] 纠错收藏提问移除

Which of the following is not a real estate index category?

A
Appraisal index.
B
Initial sales index.
C
Repeat sales index.

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11.[单选题] 纠错收藏提问移除

A unique feature of hedge fund indices is that they:

A
are frequently equal weighted.
B
are determined by the constituents of the index.
C
reflect the value of private rather than public investments.

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12.[单选题] 纠错收藏提问移除

Technical analysts assume that markets are:

A
weak-form efficient.
B
weak-form inefficient.
C
semi-strong-form efficient.

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If a market is weak-form efficient but semi-strong-form inefficient, then which of the following types of portfolio management is most likely to produce abnormal returns?

A
Passive portfolio management.
B
Active portfolio management based on technical analysis.
C
Active portfolio management based on fundamental analysis.

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14.[单选题] 纠错收藏提问移除

Which of the following is least likely to explain the January effect anomaly?

A
Tax-loss selling.
B
Release of new information in January.
C
Window dressing of portfolio holdings.

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15.[单选题] 纠错收藏提问移除

With respect to rational and irrational investment decisions, the efficient market hypothesis requires:

A
only that the market is rational.
B
that all investors make rational decisions.
C
that some investors make irrational decisions.

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16.[单选题] 纠错收藏提问移除

A key criticism of robo-advisory services is that:

A
they are costly for investors to use.
B
the reasoning behind their recommendations can be unclear.
C
they tend to produce overly aggressive investment recommendations.

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17.[单选题] 纠错收藏提问移除

New issues of securities are transactions in:

A
the primary market.
B
the secondary market.
C
the seasoned market.

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18.[单选题] 纠错收藏提问移除

A market is said to be informationally efficient if it features:

A
market prices that reflect all available information about the value of the securities traded.
B
timely and accurate information about current supply and demandconditions.
C
many buyers and sellers that are willing to trade at prices above and belowthe prevailing market price.

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Which of the following would least likely be an objective of market regulation?

A
Reduce burdensome accounting standards.
B
Make it easier for investors to evaluate performance
C
Prevent investors from using inside information in securities trading.

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20.[单选题] 纠错收藏提问移除

The 1-year return on a market capitalization-weighted index of these stocks isclosest to:

A
12.5%.
B
13.5%.
C
18.0%.

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21.[单选题] 纠错收藏提问移除

Which of the following is least accurate regarding fixed-income indexes?

A
Replicating the return on a fixed-income security index is difficult forinvestors.
B
There is a great deal of heterogeneity in the composition of fixed-income security indexes.
C
Due to the large universe of fixed-income security issues, data for fixed income securities are relatively easy to obtain.

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22.[单选题] 纠错收藏提问移除

The intrinsic value of an asset:

A
changes through time as new information is released
B
is the price at which the asset can be bought or sold at a given point in time.
C
can be easily determined with a financial calculator, given investor risk Preferences.

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答题卡

An oil and gas exploration and production company announces that it is offering 30 million shares to the public at $45.50 each. This transaction is most likely a sale in the:

An online brokerage firm has set the minimum margin requirement at 55 percent. What is the maximum leverage ratio associated with a position financed by this minimum margin requirement?

A security market index represents the:

One month after inception, the price return version and total return version of a single index (consisting of identical securities and weights) will be equal if:

An analyst gathers the following information for a market-capitalization-weighted index comprised of securities MNO, QRS, and XYZ: The total return of the index is:

A float-adjusted market-capitalization-weighted index weights each of its constituent securities by its price and:

Which of the following statements regarding fixed-income indices is most accurate?

Which of the following is not a real estate index category?

A unique feature of hedge fund indices is that they:

Technical analysts assume that markets are:

If a market is weak-form efficient but semi-strong-form inefficient, then which of the following types of portfolio management is most likely to produce abnormal returns?

Which of the following is least likely to explain the January effect anomaly?

With respect to rational and irrational investment decisions, the efficient market hypothesis requires:

A key criticism of robo-advisory services is that:

New issues of securities are transactions in:

A market is said to be informationally efficient if it features:

Which of the following would least likely be an objective of market regulation?

The 1-year return on a market capitalization-weighted index of these stocks isclosest to:

Which of the following is least accurate regarding fixed-income indexes?

The intrinsic value of an asset:

考试形式介绍

An analyst gathers the following information for a market-capitalization-weighted index comprised of securities MNO, QRS, and XYZ:
The total return of the index is: