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# Cfa Question Bank Essay

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Question 10 - #93724 If X and Y are independent events, which of the following is most accurate? A) P(X | Y) = P(X). B) P(X or Y) = (P(X)) × (P(Y)). C) P(X or Y) = P(X) + P(Y).

Question 11 - #93542 A T-bill with a face value of \$100,000 and 140 days until maturity is selling for \$98,000. What is the effective annual yield (EAY)? A) 2.04%. B) 5.41%. C) 5.14%.

Question 12 - #93617

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Question 13 - #95440 A) 5.6%. B) 6.1%. C) 5.8%.

Time-weighted returns are used by the investment management industry because they: A) result in higher returns versus the money-weighted return calculation. B) take all cash inflows and outflows into account using the internal rate of return. C) are not affected by the timing of cash flows.

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The bank discount of a \$1,000,000 T-bill with 135 days until maturity that is currently selling for \$979,000 is: Question 14 - #96024 Calabash Crab House is considering an investment in mutually exclusive kitchen-upgrade projects with the following cash flows: Project A -\$10,000 2,000 5,000 8,000 8,000 Project B -\$9,000 200 -2,000 11,000 15,000

Initial Year Year 1 Year 2 Year 3 Year 4

Assuming Calabash has a 12.5% cost of capital, which of the following investment decisions is most appropriate? A) Accept Project B because its net present value is higher than that of Project A.

B) Accept Project A because its internal rate of return is higher than that of Project B. C) Accept both projects because they both have positive net present values.

Question 15 - #93713 The probability of each of three independent events is shown in the table below. What is the probability of A and C occurring, but not B? Event Probability of Occurrence A B C A) 8.9%. B) 10.5%. C) 3.8%. 25% 15% 42%

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End of Year 1 2 3 4 5 6 7 8 9 Cash Flows \$5,000 \$5,000 \$5,000 \$5,000 \$5,000 -0-0\$2,000 \$2,000

Question 16 - #93756

A firm is evaluating an investment that promises to generate the following...

• Submitted by: huangfu
• on February 4, 2012
• Length: 48,783 words
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