2012年金融专业英语证书考试fect模拟试题及答案-9

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1、2012年金融专业英语证书考试FECT模拟试题及答案-9SECTIONONE(Compulsory)：Answeralltenquestionsinthissection.Eachquestioncarries1mark.　　1.Multiple-choicequestions:fromthefollowingfouroptions,selectacorrectandfillinitslabelingthebrackets.(Atotalof10points)　　1.ChuWang,CFA,gatheredthefollo

2、wingdatatoestimatetheimpliedgrowthrateofdividendsforShenghaiToysCo.touseasaninputforvaluingthecompany’scommonstock.　　ReturnonAssets10%　　ProfitMargin5%　　TotalAssistsCNY50million　　DebtRation40%　　PayoutRation25%　　Wang’sestimateofShenghaiToys’impliedgrowthratewouldbec

3、losestto:()　　A.4.17%.　　B.6.25%.　　C.12.50%.　　D.18.75%.　　2.Ifmarketinterestratesrise,thepriceofacallablebond,comparedtoanotherwiseidenticaloption-freebond,willmostlikely:()　　A.Increasebylessthantheoption-freebond.　　B.Decreasebylessthantheoption-freebond.　　C.Decrease

4、bymorethantheoption-freebond.　　D.Decreasebythesameamountastheoption-freebond.　　3.StrongsvilleFabricatorsInc.usestheFIFOmethodofinventoryvaluation.Assumingarisingcostsenvironmentandotherfactorsheldconstant,Strongsville’sprice-to-earningsandprice-to-bookmultiplesrel

5、ativetothoseforanothercompanythatusestheLIFOmethodofinventoryvaluationwouldbe:()A.AnswerA.　　B.AnswerB.　　C.AnswerC.　　D.AnswerD.　　4.Economicgrowthismeasuredbyapositivechangeinwhichofthefollowing?()　　A.Themoneysupply.　　B.TheProducerPriceIndex.　　C.TheGrossDomesticProd

6、uct.　　D.Thebalanceofpayments.　　5.Fiveyearsago,theDCACorporationissued20-yearbondswithacouponrateof12%.Iftheinvestors’requiredrateofreturn(IRR)onthesebondsiscurrently9%,thebondswillbepriced:()　　A.Belowpar.　　B.Abovepar.　　C.Aboveandbelowpar.　　D.Atpar.　　E.Asperpetuity

7、.　　6.WhichofthefollowingisNOTtrue?()　　A.Ifinterestratesrise,itisgoodforbondholders.　　B.TheFedjustcutinterestrates　　C.Forastraightbond,thecouponrategoesupasinterestratesdrop.　　D.Inflationleadstolowerbondprices.　　E.Themorecompoundingperiods,thehighertheamountofinter

8、estyoumustpayifyouaretheissuerofabond.　　7.Karen,CFA,istheinvestmentmanagerofacorporatepensionplan.UnderERISA,sheowesherfiduciarydutyto:()　　A.Theplanspon