Tentamen (uitwerkingen)
CFA Level 1 Test Questions With 100% Correct Answers 2023
CFA Level 1 Test Questions With 100% Correct Answers 2023
[Meer zien]Voorbeeld 2 van de 13 pagina's
Voorbeeld 2 van de 13 pagina's
In winkelwagengesponsord bericht van onze partner
Voorbeeld van de inhoud
CFA Level 1 Test Questions With 100%Correct Answers 2023
Allen Jabber invested $400 at the beginning of the last 12 months in the shares of a
mutual fund that paid no dividends. Which Method will he correctly choose to calculate
his average price per share from the monthly share prices?
a) Arithmetic Mean
b) Harmonic Mean
c) Geometric Mean - correct answer-Harmonic Mean - The harmonic mean of the 12
purchase prices will be his average price paid per share.
Colonia has 2 political parties, the Wigs and the Wags. If the Wags are elected there is
a 32% probability of a tax increase over the next 4 years. If the Wigs are elected there is
a 60% probability of a tax increase. There is a 20% probability the that the Wags will be
elected. The sum of the (unconditional) probability of a tax increase and the joint
probability that the wigs will be elected and there will be no tax increase is closest to:
a) 55%
b) 70%
c) 85% - correct answer-86.4% = C
The unconditional probability of a tax increase is: 0.2(0.32) + 0.8(0.6) = 54.4%.
The joint probability that the Wigs will be elected and there will be no tax increase is:
0.8(0.4) = 32%. The sum is: 54.4 + 32 = 86.4%.
An analyst who wants to display the relationship between two variables graphically is
most likely to use:
a) a histogram
b) a scatterplot
c) a frequency polygon - correct answer-B = Scatterplot
Scatterplots illustrate the relationship between two variables.
Histograms and frequency polygons show the distribution of observations for a single
variable.
Ralph will retire 15 years from today and has saved $121,000 in his investment account
for retirement. He believes he will need 37,000 at the beginning of each year for 25
Years of retirement, with the first withdrawal on the day he retires. Ralph assumes his
account will earn 8%. The amount he needs to deposit at the beginning of this year and
each of the following 14 Years (15 in all) is closest to:
a) 1350
, b) 1450
c) 1550 - correct answer-B = 1450
Step 1:
Calculate the amount needed at retirement at t = 15, with your calculator in BGN mode.
N = 25, FV = 0, I/Y = 8, PMT = 37,000, CPT PV = -426,564
Step 2:
Calculate the required deposits at t = 0,1,....,14 to result in a time 15 value of 426,564,
with your calculator still in BGN mode.
PV = -121,000, N = 15, I/Y = 8, FV = 426,564, CPT PMT = -$1,457.21
The current price of Bosto shares is $50. Over the coming year, there is a 40%
probability that share returns will be 10%, 40% probability returns will be 12.5%, and a
20% probability share returns will be 30%. Bostos expected return and standard
deviation of returns for the coming year are closest to:
a) E(R) = 15% Standard Dev = 7.58%
b) E(R) = 17.5% Standard Dev = 5.75%
a) E(R) = 17.5% Standard Dev = 7.58% - correct answer-A
E[R] = (0.4)(10) + (0.4)(12.5) + (0.2)(30) = 15%
Variance = (0.4)(10 − 15)2 + (0.4)(12.5 − 15)2 + (0.2)(30 − 15)2 = 57.5
Standard deviation=√57.5=7.58%
Nikki Ali and Donald Ankard borrowed $15,000 to finance their wedding and reception.
The fully amortizing loan at 11% requires equal payments at the end of each of the next
seven years. The principle portion of the first payment is closest to:
A) 1500
B) 1530
C) 1560 - correct answer-B
The interest portion of the first payment is simply principal × interest rate = (15,000 ×
0.11) = 1,650.
Using a financial calculator: PV = 15,000, FV = 0, I/Y = 11, N = 7, CPT PMT= $3,183
Principal = payment − interest = 3,183 − 1,650 = 1,533
Which of the following statements about probability distributions is least accurate?
A) Continuous uniform distributions have cumulative distribution functions that are
straight lines from 0 to 1.
B) The probability that a continuously distributed random variable will take on a specific
value is always 0.
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper hadassar. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €10,74. Je zit daarna nergens aan vast.
Is Stuvia te vertrouwen?
4,6 sterren op Google & Trustpilot (+1000 reviews)
Afgelopen 30 dagen zijn er 79223 samenvattingen verkocht
Opgericht in 2010, al 14 jaar dé plek om samenvattingen te kopen