idx int32 | question_id string | context string | question string | options list | image_1 image | image_2 image | image_3 image | image_4 image | image_5 image | image_6 image | image_7 image | image_type string | answers string | explanation string | topic_difficulty string | question_type string | subfield string | language string | main_question_id string | sub_question_id string | is_arithmetic int32 | ans_image_1 image | ans_image_2 image | ans_image_3 image | ans_image_4 image | ans_image_5 image | ans_image_6 image | release string |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
100 | english_94_1_r1 | nan | The financial statements of Black Barn Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $40 each. Refer to the financial statements of Black Barn Company. The firm's average collection period for 2009 is | [
"A. 59.31",
"B. 55.05",
"C. 61.31",
"D. 49.05",
"E. None of the options are correct"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | D | <ans_image_1> | easy | multiple-choice | financial statement analysis | english | 94 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
101 | english_95_1_r1 | nan | The financial statements of Black Barn Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $40 each. Refer to the financial statements of Black Barn Company. The firm's inventory turnover ratio for 2009 is | [
"A. 3.15",
"B. 3.63",
"C. 3.69",
"D. 2.58",
"E. 4.20"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | <ans_image_1> | easy | multiple-choice | financial statement analysis | english | 95 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
102 | english_96_1_r1 | nan | The financial statements of Black Barn Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $40 each. Refer to the financial statements of Black Barn Company. The firm's fixed asset turnover ratio for 2009 is | [
"A. 2.04",
"B. 2.58",
"C. 2.97",
"D. 1.58",
"E. None of the options are correct"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | <ans_image_1> | easy | multiple-choice | financial statement analysis | english | 96 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
103 | english_97_1_r1 | nan | The financial statements of Black Barn Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $40 each. Refer to the financial statements of Black Barn Company. The firm's asset turnover ratio for 2009 is | [
"A. 1.79",
"B. 1.63",
"C. 1.34",
"D. 2.58",
"E. None of the options are correct"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | <ans_image_1> | easy | multiple-choice | financial statement analysis | english | 97 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
104 | english_98_1_r1 | nan | The financial statements of Black Barn Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $40 each. Refer to the financial statements of Black Barn Company. The firm's return on sales ratio for 2009 is | [
"A. 15.5%",
"B. 14.6%",
"C. 14.0%",
"D. 15.0%",
"E. 16.5%"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | $1,240,000/$8,000,000 = 15.5%. | easy | multiple-choice | financial statement analysis | english | 98 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
105 | english_99_1_r1 | nan | The financial statements of Black Barn Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $40 each. Refer to the financial statements of Black Barn Company. The firm's return on equity ratio for 2009 is | [
"A. 16.88%",
"B. 15.63%",
"C. 14.00%",
"D. 15.00%",
"E. 16.24%"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | <ans_image_1> | easy | multiple-choice | financial statement analysis | english | 99 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
106 | english_100_1_r1 | nan | The financial statements of Black Barn Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $40 each. Refer to the financial statements of Black Barn Company. The firm's P/E ratio for 2009 is | [
"A. 8.88",
"B. 7.63",
"C. 7.88",
"D. 7.32"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | <ans_image_1> | easy | multiple-choice | financial statement analysis | english | 100 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
107 | english_101_1_r1 | nan | The financial statements of Black Barn Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $40 each. Refer to the financial statements of Black Barn Company. The firm's market-to-book value for 2009 is | [
"A. 1.13",
"B. 1.62",
"C. 1.00",
"D. 1.26"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | D | $40/$31.85 = 1.26. | easy | multiple-choice | financial statement analysis | english | 101 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
108 | english_102_1_r1 | nan | The financial statements of Midwest Tours are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $36 each. Refer to the financial statements of Midwest Tours. The firm's current ratio for 2009 is | [
"A. 1.82",
"B. 1.03",
"C. 1.30",
"D. 1.65",
"E. None of the options are correct"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | $860,000/$660,000 = 1.30. | easy | multiple-choice | financial statement analysis | english | 102 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
109 | english_103_1_r1 | nan | The financial statements of Midwest Tours are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $36 each. Refer to the financial statements of Midwest Tours. The firm's quick ratio for 2009 is | [
"A. 1.71",
"B. 0.78",
"C. 0.85",
"D. 1.56"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | ($860,000 - $300,000)/$660,000 = 0.85. | easy | multiple-choice | financial statement analysis | english | 103 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
110 | english_104_1_r1 | nan | The financial statements of Midwest Tours are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $36 each. Refer to the financial statements of Midwest Tours. The firm's leverage ratio for 2009 is | [
"A. 1.62",
"B. 1.56",
"C. 2.00",
"D. 2.42",
"E. 2.17"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | $3,040,000/$1,520,000 = 2.00. | easy | multiple-choice | financial statement analysis | english | 104 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
111 | english_105_1_r1 | nan | The financial statements of Midwest Tours are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $36 each. Refer to the financial statements of Midwest Tours. The firm's times interest earned ratio for 2009 is | [
"A. 2.897",
"B. 2.719",
"C. 3.375",
"D. 3.462"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | $540,000/160,000 = 3.375. | easy | multiple-choice | financial statement analysis | english | 105 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
112 | english_106_1_r1 | nan | The financial statements of Midwest Tours are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $36 each. Refer to the financial statements of Midwest Tours. The firm's average collection period for 2009 is | [
"A. 69.35",
"B. 69.73",
"C. 68.53",
"D. 67.77",
"E. 68.52"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | <ans_image_1> | medium | multiple-choice | financial statement analysis | english | 106 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
113 | english_107_1_r1 | nan | The financial statements of Midwest Tours are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $36 each. Refer to the financial statements of Midwest Tours. The firm's inventory turnover ratio for 2009 is | [
"A. 2.86",
"B. 1.23",
"C. 5.96",
"D. 4.42",
"E. 4.86"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | D | <ans_image_1> | easy | multiple-choice | financial statement analysis | english | 107 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
114 | english_108_1_r1 | nan | The financial statements of Midwest Tours are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $36 each. Refer to the financial statements of Midwest Tours. The firm's fixed asset turnover ratio for 2009 is | [
"A. 1.45",
"B. 1.63",
"C. 1.20",
"D. 1.58"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | <ans_image_1> | easy | multiple-choice | financial statement analysis | english | 108 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
115 | english_109_1_r1 | nan | The financial statements of Midwest Tours are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $36 each. Refer to the financial statements of Midwest Tours. The firm's asset turnover ratio for 2009 is | [
"A. 1.86",
"B. 0.63",
"C. 0.83",
"D. 1.63"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | <ans_image_1> | easy | multiple-choice | financial statement analysis | english | 109 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
116 | english_110_1_r1 | nan | The financial statements of Midwest Tours are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $36 each. Refer to the financial statements of Midwest Tours. The firm's return on sales ratio for 2009 is | [
"A. 20.2%",
"B. 21.6%",
"C. 22.4%",
"D. 18.0%"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | $540,000/$2,500,000 = 0.216, or 21.6%. | easy | multiple-choice | financial statement analysis | english | 110 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
117 | english_111_1_r1 | nan | The financial statements of Midwest Tours are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $36 each. Refer to the financial statements of Midwest Tours. The firm's return on equity ratio for 2009 is | [
"A. 12.24%",
"B. 14.63%",
"C. 15.50%",
"D. 14.50%",
"E. 16.9%"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | <ans_image_1> | easy | multiple-choice | financial statement analysis | english | 111 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
118 | english_112_1_r1 | nan | The financial statements of Midwest Tours are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $36 each. Refer to the financial statements of Midwest Tours. The firm's P/E ratio for 2009 is | [
"A. 4.74",
"B. 6.63",
"C. 5.21",
"D. 5.00"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | <ans_image_1> | easy | multiple-choice | financial statement analysis | english | 112 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
119 | english_113_1_r1 | nan | The financial statements of Midwest Tours are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $36 each. Refer to the financial statements of Midwest Tours. The firm's market-to-book value for 2009 is | [
"A. 0.24",
"B. 0.95",
"C. 0.71",
"D. 1.12"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | <ans_image_1> | easy | multiple-choice | financial statement analysis | english | 113 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
120 | english_114_1_r1 | nan | The financial statements of Snapit Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $100 each. Refer to the financial statements for Snapit Company. The firm's current ratio for 2009 is | [
"A. 1.98",
"B. 2.47",
"C. 0.65",
"D. 1.53",
"E. None of the options are correct"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | D | $1,300,000/$850,000 = 1.53. | easy | multiple-choice | financial statement analysis | english | 114 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
121 | english_115_1_r1 | nan | The financial statements of Snapit Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $100 each. Refer to the financial statements of Snapit Company. The firm's quick ratio for 2009 is | [
"A. 1.68",
"B. 1.12",
"C. 0.72",
"D. 1.92",
"E. None of the options are correct"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | <ans_image_1> | easy | multiple-choice | financial statement analysis | english | 115 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
122 | english_116_1_r1 | nan | The financial statements of Snapit Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $100 each. Refer to the financial statements of Snapit Company. The firm's leverage ratio for 2009 is | [
"A. 2.25",
"B. 3.53",
"C. 2.61",
"D. 3.06",
"E. None of the options are correct"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | D | $2,600,000/$850,000 = 3.06. | easy | multiple-choice | financial statement analysis | english | 116 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
123 | english_117_1_r1 | nan | The financial statements of Snapit Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $100 each. Refer to the financial statements of Snapit Company. The firm's times interest earned ratio for 2009 is | [
"A. 2.26",
"B. 3.16",
"C. 3.84",
"D. 3.31",
"E. None of the options are correct"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | D | $530,000/$160,000 = 3.31. | easy | multiple-choice | financial statement analysis | english | 117 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
124 | english_118_1_r1 | nan | The financial statements of Snapit Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $100 each. Refer to the financial statements of Snapit Company. The firm's average collection period for 2009 is _______ days. | [
"A. 47.91",
"B. 48.53",
"C. 46.06",
"D. 47.65",
"E. None of the options are correct"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | (525,000/4,000,000) (365) = 47.91. | easy | multiple-choice | financial statement analysis | english | 118 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
125 | english_119_1_r1 | nan | The financial statements of Snapit Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $100 each. Refer to the financial statements of Snapit Company. The firm's inventory turnover ratio for 2009 is | [
"A. 4.64",
"B. 4.16",
"C. 4.41",
"D. 4.87",
"E. None of the options are correct"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | <ans_image_1> | easy | multiple-choice | financial statement analysis | english | 119 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
126 | english_120_1_r1 | nan | The financial statements of Snapit Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $100 each. Refer to the financial statements of Snapit Company. The firm's fixed asset turnover ratio for 2009 is | [
"A. 4.60",
"B. 3.61",
"C. 3.16",
"D. 5.46"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | <ans_image_1> | easy | multiple-choice | financial statement analysis | english | 120 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
127 | english_121_1_r1 | nan | The financial statements of Snapit Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $100 each. Refer to the financial statements of Snapit Company. The firm's asset turnover ratio for 2009 is | [
"A. 1.60",
"B. 3.16",
"C. 3.31",
"D. 4.64"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | <ans_image_1> | easy | multiple-choice | financial statement analysis | english | 121 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
128 | english_122_1_r1 | nan | The financial statements of Snapit Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $100 each. Refer to the financial statements of Snapit Company. The firm's return on sales ratio for 2009 is | [
"A. 0.0133",
"B. 0.1325",
"C. 1.325",
"D. 1.260"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | $530,000/$4,000,000 = 0.1325. | easy | multiple-choice | financial statement analysis | english | 122 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
129 | english_123_1_r1 | nan | The financial statements of Snapit Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $100 each. Refer to the financial statements of Snapit Company. The firm's return on equity ratio for 2009 is | [
"A. 0.1235",
"B. 0.0296",
"C. 0.2960",
"D. 2.2960"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | <ans_image_1> | easy | multiple-choice | financial statement analysis | english | 123 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
130 | english_124_1_r1 | nan | The financial statements of Snapit Company are given below. <image_1> <image_2> Note: The common shares are trading in the stock market for $100 each. Refer to the financial statements of Snapit Company. The firm's market-to-book value for 2009 is | [
"A. 0.7256",
"B. 1.5294",
"C. 2.9400",
"D. 3.6142"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | <ans_image_1> | easy | multiple-choice | financial statement analysis | english | 124 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
131 | english_125_1_r1 | nan | The following price quotations were taken from the Wall Street Journal. <image_1> The premium on one February 90 call contract is | [
"A. $3.1250",
"B. $318.00",
"C. $312.50",
"D. $58.00"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | 31/8 = $3.125 * 100 = $312.50. Price quotations are per share; however, option contracts are standardized for
100 shares of the underlying stock; thus, the quoted premiums must be multiplied by 100. | easy | multiple-choice | derivatives | english | 125 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |
132 | english_126_1_r1 | nan | The following price quotations on WFM were taken from the Wall Street Journal. <image_1> The premium on one WFM February 90 call contract is | [
"A. $4.1250",
"B. $418.00",
"C. $412.50",
"D. $158.00"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | 41/8 = $4.125 * 100 = $412.50. Price quotations are per share; however, option contracts are standardized for
100 shares of the underlying stock; thus, the quoted premiums must be multiplied by 100. | easy | multiple-choice | derivatives | english | 126 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |
133 | english_127_1_r1 | nan | The following price quotations on WFM were taken from the Wall Street Journal. <image_1> The premium on one WFM February 85 call contract is | [
"A. $8.875",
"B. $887.50",
"C. $412.50",
"D. $158.00"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | 87/8 = $8.875 * 100 = $887.50. Price quotations are per share; however, option contracts are standardized for
100 shares of the underlying stock; thus, the quoted premiums must be multiplied by 100. | easy | multiple-choice | derivatives | english | 127 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |
134 | english_128_1_r1 | nan | Consider the following: <image_1> What should be the proper futures price for a 1-year contract? | [
"A. 1.703 A$/$",
"B. 1.654 A$/$",
"C. 1.638 A$/$",
"D. 1.778 A$/$",
"E. 1.686 A$/$"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | <ans_image_1> | easy | multiple-choice | derivatives | english | 128 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
135 | english_129_1_r1 | nan | Consider the following: <image_1> If the futures market price is 1.63 A$/$, how could you arbitrage? | [
"A. Borrow Australian dollars in Australia, convert them to dollars, lend the proceeds in the United States, and enter futures positionsto purchase Australian dollars at the current futures price",
"B. Borrow U.S. dollars in the United States, convert them to Australian dollars, lend the proceeds in Australia, an... | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | <ans_image_1> | easy | multiple-choice | derivatives | english | 129 | 1 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
136 | english_130_1_r1 | nan | Consider the following: <image_1> If the market futures price is 1.69 A$/$, how could you arbitrage? | [
"A. Borrow Australian dollars in Australia, convert them to dollars, lend the proceeds in the United States, and enterfutures positions to purchase Australian dollars at the current futures price",
"B. Borrow U.S. dollars in the United States, convert them to Australian dollars, lend the proceeds in Australia, an... | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | <ans_image_1> | medium | multiple-choice | derivatives | english | 130 | 1 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
137 | english_131_1_r1 | nan | Consider the following: <image_1> Assume the current market futures price is 1.66 A$/$. You borrow 167,000 A$, convert the proceeds to U.S. dollars, and invest them in the U.S. at the risk-free rate. You simultaneously enter a contract to purchase 170,340 A$ at the current futures price (maturity of 1 year). What would... | [
"A. Profit of 630 A$",
"B. Loss of 2300 A$",
"C. Profit of 2300 A$",
"D. Loss of 630 A$"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | <ans_image_1> | medium | multiple-choice | derivatives | english | 131 | 1 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
138 | english_132_1_r1 | nan | You are given the following information about a portfolio you are to manage. For the long term, you are bullish, but you think the market may fall over the next month. <image_1> If the anticipated market value materializes, what will be your expected loss on the portfolio? | [
"A. 14.29%",
"B. 16.67%",
"C. 15.43%",
"D. 8.57%",
"E. 6.42%"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | D | The change would represent a drop of (1,200 1,400)/1,400 = 14.3% in the index. Given the portfolio's beta, your portfolio would be expected to lose 0.6 * 14.3% = 8.57%. | medium | multiple-choice | derivatives | english | 132 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |
139 | english_133_1_r1 | nan | You are given the following information about a portfolio you are to manage. For the long term, you are bullish, but you think the market may fall over the next month. <image_1> What is the dollar value of your expected loss? | [
"A. $142,900",
"B. $16,670",
"C. $85,700",
"D. $30,000",
"E. $64,200"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | The dollar value equals the loss of 8.57% times the $1 million portfolio value = $85,700. | easy | multiple-choice | derivatives | english | 133 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |
140 | english_134_1_r1 | nan | You are given the following information about a portfolio you are to manage. For the long term, you are bullish, but you think the market may fall over the next month. <image_1> For a 200-point drop in the S&P 500, by how much does the value of the futures position change? | [
"A. $200,000",
"B. $50,000",
"C. $250,000",
"D. $500,000",
"E. $100,000"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | The change is 200 points times the $250 multiplier, which equals $50,000. | easy | multiple-choice | derivatives | english | 134 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |
141 | english_135_1_r1 | nan | You are given the following information about a portfolio you are to manage. For the long term, you are bullish, but you think the market may fall over the next month. <image_1> How many contracts should you buy or sell to hedge your position? Allow fractions of contracts in your answer. | [
"A. sell 1.714",
"B. buy 1.714",
"C. sell 4.236",
"D. buy 4.236",
"E. sell 11.235"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | The number of contracts equals the hedge ratio = change in portfolio value/profit on one futures contract = $85,700/$50,000 = 1.714. You should sell the contract because as the market falls the value of the futures contract will rise and will offset the decline in the portfolio's value. | easy | multiple-choice | derivatives | english | 135 | 1 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |
142 | english_136_1_r1 | nan | You are given the following information about a portfolio you are to manage. For the long term, you are bullish, but you think the market may fall over the next month. <image_1> If the anticipated market value materializes, what will be your expected loss on the portfolio? | [
"A. 7.58%",
"B. 6.52%",
"C. 15.43%",
"D. 8.57%",
"E. 6.42%"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | The change would represent a drop of (915 990)/990 = 7.58% in the index. Given the portfolio's beta, your portfolio would be expected to lose 0.86* 7.58% = 6.52%. | easy | multiple-choice | derivatives | english | 136 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |
143 | english_137_1_r1 | nan | You are given the following information about a portfolio you are to manage. For the long term, you are bullish, but you think the market may fall over the next month. <image_1> What is the dollar value of your expected loss? | [
"A. $142,900",
"B. $65,200",
"C. $85,700",
"D. $30,000",
"E. $64,200"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | The dollar value equals the loss of 6.52% times the $1 million portfolio value = $65,200. | easy | multiple-choice | derivatives | english | 137 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |
144 | english_138_1_r1 | nan | You are given the following information about a portfolio you are to manage. For the long term, you are bullish, but you think the market may fall over the next month. <image_1> For a 75-point drop in the S&P 500, by how much does the futures position change? | [
"A. $200,000",
"B. $50,000",
"C. $250,000",
"D. $500,000",
"E. $18,750"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | E | The change is 75 points times the $250 multiplier, which equals $18,750. | easy | multiple-choice | derivatives | english | 138 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |
145 | english_139_1_r1 | nan | You are given the following information about a portfolio you are to manage. For the long term, you are bullish, but you think the market may fall over the next month. <image_1> How many contracts should you buy or sell to hedge your position? Allow fractions of contracts in your answer. | [
"A. Sell 3.477",
"B. Buy 3.477",
"C. Sell 4.236",
"D. Buy 4.236",
"E. Sell 11.235"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | The number of contracts equals the hedge ratio equals: Change in portfolio value/profit on one futures contract = $65,200/$18,750 = 3.477. You should sell the contract because as the market falls the value of the futures contract will rise and will offset the decline in the portfolio's value. | medium | multiple-choice | derivatives | english | 139 | 1 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |
146 | english_140_1_r1 | nan | You want to evaluate three mutual funds using the Sharpe measure for performance evaluation. The risk-free return during the sample period is 6%. The average returns, standard deviations, and betas for the three funds are given below, as are the data for the S&P 500 Index. <image_1> The fund with the highest Sharpe mea... | [
"A. Fund A",
"B. Fund B",
"C. Fund C",
"D. Funds A and B (tied for highest)",
"E. Funds A and C (tied for highest)"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | <ans_image_1> | easy | multiple-choice | equity | english | 140 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
147 | english_141_1_r1 | nan | You want to evaluate three mutual funds using the Sharpe measure for performance evaluation. The risk-free return during the sample period is 4%. The average returns, standard deviations, and betas for the three funds are given below, as are the data for the S&P 500 Index. <image_1> The fund with the highest Sharpe mea... | [
"A. Fund A",
"B. Fund B",
"C. Fund C",
"D. Funds A and B (tied for highest)",
"E. Funds A and C (tied for highest)"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | <ans_image_1> | easy | multiple-choice | equity | english | 141 | 1 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
148 | english_142_1_r1 | nan | You want to evaluate three mutual funds using the Sharpe measure for performance evaluation. The risk-free return during the sample period is 5%. The average returns, standard deviations, and betas for the three funds are given below, as are the data for the S&P 500 Index. <image_1> The investment with the highest Shar... | [
"A. Fund A",
"B. Fund B",
"C. Fund C",
"D. the index",
"E. Funds A and C (tied for highest)"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | D | <ans_image_1> | easy | multiple-choice | equity | english | 142 | 1 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
149 | english_143_1_r1 | nan | You want to evaluate three mutual funds using the Treynor measure for performance evaluation. The risk-free return during the sample period is 6%. The average returns, standard deviations, and betas for the three funds are given below, in addition to information regarding the S&P 500 Index. <image_1> The fund with the ... | [
"A. Fund A",
"B. Fund B",
"C. Fund C",
"D. Funds A and B (tied for highest)",
"E. Funds A and C (tied for highest)"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | <ans_image_1> | easy | multiple-choice | equity | english | 143 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
150 | english_144_1_r1 | nan | You want to evaluate three mutual funds using the Jensen measure for performance evaluation. The risk-free return during the sample period is 6%, and the average return on the market portfolio is 18%. The average returns, standard deviations, and betas for the three funds are given below. <image_1> The fund with the hi... | [
"A. Fund A",
"B. Fund B",
"C. Fund C",
"D. Funds A and B (tied for highest)",
"E. Funds A and C (tied for highest)"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | <ans_image_1> | medium | multiple-choice | equity | english | 144 | 1 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
151 | english_145_1_r1 | nan | The following data are available relating to the performance of Sooner Stock Fund and the market portfolio: <image_1> The risk-free return during the sample period was 3%. What is the Sharpe measure of performance evaluation for Sooner Stock Fund? | [
"A. 1.33%",
"B. 4.00%",
"C. 8.67%",
"D. 38.6%",
"E. 37.14%"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | D | <ans_image_1> | easy | multiple-choice | equity | english | 145 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
152 | english_146_1_r1 | nan | The following data are available relating to the performance of Sooner Stock Fund and the market portfolio: <image_1> The risk-free return during the sample period was 3%. What is the Treynor measure of performance evaluation for Sooner Stock Fund? | [
"A. 1.33%",
"B. 4.00%",
"C. 8.67%",
"D. 9.44%",
"E. 37.14%"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | D | <ans_image_1> | easy | multiple-choice | equity | english | 146 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
153 | english_147_1_r1 | nan | The following data are available relating to the performance of Sooner Stock Fund and the market portfolio: <image_1> The risk-free return during the sample period was 3%. Calculate the Jensen measure of performance evaluation for Sooner Stock Fund. | [
"A. 2.6%",
"B. 4.00%",
"C. 8.67%",
"D. 31.43%",
"E. 37.14%"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | <ans_image_1> | easy | multiple-choice | equity | english | 147 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
154 | english_148_1_r1 | nan | The following data are available relating to the performance of Sooner Stock Fund and the market portfolio: <image_1> The risk-free return during the sample period was 3%. Calculate the information ratio for Sooner Stock Fund. | [
"A. 1.53",
"B. 1.30",
"C. 8.67",
"D. 31.43",
"E. 37.14"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | <ans_image_1> | easy | multiple-choice | equity | english | 148 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
155 | english_149_1_r1 | nan | The following data are available relating to the performance of Monarch Stock Fund and the market portfolio: <image_1> The risk-free return during the sample period was 4%. What is the information ratio measure of performance evaluation for Monarch Stock Fund? | [
"A. 1.00%",
"B. 280.00%",
"C. 44.00%",
"D. 50.00%",
"E. None of the options are correct"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | <ans_image_1> | easy | multiple-choice | equity | english | 149 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
156 | english_150_1_r1 | nan | The following data are available relating to the performance of Monarch Stock Fund and the market portfolio: <image_1> The risk-free return during the sample period was 4%. Calculate Sharpe's measure of performance for Monarch Stock Fund. | [
"A. 1%",
"B. 46%",
"C. 44%",
"D. 50%",
"E. None of the options are correct"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | (16-4)/26 = .46 | easy | multiple-choice | equity | english | 150 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |
157 | english_151_1_r1 | Andrei Zubov is a portfolio manager for Greenhill Trust based in Connecticut. Greenhill provides a range of wealth advisory and institutional client services. Zubov is preparing to meet with three new clients.CHM Corporation is a US based company that manufactures sports equipment. The company’s employees participate i... | Is Zubov’s response to Zola regarding the return objective most likely correct? | [
"A. No, he is incorrect with regard to future pension contributions.",
"B. Yes",
"C. No, he is incorrect with regard to future pension income."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | B is correct. The plan is fully funded with a surplus of $25 million and has minimal liquidity needs. Thus risk tolerance may be characterized as being above average. This justifies a more aggressive return objective in excess of the liability discount rate of 5% by up to 100 basis points. Furthermore, this desired ret... | medium | multiple-choice | portfolio management | english | 151 | 1 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |
158 | english_151_2_r1 | nan | Based on information provided by Zola, a higher risk tolerance for GIC Products Pension Plan is least likely supported by: | [
"A. Zola’s proposed modification to the current pension plan.",
"B. earnings expectations for the company.",
"C. the debt to total asset ratio."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | A is correct. Zola would like GIC to introduce an early retirement provision that allows for lump-sum distributions. This increases immediate liquidity requirements and reduces the level of risk tolerance. In contrast, the company’s expected growth in earnings and the low debt to total asset ratio imply a higher risk t... | medium | multiple-choice | portfolio management | english | 151 | 2 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
159 | english_152_1_r1 | Martin Standish is an economic analyst with Exeter Asset Management, a British firm that specializes in global funds for institutional investors, most of whom are based in the United Kingdom. Standish is identifying potential countries and asset classes to include in a developed markets fund that Exeter intends to intr... | Based on the data provided in Exhibit 1, which country is most likely to show economic growth in the next several quarters? | [
"A. Switzerland",
"B. Sweden",
"C. Czech Republic"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | C is correct: The Czech Republic shows a marked decline in the inventory/sales ratio. When the inventory/sales ratio decreases over time, the economy is likely to be strong in the next few quarters as businesses try to rebuild inventory. <ans_image_1> | medium | multiple-choice | economics | english | 152 | 1 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
160 | english_152_2_r1 | nan | Based on Exhibit 2 and her proposed forecasting model, the most accurate prediction that Jones can make about the THB/GBP exchange rate in five years is: | [
"A. THB 55.7674 per GBP",
"B. THB 47.1928 per GBP",
"C. THB 52.2523 per GBP"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | A is correct. According to purchasing power parity (PPP), the movement in the exchange rate should offset any difference in the inflation rates between the two countries. Accordingly, the THB/GBP exchange rate in five years is predicted to be: <ans_image_1> | hard | multiple-choice | economics | english | 152 | 2 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
161 | english_152_3_r1 | nan | Of Kumar’s three points regarding interest rate linkages between countries proposed for the new fund, she is least likely correct with respect to bond yields in: | [
"A. Chile.",
"B. Denmark.",
"C. Singapore and Sweden."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | B is correct: Kumar’s second point regarding Danish bonds is incorrect. When two currencies are pegged or linked, the bond yields of the country with the weaker currency are nearly always higher unless the market is confident that the government will maintain the peg. Kumar stated that because Denmark’s currency may no... | medium | multiple-choice | economics | english | 152 | 3 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
162 | english_153_1_r1 | Goldsboro Partners, an investment management firm, intends to offer more products invested in equities traded on the Singapore Exchange (SGX).
Goldsboro is developing the Goldsboro Singapore Index (GSI); a proprietary index of Singapore equities comprised of five stocks traded on the SGX with the largest market capital... | Based on Exhibit 1, for the year 2009, assuming no stock splits or stock dividends for the stock components and no rebalancing, which of these index structures would have most likely resulted in the largest return for the GSI | [
"A. A price-weighted index",
"B. A value-weighted index",
"C. An equal-weighted index"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | B is correct because this weighting methodology produced the largest return of 13.5% for the GSI. The return on a value-weighted index is the percentage change in the total market capitalization of the firms in the index. | hard | multiple-choice | equity | english | 153 | 1 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||||
163 | english_153_2_r1 | nan | According to the information provided in Exhibit 2, Fund GB1 is best characterized as having what equity style | [
"A. Value",
"B. Growth",
"C. Market oriented"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | C is correct because a market oriented equity style is one that is neither value nor growth. Fund GB1 has characteristics that are almost identical to the broader STI index. While two (dividend yield and P/E) of the four reported characteristics lean slightly toward a growth style, the other two (P/B, projected EPS gro... | hard | multiple-choice | equity | english | 153 | 2 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
164 | english_153_3_r1 | nan | Goldsboro’s Fund GB2 would appeal to an investor who is most closely focused on: | [
"A. relative strength.",
"B. earnings momentum.",
"C. price relative to intrinsic value."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | C is correct because Fund GB2 follows a value style (higher dividend yield, lower P/E, P/B, and earnings growth). Value investors are focused on price relative too intrinsic value. | medium | multiple-choice | equity | english | 153 | 3 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
165 | english_153_4_r1 | nan | The characterization of Briggs’ investment as following a core-satellite approach is most likely | [
"A. correct.",
"B. incorrect, because too little of the portfolio was passively invested.",
"C. incorrect, because the funds invested in are benchmarked against the wrong index."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | A is correct. Fund GB-STI3 has an expected alpha and expected tracking error of 0% and can therefore be characterized as an index fund. 20% of the investment was placed in this fund, creating a core, with the remainder invested in non-index funds creating a satellite. A small core allocation might be indicative of a hi... | hard | multiple-choice | equity | english | 153 | 4 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
166 | english_153_5_r1 | nan | During 2009, the “misfit” active return earned by Brigg’s investments was closest to: | [
"A. 0.3%",
"B. 0.4%",
"C. 0.7%"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | A is correct because “misfit” active return is equal to the return of the manager’s normal benchmark minus the return of the investor’s benchmark. 0.3% = 12% – 11.7%, where 12% is the return on the STI index fund and 11.7% is the return on the MSCI Singapore Free Index. | hard | multiple-choice | equity | english | 153 | 5 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
167 | english_154_1_r1 | Donna Everitt is a financial advisor at Mountainview Investment Counsel (MIC). Early Tuesday morning, she meets with a new client, Marjorie Sunnydale, to understand her financial history and objectives. Everitt mentions that she will be preparing an investment policy statement (IPS) for her. Marjorie says that one was ... | Everitt’s least accurate response to Marjorie’s first question would be that it: | [
"A. summarizes the circumstances and constraints that govern the relationship between the advisor and client.",
"B. ensures that both the advisor and underlying fund managers bear a duty of loyalty to the client.",
"C. provides protection for both the advisor and client if management practices are subsequently ... | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | screenshot | B | B is correct. Ensuring that both the advisor and underlying fund managers bear a duty of loyalty to the client.is not a valid benefit of preparing an IPS. The advisor alone is bound by a duty of loyalty to a particular client. Any portfolio managers employed are bound to manage the fund according to the investment poli... | medium | multiple-choice | portfolio management | english | 154 | 1 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
168 | english_154_2_r1 | nan | Everitt’s conclusion about Marjorie’s risk tolerance, after compiling Exhibit 1, is most likely based on her: | [
"A. level of wealth.",
"B. source of wealth.",
"C. stage of life."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | screenshot | C | C is correct. Situational profiling attempts to categorize individual investor characteristics by stage of life or by economic circumstances. At age 59, Marjorie is primarily in the maintenance phase in the life-stage classification, approaching retirement. This phase focuses on preserving accumulated wealth and risk t... | hard | multiple-choice | portfolio management | english | 154 | 2 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
169 | english_154_3_r1 | nan | If Marjorie accepts King’s offer from the previous Friday for an immediate purchase of 30% of her shares, based on the information provided in Exhibit 1, the amount by which her current liquidity requirements will be exceeded is closest to: | [
"A. $907,000",
"B. $607,000",
"C. $457,000"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | chart | C | C is correct. | hard | multiple-choice | portfolio management | english | 154 | 3 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
170 | english_154_4_r1 | nan | Based on Exhibit 1, which of the statements in the Gardiner-Parkway IPS prepared for Marjorie is most appropriate? The statement regarding: | [
"A. Her time horizon.",
"B. the Westmeyer investment.",
"C. the planned donation."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | screenshot | B | B is correct. The Westmeyer shares provide tax deferral benefits, as no taxes are to be paid until disposal; in addition, there are tax reduction benefits: no dividends are paid, and taxes on dividends are higher than that of capital gains. | hard | multiple-choice | portfolio management | english | 154 | 4 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
171 | english_154_5_r1 | nan | Based on Everitt’s revised return requirements, the summary statistics in Exhibit 2, and Marjorie’s stated preferences, which is the most appropriate asset allocation to meet her needs? | [
"A. 3",
"B. 1",
"C. 2"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | screenshot | A | A is correct. All three of the asset allocations meet the real after-tax return of 5% which Everitt has suggested is required. Marjorie has also stated a shortfall risk restriction, (shortfall in real after-tax terms not to exceed –12% in any year), and this is achieved only by asset allocation 3 | hard | multiple-choice | portfolio management | english | 154 | 5 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
172 | english_155_1_r1 | Val Mishum is a senior manager at Stone Bancorp, Inc. She, and two of her colleagues, Peg Todd and Nat Filbert, have just joined the in-house pension investment committee which oversees the investment process for Stone’s defined-benefit plan. As a team, they will help the investment committee measure overall return, co... | In the team’s discussion of the overall rates of return calculated from Exhibit 1, the most accurate statement is made by: | [
"A. Filbert",
"B. Mishum",
"C. Todd"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | C is correct. Todd’s statement is correct. The contribution occurred at an opportune time which causes the calculation for the MWR return to be greater than the TWR return. The initial sub-period of January 1 to April 20 has a negative return, but the period from April 21 through December 31 has a positive return. Buyi... | easy | multiple-choice | portfolio management | english | 155 | 1 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | |||
173 | english_155_2_r1 | nan | Based on Exhibit 2, the manager that Todd is most impressed with is: | [
"A. Buck Growth",
"B. Doe Value",
"C. Fawn Small-Cap"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | screenshot | A | A is correct. An investment which is “out of style” is indicated when its Style index (S) is negative; this occurs when the market index (M) outperforms the benchmark (B): S = (B – M) < 0. Using the data in Exhibit 2, the decomposition of the return into components for each manager is indicated in the table below. Both... | hard | multiple-choice | portfolio management | english | 155 | 2 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
174 | english_155_3_r1 | nan | Following Stone’s merger and the resultant changes in its pension plan, which team member best describes a returns-based benchmark? | [
"A. Todd",
"B. Filbert",
"C. Mishum"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | B is correct. Filbert describes a returns-based benchmark. To create a returns-based benchmark using Sharpe style analysis, an optimization procedure is used in which the portfolio’s sensitivities are forced to be non-negative and sum to 1. Todd describes an absolute return benchmark. Mishum describes a liability-based... | hard | multiple-choice | portfolio management | english | 155 | 3 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
175 | english_155_4_r1 | nan | Following Stone’s merger and the resultant changes to its pension plan, which team member describes the most appropriate new benchmark? | [
"A. Todd",
"B. Mishum",
"C. Filbert"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | B is correct. Mishum selects a custom liability-based benchmark which is more appropriate for the terminated pension than the benchmarks described by either Todd or Filbert. The primary feature of the liability-based benchmark is the duration comment which matches the needs identified by the sponsor. The cash liquidity... | medium | multiple-choice | portfolio management | english | 155 | 4 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
176 | english_156_1_r1 | London-based Kingsbridge Partners has been selected to manage a GBP150 million global bond portfolio for a pension fund. Jonathan Bixby, Kingsbridge’s portfolio manager, meets with Iain Seymour, a fixed income analyst at the firm to review the portfolio and its holdings relative to the client’s objectives.
The pension ... | Based on the data in Exhibit 1, the duration of equity in the leveraged portfolio is closest to: | [
"A. 4.50",
"B. 5.00",
"C. 10.00"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | C is correct. Kingsbridge can leverage the GBP150 million portfolio by 100% by borrowing an additional GBP150 million. <ans_image_1> | easy | multiple-choice | fixed income | english | 156 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||||||
177 | english_156_2_r1 | nan | Given Bixby’s new target duration and the data in Exhibits 1 and 2, the most appropriate action using Treasury futures is to sell: | [
"A. 646 contracts.",
"B. 789 contracts.",
"C. 811 contracts."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | C is correct. To hedge against rising rates, Bixby needs to reduce duration by selling the following number of Treasury futures contracts: <ans_image_2> | easy | multiple-choice | fixed income | english | 156 | 2 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
178 | english_156_3_r1 | nan | Which of Seymour’s comments regarding alternative ways to alter the portfolio’s duration is most likely correct? The comment regarding: | [
"A. interest rate swaps.",
"B. a protective put.",
"C. the covered call."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | B | hard | multiple-choice | fixed income | english | 156 | 3 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
179 | english_156_4_r1 | nan | Based on Seymour’s statement regarding international interest rates, as well as the data in Exhibit 3, the impact of a 100-basis-point decline in US interest rates on the model portfolio's value is closest to: | [
"A. 3.41%",
"B. 4.02%",
"C. 4.93%"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | C is correct because the UScomponent contributes 3.96 in duration to the portfolio (0.60 × 6.6 = 3.96); therefore, a 1.00 change will contribute ±3.96% to the value of the portfolio. The German component has a contribution to duration of 1.56 (0.4 × 3.9 = 1.56) but moves only 0.62 times the movement in US rates, thus c... | hard | multiple-choice | fixed income | english | 156 | 4 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
180 | english_156_5_r1 | nan | Based on the data in Exhibit 4, the most likely action that Kingsbridge would take to actively manage the portfolio’s currency exposure in the currency forward markets is to sell: | [
"A. USD and buy EUR.",
"B. EUR and buy USD.",
"C. USD, sell EUR, and buy GBP."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | B is correct. The forward rates for both USD and EUR fully reflect the interest rate differentials as expected by interest rate parity. As such, forwards reflect that USD is expected to appreciate relative to GBP and EUR to depreciate relative to GBP. Kingsbridge’s view, however, is that USD will appreciate more than t... | hard | multiple-choice | fixed income | english | 156 | 5 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
181 | english_156_6_r1 | nan | Seymour is least likely correct with respect to which risk regarding investing in emerging market debt? | [
"A. Risk 3",
"B. Risk 2",
"C. Risk 1"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | A is correct because this statement is incorrect, Emerging market countries in fact have access to lenders on the world stage, such as the International Monetary Fund and the World Bank. | medium | multiple-choice | fixed income | english | 156 | 6 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
182 | english_157_1_r1 | William Gatchell, is an investment analyst with the Sonera Endowment Fund. Sonera is considering hiring a new equity investment manager. In preparation, Gatchell meets with Anjou Lafite, another analyst at the fund, to review a relevant part of the endowment’s investment policy statement:
“Funds will be invested in the... | Based on Exhibit 1, which investment manager most likely meets the criteria established in the endowment's investment policy statement? | [
"A. Manager A",
"B. Manager B",
"C. Manager C"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | B is correct because manager B has a positive information ratio, demonstrating that he has been able to deliver active returns relative to his level of tracking error. Manager B’s investment style is consistent with a value investment style, with a higher beta for the two value indices, the small-cap value index and th... | medium | multiple-choice | equity | english | 157 | 1 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||
183 | english_157_2_r1 | nan | Based on Exhibit 1, is there sufficient information for Gatchell to create and interpret the results of a style box? | [
"A. Yes",
"B. No, because additional index data are required",
"C. No, because additional holdings data are required"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | C is correct because holdings data are required to create a style box and interpret the results. Gatchell is given the styles and the assets under management but not each individual investment or holding that each investment manager has selected. | medium | multiple-choice | equity | english | 157 | 2 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
184 | english_157_3_r1 | nan | Which fee structure is most appropriate for Sonera based on the criteria in the investment policy statement | [
"A. An ad valorem fee structure",
"B. performance-based fee structure with a fee cap",
"C. performance-based fee structure with a high water mark"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | A | A is correct because ad valorem fee structures are both simple and predictable. The ad valorem fee structure is calculated by multiplying the value of the assets by a percentage. | medium | multiple-choice | equity | english | 157 | 3 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
185 | english_157_4_r1 | nan | If the investment policy committee decides to accept Gatchell’s recommendation to also use passive investing, the index structure that least likely meets Gatchell’s requirement is: | [
"A. a price-weighted index.",
"B. a value-weighted index.",
"C. an equal-weighted index."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | C is correct because an equal-weighted index is biased towards small-capitalization stocks. | medium | multiple-choice | equity | english | 157 | 4 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
186 | english_157_5_r1 | nan | In his statement to Lafite, Gatchell is least likely correct with respect to: | [
"A. cost.",
"B. redemption.",
"C. periodic rollover."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | B | B is correct. Gatchell is correct that stock index futures and equity swaps are low-cost alternatives to equity index mutual funds. He is also correct that a drawback of stock index futures is they have to be rolled over periodically. He is incorrect about the pricing of mutual funds: They are priced once daily. | hard | multiple-choice | equity | english | 157 | 5 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
187 | english_157_6_r1 | nan | Is Gatchell’s statement regarding true active return and misfit active return correct? | [
"A. Yes",
"B. No, he is incorrect about true active return",
"C. No, he is incorrect about misfit active return"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | table | C | C is correct because the definition of misfit active return is incorrect. Misfit active return is the difference between the normal benchmark and the investor’s benchmark. | hard | multiple-choice | equity | english | 157 | 6 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
188 | english_158_1_r1 | Nadia Ahmed is the head trader for Tweed Asset Management (Tweed) based in London, England. She is reviewing some of the trade requests the desk has received from its personal and institutional portfolio managers and is deciding on what tactics to recommend.
Ahmed starts by reviewing the trade requests from one of Twee... | The share-volume-weighted effective spread for the purchases of BDF is closest to: | [
"A. £0.10.",
"B. £0.08.",
"C. £0.04."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | screenshot | B | B is correct. <ans_image_1> <ans_image_2> | easy | multiple-choice | portfolio management | english | 158 | 1 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||||||
189 | english_158_2_r1 | nan | Using the information in Exhibits 1 and 2, which of the following statements about the execution of the trade for BDF is most accurate? | [
"A. The price movement for the first trade resulted in an effective spread higher than the quoted spread.",
"B. The trader should have been able to fill the order completely with Dealer B.",
"C. The price movement for the first trade was favorable for Tweed’s trader."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | screenshot | C | C is correct. The first trade at 11:15:09 was executed for 1,500 shares at £15.46 (Exhibit 2) when the ask was £15.48 (Exhibit 1), therefore Tweed’s trader was able to purchase the shares for less than the ask which is a favorable price movement for the trader. | hard | multiple-choice | portfolio management | english | 158 | 2 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
190 | english_158_3_r1 | nan | The strategy Ahmed will most likely recommend in executing the purchase order for WWT is a(n): | [
"A. principal trade.",
"B. market on open order.",
"C. iceberg order."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | screenshot | C | C is correct. Because the order represents a substantial portion of the daily volume of WWT (450,000 shares, see Exhibit 2) and could affect the price, which is important to the client, Moore would most likely use an iceberg order. An iceberg order is a limit order with instructions to show only a portion of the order ... | medium | multiple-choice | portfolio management | english | 158 | 3 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
191 | english_158_4_r1 | nan | The implementation shortfall, in basis points, on the purchase of the JAK shares is closest to: | [
"A. 360",
"B. 386",
"C. 332"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | screenshot | B | B is correct. The implementation shortfall is the difference between the money return on a paper portfolio based on the benchmark or decision price ($25.50 in Exhibit 3) and the actual portfolio’s money return. <ans_image_3> | hard | multiple-choice | portfolio management | english | 158 | 4 | 1 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
192 | english_158_5_r1 | nan | Moore’s statement about assessing the trader’s performance is best described as: | [
"A. incorrect, as only commission costs should be included.",
"B. correct.",
"C. incorrect, as delay costs should also be included."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | screenshot | A | A is correct. Moore’s statement is incorrect, only explicit costs such as the £135 commission cost should be included in assessing the trader’s performance. The missed trading opportunity cost is also a result of market movement. | hard | multiple-choice | portfolio management | english | 158 | 5 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
193 | english_159_1_r1 | Kate Baker is in charge of assessing investment managers hired by KTB Funds. KTB states its investment strategy as being adept at investing in undervalued securities in equity and debt markets. Baker is assisted by Trent Coates and Gerry Manders. The group are examining the performance (Exhibit 1) of three managers who... | In assessing the equity manager’s performance relative to KTB’s investment strategy, the metric that is most useful is: | [
"A. with-in sector selection return.",
"B. pure sector allocation return.",
"C. the excess return of the portfolio over its benchmark."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | screenshot | A | A is correct. KTB’s equity strategy is to identify undervalued securities. A given manager will be consistent with this investment strategy if the within-sector selection return represents a large portion of the incremental return of the portfolio over its benchmark. | easy | multiple-choice | portfolio management | english | 159 | 1 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||||
194 | english_159_2_r1 | nan | The most appropriate criteria suggested by Coates for a custom security-based benchmark for the small-cap fund is: | [
"A. 1",
"B. 2",
"C. 3"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | screenshot | B | B is correct. Including a weight for a cash position, criteria 2, should be part of a custom benchmark. Broadly representing the small-cap market, criteria 1, and market capitalization weighted, criteria 3, may not be consistent with the small-cap manager’s approach. | hard | multiple-choice | portfolio management | english | 159 | 2 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
195 | english_159_3_r1 | nan | Based on the information in Exhibit 2 and the criteria for active return, which of the following measures most likely indicates that the large-cap manager is skillful? | [
"A. Sharpe ratio",
"B. Treynor measure",
"C. Information ratio"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | screenshot | B | B is correct. <ans_image_1> | hard | multiple-choice | portfolio management | english | 159 | 3 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
196 | english_159_4_r1 | nan | Manders’ most accurate statement in regard to a performance quality control chart is the: | [
"A. three criteria necessary for analysis.",
"B. description of the confidence band through time.",
"C. skillful manager performance relative to the confidence band."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | screenshot | A | A is correct. Manders is correct in his statement about the three criteria for analysis using a performance quality control chart. The other two points are incorrect. The width of the confidence band depends on the standard deviation of value-added returns, as time passes, the confidence band will narrow rather than wi... | medium | multiple-choice | portfolio management | english | 159 | 4 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
197 | english_159_5_r1 | nan | Based on Exhibit 3, the bond fund that is most consistent with KTB’s investment strategy is: | [
"A. TQZ.",
"B. MKK.",
"C. BCM."
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | screenshot | B | B is correct. The incremental return due to the management process is measured by the difference between the total return for each fund and the benchmark. To assess the success of a particular investment strategy, analyze the components of the incremental return. For the strategy of investing in undervalued securities ... | medium | multiple-choice | portfolio management | english | 159 | 5 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
198 | english_160_1_r1 | Edvard Richards is president and sole owner of More Than Lumber Corporation (MTL), a privately held building materials company. Founded by the Richards family, the company has been run by Edvard Richards for over 40 years. Richards also owns investment real estate in the form of a warehouse unrelated to MTL, as well as... | Using the planning framework that Richards suggests, which person's estimate of the after-tax primary capital is most accurate | [
"A. Boshe",
"B. Adams",
"C. Richards"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | screenshot | B | Answer = B
. Primary capital is the sum of assets that fall into the personal and market risk buckets. It includes the residence, municipal bond portfolio, global equity fund and cash equivalents. It excludes the values of MTL and the concentrated positions in CTAS public stock and the warehouse (investment real estate... | easy | multiple-choice | portfolio management | english | 160 | 1 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic | ||||
199 | english_160_2_r1 | nan | Richards's understanding about monetizing CTAS is most accurate with respect to | [
"A. the risk exposure of both strategies.",
"B. using the CTAS dividends to offset borrowing costs.",
"C. avoiding immediate capital gains under both strategies"
] | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | screenshot | C | Answer = C . Richards’s understanding about avoiding immediate capital gains is correct. The short sale against the box approach defers capital gains. No sale of stock occurs in establishing the collar. The short against the box strategy is riskless, whereas the collar does carry risk within the range between the exerc... | easy | multiple-choice | portfolio management | english | 160 | 2 | 0 | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | Not supported with pagination yet | release_basic |
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