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Test Prep CFA-Level-I Exam Questions
CFA® Level I Chartered Financial Analyst (Page 106 )

Updated On: 24-Feb-2026
Page 106 of 793
PDF with 3963 Questions

Affirmative action commitments by industrial organizations have led to an increase in the number of women in executive positions. Satellite Office Systems has vacancies for two executives, which it will fill from among four women and six men. What is the probability that no woman is selected?

  1. None of these answers
  2. 2/15
  3. 1/3
  4. 8/15
  5. 1/5

Answer(s): C

Explanation:

Probability of both positions being filled by men = 6/10*5/9 = 1/3.



Which measure of central tendency is found by arranging the data from low to high and selecting the middle value?

  1. Geometric mean
  2. Median
  3. None of these answers
  4. Mean
  5. Mode

Answer(s): B

Explanation:

This is exactly how the median is found. Make sure you know how to find the median in a frequency distribution also.



How much would an original deposit of $500 grow to be after 8 and a half years, if the deposit earns interest at 6.5% per year, compounded quarterly?

  1. $853.97
  2. $573.42
  3. $4,254.58
  4. $837.51
  5. $864.95

Answer(s): E

Explanation:

On the BAII Plus, press 500 PV, 0 PMT, 34 N, 6.5 divide 4 = I/Y, then press CPT FV. On the HP12C, press 500 PV, 0 PMT, 34 n, 6.5 ENTER 4 divide i, then press FV. Note that N = 34 quarters and the answer is displayed as a negative number. Make sure that the BAII Plus has the P/Y value set to 1.



The National Center for Health Statistics reported that of every 883 deaths in recent years, 24 resulted from an automobile accident, 182 from cancer and 333 from heart disease. Using the relative frequency approach, what is the probability that a particular death is due to an automobile accident?

  1. 182/883 or 0.206
  2. None of these answers
  3. 24/883 or 0.027
  4. 24/333 or 0.072
  5. 539/883 or 0.610

Answer(s): C

Explanation:

The probability is the number of automobile deaths divided by the total number of deaths.



You are examining a special group of 5 stock market indices. Of these 5, the returns were 4%, 8%, 12%, 16%, and 10%. What is the population standard deviation of this group of stock market indices?

  1. 10%.
  2. 4%.
  3. 0%.
  4. 16%.

Answer(s): B

Explanation:

The population standard deviation is the positive square root of the population variance. The population variance is equal to the sum of the squared differences between each population member and the population mean, divided by the number of items in the population. In this case, we have a mean of 10%. The first squared difference will be (4% - 10%)^2 = 0.0036. The others will be 0.0004, 0.0004, 0.0036, and 0. The sum of these squared differences is 0.008, and divided by 5, we get 0.0016 = 16%%. The square root of this gives us our population standard deviation of 4%.






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