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Test Prep CFA-Level-I Exam Questions
CFA® Level I Chartered Financial Analyst (Page 115 )

Updated On: 24-Feb-2026
Page 115 of 793
PDF with 3963 Questions

Suppose you need $1,500 in 15 months. How much must you deposit today, if the deposit will earn interest at 8% per year, compounded monthly?

  1. $472.86
  2. $1,249.93
  3. $1,357.71
  4. $291.77
  5. $341.55

Answer(s): C

Explanation:

On the BAII Plus, press 15 N, 8 divide 12 = I/Y, 0 PMT, 1500 FV, CPT PV. On the HP12C, press 15 n, 8 ENTER 12 divide i, 0 PMT, 1500 FV, PV. Make sure the BAII Plus has the P/Y value set to 1.



Where does the coefficient of variation (CV) generally lie between?

  1. -1 and +1
  2. -3 and +3
  3. None of these answers
  4. 0% and infinity
  5. Unlimited values

Answer(s): D

Explanation:

CV always lies between 0% and infinity. The larger the CV, the larger the dispersion.



What deposit would you need to make today in order to withdraw $200 a month, beginning next month, for the next 5 years, if the deposit will accrue interest at 8% per year, compounded monthly?

  1. $7,237.66
  2. $9,863.69
  3. $11,492.59
  4. $8,399.27
  5. $9,141.23

Answer(s): B

Explanation:

On the BAII Plus, press 60 N, 8 divide 12 = I/Y, 200 PMT, 0 FV, CPT PV. On the HP12C, press 60 n, 8 ENTER 12 divide i, 200 PMT, 0 FV, PV. The answer will be displayed as a negative number. Make sure the BAII Plus has the value of P/Y set to 1.



A survey of 144 retail stores revealed that a particular brand and model of a VCR retails for $375 with a standard deviation of $20.

If 95% and 98% confidence intervals are developed to estimate the true cost of the VCR, what difference would they have?

  1. Interval widths
  2. Z-variates
  3. None of these answers
  4. Both interval widths and z-variates
  5. Standard errors

Answer(s): D

Explanation:

The interval widths and the z variates differ according to the rule chosen. The standard error is the same regardless.



What is a Type II error?

  1. Rejecting a false alternative hypothesis
  2. Accepting a false null hypothesis
  3. None of these answers
  4. Accepting a false alternative hypothesis
  5. Rejecting a false null hypothesis

Answer(s): B

Explanation:

The type II error is accepting the null hypothesis when it is actually false.






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