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Test Prep CFA-Level-I Exam Questions
CFA® Level I Chartered Financial Analyst (Page 137 )

Updated On: 24-Feb-2026
Page 137 of 793
PDF with 3963 Questions

If you deposit $6,000 into an account paying 4% per year, compounded semiannually, how much do you have in the account in 20 years?

  1. $13,248.24
  2. $12,667.70
  3. $14,667.76
  4. $7,403.52
  5. $12,204.65

Answer(s): A

Explanation:

On the BAII Plus, press 40 N, 4 divide 2 = I/Y, 6000 PV, 0 PMT, CPT FV. On the HP12C, press 40 n, 4 ENTER 2 divide i, 6000 PV, 0 PMT, FV. Note that the answer will be displayed as a negative number. Make sure the BAII Plus has the value of P/Y set to 1.



What disadvantage(s) are there of the mean deviation?

  1. None of these answers.
  2. It is based on only two observations.
  3. It is based on deviations from the mean.
  4. All of these answers.
  5. It uses absolute values, which are difficult to manipulate.

Answer(s): E

Explanation:

Using absolute values can cause problems since they are difficult to work with.



In a stratified random sampling method,

  1. a sample is selected by randomly generating an integer, N, and selecting every Nth member of the population.
  2. a sample is selected by first dividing the population into groups and then selecting members from each group.
  3. a sample is selected by drawing numbers from a normal probability distribution.
  4. a sample selected such that every member of the population has the same chance of being selected.

Answer(s): B

Explanation:

The population is divided into strata or subcategories and a sample is randomly selected from each strata.



Ten experts rated a newly developed chocolate chip cookie on a scale of 1 to 50. Their ratings were: 34, 35, 41, 28, 26, 29, 32, 36, 38 and 40. What is the mean deviation?

  1. 12.67
  2. 4.12
  3. 0.75
  4. 8.00
  5. None of these answers

Answer(s): B

Explanation:

The mean is 33.9. The mean deviation is the absolute values of the deviation from the mean. (0.1 + 1.1 + 7.1 + 5.9 + 7.9 + 4.9 + 1.9 + 2.1 + 4.1 + 6.1)/10 = 41.2/10 = 4.12



Which of the following are formulas for sample variance?

  1. [1/(n-1)] * sum (as i goes from 1 to n) of (X_i - Xbar)^2.
    II. [1/n] * sum (as i goes from 1 to n) of (X_i - Xbar)^2.
    III. [1/(n-1)] * {sum (as i goes from 1 to n) of (X_i)^2 - (1/n) * [sum (as i goes from 1 to n) of (X_i)]^2}.
  2. I only.
  3. None of these answers is correct.
  4. III only.
  5. II only.

Answer(s): B

Explanation:

I and III are equivalent and correct; III is the computational formula for sample variance.






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