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Test Prep CFA-Level-I Exam
CFA® Level I Chartered Financial Analyst (Page 140 )

Updated On: 15-Feb-2026
Page 140 of 793
PDF with 3963 Questions

A sample of the paramedical fees charged by clinics revealed these amounts: $55, $49, $50, $45, $52 and $55.
What is the median charge?

  1. None of these answers
  2. $51.00
  3. $47.50
  4. $52.00
  5. $55.00

Answer(s): B

Explanation:

Order them: 45,49,50,52,55,55. The median is therefore (50 + 52)/2 = 51



A sample of 10 observations is drawn from a population with mean 17. The mean of the observations equals 14.3 and the sample standard deviation equals 4.8. The sampling error in mean equals ________.

  1. 9.6
  2. -2.7
  3. 14.3
  4. 4.8

Answer(s): B

Explanation:

"Sampling error" refers to the difference between a sample statistic and the corresponding population parameter. In this case, the sampling error equals 14.3 - 17 = -2.7.



What is the present value today of these annual cash flows: $3,000, $2,000, $1,000? Assume the first cash flow occurs 1 year from today and an interest rate of 10% per year, compounded annually.

  1. $5,205.67
  2. $5,131.48
  3. $6,089.92
  4. $5,067.65
  5. $6,000.00

Answer(s): B

Explanation:

You could solve this question using 3 different compound interest problems, but it is easier to solve them using the calculator's cash flow functions. On the BAII Plus, press CF 2nd CLRWork 0 ENTER DownArrow 3000 ENTER DownArrow DownArrow 2000 ENTER DownArrow DownArrow 1000 ENTER DownArrow DownArrow 2nd Quit. Then press NPV 10 ENTER DownArrow CPT. On the HP12C, press these keys: 0 BlueShift CFo 3000 BlueShift CFj 2000 BlueShift CFj 1000 BlueShift CFj. Then press 10 i, YellowShift NPV. The "DownArrow" represents the downward-pointing arrow on the top row of the BAII Plus keyboard. Make sure that the BAII Plus has the P/Y value set to 1.



A stock has the following returns over 3 years: -10%, +15%, +25%. The annual geometric rate of return over the 3 years is ________.

  1. 19.36%
  2. 9.34%
  3. 10.15%
  4. 7.42%
  5. 13.31%
  6. 14.64%
  7. 12.21%
  8. 8.96%

Answer(s): H

Explanation:

The annual geometric rate of return equals [(1-10%)(1+15%)(1+25%)]^(1/3) - 1 = (0.9 * 1.15 * 1.25)^0.33 - 1 = 0.0896 = 8.96%



Monthly commissions of first-year insurance brokers are $1,270, $1,310, $1,680, $1,380, $1,410, $1,570, $1,180 and $1,420. These figures are referred to as:

  1. None of these answers
  2. Raw data
  3. Frequency distribution
  4. Ogive
  5. Histogram

Answer(s): B

Explanation:

Data or observations that have not been organized in any form are called raw data.






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