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Free CFA-Level-I Exam Braindumps (page: 152)

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PDF with 3963 Questions

A random sample of 85 group leaders, supervisors, and similar personnel revealed that on the average a person spent 6.5 years on the job before being promoted. The standard deviation of the sample was 1.7 years. Using the 0.95 degree of confidence, what is the confidence interval within which the population mean lies?

  1. 6.99 and 7.99
  2. 6.49 and 7.49
  3. None of these answers
  4. 4.15 and 7.15
  5. 6.14 and 6.86

Answer(s): E

Explanation:

Interval estimate can be found from x_bar +/-z*s/(n^0.5). Here we have n = 85, x_bar = 6.5 and z = 1.96 (for 95%) and s = 1.7. Therefore 6.5+/-1.96*1.7/9.22 and we get 6.14 and 6.86.



You are examining a group of 20 mutual funds. You find that 10 have a 5% cash position, 4 have a 10% cash position, and 6 have a 2% cash position. What is the weighted average cash position of these 20 mutual funds?

  1. 4.80%.
  2. 5.10%.
  3. 5.00%.
  4. 4.90%.

Answer(s): B

Explanation:

A weighted-average is equal to the sum (as i goes from 1 to n) of w_i * X_i, where w_i is the percentage weight of the ith item, and X_i is the value of the ith item. Here, we get a weighted mean of 10/20 * 0.05 + 4/20 * 0.10 + 6/20 * 0.02 = 5.10%.



What is the critical z-value for a one tailed lower test at the 1% level of risk?

  1. + 2.58
  2. +2.33
  3. -2.58
  4. None of these answers
  5. -2.33

Answer(s): E

Explanation:

This is found by subtracting the 0.01 from 0.5 and then finding the z-value for 0.49.



What is the annual Internal Rate of Return of this series of annual cash flows: Year 0: <$15,000>, Year 1:
$2,000, Year 2: $0, Year 3: $15,000, Year 4 to indicate a negative number).

  1. 25.29%
  2. 18.91%
  3. 30.04%
  4. 22.49%
  5. 25.42%

Answer(s): E

Explanation:

On the BAII Plus, press CF 2nd CLRWork 15000 +/- ENTER DownArrow 2000 ENTER DownArrow DownArrow 0 ENTER DownArrow DownArrow 15000 ENTER DownArrow DownArrow 0 ENTER DownArrow DownArrow 18000 ENTER DownArrow DownArrow 2nd Quit. Then press Irr CPT. On the HP12C, press these keys: 15000 CHS BlueShift CFo 2000 BlueShift CFj 0 BlueShift CFj 15000
BlueShift CFj 0 BlueShift CFj 18000 BlueShift CFj. Then press YellowShift Irr. The "DownArrow" represents the downward-pointing arrow on the top row of the BAII Plus keyboard. Make sure the BAII Plus has the P/Y value set to 1.






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