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Free CFA-Level-I Exam Braindumps (page: 299)

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PDF with 3963 Questions

A selected group of employees of Unique Buying Services is to be surveyed with respect to a new pension plan. In depth interviews are to be conducted with each employee selected in the sample. The employees are classified as follows.
Classification Event Number of Employees
Supervisors A 120
Maintenance B 50
Production C 1,460
Management D 302
Secretarial E 68
What is the probability that the first person selected is in management AND in supervision?

  1. 0.00
  2. None of these answers
  3. 0.15
  4. 0.21
  5. 0.06

Answer(s): A

Explanation:

There are 2000 employees of which 302 are in management and 120 in supervision. However, there are no employees who are in both management and supervision. Therefore the probability is 0.



What is the annual Internal Rate of Return of this series of annual cash flows: Year 0: <$25,000>, Year 1:
$5,000, Year 2: $0, Year 3: $30,000? (Note that the <> are used to indicate a negative number).

  1. 6.21%
  2. 15.15%
  3. 14.34%
  4. 13.37%
  5. 12.12%

Answer(s): D

Explanation:

On the BAII Plus, press CF 2nd CLRWork 25000 +/- ENTER DownArrow 5000 ENTER DownArrow DownArrow 0 ENTER DownArrow DownArrow 30000 ENTER DownArrow DownArrow 2nd Quit. Then press Irr CPT. On the HP12C, press these keys: 25000 CHS BlueShift CFo 5000 BlueShift CFj 0 BlueShift CFj 30000 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.



When a researcher uses the classes 129-147, 147-165, 165-183 to create a distribution, he is violating which of the following suggested practices?

  1. Avoid a use of non-standard class marks.
  2. Avoid a use of open-ended classes.
  3. Avoid a use of uneven classes.
  4. Avoid a use of overlapping classes.

Answer(s): D

Explanation:

The classes are overlapping (for e.g., the classes "147-165" and "165-183" have the point "165" in common).
There are no open-ended classes and the classes have the same class interval. Note that "Avoid a use of non- standard class marks" is a bogus choice; there is no such suggested practice.



Your distant uncle's will specifies that you will receive a 20-year annuity of $10,000 a year, the payments starting seven years from now. How much is the annuity worth to you today if your discount rate is 4% per year?

  1. $107,406
  2. $135,903
  3. $122,321
  4. $110,911

Answer(s): A

Explanation:

The payments start at the end of 7 years. Thus, at the end of year 6, the annuity will be worth 10,000/0.04*(1-1/ (1.04^20)) = 135,903. The present value of this amount is 135,903/(1.04^6) = 107,406.






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