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Test Prep CFA-Level-I Exam Questions
CFA® Level I Chartered Financial Analyst (Page 99 )

Updated On: 24-Feb-2026
Page 99 of 793
PDF with 3963 Questions

You are faced with a counting problem in which you must choose k objects from n total objects. The order of choosing does not matter. The counting method you should use is:

  1. None of these answers is correct.
  2. The binomial formula.
  3. The multinomial formula.
  4. The multiplication rule.

Answer(s): B

Explanation:

The combination, or binomial formula, gives the number of ways that k objects can be chosen from n items, without regard to the order of choosing. The formula is n_C_k = (n choose k) = n! / [k! *(n-k)!].



In a statistical regression estimation, the R-square is found to be 39% and the slope coefficient is -0.3. The percentage of variance of the dependent variable not explained equals ________.

  1. 0.30
  2. 0.61
  3. 0.09
  4. 0.39

Answer(s): B

Explanation:

The R-square of the regression measures the amount of variance of the dependent variable explained by the independent variable. This is given to be 39%. Hence, the amount not explained equals 100% - 39% = 61%.



A bell-shaped, symmetrical frequency distribution has a mean of 10. If 16% of the observations in the distribution are negative, what is the coefficient of variation of X?

  1. 1.0
  2. 0.32
  3. 10.0
  4. 0.1

Answer(s): A

Explanation:

The fraction of observations which are less than zero equals 16% i.e. the fraction of observations which are less than (mean - 10) equals 16% (given). Since the distribution is symmetrical about the mean, this implies that the fraction of observations which are more than (mean + 10) also equals 16%. Thus, the fraction of the observations lying between 0 and 20 equals 1-0.16-0.16 = 0.68. For a bellshaped, symmetrical frequency distribution, 68% of the observations lie within one standard deviation of the mean. Hence, the standard deviation of the distribution equals 10. The coefficient of variation is then equal to standard deviation/mean = 10/10 = 1.



A population consists of all the weights of all defensive tackles on Sociable University's football team. They are:
Johnson, 204 pounds; Patrick, 215 pounds; Junior, 207 pounds; Kendron, 212 pounds; Nicko, 214 pounds; and Cochran, 208 pounds. What is the population standard deviation (in pounds)?

  1. About 4
  2. None of these answers
  3. About 40
  4. About 100
  5. About 16

Answer(s): A

Explanation:

Population variance = (Sum of squared deviation from the mean)/N. The mean is 210. Population variance = (36 + 25 + 9 + 4 + 16 + 4)/6 = 94/6 = 15.67. Population standard deviation is the square root of the population variance = 3.958.
xx-mean(x-mean)^2
204-636
215525
207-39
21224
214416
208-24



Which measure of dispersion disregards the algebraic signs (plus and minus) of each difference between X

and the mean?

  1. Standard deviation
  2. Variance
  3. Mean deviation
  4. Mean
  5. None of these answers

Answer(s): C

Explanation:

The mean deviation is the mean of the absolute values of the deviations from the mean.






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