schweser notes cfa 2013 level 1 download

... Year Year ( 14 .2 - 10 6.5) I 10 6.5 = 7.2% ( 19 .9 - 14 .2) I 14 .2 = 5.0% (12 4.8 - 19 .9) I 1 9.9 = 4 .1% (12 8 .1 - 12 4.8) I 12 4.8 = 2.6% The inflation rate is decreasing, but the price level is still ... Rate Face Value Cumulative Face Value (%) ($ billions} ($ billions} 0 .10 81 3 0 10 90 12 0 10 98 23 0 1 04 28 0 1 17 36 0 1 24 43 Because the total face value of bills offered is $35 billion, ... Economics, CFA Program Curriculum, Volume 2 (CFA Institute, 2 013 ) 20 International Trade and Capital Flows 21 Currency Exchange Rates page 8 page 45 page 57 page 92 page 12 4 page 15 5 page 17 8

Ngày tải lên: 01/04/2021, 14:46

... 10 2 10 3 10 4 10 5 10 6 10 7 10 8 10 9 11 0 11 1 11 2 11 3 11 4 11 5 11 6 11 7 11 8 11 9 12 0 12 1 12 2 12 3 12 4 12 5 12 6 12 7 12 8 12 9 13 0 13 1 13 2 13 3 13 4 13 5 13 6 13 7 13 8 13 9 14 0 14 1 14 2 14 3 14 4 14 5 14 6 14 7 14 8 14 9 15 0 ... 15 0 15 1 15 2 15 3 95 96 97 98 99 10 0 10 1 10 2 10 3 10 4 10 5 10 6 10 7 10 8 10 9 11 0 11 1 11 2 11 3 11 4 11 5 11 6 11 7 11 8 11 9 12 0 12 1 12 2 12 3 12 4 12 5 12 6 12 7 12 8 12 9 13 0 13 1 13 2 13 3 13 4 13 5 13 6 13 7 13 8 13 9 14 0 ... 14 0 14 1 14 2 14 3 14 4 14 5 14 6 15 4 15 5 15 6 15 7 15 8 15 9 16 0 16 1 16 2 16 3 16 4 16 5 16 6 16 7 16 8 16 9 17 0 17 1 17 2 17 3 17 4 17 5 17 6 17 7 17 8 17 9 18 0 18 1 18 2 18 3 18 4 14 7 14 8 14 9 15 0 15 1 15 2 15 3 15 4 15 5 15 6 15 7

Ngày tải lên: 28/07/2017, 10:58

... 10 2 10 3 10 4 10 5 10 6 10 7 10 8 10 9 11 0 11 1 11 2 11 3 11 4 11 5 11 6 11 7 11 8 11 9 12 0 12 1 12 2 12 3 12 4 12 5 12 6 12 7 12 8 12 9 13 0 13 1 13 2 13 3 13 4 13 5 13 6 13 7 13 8 13 9 14 0 14 1 14 2 14 3 14 4 14 5 14 6 14 7 14 8 14 9 15 0 ... 15 0 15 1 15 2 15 3 92 93 94 95 96 97 98 99 10 0 10 1 10 2 10 3 10 4 10 5 10 6 10 7 10 8 10 9 11 0 11 1 11 2 11 3 11 4 11 5 11 6 11 7 11 8 11 9 12 0 12 1 12 2 12 3 12 4 12 5 12 6 12 7 12 8 12 9 13 0 13 1 13 2 13 3 13 4 13 5 13 6 13 7 13 8 ... 13 8 13 9 14 0 14 1 14 2 14 3 15 4 15 5 15 6 15 7 15 8 15 9 16 0 16 1 16 2 16 3 16 4 16 5 16 6 16 7 16 8 16 9 17 0 17 1 17 2 17 3 17 4 17 5 17 6 17 7 17 8 17 9 18 0 18 1 18 2 18 3 18 4 18 5 18 6 18 7 18 8 18 9 19 0 19 1 19 2 19 3 19 4 19 5 19 6

Ngày tải lên: 28/07/2017, 10:59

... 2.7 -10 % 3 61 14 3.0 369.43 3.3 +10 % 378.44 3.6 +20% 388. 31 % Change -4. 31 -2.24 +2.44 +5 1 Forecasted EPS 20.30; real return on equity of 10 %; current dividend 12 ; g5 = 10 .5%; ... justified P/E ratio is 1 8.2: Yo = _QQ _ r - gL [( 1 + gt) + N 2 (gs -gL)j = 12 [ (1. 03) + 30 (0 10 5 - 0.03)] = 369.43 0 10 - 0.03 2 %(justified)= 369.4Ji0.30 = 18 19 9 = 18 .20 Estimating ... Portfolio Management 13 6 Self-Test-Economic Concepts 17 5 Study Session -Asset Allocation 17 8 Self-Test-Asset Allocation 257 Formulas 262 (3)SCHWESERNOTES™ 2 013 CFA LEVEL III BOOK 2: INSTITUTIONAL

Ngày tải lên: 01/04/2021, 14:50

... quarters does real income decline? Nominal GDP Q 0 (base) 9 81 Q1 993 Q2 1, 0 01 Q3 1, 042 Q4 1, 040 GDP Deflator 10 0 10 1 10 6 11 1 10 7 * all four quarters * none of these answers is ... * 4. 51% * 7.88% * 12 . 21% * 30.00% * 6. 61% That answer is incorrect. Correct answer: 6. 61% The calculation is as follows: (36 /10 )^ (1/ 20) -1= 0.06 61 Which of the ... www .cfa- aficionado.cjb.net www.marbella.to /cfa- aficionado 10 81 Questions + Answers of the CFA EXAM Level 1 Study Session : Macroeconomics

Ngày tải lên: 26/05/2014, 23:26

... of 15 1 Question ID: 412 6 31 Ralph Lim and Susan Bland have both passed Level I of the CFA Program Both are currently enrolled to sit for Level II Lim's business card reads, "Ralph Lim, CFA Level ... Key Concepts by LOS Question #13 of 15 1 Question ID: 412 617 Nichole Zeller and Randy Toffler have both passed Level II of the CFA Exam Program and have registered for Level III Zeller circulates ... designation, such as CFA II References Question From: Session > Reading 3-VII > LOS (B) Related Material: Key Concepts by LOS Question #14 of 15 1 Question ID: 412 715 In 19 95, the CFA Institute sponsored

Ngày tải lên: 12/06/2019, 16:47

... of 15 1 Question ID: 412 6 31 Ralph Lim and Susan Bland have both passed Level I of the CFA Program Both are currently enrolled to sit for Level II Lim's business card reads, "Ralph Lim, CFA Level ... is put into place Question #13 of 15 1 Question ID: 412 617 Nichole Zeller and Randy Toffler have both passed Level II of the CFA Exam Program and have registered for Level III Zeller circulates ... recommendation Question #29 of 15 1 Question ID: 5 511 00 For the past years, Karen Beckworth, CFA, has served as a proctor for the CFA exam Beckworth tells her assistant, a Level III CFA candidate, that she

Ngày tải lên: 12/06/2019, 16:47

... 15 % 18 % 19 % B 20% 17 % 18 % C 25% 11 % 10 % D 40% 7% 9% ✗ A) 1. 140% ✓ B) 4.53% ✗ C) 5.992% Explanation E(RA) = 11 .65% σ2 = 0.0020506 = 0 .15 (0 .18 − 0 .11 65)2 + 0.2(0 .17 − 0 .11 65)2 + 0.25(0 .11 − 0 .11 65)2 ... = (0.65)(0 .11 ) + (0.35)(0.09) = 10 .3% σp = [(w1)2(? ?1) 2 + (w2)2(σ2)2 + 2w1w2? ?1? ?2 r1,2 ]1/ 2 = [(0.65)2(22)2 + (0.35)2 (13 )2 + 2(0.65)(0.35)(22) (13 )(0.25) ]1/ 2 = [(0.4225)(484) + (0 .12 25) (16 9) + 2(0.65)(0.35)(22) (13 )(0.25) ]1/ 2 ... B A 15 % 18 % 19 % B 20% 17 % 18 % C 25% 11 % 10 % D 40% 7% 9% ✓ A) 4.34% ✗ B) 12 .55% ✗ C) 9. 51% Explanation Scenario Probability Return on Portfolio B P × [RB - E(RB)]2 A 15 % 19 % 0.000624 B 20% 18 %

Ngày tải lên: 12/06/2019, 16:47

... Portfolio A Return on Portfolio B A 15 % 18 % 19 % B 20% 17 % 18 % C 25% 11 % 10 % D 40% 7% 9% A) 1. 140% B) 4.53% C) 5.992% Question #10 2 of 11 9 Question ID: 413 110 Given the following probability distribution, ... on Portfolio B A 15 % 18 % 19 % B 20% 17 % 18 % C 25% 11 % 10 % D 40% 7% 9% A) 4.34% B) 12 .55% C) 9. 51% Question #17 of 11 9 Question ID: 413 039 If the probability of an event is 0 .10 , what are the odds ... Portfolio Return on Portfolio B A A 15 % 18 % 19 % B 20% 17 % 18 % C 25% 11 % 10 % D 40% 7% 9% A) 0.890223 B) 0.002 019 C) 0.0 018 98 Question #79 of 11 9 Question ID: 710 138 The "likelihood" of an event occurring

Ngày tải lên: 12/06/2019, 16:47

... 2.764 3 .16 9 4.587 11 1. 363 1. 796 2.2 01 2. 718 3 .10 6 4.437 12 1. 356 1. 782 2 .17 9 2.6 81 3.055 4. 318 22 1. 3 21 1. 717 2.074 2.508 2. 819 3.792 23 1. 319 1. 714 2.069 2.500 2.807 3.768 24 1. 318 1. 711 2.064 ... 0 .10 0.05 0.02 0. 01 0.0 01 18 1. 330 1. 734 2 .10 1 2.552 2.878 3.922 19 1. 328 1. 729 2.093 2.539 2.8 61 3.883 20 1. 325 1. 725 2.086 2.528 2.845 3.850 21 1.323 1. 7 21 2.080 2. 518 2.8 31 3. 819 In a two-tailed ... Question #11 5 of 12 6 Question ID: 434228 Cumulative Z-Table z 0.04 0.05 0.06 0.07 0.08 0.09 1. 2 0.8925 0.8944 0.8962 0.8980 0.8997 0.9 015 1. 3 0.9099 0. 911 5 0. 913 1 0. 914 7 0. 916 2 0. 917 7 1. 4 0.92 51 0.9265

Ngày tải lên: 12/06/2019, 16:47

... Cloth $40 $10 Shirt $50 $10 Sum of value added $50 References Question From: Session > Reading 16 > LOS b Related Material: Key Concepts by LOS Question #12 of 99 Question ID: 413 8 21 Which of ... minus taxes References Question From: Session > Reading 16 > LOS d Related Material: Key Concepts by LOS Question #11 of 99 Question ID: 413 7 41 A shirt with a retail price of $50 is produced using ... Session > Reading 16 > LOS d Related Material: Key Concepts by LOS Question #17 of 99 Question ID: 472 411 If both aggregate demand and short-run aggregate supply decrease, the price level: ✗ A) will

Ngày tải lên: 12/06/2019, 16:47

... Question #10 of 99 Question ID: 413 749 The difference between personal income and personal disposable income is: A) taxes B) savings C) fixed expenses Question #11 of 99 Question ID: 413 7 41 A shirt ... Question #17 of 99 If both aggregate demand and short-run aggregate supply decrease, the price level: A) will increase Question ID: 472 411 B) may increase or decrease C) will decrease Question #18 of ... in the CPI Question #13 of 99 Question ID: 413 785 Phases of a business cycle least likely include: A) expansion B) trough C) restriction Question #14 of 99 Question ID: 413 805 Which type of unemployment

Ngày tải lên: 12/06/2019, 16:47

... be: ✗ A) 1. 56 21 ✗ B) 1. 5788 ✓ C) 1. 5762 Explanation Forward USD/GBP = spot USD/GBP × (1 + U.S interest rate) / (1 + UK interest rate) = 1. 5775 × [ (1 + 0. 015 /12 ) / (1 + 0.025 /12 )] = 1. 5762 References ... CAD/GBP 1. 8325, what is the USD/CAD spot cross exchange rate? ✗ A) 0.42428 ✓ B) 0.7 018 6 ✗ C) 1. 42477 Explanation First, convert GBP/USD 0.7775 to 1/ 0.7775 = USD/GBP 1. 28 617 Then, divide USD/GBP 1. 28 617 ... USD/GBP 1. 28 617 by CAD/GBP 1. 8325 = USD/CAD 0.7 018 7 References Question From: Session > Reading 20 > LOS d Related Material: Key Concepts by LOS Question # 21 of 19 6 Question ID: 413 9 21 In the Ricardian

Ngày tải lên: 12/06/2019, 16:47

... #35 of 19 6 Question ID: 413 972 The spot exchange rate is 1. 113 2 GBP/EUR and the 1- year forward rate is quoted as +13 49 points The 1- year forward exchange rate for GBP/EUR is closest to: A) 1. 2634 ... #1 of 19 6 Question ID: 413 964 Given an exchange rate of USD/CAD 0.9250 and USD/CHF 1. 6250, what is the cross rate for CAD/CHF? A) 1. 7568 B) 1. 5032 C) 0.5692 Question #2 of 19 6 Question ID: 413 842 ... 0.8342 and the 1- year forward quotation is −0.353% The 1- year forward exchange rate for EUR/CHF is closest to: A) 1. 2022 B) 1. 2029 C) 0.8 313 Question #15 8 of 19 6 Question ID: 413 905 In contrast

Ngày tải lên: 12/06/2019, 16:47

... ✗ A) $32,800 $11 3,600 ✗ B) $16 ,000 $12 9,600 ✓ C) $32,800 $12 9,600 Explanation Liabilities plus equity are equal to $12 9,600 ( $16 ,000 accounts payable + $20,000 notes payable + $19 ,600 common ... Session > Reading 21 > LOS c Related Material: Key Concepts by LOS Question #18 of 82 Question ID: 414 016 A furniture store acquires a set of chairs for $750 cash and sells them for $10 00 cash These ... December 31, 2006, was $30,000 ($58,000 assets - $28,000 liabilities) and stockholders' equity, as of December 31, 2007, was $55,750 ($30,000 beginning equity + $15 ,500 stockholder investments + $18 ,000

Ngày tải lên: 12/06/2019, 16:47

... based only on these entries Cash Total assets A) $32,800 $11 3,600 B) $16 ,000 $12 9,600 C) $32,800 $12 9,600 Question #62 of 82 Question ID: 413 9 91 Which of the following best describes financial reporting ... system Question #14 of 82 Question ID: 414 023 Beta Company reported the following financial statement information: December 31, 2006: Assets $58,000 Liabilities 28,000 December 31, 2007: Assets ... infrequent items C) results of operations Question #18 of 82 Question ID: 414 016 A furniture store acquires a set of chairs for $750 cash and sells them for $10 00 cash These transactions are most likely

Ngày tải lên: 12/06/2019, 16:47

... dollars Net income is $11 , 211 ,200 ($ 215 ,600,000 × 5.2%) and average equity is $ 41, 772,000 [($95,300,000 × 48.0%) + $37,800,000] / Thus, 2007 ROE is 26.8% ( $11 , 211 ,200 net income / $ 41, 772,000 average ... / total equity) Where EBIT = EBT + interest = 1, 349 + 15 1 = 1, 500 ROE 2007 = (944 / 1, 349) (1, 349 / 1, 500) (1, 500 / 3,000)(3,000 / 2,920)(2,920 / 1, 519 ) = 0.622 References Question From: Session ... Total CA 13 00 16 60 Plant, prop equip 10 00 12 50 Total Assets 2600 2 910 Accounts Payable 500 550 Long term debt 700 700 Total liabilities 12 00 16 52 Common Stock 400 400 Retained Earnings 12 60 12 60

Ngày tải lên: 12/06/2019, 16:47

... Sales 15 00 COGS 11 00 Gross Profit 400 SG&A 15 0 Operating Profit 250 Interest Expense 25 Taxes 75 Net Income 15 0 What is the ROE? A) 9.3% B) 10 .7% C) 9.9% Question #19 8 of 200 Question ID: 414 411 ... Question #16 8 of 200 Question ID: 414 414 Income Statements for Royal, Inc for the years ended December 31, 20X0 and December 31, 20X1 were as follows (in $ millions): 20X0 20X1 78 82 (47) (48) 31 34 ... CA 13 00 16 60 Plant, prop equip 10 00 12 50 Total Assets 2600 2 910 500 550 Liabilities Accounts Payable Long term debt 700 700 Total liabilities 12 00 16 52 Common Stock 400 400 Retained Earnings 12 60

Ngày tải lên: 12/06/2019, 16:47

... Value in 1- Year ✗ A) 11 ,099,495 Total Interest Expense 2,437,893 ✓ B) 10 ,18 1,495 2,437,893 ✗ C) 10 ,18 1,495 2,962 ,10 7 Explanation To determine the bond's market value one year from now: FV = 10 ,000,000; ... Income (year 3) = $14 ,384 − $7,606 = $6,778 Cumulative difference in income at end of year = 3($9. 314 ) − [2($5, 511 ) + $6,778] = $10 ,14 2 DTL value at new tax rate = 0. 31( $10 ,14 2) = $3 ,14 4 References ... Year ✓ A) 3,300 4 ,10 0 ✗ B) 3,900 3,900 ✗ C) 600 -200 Explanation Using DDB: Yr Yr Revenue 15 ,000 15 ,000 Depreciation 4,000 1, 333 Taxable Income 11 ,000 13 ,667 Taxes Payable 4 ,10 0 3,300 An asset

Ngày tải lên: 12/06/2019, 16:47

... life of the bond? Value in 1- Year Total Interest Expense A) 11 ,099,495 2,437,893 B) 10 ,18 1,495 2,437,893 C) 10 ,18 1,495 2,962 ,10 7 Question #17 of 14 3 Question ID: 414 637 For a given lease payment ... tax payable? A) $10 2,000 B) $12 0,000 C) $90,000 Question #11 4 of 14 3 Question ID: 414 613 A company redeems $10 ,000,000 of bonds that it issued at par value for 10 1% of par or $10 ,10 0,000 In its ... this transaction as a: A) $10 ,000,000 CFF outflow and $10 0,000 CFO outflow B) 10 ,10 0,000 CFF outflow C) $10 ,10 0,000 CFO outflow Question #11 5 of 14 3 Question ID: 414 633 Compared to an operating

Ngày tải lên: 12/06/2019, 16:47