CFA财务报表分析练习题＂Financial Report＂：Loan contract
财务报告与分析中章节的设置是循序渐进、逐层深入的，前面介绍的术语在后面还会有详细的解释与探讨。
由于财务报告与分析本身自立体系，它是上市公司和报表使用人之间沟通交流的语言，所以学起来与外语学习有几分相似。
财务报告与分析一共分为四大部分：
第一部分是扫盲阶段，主要介绍财务术语、体系等基本知识。
在此基础上，第二部分更深入地讲解财务报表编制以及财务报表分析的方法。
进一步地，第三部分针对存在利润操纵空间的重点科目做详细、深入的讨论。
最后，第四部分是前面三部分内容的综合应用。
四大部分在考试中占比最大的是第二部分和第三部分，大概占财报分析所有题目的80%以上。其次是第一部分，占比10%左右。
由于第四部分是财务分析的综合应用，不太适合一级的出题形式，所以
出题比例相对比较少，大概占5%左右。
Questions 1:
A company that provides cruise ship vacations uses term loans to finance the acquisition of new cruise ships.Which of the following is most likely a negative covenant for the loans?The company must:
A、ensure the ships are insured.
B、seek lender approval to pay dividends.
C、maintain a minimum level of working capital.
【Answer to question 1】B
【analysis】
B is correct.Negative covenants require that a borrower not take certain actions.The requirement to seek the lender’s approval before paying dividends is an example of a negative covenant.The other two are affirmative covenants.
A is incorrect.This is an affirmative covenant.The bank would want to ensure that the ships,or collateral for the loan,are adequately insured.
C is incorrect.This is an affirmative covenant.Maintaining a minimum level of working capital is often a covenant to ensure the company has adequate levels of liquidity to make the interest payments.
Questions 2:
A company issued bonds in 2012 that mature in 2022.The measurement basis that will most likely be used on the 2012 balance sheet for the bonds is:
A、amortized cost.
B、market value.
C、historical cost.
【Answer to question 2】A
【analysis】
A is correct.Bonds payable issued by a company are financial liabilities that are usually measured at amortized cost.
B is incorrect.Only financial liabilities held for trading are measure at market value,and that does not include bonds issued by the company.
C is incorrect.Historical cost would record the bonds at the value at date of issue and not amortize the bond premium or discount over the life of the bond.
写评论
