1.Greg Stiles, CFA, has recently liquidated most of a client's portfolio because the client is planning to buy a house. Stiles informs one of the brokers in his office who has his real estate license about the plans of his client. With respect to Standard III(E), Preservation of Confidentiality, this action:
Select exactly 1 answers from the following:
A. is appropriate since Stiles only tells a licensed salesman.
B. is appropriate since Stiles waited until after the liquidation of the securities.
C. is appropriate since Stiles keeps the information in the firm.
D. violates the Standard unless the client asks Stiles to tell the licensed salesman.
2.A firm issues a $5 million zero coupon bond with a maturity of four years when market rates are 8 percent. Assuming semiannual compounding periods, the total interest on this bond is:
Select exactly 1 answers from the following:
A. $1,200,000.
B. $1,200,411.
C. $1,346,549.
D. $1,600,000.
3.The JME Jumpers, a professional volleyball team, sells season tickets to all home games. The cost of a season ticket is $1,000 and the team plays 20 home games, which run from April through August. For the year ended June 30, 2005, JME sold 1,200 tickets, collected 80 percent of the amount owed, and played 12 home games. How much revenue should JME recognize?
Select exactly 1 answers from the following:
A. $0.
B. $960,000.
C. $1,200,000.
D. $720,000.
4.Which of the following most accurately describes the shapes of the average variable cost (AVC) and average total cost (ATC) curves?
Select exactly 1 answers from the following:
A. The AVC and ATC curves are both U-shaped
B. The AVC and ATC curves both decrease initially, and then flatten.
C. The AVC curve is U-shaped whereas the ATC curve declines initially then flattens.
D. The AVC curve declines initially then flattens, whereas the ATC curve is U-shaped
5.Which of the following is a difference between primary and secondary capital markets?
Select exactly 1 answers from the following:
A. Primary markets are where stocks trade while secondary markets are where bonds trade.
B. Both primary and secondary markets relate to where stocks and bonds trade after their initial offering.
C. Secondary capital markets relate to the sale of new issues of bonds, preferred, and common stock, while primary capital markets are where securities trade after their initial offering.
D. Primary capital markets relate to the sale of new issues of bonds, preferred, and common stock, while secondary capital markets are where securities trade after their initial offering.
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