An analyst does research about the coe...

单项选择题An analyst does research about the coefficient of covariance and the Sharpe ratio. A security's mean return is positive and more than its standard deviation of returns. If the risk-free rate is zero, the coefficient of covariance is most likely:

A. less than the Sharpe ratio.
B. equal to the Sharpe ratio.
C. greater than the Sharpe ratio.

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1.单项选择题An analyst does research about sampling. Compared to estimates of parameters produced from simple random sampling, estimates of parameters produced from stratified random sampling most likely have:

A. less precision.
B. the same precision.
C. greater precision.

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2.单项选择题An analyst does research about Bayes' formula and estimates the following information regarding bonus for management and the net income of a company:

Event Probability

Net income increases given management received a bonus 0.7

Net income mcreases given management did not receive a bonus 0.3
The analyst's prior probability that management received a bonus is 0.5. Using Bayes' formula, if the company announces an increase in net income, the probability management received a bonus is closest to:

A. 0.22
B. 0.78
C. 0.86

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3.单项选择题An analyst does research about sampling and estimation and gathers the following information about the performance of a sample of funds from each of three different categories of mutual funds:

Sample Population Standard Deviation Sample Mean Sample Size

Category 1 15% 9.9% 40

Category 2 16% 10.3% 50

Category 3 19% 8.7% 65
The smallest standard error of the sample mean is associated with the sample from:（）

A. Category 1.
B. Category 2.
C. Category 3.

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4.单项选择题A well-diversified investor holds an equal investment in cash of the equity shares of Meyer, Inc., Johnson, Inc., and Fairfax Enterprises. The three companies operate in the same industry and will benefit equally from a favorable decision in a pending court case. The investor concludes that the current stock prices for Meyer and Johnson each reflect a 50 percent probability that the decision will be favorable to the industry, while the current stock price for Fairfax reflects a 70 percent probability that the decision will be favorable. The most. appropriate strategy for the investor is to:

A. sell Fairfax shares and use the proceeds to purchase additional shares in Meyer and Johnson.
B. sell both Meyer and Johnson shares and use the proceeds to purchase additional shares in Fairfax.
C. reallocate the investment in the industry to 15 percent in Meyer, 15 percent in Johnson, and 70 percent in Fairfax.

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5.单项选择题An analyst does research about confidence interval and gathers the following information about a stock return. The mean return of the stock is 11.5%. The standard deviation of returns of the stock is 1.8%. The lower endpoint of a confidence interval for the population mean with a reliability factor of 1.5 is closest to:

A. 8.8%
B. 9.7%
C. 14.2%

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6.单项选择题An analyst does research about standard deviation and forecasts the following information about earnings per share (EPS):

Scenario Probability of Scenario Earnings per share

1 0.25 $8.10

2 0.75 $6.15
The standard deviation of earnings per share is closest to:

A. 0.51
B. 0.71
C. 0.84

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7.单项选择题An analyst does research about hypothesis testing. Which of the following test statistics is most appropriate test statistics for two means based on samples that we believe are dependent

A. T-test.
B. F-test.
C. Chi-square test.

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8.单项选择题 An analyst at a bank concludes that the probability of default for a one-year, single-payment loan is 10.0 percent, and the bank will recover nothing if the loan defaults. The current risk-free rate of return is 3.5 percent. The minimum yieldto-maturity and minimum default risk premium, respectively, that the bank should demand on the loan are closest to:()

A.
B.
C.

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9.单项选择题An investor does research about investment return and gathers the following nformation about a portfolio:

Year Return

2009 11%

2010 7%

2011 3%
If the investor contributed new funds to the portfolio at the beginning of each year, the time-weighted rate of return is m.ost likely:

A. less than the money-weighted rate of return.
B. the same as the money-weighted rate of return.
C. greater than the money-weighted rate of return.

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10.单项选择题An analyst does research about kurtosis. Compared to a normal distribution, a distribution with excess kurtosis of zero is best described as:

A. less peaked.
B. equally peaked.
C. greater peaked.

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Event	Probability
Net income increases given management received a bonus	0.7
Net income mcreases given management did not receive a bonus	0.3

Sample	Population Standard Deviation	Sample Mean	Sample Size
Category 1	15%	9.9%	40
Category 2	16%	10.3%	50
Category 3	19%	8.7%	65

Scenario	Probability of Scenario	Earnings per share
1	0.25	$8.10
2	0.75	$6.15

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