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  1. Home
  2. CFA Certification
  3. CFA-Level-I Exam
  4. CFA.CFA-Level-I.v2022-03-26.q499 Dumps
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Question 1

Consider the following: Total operating expenses $95,000 Depreciation expense $ 5,000 Amortization expense $ 3,000 Beginning prepaids $15,000 Ending prepaids $11,000 Beginning accrued liabilities
$ 6,000 Ending accrued liabilities $ 1,000
What was the total of cash payments for expenses?

Correct Answer: C
Cash payments for expenses = Expenses - Noncash expenses - Decrease in Prepaids +
Decrease in Accrued Liabilities. $95,000 - $8,000 - $4,000 + $5,000 = $88,000, the total cash payments for expenses.
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Question 2

The major difference between an index mutual fund and an EFT is that:

Correct Answer: B
A). EFT investor buys EFT shares from other investors.
B). They can short shares too.
C). The dividends are paid out to the shareholders.
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Question 3

Which of the following is true of a monopolist's demand curve?

Correct Answer: A
A monopolist is the sole supplier to a market; therefore, the monopolist provides the industry supply. The demand curve that the monopolist faces then is the market demand curve.
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Question 4

On a survey questionnaire, students were asked to indicate their class rank in college. If there were only four choices from which to choose, which measure(s) of central tendency would be appropriate to use for the data generated by that questionnaire item?

Correct Answer: B
We can discard the mean since it is not appropriate here. If we want to find out which class has the most students or where the students are most frequently ranked, then the mode and median should be used.
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Question 5

A cup contains 4 pennies and 6 dimes. Three coins are selected with replacement from the cup.
What is the probability that exactly 2 of the coins selected were pennies?

Correct Answer: A
Since this is sampling with replacement, we use the binomial distribution with n = 3 and pai =
2 1
0 .4 so from the table p(2) = 3!/[1! x 2!] x 0.4 x 0.6 = 0.288.
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