Based on historical data and assuming less-than-full employment, periods of sharp acceleration  in the growth rate of the money supply tend to be associated initially with;   A. periods of economic recession   B. an increase in the velocity of money   C. a rapid growth in gross domestic product   D. reductions in real gross domestic product    【答案】 C At less-than- full employment, an expected increase in the growth rate of the money supply will initially reduce the real rate of interest, increasing the demand for goods and services.    CFA特许金融分析师1-3级【沪江金程联合开发】                权威名师倾情打造，助力通过金融第一考                查看折扣  CFA特许金融分析师1级【沪江&金程联合开发】                  权威名师倾情打造，助力通过金融第一考                查看折扣  金融英语【特惠班】                                                      双语教学，助力提升金融专业英语水平                   查看折扣    更多精彩：  CFA书籍丨CFA考试之后，这7本书值得一读  零基础、跨专业CFA一级10A心得，一千个考友就有一千种备考方式  CFA、CPA、FRM、ACCA 各自的优劣势及持证人从业一级方向

or most products the long-run price elasticity of demand is;   A. less than the short-run price elasticity of demand   B. greater than the short-run price elasticity of demand   C. more likely to increase than is the short-run price elasticity of demand   D. more likely to decrease than is the short-run price elasticity of demand   【答案】 B Generally, when the price of a product increases, consumers reduce consumption by a larger  amount in the long run than in the short run; this relationship between elasticity and time is referred  to as the second law of demand.      CFA特许金融分析师1-3级【沪江金程联合开发】                权威名师倾情打造，助力通过金融第一考                查看折扣  CFA特许金融分析师1级【沪江&金程联合开发】                  权威名师倾情打造，助力通过金融第一考                查看折扣  金融英语【特惠班】                                                      双语教学，助力提升金融专业英语水平                   查看折扣    更多精彩：  CFA书籍丨CFA考试之后，这7本书值得一读  零基础、跨专业CFA一级10A心得，一千个考友就有一千种备考方式  CFA、CPA、FRM、ACCA 各自的优劣势及持证人从业一级方向

心地がよくない　2気を遣うこともあるが、悪くない　3気を遣うことなく、満足している　4気を遣うことないが、退屈だ，通过排除的方法，可以锁定答案为2。该类型的题目必须通过大量的听力练习辅助教师的归纳指导，才能有的放矢的选出答案。 第四大题 即时应答 本题所考察的知识点无一不是课堂上反复强点的重点。如第2题拜托想想办法的表述“……もう少し何とかならないの?”，第3题请求他人的表达“……てもらえたら”， 第4题，礼貌的提醒某人不日语学习的过程中，我们了解到它考试其实和英语考试的题型基本是一样的。都包括听力要做某事的表述“……ご遠慮いいただきます”， 第6题，最高级的表述“……何より”等等都再次证明只要能够把优势日语教材中的考点均熟练掌握，应对此类型题目是轻车熟路。当然本大题中还涉及2个较的词汇如第5题，“ぱっとしない(不理想)”， 第7题，“ぎくしゃく(别别扭扭)”，但是若能较好的把握说话者的语气，判断积极和

Assume U.S. GAAP (generally accepted accounting principles) applies unless otherwise notes  Software development costs incurred before and after a product is proven economically feasible;   A. expensed both before and after   B. capitalized both before and after   C. expensed before and capitalized after   D. capitalized before and expensed after    【答案】 C   All costs incurred to establish the economic feasibility of software should be expensed as incurred  Once economic feasibility is established subsequent costs can be capitalized.     CFA特许金融分析师1-3级【沪江金程联合开发】                权威名师倾情打造，助力通过金融第一考                查看折扣  CFA特许金融分析师1级【沪江&金程联合开发】                  权威名师倾情打造，助力通过金融第一考                查看折扣  金融英语【特惠班】                                                      双语教学，助力提升金融专业英语水平                   查看折扣    更多精彩：  CFA书籍丨CFA考试之后，这7本书值得一读  零基础、跨专业CFA一级10A心得，一千个考友就有一千种备考方式  CFA、CPA、FRM、ACCA 各自的优劣势及持证人从业一级方向

Assume U, S, GAAP (generally accepted accounting principles)applies unless otherwise noted. Two companies are identical except for substantially different dividend payout ratios. After several years, the company with the lower dividend payout ratio is most likely to have; A. a lower stock price B. a higher debt/equity ratio C. faster growth of earnings per share D. slower growth of earnings per share   【答案】 C   Growth is a function of the fim's earnings retention rate and the firm's retum on equity. All else  equal, the fim with the higher retention rate(lower dividend payout rate)will experience higher  growth in earnings per share.      CFA特许金融分析师1-3级【沪江金程联合开发】                权威名师倾情打造，助力通过金融第一考                查看折扣  CFA特许金融分析师1级【沪江&金程联合开发】                  权威名师倾情打造，助力通过金融第一考                查看折扣  金融英语【特惠班】                                                      双语教学，助力提升金融专业英语水平                   查看折扣    更多精彩：  CFA书籍丨CFA考试之后，这7本书值得一读  零基础、跨专业CFA一级10A心得，一千个考友就有一千种备考方式  CFA、CPA、FRM、ACCA 各自的优劣势及持证人从业一级方向

The population mean and standard deviation of monthly net sales for a company are $100  million and $30 million, respectively, If monthly net sales are normally distributed which of the  following best describes the interval that would be expected to contain approximately 95 percent of  the monthly net sales?   A. $10 million to $190 million   B. $30 million to $170 million   C. $40 million to $160 million   D. $70 million to $130 million   【答案】 C In a normal distribution about 95 percent of the observations will fall within +/-2 standard deviations of the mean： $100-2(30)=$40and$100+2(30)=$160    CFA特许金融分析师1-3级【沪江金程联合开发】                权威名师倾情打造，助力通过金融第一考                查看折扣  CFA特许金融分析师1级【沪江&金程联合开发】                  权威名师倾情打造，助力通过金融第一考                查看折扣  金融英语【特惠班】                                                      双语教学，助力提升金融专业英语水平                   查看折扣    更多精彩：  CFA书籍丨CFA考试之后，这7本书值得一读  零基础、跨专业CFA一级10A心得，一千个考友就有一千种备考方式  CFA、CPA、FRM、ACCA 各自的优劣势及持证人从业一级方向

With of the following statements about standard deviation is most accurate? Standard deviation:   A. is the square of the variance.   B. can be a positive number or a negative number.   C. is denominated in the same units as the original data.   D. is the arithmetic mean of the squared deviations from the mean.   【答案】 C The arithmetic average of the squared deviations around the mean is the variance. the standard deviations is the positive square root of the variance and is denominated in the same units as the original data.  CFA特许金融分析师1-3级【沪江金程联合开发】                权威名师倾情打造，助力通过金融第一考                查看折扣  CFA特许金融分析师1级【沪江&金程联合开发】                  权威名师倾情打造，助力通过金融第一考                查看折扣  金融英语【特惠班】                                                      双语教学，助力提升金融专业英语水平                   查看折扣    更多精彩：  CFA书籍丨CFA考试之后，这7本书值得一读  零基础、跨专业CFA一级10A心得，一千个考友就有一千种备考方式  CFA、CPA、FRM、ACCA 各自的优劣势及持证人从业一级方向

Assume U.S. GAAP (generally accepted accounting principles)applies unless otherwise noted. An analyst applied the DuPont System to the following data for a company; Using the DuPont System, the company's return on equity is closest to; A 1.3% B 11.0% C 23.1% D 63.6%   【答案】 C   The return on equity is equal to the equity turnover multiplied by the net profit  margin; 42×55%=23.1%.     CFA特许金融分析师1-3级【沪江金程联合开发】                权威名师倾情打造，助力通过金融第一考                查看折扣  CFA特许金融分析师1级【沪江&金程联合开发】                  权威名师倾情打造，助力通过金融第一考                查看折扣  金融英语【特惠班】                                                      双语教学，助力提升金融专业英语水平                   查看折扣    更多精彩：  CFA书籍丨CFA考试之后，这7本书值得一读  零基础、跨专业CFA一级10A心得，一千个考友就有一千种备考方式  CFA、CPA、FRM、ACCA 各自的优劣势及持证人从业一级方向

Assume U.S. GAAP (generally accepted accounting principles) applies unless otherwise noted  During a period of rising price levels and rising inventory quantities, the financial statements of a  company using FIFO instead of LIFO for inventory accounting will show:   A. lower total assets and lower net income   B. lower total assets and higher net income   C. higher total assets and lower net income   D. higher total assets and higher net income   【答案】 D   In periods of rising prices and stable or increasing inventory quantities, using FIFO instead of LIFO  will result in higher income before taxes, income taxes, net income, and assets. Cost of goods sold  and cash flow will be lower with FIFO.  CFA特许金融分析师1-3级【沪江金程联合开发】                权威名师倾情打造，助力通过金融第一考                查看折扣  CFA特许金融分析师1级【沪江&金程联合开发】                  权威名师倾情打造，助力通过金融第一考                查看折扣  金融英语【特惠班】                                                      双语教学，助力提升金融专业英语水平                   查看折扣    更多精彩：  CFA书籍丨CFA考试之后，这7本书值得一读  零基础、跨专业CFA一级10A心得，一千个考友就有一千种备考方式  CFA、CPA、FRM、ACCA 各自的优劣势及持证人从业一级方向

CFA Institute Standards of Professional Conduct prohibit CFA charterholders from making  statements misrepresenting their qualifications, their firms services, or the expected performance  of any investment. Does this prohibition apply to:    【答案】   D The Standard prohibiting misrepresentation applies to all oral and written forms of communication, including electronic communications.     CFA特许金融分析师1-3级【沪江金程联合开发】                权威名师倾情打造，助力通过金融第一考                查看折扣  CFA特许金融分析师1级【沪江&金程联合开发】                  权威名师倾情打造，助力通过金融第一考                查看折扣  金融英语【特惠班】                                                      双语教学，助力提升金融专业英语水平                    查看折扣    更多精彩：  CFA书籍丨CFA考试之后，这7本书值得一读  零基础、跨专业CFA一级10A心得，一千个考友就有一千种备考方式  CFA、CPA、FRM、ACCA 各自的优劣势及持证人从业一级方向