F9 Mock Questions D10
- 格式:pdf
- 大小:153.63 KB
- 文档页数:8
QC MOCK TEST Copyright © This section presents you various set of Mock Tests related to QC Framework. You can download these sample mock tests at your local machine and solve offline at your convenience. Every mocktest is supplied with a mock test key to let you verify the final score and grade yourself.QC MOCK TESTQ 1 - In which fields of the Design Steps tab is it possible to use parameters? Selecttwo.1. Step Name2. Expected Result3. Parameters4. Test Configurations5. DescriptionA - 2 and 5 onlyB - 1 and 4 OnlyC - 3 and 5 OnlyD - 2 and 3Q 2 - Which HP Application Lifecycle Management command enables you to convert a Manual test to an Automated test type?A - Convert ScriptB - Create ScriptC - Generate ScriptD - Generate Script from manual testQ 3 - Which icon indicates a checked out entity?A - A red lockB - A green exclamation markC - A green lockD - A Yellow exclamation markQ 4 - A team wants to set up field searching in an HP Application Lifecycle Management project. What should they know to accomplish this?A - All system fields are searchable, which may impact search times.B - Only user fields of type memo or string are searchable.C - By default, all eligible fields are set to searchable.D - The searchable option is only available for the Test and Defects modules.Q 5 - In HP Sprinter, what comprises the Tests list?A - Tests that are currently under development in HP SprinterB - Tests that may be included in the tester's next runC - The list of tests comprising the currently opened test setD - Tests that have been activated for HP Sprinter executionQ 6 - How does the ALM Synchronizer operate?A - Through data mapping that occurs directly between databasesB - Through synchronization links that are established between end pointsC - Through scheduled API callsD - Through chronjobs doing command line calls to the backendQ 7 - Which feature determines the good, bad, or warning level for a KPIA - MilestoneB - Scope itemC - ThresholdD - KPI typeQ 8 - Which entities must be defined for Project Planning and Tracking?A - Only Release and KPIsB - Only Milestones, KPIs, and Scope ItemsC - Release, Milestones, KPIs, and RequirementsD - Release, Milestones, KPIs, and Scope ItemsQ 9 - What are solutions for running manual tests?A - HP QuickTest Professional, Manual RunnerB - Manual Runner, HP SprinterC - HP LoadRunner, HP SprinterD - HP QuickTest Professional,HP SprinterQ 10 - When should tests be automated? Selecttwo.1. When tests are executed only once2. When tests check a multi-user client/server system3. When tests require immediate execution4. When tests check how easy the application is to use5. When tests check the stability of application basic functionalityA - 1 and 3 onlyB - 2 and 5 OnlyC - 2 and 4 OnlyD - 4 and 5 onlyQ 11 - What are execution statuses of a test instance? Selecttwo.1. OK2. Completed3. Not Completed4. Blocked5. SuspendedA - 1 and 3 onlyB - 3 and 4 OnlyC - 2 and 4 OnlyD - 3 and 5 onlyQ 12 - How would you leverage test configurations to cover multiple requirements and avoid unneeded duplications?A - By associating different test configurations in multiple tests with each requirementB - By associating different test configurations in the same test with each requirementC - By associating the same test configuration in the same test with each requirementD - By associating the same test configuration in multiple tests with each requirementQ 13 - As the project administrator of a project that is linked to a template project, what can you do?A - Synchronize project customizations with the linked template project on demandB - Roll back project customizations if problems are detectedC - Request suspension of template customizations being appliedD - Run verification prior to synchronization with the template projectQ 14 - Which type of data can be added to a Dashboard page?A - ReleasesB - RequirementsC - ReportsD - GraphsQ 15 - What are supported test types out-of-the-box? Selectthree.1. LOAD-TEST2. CAPACITY-TEST3. BLACK-BOX-TEST4. LR-SCENARIO5. QUICKTEST TEST6. MANUALA - 12 and 3 onlyB - 45 and 6 OnlyC - 13 and 4 OnlyD - 24 and 6Q 16 - Which condition best allows leveraging of test configurations?A - The test is configurable.B - The test is manual.C - The test is automated.D - The test donot have parameters.Q 17 - Which application can you use to design a new Custom Report Template?A - Microsoft ExcelB - Microsoft WordC - HP Template GeneratorD - Document GeneratorQ 18 - What can you do in the Configuration tab of a report?A - Assign a report to a test stepB - Share reportsC - Link reports to test stepD - Select the report output formatQ 19 - What is required to create a Baseline Report?A - The baseline must support the history template.B - All report sections must support test configurations.C - All report sections must support baselines.D - The baseline must support the standard template.Q 20 - Which integrations for HP Application Lifecycle Management are supported by the Free HP ALM Mylyn Connector? Selecttwo.1. Microsoft TFS connector2. Bugzilla3. Collabnet connector4. CVS5. Rational CiearQuestA - 1 and 2 onlyB - 2 and 4 onlyC - 3 and 5 onlyD - 3 and 2 onlyQ 21 - From which tabs in the Test Lab module can you add tests to a test set? Selecttwo.1. Testing Tree tab2. Requirements Tree tab3. Test Plan Tree tab4. Releases Tree tab5. Cycle Tree tabA - 1 and 3 onlyB - 2 and 3 OnlyC - 4 and 5 OnlyD - 4 and 1 onlyQ 22 - What does assigning each Test Set folder to a Cycle enable you to do?.A - Group together test sets that will be run during the same cycle and analyze the progress of the cycle as you run your testsB - Separate test sets that will be run during the same cycle and analyze the progress of the cycle as you run your testsC - Group together test sets that will be run during different cycles and check the global requirementsD - Separate test sets that will be run during the same cycle and check the global requirementsQ 23 - What happens if a team member tries to delete a representative requirement?A - The deletion succeeds. The requirement coverage of the model entity is lost.B - The deletion fails. The representative requirements are read-only and are therefore protected from deletion.C - The deletion fails. The representative requirement is automatically made read-only, and an alert is optionally triggered.D - The deletion succeeds. The representative requirement is moved to the Obsolete folder.Q 24 - he business analyst team released a new version of the "Ship Product" Business Process model. What does HP Application Lifecycle Management do when it re-imports the model file?A - It unlinks all existing representative requirements associated with the model and activity entities, and creates and links new ones.B - It adds new path entities for any new alternate flows it detects.C - It creates new model and activity entities if any new models or activities are detected in the imported file based on name.D - It creates duplicate representative requirements for any re-imported activities that have different GUIDs than before.Q 25 - What can you do by creating a new Requirement Type? Selecttwo.1. Define a new KPI2. Define which fields are required3. Associate the new requirement with a Cycle4. Define a Rich Text Template5. Define new requirement coverage statusA - 1 and 3 onlyB - 2 and 4 OnlyC - 2 and 5 OnlyD - 1 and 3 OnlyANSWER SHEETQuestion Number Answer Key1A2C3A4B5B6B7A8D9B10B11B12B13C14D15B16B17B18D19C20B21B22A23A24D25BLoading [MathJax]/jax/output/HTML-CSS/jax.js。
2010 Level II Mock Exam: Morning SessionThe morning session of the 2009 Level II Chartered Financial Analyst® Mock Examination has 60 questions. To best simulate the exam day experience, candidates are advised to allocate an average of 18 minutes per item set (vignette and 6 multiple choice questions) for a total of 180 minutes (3 hours) for this session of the exam.By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal examTheresa Lecompte Case ScenarioTheresa Lecompte, CFA, is an equity analyst for Topaz Group, a large full-service financial firm that offers insurance, investment banking, brokerage and investment management services. Topaz has adopted the CFA Institute Research Objectivity Standards to demonstrate their commitment to managing and fully disclosing conflicts of interest to all investors th at have access to the firm’s research.Lecompte’s primary responsibility is to follow the information technology sector for the firm’s research department. She is working on two follow-up reports for NanoMem (NM) and UniFlash (UF). Topaz makes markets in both companies’ securities and Lecompte owns a small position in NM only.Lecompte has an excellent relationship with company officials at NM. In the past, LeCompte has made favorable recommendations regarding NM. In appreciation, she was invited to attend a company-sponsored event last December that was held at an exclusive ski resort overseas. NM paid all expenses relating to the trip and provided some excellent entertainment activities for the attendees. Lecompte disclosed this benefit to her supervisor at Topaz. Shortly thereafter, Topaz issued a secondary offering for NM. Lecompte believes that her excellent relationship with the firm played a large part in securing this business.However, Lecompte considers her relationship with UF to be contentious since company officials seem reluctant to share as much information with her as they have in the past. She believes the change in their behavior is a direct result of recent reports she has written on the company, which have been less than favorable. Prior to publication of her follow-up reports, Lecompte shares her report on NM in its entirety with top management at NM. She shares only the part of her report on UF that provides factual information with UF management.Lecompte’s compensati on at Topaz includes an annual salary plus a bonus based on both the accuracy of her recommendations over time and the overall profitability of the company. Topaz makes public disclosure of the extent to which research analyst compensation in general is de pendent upon the firm’s investment banking revenues. Following the release of her reports in early March, Lecompte is invited to appear on a television program to discuss her recommendations. During her appearance, she makes the following statements:1.“My firm makes markets in the securities of both NanoMem and UniFlashand I currently own a position in NanoMem .”2.“Although, I just issued my report on UniFlash which reflected a neutralrating, I really believe a sell rating is more appropriate.”By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal examWhen she returns to her office the following day, Lecompte is informed by her supervisor that a company official at UF called to express his disappointment and anger regarding the negative remarks she had made about UF during her television appearance. Lecompte states that she believes her deteriorating relationship with UF will make it difficult to effectively cover the company in the future and recommends that Topaz discontinue coverage of UF immediately.1.In sharing her research material with the subject companies, Lecompte most likelyviolated CFA Institute Research Objectivity Standards with respect to herreport(s) on:A.UniFlash.B.NanoMem.C.Both NanoMem and UniFlash.2.With respect to the company-sponsored event that Lecompte attended, did sheviolate any CFA Institute Standards?A.Yes.B.No, because she disclosed it to her employer.C.No, because the Standards permit entertainment as long as it is businessrelated.3.Regarding Lecompte’s compensation structure is Topaz in violation of CFAInstitute’s Research Objectively Standards?A.No.B.Yes, with respect to overall profitability of the firm.C.Yes, with respect to accuracy of her recommendations.4.According to the CFA Institute Research Objectivity Standards, does the firststatement Lecompte makes in her television appearance provide all therecommended disclosures relating to potential conflicts of interest?A.Yes.B.Only with respect to UniFlash.C.Only with respect to NanoMem.5.D oes Lecompte’s second statement during her TV appearance comply with theCFA Institute Research Objectivity Standards recommended procedures?A.Yes.B.No, with regard to her rating system.C.No, with regard to personal investmentsBy accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal exam6.With respect to Lecompte’s coverage of UniFlash, according to the CFA InstituteStandards, the least appropriate course of action for Topaz to take would be to:A.discontinue coverage.B.change assigned analyst.C.upgrade recommendation.By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal examErica Huang Case ScenarioErica Huang is a derivatives trading advisor for Eastern Funds Company with expertise in forward and futures markets and contracts. She helps Eastern’s portfolio managers to evaluate forward and futures contracts and to make appropriate decisions when the use of these derivatives is required.When working with the portfolio managers, who have varying levels of derivatives knowledge, Huang is asked for input on issues of both an analytical and a conceptual nature. Three managers have approached her with the situations described below. Some of her responses to the portfolio managers rely on the financial market information given in Exhibit 1.Exhibit 1Manager A, an equity manager, has two requests:1)Six months ago, to hedge against an expected decline in the value of a commonstock of which he held 100,000 shares, he entered into a forward contract to sellthe underlying stock at a price of $80. The forward contract has three months toexpiration and the stock is currently trading at $75. He wants to know the value of his current position on a per share basis.2)He expects equities to go up and would like to take a long position in a 180-dayforward contract on the Broad Equity Index, which a dealer has priced at1,285.88. He wants to know whether the forward contract is fairly priced. Manager B manages Eastern’s Global Fund whose shareholders have approved the use of derivatives for hedging purposes. Knowing that she will receive a yen dividend payment in 90 days, she wants to know at what forward price she can sell yen for dollars. She also wants to understand the risks, if any, of entering into a forward contract and asks the following question:By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal exam“If I agree to sell yen for dollars through a forward contract, am I guaranteed to be a ble to sell the number of yen at the price stated in the forward contract at its expiration?”Manager C is responsible for a commodity portfolio and asks Huang the following questions:1)“Because of mark-to-market, does a futures contract always have zero value?2) Do convenience yields impact futures prices?”ing a 360-day year, the current value of Manager A’s short position in the stockforward contract is closest to:A.$2.73.B.$3.84.C.$5.00.ing a 365-day year, Huang’s most appropriate response to Manager A withregard to the Broad Equity Index forward contract is that the contract is:A.fairly priced.B.not fairly priced because the no-arbitrage price should be 1,267.57.C.not fairly priced because the no-arbitrage price should be 1,268.36.ing a 365-day year, the 90-day yen/dollar forward price should be closest to:A.¥106.72/$US.B.¥110.67/$US.C.¥113.34/$US.10.Huang’s most appropriate response to Manager B’s question is no, because if theyen decreases in value compared to the dollar, Manager B:A.will terminate the forward contract early.B.faces the risk the other party will default at expiration.C.will pay a mark-to-market adjustment resulting in a higher overall cost.11.What is Huang’s most appropriate r esponse to Manager C’s first qu estion?A.Yes.B.No, a futures contract has a value based on the price change since its lastmark-to-market.C.No, a futures contract has a value based on the price change expected prior toexpiration.By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal exam12.Huang’s most appropriate r esponse to Manager C’s second question is they will:A.increase the futures price.B.decrease the futures price.C.not impact the futures price.By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal examYeongsan Securities Case ScenarioHee-young Park, CFA is a senior portfolio manager at Yeongsan Securities, a Korean investment management firm. She manages the fi rm’s U.S. fixed income investments.Yeongsan owns $15 million in Alleghany Manufacturing Corp bonds. In preparation for analyzing the credit quality of the Alleghany bonds, Park has gathered financial data for the firm for 2007-2009, which is presented in Exhibit 1 below.Exhibit 1Alleghany Financial DataThe bonds ar e currently rated BB by Standard & Poor’s. Park knows that the major credit rating agencies consider many aspects of Alleghany’s financial condition and operations when determining its credit rating. In particular, Park believes that the ratings agencies will:Factor 1: focus on Alleghany’s cash flows from investing, rather than itscash flows from financing activities, as the best measure of itsability to service debt.Factor 2: look favorably on the fact that most of Alleghany’s seniormanagement compensation is performance based.By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal examFactor 3: expect to see periodic certification by Alleghany that it is incompliance with all of the bond’s covenants.Park is evaluating a number of other securities for possible purchase. The bonds being considered include callable and non-callable corporate bonds with the same credit rating. Park wants a measure of how cheap or rich each security is relative to the others.In addition to managing credit risk, Park is responsible for managing the interest rate risk of her portfolios. She measures the interest rate risk of each portfolio for four maturities; 2, 5, 10, and 20 years. Each portfolio’s interest rate sensitivity is measured for a variety of yield curve change scenarios. Exhibit 2 below shows one portfolio’s d ollar exposure to the four maturities, the key rate duration of maturity, the current yield at each maturity, and three yield curve scenarios.Exhibit 213.Alleghany’s pretax return on capital indicates that its financial performance hasmost likely:A.improved.B.worsened.C.stayed the same.14.Which of these ratios suggest Alleghany’s credit worthiness improved from 2007to 2009?A.Operating income/salesB.EBITDA interest coverageC.Long-term debt/capitalizationBy accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal exam15.Of the factors Park believes will be important in the rating of Alleghany’s bonds,which is most likely incorrect?A.Factor 1.B.Factor 2.C.Factor 3.16.The measure of security richness or cheapness that best meets Park’srequirements is the:A.nominal spread.B.zero-volatility spread.C.option-adjusted spread.17.Which of the yield curve scenarios listed in Exhibit 2 will cause the largest loss inthe portfolio that is described in the same table?A.Scenario 1B.Scenario 2C.Scenario 318.Yield curve scenario 3 in Exhibit 2 is best described as an example of:A.a flattening of the curve.B. a positive butterfly shift.C.an upward parallel shift.By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal examJoan Hammond Case ScenarioJoan Hammond is the manager of S parta Corporation’s pension fund. She recently presented her quarterly report to the fund’s board of directors, and is recommending a change in the fund’s asset allocation. Based on her market expectations, she recommends an allocation of 30 percent of assets to value stocks, 50 percent to growth stocks, and 20 percent to bonds. Hammond’s market expectations are shown in Exhibit 1.Exhibit 1Board member Benjamin Donner is skeptical about the recommended change in asset allocation for the pension fund, and he has several questions for Hammond. He asks Hammond to describe the risk and return characteristics of her recommended portfolio. Hammond responds:“I believe that the recommended asset allocation will produce a portfolio that isthe global minimum-variance portfolio. The global minimum-variance portfoliohas the lowest level of risk compared to all other portfolios on the efficientfrontier and therefore it also dominates all other portfolios on the efficientfrontier.”Donner argues that Hammond should consider broadening the diversification of the fund’s portfolio into a “fully diversified portfolio” by adding real estate and international stocks. He states that these additions will improve the efficiency of the fund. Donner estimates that the “fully diversified portfolio” would have an expected return of 13 percent and a standard deviation of 15 percent. He would then further expand the investment opportunity set by combining the p roposed “fully diversified portfolio” with either risk-free borrowing or lending. He notes that the appropriate risk-free rate of return is 4 percent.By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal examFinally, Donner recommends that Hammond include a fundamental factor model analysis in future reports. Donner states that fundamental factor models relate asset returns both to surprises in macroeconomic variables and to company attributes such as market capitalization. He believes such an analysis will be beneficial in making future asset allocation decisions.ing Hammond’s recommended asset allocation and return expectations, theexpected standard deviation of annual returns for the pension fund’s portfolio isclosest to:A.12.1%.B.15.9%.C.17.4%.20.If Hammond wants to achieve an expected annual return of 12.5% whilemaintaining the pension fund’s current 20% allocation to bonds, the proportion of the fund’s assets that should be allocated to value stocks is closest to:A.15%.B.65%.C.75%.21.Hammond’s statement about the risk level and dominance of the globalminimum-variance is?A.correct about risk level and correct about dominance.B.correct about risk level but incorrect about dominance.C.incorrect about risk level but correct about dominance.22.If Donner wants to construct an optimal portfolio that has an expected standarddeviation of annual returns of 12percent, he should combine his proposed “fully-diversified portfolio” with which of the following actions?A.Lend 20% of total assets.B.Lend 80% of total assets.C.Borrow 20% of total assets.23.If Donner uses his p roposed “fully-diversified portfolio” to construct an optimalportfolio that has an expected standard deviation of annual returns of 12 percent, the expected annual return for the resulting portfolio is closest to:A.7.2%.B.11.2%.C.14.4%.By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal exam24.Is Donner’s descrip tion of the factor model he recommends to Hammond correct?A.Yes.B.No, he is incorrect about surprises in macroeconomic variables and correctabout company attributes.C.No, he is correct about surprises in macroeconomic variables and incorrectabout company attributes.By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal examDiotrephes Foundation Case ScenarioAydin Yusuf, CFA, is director of investments for the Diotrephes Foundation, a non-profit that supports Turkish artistic and cultural events in the U.S. Yusuf has lowered his return expectations for the por tfolio’s equity and fixed income holdings for the next two years. In order to improve the portfolio’s return, he is considering allocations to additional asset classes, including alternative investments. His current focus is commodities and hedge funds.After a careful assessment of investing in commodities, Yusuf decides that he will seek investments in those commodities that are most likely to produce positive “roll yield.” Yusuf is also considering investments that will track a broad commodity index. He is confused, however, by reports that illustrate that while the long-run geometric return of the average commodity was close to zero, the geometric return of the commodity index for the same period was strongly positive. He wants to do further analysis into the cause of this apparent disparity.Yusuf focuses on establishing goals for hedge fund investments before making any investment decisions about specific hedge funds or hedge fund strategies. He decides that Diotrephes will benchmark hedge fund investments against the 30-day Treasury bill rate plus a spread of 250 bps. Yusuf considered other benchmarks, including hedge fund indexes. He found that there are numerous statistical problems associated with these indexes, including:Problem 1: backfill bias may overestimate returns.Problem 2: the funds in each index are subject to turnover.Problem 3: autocorrelation in returns may overestimate volatility.Yusuf understands that hedge fund investments will be substantially riskier than the portfolio’s investments in fixed income and equities. Yusuf decides to use maximum drawdown as a risk measure to compare the risks of the hedge funds that he is considering for the portfolio. After his analysis is completed, Yusuf identifies a multi-strategy hedge fund that invests in fixed income, equities, and commodities.25.The commodities in which Yusuf invests are most likely to have:A.few limitations to storage.B.prices that are volatile and at historic lows.C.prices that are volatile and at historic highs.26.Yusuf’s confusion about commodity index returns is best explained by:A.misreporting of historical index values.B.changes in the index constituents over time.C.rebalancing of the index due to commodity price changes.By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal exam27.Yusuf’s intended benchmark for hedge fund invest ments would be mostappropriate for:A.distressed securities funds.B.equity market neutral funds.C.fixed income arbitrage funds.28.Of the problems with hedge fund indices that Yusuf has identified, which is mostlikely incorrect?A.Problem 1B.Problem 2C.Problem 329.The hedge fund risk measure that Yusuf selects:A.typically assumes that returns are normally distributed.B.measures the probability that a loss of a certain size will occur.C.focuses on the minimum value between successive maximum values.30.The hedge fund Yusuf identifies is least likely to be at risk of:A.style drift.B.changes in credit spreads.C.rising correlations between equity and fixed income.By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal examMerick Manufacturing Case ScenarioMerick Manufacturing is a U.S. based textile manufacturer whose equity securities are listed on the New York Stock Exchange and the London Stock Exchange. Merick prepares financial statements under both U.S. Generally Accepted Accounting Principles (U.S. GAAP) and International Financial Reporting Standards (IFRS). On 1 January 2009, Merick acquired 50 percent of the equity of Lisam, Inc., a small international textile manufacturer. The purchase price was $500 million in cash. The remaining 50 percent equity in Lisam is owned by a governmental entity outside of the U.S.Kim King, CFA, has been assigned the task of determining the potential effect of the acquisition on Merick’s reported financial results using both U.S. GAAP and IFRS. She is particularly interested in the potential effect on various financial ratios that might occur if the equity method is used. King is unsure at this point whether Merick will account for the acquisition using the equity method, proportionate consolidation method, or consolidation method. She has tentatively concluded, however, that under U.S. GAAP Merick is unlikely to have control over Lisam, but that under IFRS Merick is likely to be deemed to have joint control. Even if Merick uses the particular accounting methods prescribed by U.S. GAAP and IFRS, King may produce financial statements with alternative methods to improve financial information for users.King uses historical 31 December 2008 balance sheets (Exhibit 1) and projected income statements for the year ending 31 December 2009 (Exhibit 2) for Merick and Lisam to determine how the financial results and ratios may differ under each of the three acquisition accounting methods. The balance sheet was prepared immediately following the acquisition, but the projected income statements do not reflect the acquisition, and there are no inter-company transactions between Merick and Lisam. For ratio computation purposes, King uses beginning-of-year balance sheet values rather than average balance sheet values. She considers this appropriate because year-end projected balance sheets are expected to remain essentially unchanged for both firms other than the direct effects of the acquisition. The fair values of Lisam’s assets and liabilities at 31 December 2008 are equal to their historical reported amounts.By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal examBy accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal examBalance Sheets on 31 December 2008 (Immediately Following Acquisition)Cash InventoryOther Current Assets Total Current Assets Plant and EquipmentAccumulated Depreciation Long-term investment Other Non-current Assets Total AssetsShort-term DebtOther Current Liabilities Total Current Liabilities Long-term Debt Total Liabilities Common Stock Retained Earnings Shareholders’ Equity Total Liabilities and Shareholders’ EquityBy accessing this mock exam, you agree to the following terms of use: This mock exam is provided tocurrently-registered CFA candidates. Candidates may view and print the exam for personal examProjected Income Statements for the Year Ending 31 December 2009Prior to the determination of Investment IncomeNet SalesCost of Goods SoldGross ProfitDepreciation ExpenseOther ExpensesOperating IncomeInterest ExpensePretax IncomeIncome TaxesNet Income31. If King’s tentative conclusions about Merick’s control are correct, the equity method is most likely the preferred method for accounting for the acquisition under:A. IFRS only.B. U.S. GAAP only.C. both U.S. GAAP and IFRS.32. Immediately after t he acquisition, Merick’s current ratio would most likely be lowest under which method?A. EquityB. ConsolidationC. Proportionate consolidation33. If Merick uses the preferred method for accounting for the acquisition under IFRS, the long-term debt to total asset ratio (%) would be closest to:A. 29.B. 32.C. 35.34.After incorporating Lisam’s projected results Merick’s gross profit margin for theyear ending 31 December 2009 will be most likely be highest under:A.Consolidation.B.The equity method.C.Proportionate consolidation.35.After incorporating Lisam’s projected results Merick’s times interest earned forthe year ending 31 December 2009 will most likely be highest under:A.equity.B.consolidation.C.proportionate consolidation.36.If Merick prepared a consolidated balance sheet on the date of acquisition thetotal shareholders’ equity ($) under U.S. GAAP will be closest to:A.1,300.B.1,800.C.2,300.By accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal examBy accessing this mock exam, you agree to the following terms of use: This mock exam is provided to currently-registered CFA candidates. Candidates may view and print the exam for personal examGalaxy Electronics Case ScenarioGalaxy Electronics Ltd. (Galaxy) is a manufacturer and distributor of personal computers and hand-held electronic personal organizers. The company had grown rapidly from its inception in 2004 to 2008 but in early 2009, sales growth has slowed significantly and Nadeen Bhatty, the VP Finance, thought that it was a good time for Galaxy to review its accounting methods and ensure they were appropriate for an established company.As a public company they are required to prepare their financial statements in accordance with U.S. GAAP. To this end, the company made the following changes in its accounting methods and estimates in 2009:● Galaxy produces the computers and organizers based on orders received. A25% deposit is required on all orders and then Galaxy manufactures andusually ships the units in 2 to 6 weeks. Some orders are placed even further in advance, while some shipments may not occur for up to 3 months following an order. Galaxy had been recording a sale when the product was shipped but now that they were more established, Bhatty changed the revenue recognition point to when the deposits were received. “If the products are made to order, then the critical event is when we receive the order,” she explained. As at August 31, 2009, they had received deposits of $3 million for orders yet to be shipped.The company provides a one-year warranty on their products and records it as a selling and administrative expense at the time of sale. Now, after five years experience with the products, they realized that the actual claims made have been less than the amounts they were accruing. In 2009, the related warranty accounts were adjusted to reflect the new estimated rates.On September 1, 2009, as a result of competitive pressures in the labor market and in recognition of their outstanding work in recent years, the company introduced a restricted stock grant program to all employees who had worked for the company for three years or more. The fair value of the stock on the grant date was $4.2 million; the employee had to remain with the company for 3 years for the shares to vest. While the average volatili ty of the company’s stock had been in the 38%-42% range in the past three years, with the recent decline in growth that the firm was experiencing, the stock’s volatility had declined to the 19%-24% range.Comparative income statements and balance sheets for Galaxy over the past few years are in Exhibit 1.。
NexusIQ测试题答案一、选择题1. NexusIQ是一款由哪个公司开发的软件?- A. Black Duck Software- B. Synopsys- C. IBM- D. Microsoft正确答案:A2. NexusIQ的主要功能是什么?- A. 项目管理- B. 代码审查- C. 容器镜像扫描- D. 应用程序性能监控正确答案:C3. NexusIQ支持扫描哪些类型的软件组件?- A. 开源软件- B. 商业软件- C. 自定义软件- D. 所有以上正确答案:D4. 在NexusIQ中,哪个术语用来描述软件组件之间的依赖关系? - A. 漏洞- B. 许可证- C. 风险- D. 网络正确答案:D5. NexusIQ的许可证管理功能可以帮助用户做什么?- A. 跟踪许可证合规性- B. 优化许可证成本- C. 两者都是- D. 两者都不是正确答案:C二、判断题1. NexusIQ可以集成到CI/CD流程中,自动化扫描过程。
(正确)2. NexusIQ只支持扫描Java语言编写的应用程序。
(错误)3. NexusIQ能够提供关于开源项目的具体漏洞信息。
(正确)4. NexusIQ无法帮助用户管理非开源的商业软件组件。
(错误)5. NexusIQ的报告功能仅限于基本的合规性报告。
(错误)三、简答题1. 请简述NexusIQ如何帮助企业确保软件供应链的安全性。
答:NexusIQ通过对软件组件进行自动化扫描,识别和报告开源和商业组件中的已知漏洞、许可证合规性问题以及潜在的版权问题。
它还能够追踪组件之间的依赖关系,帮助企业构建一个清晰的软件供应链视图,从而确保软件供应链的安全性。
2. NexusIQ在处理许可证合规性方面有哪些优势?答:NexusIQ具备强大的许可证管理功能,能够识别和跟踪软件组件使用的各种开源和商业许可证。
它提供了详细的许可证合规性报告,帮助企业遵守相关的法律和规定,避免因许可证问题导致的法律风险。
使用Mock工具进行单元测试在软件开发的过程中,单元测试是一项重要的质量保证手段。
通过对代码的单元进行测试,可以提前发现并修复潜在的Bug,提高代码的健壮性。
而为了有效地进行单元测试,我们可以借助Mock工具来模拟依赖项,使得测试更加可控和独立。
1. Mock工具的作用在软件开发中,我们常常会依赖于外部系统、数据库、服务等,这些依赖项的状态可能会受到各种因素的影响,难以在单元测试中进行控制。
而Mock工具的作用就是在测试过程中,模拟这些依赖项的行为、返回值等,使得测试过程更加可控。
2. 常见的Mock工具目前,市面上有许多成熟的Mock工具可供选择,如Mockito、PowerMock、EasyMock等。
这些工具都提供了丰富的API,能够满足不同测试场景的需求。
本文以Mockito为例,探讨Mock工具的使用。
3. 实例:模拟依赖项假设我们正在开发一个电子商务平台,需要对订单系统进行单元测试。
订单系统依赖于库存系统的状态,根据库存的情况判断订单是否能够成功创建。
我们可以使用Mockito来模拟库存系统的行为。
首先,我们需要定义库存系统的接口:```javapublic interface InventorySystem {boolean checkAvailability(String productId, int quantity);}```然后,在订单系统中通过依赖注入的方式引入库存系统:```javapublic class OrderSystem {private InventorySystem inventorySystem;public OrderSystem(InventorySystem inventorySystem) { = inventorySystem;}public boolean createOrder(String productId, int quantity) {if ((productId, quantity)) {// 创建订单的逻辑return true;} else {return false;}}}```接下来,我们可以使用Mockito来模拟库存系统的行为:```javapublic class OrderSystemTest {@Testpublic void testCreateOrder() {InventorySystem inventorySystem = ();(("123", 1)).thenReturn(true);OrderSystem orderSystem = new OrderSystem(inventorySystem);boolean result = ("123", 1);(result);}}```在这个例子中,我们使用Mockito的`mock`方法创建了一个库存系统的Mock对象,并指定了当调用`checkAvailability`方法时,传入指定的参数,返回预期的结果。
Internal control questionnairesInternal control questionnaires (ICQs) comprise a series of questions on each key transaction cycle (sales, purchases etc) which seek to determine whether a control exists.Examples:“Is a bank reconciliation performed each month?” Yes / No / Comments Advantage:ICQs identify where internal controls exist, are quick to prepare and can be completed by junior staff.Disadvantage:They can, however, give a distorted view of the entity’s internal controls as there is no weighting of more important controls. They may not be relevant to unusual systems.Internal control evaluation questionnaires Internal control evaluation questionnaires (ICEQs) are slightly more robust in that they ask questions which enable the auditor to elicit the controls which exist.A questionnaire listing control objectives, that requires the client to explain how they meet each objective.The auditor would only ever test the internal controls to gain audit evidence if the initial assessment indicates that the controls are relevantto the financial statement assertions and appear to be operatingeffectively.ICEQs exampleIs there reasonable assurance that “Goods cannot be received without an associated liability being recorded in the accounting records?”“Yes, because a sequentially numbered, multi-part goods received note is generated upon receipt of the goods and one copy passed to the accounts department. This is then filed whilst we wait for the supplier’s invoice. This file is then reviewed at the end of each month and an accrual made for any goods received which have not yet been invoiced”.There are number of possible ways in which the auditor can document internal control systems. The method adopted is a matter of judgment. In relation to documenting internal control systems, which method is described by the following statement?A questionnaire listing control objectives, that requires the client to explain how they meet each objectiveA.Narrative notesB.Internal Control QuestionnaireC.Internal Control Evaluation QuestionnaireWhich of the following methods of recording an accounting and controls system is a series of questions used to determine whether controls exist which meet specific control objectives?A.Internal control questionnaireB.Internal control evaluation questionnaireC.FlowchartIs the following statement regarding internal control questionnaires true or false?Internal control questionnaires are used to determine whether there are controls which prevent or detect specified errors or omissions.A.TrueB.FalseDec 2014 Q9Which of the following is a DISADVANTAGE of recording accounting and control systems using internal control questionnaires?A.They may contain a large number of irrelevant controlsB.It can be difficult to identify missing controlsC.They are time consuming to complete。
FMU SDK 2.0.6The FMU SDK is a free software development kit provided by Synopsys. The FMU SDK demonstrates basic use of Functional Mockup Units (FMUs) as defined by the following specifications •Functional Mock-up Interface for Model Exchange and Co-Simulation 2.0 (July 25, 2014)•Functional Mock-up Interface for Model Exchange 1.0 (January 26, 2010)•Functional Mock-up Interface for Co-Simulation 1.0 (October 12, 2010)The FMI specifications are available from here. The FMU SDK can also serve as starting point for developing applications that create or process FMUs.For each of the supported FMI versions (currently 1.0 and 2.0), the FMU SDK contains the C sources for various discrete and continuous FMU models, a batch file for compiling and zip'ing these models, an XML parser for parsing the model description of an FMU and two simple simulation programs that run a given FMU and output the result as CSV file.For bug reports, questions or comments regarding the FMU SDK, please mail to ***********************. Questions or comments regarding the FMU specification should be sent to info@.Table of Contents•Building and Installing the FMU SDK•Simulating an FMU•Creating your own FMUs•FMU SDK Revision history•License conditionsInstalling the FMU SDKThe FMU SDK runs on all 32 bit and 64 bit Windows platforms, Linux and Mac OS X platforms. Unzip the file in a directory where you have write access. That directory is called FMUSDK_HOME below and may contain white space, such as in "C:\Program Files\fmusdk". The FMU SDK contains only the C sources of the FMUs and the simulators, not the executables, and should compile on all Windows, Linux and Mac OS X platforms.To build Windows 32 bit versions of all FMUs and simulators of the FMU SDK, double click on FMUSDK_HOME\install.bat. This should create fmus in FMUSDK_HOME\fmu10\fmu andFMUSDK_HOME\fmu20\fmu, as well as four simulators in FMUSDK_HOME\fmu10\bin and FMUSDK_HOME\fmu20\bin.To build Windows 64 bit versions of all FMUs and simulators, open a command shell and run "install -win64". This creates additional fmus in the x64 subdirectories in FMUSDK_HOME\fmu10\fmu and FMUSDK_HOME\fmu20\fmu, as well as additional simulators in FMUSDK_HOME\fmu10\bin\x64 andFMUSDK_HOME\fmu20\bin\x64. Building these 64 bit versions works also on 32 bit Windows platforms. Execution of the 64 bit simulators and fmus requires however a 64 bit version of Windows. Compilation using install.bat requires that you have installed one of Microsoft Visual Studio 2005 (VS8), 2008 (VS9), 2010 (VS10), 2012 (VS11), 2013 (VS12) or 2015 (VS14), for example the free Express Edition. To compile with another compiler, adapt the batch files.To build Linux or Mac OS X binaries of all FMUs and simulators, open command shell and run "make". The build requires that you have installed the C and C++ compilers, libexpat and libxml2 libraries. To install these dependencies on Linux you can use a package manager like "sudo apt install g++", "sudo apt install libexpat1-dev", "sudo apt install libxml2-dev".Simulating an FMUOn Windows, to run a given FMU with one of the FMU simulators, open a command shell in directory FMUSDK_HOME and run the command fmusimfmusim simulator model.fmu [tEnd [h [loggingOn [csvSeparator]]]] [-win64]simulator ..... cs10 or cs20 for co-simulation, me10 or me20 for model exchange, requiredmodel.fmu ..... path to FMU, relative to current dir or absolute, required tEnd .......... end time of simulation, optional, defaults to 1.0 sech ............. step size of simulation, optional, defaults to 0.1 secloggingOn ..... 1 to activate logging, optional, defaults to 0csvSeparator .. c for comma, s for semicolon, optional, defaults to c-win64 ........ to use a 64 bit simulator. By default, the 32 bit version is usedThis unzips the given FMU, parses the contained modelDescription.xml file, simulates the FMU from t=0 to t=tEnd, and writes the solution to file 'result.csv'. The file is written in CSV format (comma-separated values), using ';' to separate columns and using ',' instead of '.' as decimal dot to print floating-point numbers. To change the result file format, use the 'csv separator' option. The logging option activates logging of the simulated FMU. The FMI specification does not specify, what exactly to log in this case. However, when logging is switched on, the sample FMUs of the FMU SDK log every single FMU function call. Moreover, the fmusim simulators log every step and every event that is detected. Example command:> fmusim me10 fmu10/fmu/me/bouncingBall.fmu 5 0.1 0 sFMU Simulator: run 'fmu/bouncingBall.fmu' from t=0..5 with step size h=0.1, loggingOn=0, csv separator=';'Simulation from 0 to 5 terminated successfulsteps (51)fixed step size .. 0.1time events 0state events (14)step events 0CSV file 'result.csv' writtenOn Linux and Mac OS X get inspired by run_all target inside FMUSDK_HOME\makefile.To plot the result file, open it e.g. in a spread-sheet program, suchas Miscrosoft Excel or OpenOffice Calc. The figure below shows the result of the above simulation when plotted using OpenOffice Calc3.0. Note that the height h of the bouncing ball as computed byfmusim becomes negative at the contact points, while the true solution of the FMU does actually not contain negative height values. This is not a limitation of the FMU, but of fmusim_me, which does not attempt to locate the exact time of state events. To improve this, either reduce the step size or add your own procedure for state-event location to fmusim_me.Creating your own FMUsThe FMU SDK contains a few sample FMUs•dq the Dahlquist test function x = -k der(x)•inc increments an integer counter every second•values demonstrates the use of all scalar FMU data types•vanDerPol ODE with 2 continuous states•bouncingBall a bouncing ball that defines state eventsTo implement your own FMU using the FMU SDK, create a directory - say xy - in FMUSDK_HOME\fmu10\src\models, orFMUSDK_HOME\fmu20\src\models, and create files xy.c there. The name of the new directory and of the .c file must be the same. The content of the .c file should follow the existing FMU examples, see the comments in the example code. For FMI 1.0, add also file modelDescription.xml. The XML file must not containthe <implementation> element and the closing <fmiModelDescription> tag, because this is added automatically during build. For FMI 2.0, add file modelDescription_cs.xml and modelDescription_me.xml. When done with editing xy.c and the xml file (or files), open a command shell in FMUSDK_HOME\fmu10\src\models or inFMUSDK_HOME\fmu20\src\models to run the build command.On Windows, run command build_fmu me xy to build an FMU for model-exchange, or build_fmu cs xy to build an FMU for co-simulation. This should create a 32 bit FMU file xy.fmu in the corresponding subdirectory of FMUSDK_HOME\fmu10 or FMUSDK_HOME\fmu20. To build a 64-bit FMU, append option -win64 to the build command. For Linux and Mac OS X get inspired by all target insideFMUSDK_HOME\fmu10\src\models\makefile andFMUSDK_HOME\fmu20\src\models\makefile.The figure below might help to create or process the XML file modelDescription.xml. It shows all XML elements (without attributes) used in the schema files (XSD) for model exchange and co-simulation 1.0. Notation: UML classdiagram.For the case of FMU 2.0, see the corresponding overview figure in the FMI specification 2.0.FMU SDK Revision history•07.02.2010, Version 1.0o First releaseo demo FMI for Model Exchange 1.0•05.03.2010, Version 1.0.1o demo FMI for Model Exchange 1.0o bug-fix in fmuTemplate.c: fmiSetString now copies the passed string argument and fmiFreeModelInstance freesall string copieso fmusim/main.c: removed strerror(GetLastError()) from error messages•22.08.2011, Version 1.0.2o demo FMI for Model Exchange 1.0 and FMI for Co-Simulation 1.0o added support for FMI for Co-Simulation 1.0 (standalone, no tool coupling)o bug-fix in fmusim/main.c: added missing calls tofmiTerminate and fmiFreeModelInstance•07.03.2014, Version 2.0.0o demo FMI for versions 1.0 and 2.0 RC1o added support for FMI 2.0 RC1o added 64 bit supporto more compilers recognized by the installer•16.04.2014, Version 2.0.1o bug-fix in modelDescription.xml files: remove alias parameter, add derivative attribute to suitable variables o bug-fix in fmu20/fmuTemplate.c: allow modules to request termination of simulation, better time eventhandling, initialize() moved from fmiEnterInitialization tofmiExitInitialization, correct logging message format infmiDoStepo bug-fix in Co-Simulation and Model Exchange simulators: set fmu location for 1.0 and fmu resources location for2.0 at instantiation of model•02.07.2014, Version 2.0.2o added support for FMI 2.0 RC2o remove support for exporting FMI 2.0 RC1. Co-Simulation and Model Exchange simulators still support FMI 2.0 RC1 o fmi2setDebugLogging called with 0 categories, set all categories to loggingOn value•27.08.2014, Version 2.0.3o track all states of Model-exchange and Co-simulation and check the allowed calling sequences for FMI 2.0 o added explicit 'isTimeEvent' parameter for eventUpdate function in the user's modelso lazy computation of computed valueso bug-fix in modelDescription.xml: set initial attribute to local and output variables, add unknown variables in<ModelStructure><InitialUnknowns> section•20.10.2015, Version 2.0.4o added explicit 'isNewEventIteration' parameter for eventUpdate function in the user's modelso bouncingBall example improvement: demonstrate tunable parameters, avoid 'fall through effect' due to numericalcalculationo bug-fix: allow to declare real variables and zero states ina modelo bug-fix: allow to simulate FMI 2.0 RC1 modelso bug-fix: remove memory leaks and compilation warnings •8.12.2017, Version 2.0.5o added support for Linux and Mac OS X. Thanks toChristopher Brooks (https:///cxbrooks) o added support for building with Microsoft VS 2015o location of simulators changes toFMUSDK_HOME\fmu10\bin andFMUSDK_HOME\fmu20\bin instead of FMUSDK_HOME\bin o fmu20 build define DISABLE_PREFIX to not use prefixed FMI functionso fmu20 models declare source files inModelDescription.xmlo log error messages regardless of loggingOn flag when functions return fmi2Erroro bug-fix: allow to declare real variables and zero states •20.07.2018, Version 2.0.6o update libxml2.lib to work for windows 7 and Visual Studio 2013 and 2015o linux - give exec right to build_fmu.sh before executing ito copy .h model files with rsync to avoid missing file error License conditionsThe FMU SDK is provided by QTronic under the BSD License.FMU SDK licenseCopyright © 2008-2019, Synopsys, Inc. All rights reserved.The FmuSdk is licensed by the copyright holder under the BSD License(/licenses/bsd-license.html):Redistribution and use in source and binary forms, with or without modification, are permitted provided that the following conditions are met:- Redistributions of source code must retain the above copyright notice,this list of conditions and the following disclaimer.- Redistributions in binary form must reproduce the above copyright notice,this list of conditions and the following disclaimer in the documentationand/or other materials provided with the distribution.THIS SOFTWARE IS PROVIDED BY SYNOPSYS INC. "AS IS" AND ANY EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIESOF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE ARE DISCLAIMED.IN NO EVENT SHALL SYNOPSYS INC. BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATA, OR PROFITS; OR BUSINESS INTERRUPTION) HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, STRICT LIABILITY, OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANY WAY OUT OF THE USE OF THIS SOFTWARE, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.The following additional tools are distributed with the FMU SDK under their respective licenses•7z 4.57 by Igor Pavlov. Used here to zip and unzip FMUs, license is here.•eXpat 2.0.1 by James Clark. Used here to parse the modelDescription.xml file of an FMU 1.0, license is here.•libxml, the XML C parser and toolkit of Gnome. Used here to parse the modelDescription.xml file of an FMU 2.0, licenseis here.。
通知:CFA协会官网mock题打不开要这样解决!近两天,很多CFA考生来咨询高顿君关于CFA协会官网的mock和practice题目页面进不去是什么原因,怎么解决的问题,高顿君为此特别去了解了一下相关情况,接下来给大家分享此情况的解决办法:对此,有部分考生向CFA协会发送了邮件进行询问,CFA协会官网也作出了回应。
CFA协会官网邮件截图:CFA协会原话翻译:敬爱的女士我很遗憾地得知您在访问在线学习资料时遇到的麻烦。
请关闭您的网络浏览器并删除您的互联网缓存和cookies。
一旦完成,请使用备用网络浏览器再次尝试此过程。
GoogleChrome最兼容)如果问题仍然存在,请回复此电子邮件,并附上您可能收到的错误或无效页面的完整屏幕截图,以帮助您进一步排除故障以及您的全名和出生日期。
我希望这是有帮助的问候萨曼莎全球联络中心CFA协会CFA考生注意:如果你在访问CFA协会官网的mock题时遇到打不开的情况,请根据以上CFA协会邮件内容中提到的解决办法进行操作;CFA考试快要到了,抓紧时间做一些试题,更好地备考。
CFA协会原话:Dear madamI am sorry to learn of the trouble you experienced while accessing your online study material.please close your web browser and delete your internet cacheand cookies.Once complete,please attempt this process again with an alternate web browser.Google Chrome is most compatible)if the problem persists please reply to this email with full screenshots of errors or invalid pages you maybe receiving to assist further troubleshooting as well as your full name and date of birth.I hope this is helpfulRegardsSamantha Global Contact Center CFA Institute6.15日:亚洲地区CFA二三级,北美及EMEA所有级别6.16:亚洲地区CFA一级,宗教备选日北美及EMEA所有级别6.17:宗教备选日(亚洲,所有级别)根据往年情况,CFA考试当天,去往考场路段比较容易出现堵车现象,建议CFA考生在考试当天早点出发,或在CFA考场附近预定一个酒店,用于考试前一天晚上居住。
moq的常⽤使⽤⽅法测试⽅法1// 准备 Mock IFoo 接⼝2 var mock = new Mock<IFoo>();3// 配置准备模拟的⽅法,当调⽤接⼝中的 DoSomething ⽅法,并传递参数 "bing" 的时候,返回 true 4 mock.Setup(foo => foo.DoSomething("ping")).Returns(true);56// ⽅法的参数中使⽤了 out 参数7// out arguments8 var outString = "ack";9// 当调⽤ TryParse ⽅法的时候,out 参数返回 "ack", ⽅法返回 true, lazy evaluated10 mock.Setup(foo => foo.TryParse("ping", out outString)).Returns(true);1112// ref 参数13 var instance = new Bar();14// 仅仅在使⽤ ref 调⽤的时候,才会匹配下⾯的测试15 mock.Setup(foo => foo.Submit(ref instance)).Returns(true);1617// 当⽅法返回值得时候,还可以访问返回的值18// 这⾥可以使⽤多个参数19 mock.Setup(x => x.DoSomething(It.IsAny<string>()))20 .Returns((string s) => s.ToLower());2122// 在被调⽤的时候抛出异常23 mock.Setup(foo => foo.DoSomething("reset")).Throws<InvalidOperationException>();24 mock.Setup(foo => foo.DoSomething("")).Throws(new ArgumentException("command");2526// 延迟计算返回的结果27 mock.Setup(foo => foo.GetCount()).Returns(() => count);2829// 在每⼀次调⽤的时候,返回不同的值30 var mock = new Mock<IFoo>();31 var calls = 0;32 mock.Setup(foo => foo.GetCountThing())33 .Returns(() => calls)34 .Callback(() => calls++);3536// 第⼀次调⽤返回 0,下⼀次是 1,依次类推37 Console.WriteLine(mock.Object.GetCountThing());匹配参数1// 任意值2 mock.Setup(foo => foo.DoSomething(It.IsAny<string>())).Returns(true);34// 提供的值必须匹配⼀个函数, lazy evaluated5 mock.Setup(foo => foo.Add(It.Is<int>(i => i % 2 == 0))).Returns(true);67// 匹配⼀个范围8 mock.Setup(foo => foo.Add(It.IsInRange<int>(0, 10, Range.Inclusive))).Returns(true);910// 匹配正则表达式11 mock.Setup(x => x.DoSomething(It.IsRegex("[a-d]+", RegexOptions.IgnoreCase))).Returns("foo");属性1// 普通属性2 mock.Setup(foo => ).Returns("bar");34// 多层的属性5 mock.Setup(foo => ).Returns("baz");67// 期望设置属性的值为 "foo"8 mock.SetupSet(foo => = "foo");910// 或者直接验证赋值11 mock.VerifySet(foo => = "foo");设置属性,以便⾃动跟踪它的值1// 开始 "tracking" 属性的 sets/gets2 mock.SetupProperty(f => );34// 提供⼀个默认的值5 mock.SetupProperty(f => , "foo");67// 现在,你可以:8 IFoo foo = mock.Object;910// 保存的值11 Assert.Equal("foo", );1213// 重新设置⼀个值14 = "bar";15 Assert.Equal("bar", );还可以准备所有的属性mock.SetupAllProperties();事件1// 抛出⼀个事件2 mock.Raise(m => m.FooEvent += null, new FooEventArgs(fooValue));34// 多层的后代中的事件5 mock.Raise(m => m.Child.First.FooEvent += null, new FooEventArgs(fooValue)); 67// 当 Submit ⽅法被调⽤的时候,抛出⼀个事件8 mock.Setup(foo => foo.Submit()).Raises(f => f.Sent += null, EventArgs.Empty);910// 抛出异常将会触发对象底层的⾏为11// 你可能需要在后⾯进⾏断⾔处理1213// 抛出⼀个⾃定义的事件14public delegate void MyEventHandler(int i, bool b);15public interface IFoo { event MyEventHandler MyEvent; }16 var mock = new Mock<IFoo>();17 ...1819// 传递⾃定义的事件参数20 mock.Raise(foo => foo.MyEvent += null, 25, true);回调1 var mock = new Mock<IFoo>();2 mock.Setup(foo => foo.Execute("ping"))3 .Returns(true)4 .Callback(() => calls++);56// 使⽤调⽤的参数7 mock.Setup(foo => foo.Execute(It.IsAny<string>()))8 .Returns(true)9 .Callback((string s) => calls.Add(s));1011// 使⽤泛型语法12 mock.Setup(foo => foo.Execute(It.IsAny<string>()))13 .Returns(true)14 .Callback<string>(s => calls.Add(s));1516// 使⽤多个参数17 mock.Setup(foo => foo.Execute(It.IsAny<int>(), It.IsAny<string>()))18 .Returns(true)19 .Callback<int, string>((i, s) => calls.Add(s));2021// 调⽤之前和之后的回调22 mock.Setup(foo => foo.Execute("ping"))23 .Callback(() => Console.WriteLine("Before returns"))24 .Returns(true)25 .Callback(() => Console.WriteLine("After returns"));验证1 mock.Verify(foo => foo.Execute("ping"));23// 在验证失败的时候,提供⾃定义的错误提⽰信息4 mock.Verify(foo => foo.Execute("ping"), "When doing operation X, the service should be pinged always");56// 从没有被调⽤的⽅法7 mock.Verify(foo => foo.Execute("ping"), Times.Never());89// ⾄少调⽤过⼀次10 mock.Verify(foo => foo.Execute("ping"), Times.AtLeastOnce());11 mock.VerifyGet(foo => );1213// 验证对属性的赋值.14 mock.VerifySet(foo => );1516// 验证对于属性设置特定的值17 mock.VerifySet(foo => ="foo");1819// 验证匹配的参数20 mock.VerifySet(foo => foo.Value = It.IsInRange(1, 5, Range.Inclusive));⾃定义 Mock ⾏为Mock 的⾏为分为严格的 Strict 和宽松的 Loose,默认为宽松的。
P a p e r F 9ACCA F9 Financial Management2 KAPLAN PUBLISHING© Kaplan Financial Limited, 2010The text in this material and any others made available by any Kaplan Group company does notamount to advice on a particular matter and should not be taken as such. No reliance should beplaced on the content as the basis for any investment or other decision or in connection with anyadvice given to third parties. Please consult your appropriate professional adviser as necessary.Kaplan Publishing Limited and all other Kaplan group companies expressly disclaim all liability to anyperson in respect of any losses or other claims, whether direct, indirect, incidental, consequential orotherwise arising in relation to the use of such materials.All rights reserved. No part of this examination may be reproduced or transmitted in any form or byany means, electronic or mechanical, including photocopying, recording, or by any informationstorage and retrieval system, without prior permission from Kaplan Publishing .Revision Mock QuestionsKAPLAN PUBLISHING 3Formulae SheetEconomic order quantity=Miller-Orr ModelReturn point = Lower limit + ( × spread) Spread =The Capital Asset Pricing ModelE(r)j = R f + βj (E(r m ) – R f )The asset beta formulaβa = βe + βdThe Growth ModelP 0 =Gordon’s growth approximationg = br eThe weighted average cost of capitalWACC =k e + k d (1-T)The Fisher formula(1 + i) = (1 + r) (1 + h)Purchasing power parity and interest rate parityS 1 = S 0 × F 0 = S 0 × Ho C D2C 3131rate Interest flows cash of Variance × cost n Transactio ×433))T -1(V +V (V d e e ))T -1(V +V ()T -1(V d e d g)-(r g)Do(1e +V +V V d e e V +V V de d )h (1)h (1b c ++)i (1)i (1b c ++ACCA F9 Financial Management4 KAPLAN PUBLISHINGPresent Value TablePresent value of 1 i.e. (1 + r)-nWhere r = discount raten = number of periods until paymentPeriods Discount rates (r)(n) 1% 2% 3% 4% 5% 6% 7% 8% 9% 10%________________________________________________________________________________1 0.990 0.980 0.971 0.962 0.952 0.943 0.935 0.926 0.917 0.909 12 0.980 0.961 0.943 0.925 0.907 0.890 0.873 0.857 0.842 0.826 23 0.971 0.942 0.915 0.889 0.864 0.840 0.816 0.794 0.772 0.751 34 0.961 0.924 0.888 0.855 0.823 0.792 0.763 0.735 0.708 0.683 45 0.951 0.906 0.863 0.822 0.784 0.747 0.713 0.681 0.650 0.621 56 0.942 0.888 0.837 0.790 0.746 0.705 0.666 0.630 0.596 0.564 67 0.933 0.871 0.813 0.760 0.711 0.665 0.623 0.583 0.547 0.513 78 0.923 0.853 0.789 0.731 0.677 0.627 0.582 0.540 0.502 0.467 89 0.914 0.837 0.766 0.703 0.645 0.592 0.544 0.500 0.460 0.424 910 0.905 0.820 0.744 0.676 0.614 0.558 0.508 0.463 0.422 0.386 1011 0.896 0.804 0.722 0.650 0.585 0.527 0.475 0.429 0.388 0.350 1112 0.887 0.788 0.701 0.625 0.557 0.497 0.444 0.397 0.356 0.319 1213 0.879 0.773 0.681 0.601 0.530 0.469 0.415 0.368 0.326 0.290 1314 0.870 0.758 0.661 0.577 0.505 0.442 0.388 0.340 0.299 0.263 1415 0.861 0.743 0.642 0.555 0.481 0.417 0.362 0.315 0.275 0.239 15(n) 11% 12% 13% 14% 15% 16% 17% 18% 19% 20%________________________________________________________________________________1 0.901 0.893 0.885 0.877 0.870 0.862 0.855 0.847 0.840 0.833 12 0.812 0.797 0.783 0.769 0.756 0.743 0.731 0.718 0.706 0.694 23 0.731 0.712 0.693 0.675 0.658 0.641 0.624 0.609 0.593 0.579 34 0.659 0.636 0.613 0.592 0.572 0.552 0.534 0.516 0.499 0.482 45 0.593 0.567 0.543 0.519 0.497 0.476 0.456 0.437 0.419 0.402 56 0.535 0.507 0.480 0.456 0.432 0.410 0.390 0.370 0.352 0.335 67 0.482 0.452 0.425 0.400 0.376 0.354 0.333 0.314 0.296 0.279 78 0.434 0.404 0.376 0.351 0.327 0.305 0.285 0.266 0.249 0.233 89 0.391 0.361 0.333 0.308 0.284 0.263 0.243 0.225 0.209 0.194 910 0.352 0.322 0.295 0.270 0.247 0.227 0.208 0.191 0.176 0.162 1011 0.317 0.287 0.261 0.237 0.215 0.195 0.178 0.162 0.148 0.135 1112 0.286 0.257 0.231 0.208 0.187 0.168 0.152 0.137 0.124 0.112 1213 0.258 0.229 0.204 0.182 0.163 0.145 0.130 0.116 0.104 0.093 1314 0.232 0.205 0.181 0.160 0.141 0.125 0.111 0.099 0.088 0.078 1415 0.209 0.183 0.160 0.140 0.123 0.108 0.095 0.084 0.074 0.065 15Revision Mock QuestionsKAPLAN PUBLISHING 5Annuity TablePresent value of an annuity of 1 i.e. rr) + (1 - 1-nWhere r = discount raten = number of periodsPeriods Discount rates (r)(n) 1% 2% 3% 4% 5% 6% 7% 8% 9% 10%________________________________________________________________________________1 0.990 0.980 0.971 0.962 0.952 0.943 0.935 0.926 0.917 0.909 12 1.970 1.942 1.913 1.886 1.859 1.833 1.808 1.783 1.759 1.736 23 2.941 2.884 2.829 2.775 2.723 2.673 2.624 2.577 2.531 2.487 34 3.902 3.808 3.717 3.630 3.546 3.465 3.387 3.312 3.240 3.170 45 4.853 4.713 4.580 4.452 4.329 4.212 4.100 3.993 3.890 3.791 56 5.795 5.601 5.417 5.242 5.076 4.917 4.767 4.623 4.486 4.355 67 6.728 6.472 6.230 6.002 5.786 5.582 5.389 5.206 5.033 4.868 78 7.652 7.325 7.020 6.733 6.463 6.210 5.971 5.747 5.535 5.335 89 8.566 8.162 7.786 7.435 7.108 6.802 6.515 6.247 5.995 5.759 910 9.471 8.983 8.530 8.111 7.722 7.360 7.024 6.710 6.418 6.145 1011 10.37 9.787 9.253 8.760 8.306 7.887 7.499 7.139 6.805 6.495 1112 11.26 10.58 9.954 9.385 8.863 8.384 7.943 7.536 7.161 6.814 1213 12.13 11.35 10.63 9.986 9.394 8.853 8.358 7.904 7.487 7.103 1314 13.00 12.11 11.30 10.56 9.899 9.295 8.745 8.244 7.786 7.367 1415 13.87 12.85 11.94 11.12 10.38 9.712 9.108 8.559 8.061 7.606 15(n) 11% 12% 13% 14% 15% 16% 17% 18% 19% 20%________________________________________________________________________________1 0.901 0.893 0.885 0.877 0.870 0.862 0.855 0.847 0.840 0.833 12 1.713 1.690 1.668 1.647 1.626 1.605 1.585 1.566 1.547 1.528 23 2.444 2.402 2.361 2.322 2.283 2.246 2.210 2.174 2.140 2.106 34 3.102 3.037 2.974 2.914 2.855 2.798 2.743 2.690 2.639 2.589 45 3.696 3.605 3.517 3.433 3.352 3.274 3.199 3.127 3.058 2.991 56 4.231 4.111 3.998 3.889 3.784 3.685 3.589 3.498 3.410 3.326 67 4.712 4.564 4.423 4.288 4.160 4.039 3.922 3.812 3.706 3.605 78 5.146 4.968 4.799 4.639 4.487 4.344 4.207 4.078 3.954 3.837 89 5.537 5.328 5.132 4.946 4.772 4.607 4.451 4.303 4.163 4.031 910 5.889 5.650 5.426 5.216 5.019 4.833 4.659 4.494 4.339 4.192 1011 6.207 5.938 5.687 5.453 5.234 5.029 4.836 4.656 4.486 4.327 1112 6.492 6.194 5.918 5.660 5.421 5.197 4.988 4.793 4.611 4.439 1213 6.750 6.424 6.122 5.842 5.583 5.342 5.118 4.910 4.715 4.533 1314 6.982 6.628 6.302 6.002 5.724 5.468 5.229 5.008 4.802 4.611 1415 7.191 6.811 6.462 6.142 5.847 5.575 5.324 5.092 4.876 4.675 15ACCA F9 Financial Management6 KAPLAN PUBLISHINGALL FOUR questions are compulsory and MUST be attempted1 Victory Co is considering the purchase of new equipment which would enable the company toexpand its operations. The equipment will cost $1.2 million and have a three-year life, at theend of which it will have a scrap value of $600,000.The equipment will mean Victory requires further factory space at an annual rental of$80,000, payable in advance, with the first payment being made on the day the equipment ispurchased.Further annual fixed costs charged to the project will be $715,000 in total. Amongst otherthings, this includes:•$86,000 of bank interest payable on the loan to cover the cost of the equipment. •$74,000 of costs allocated out of head office overheads. • A depreciation charge for the new machinery that has been calculated using thestraight-line method over the life of the machine.Additional annual sales are expected to be 60,000 units per annum in each of the three years.Each unit will sell for $40 and has a variable production cost of $25.A further investment of $340,000 will be required for working capital. This will need to be inplace at the start of the year. This will increase to $400,000 in the following year and$450,000 in the year after that. This working capital investment will be fully recovered at theend of the project.If Victory Co buys the new equipment it can claim capital allowances on the investment on a25% reducing balance basis. The company pays taxation in the year to which it relates at anannual rate of 30%. Victory Co uses a cost of capital of 10% per annum for appraising itsinvestments.Required:(a)Prepare a forecast of the annual after-tax cash flows of the investment and calculate and comment on its net present value (11 marks) (b) Calculate the sensitivity of your answer to part (a) to changes in:(i)the expected annual sales (in units) (ii)the estimated sales proceeds of the equipment Discuss the implications of your findings to Victory Co (8 marks) (c) Explain the difference between risk and uncertainty and describe two other methods(excluding sensitivity analysis) that a company can use to incorporate either risk oruncertainty when appraising investments (6 marks)(Total: 25 marks)Revision Mock QuestionsKAPLAN PUBLISHING 72 Andrew George Co, a civil engineering company, is considering two projects. The first projectinvolves the purchase of new plant and equipment for use in civil engineering whilst thesecond project involves the management of a large hotel chain.Andrew George Co has $35 million of ordinary share capital and each share has a par value of50c. The company also has $24 million par value of 9% debentures. Each $100 debenture isconvertible into 40 ordinary shares in 6 years' time. Debentures which are not converted willbe redeemed at par. The share price is currently $1.90 and this is expected to continuegrowing at the recent average annual growth rate of 7%. The debentures are currentlytrading in the market at $105.Andrew George Co has an equity Beta of 1.15. The average Beta for the civil engineeringsector is 1.2 whilst the average equity Beta for hotel management companies is 1.05. Theaverage gearing in civil engineering and hotel management are (debt:equity) 20:80 and 40:60respectively. The risk free rate is 6%, whilst the return on the market is 11%.Corporate tax is 30%.The Beta of debt should be assumed to be zero.Required:(a) Calculate a suitable discount rate to be used to appraise the purchase of the newplant and equipment. (12 marks)(b) Calculate a suitable discount rate to be used to appraise the hotel managementproject. (6 marks) (c)Discusses both the theories and the practical issues that might influence a company’s capital structure. (7 marks)(Total: 25 marks)3 Bradwell Co is reviewing its trade credit policy. The company, which sells all of its goods oncredit, has estimated that sales for the forthcoming year will be $3 million under the existingpolicy. 30% of debtors are expected to pay one month after being invoiced, and 70% twomonths after being invoiced, based on previous years’ figures.At present, no cash discounts are offered to customers. However, to encourage promptpayment, the company is considering giving a 2.5% cash discount to debtors who pay in onemonth or less. Given this incentive, the company expects 60% to pay within one month, and40% two months after being invoiced. The company believes that the introduction of a cashdiscount policy will prove attractive to some customers and will lead to a 5% increase in totalsales.Irrespective of the trade credit policy adopted, the gross profit margin of the company will be20% for the forthcoming year, and three months’ stock will be held. Fixed monthly expensesof $15,000 and variable expenses (excluding discounts) equivalent to 10% of sales will beincurred, and will be paid one month in arrears. Trade payables will be paid in arrears and willbe equal to two months’ cost of sales. The company will hold a fixed cash balance of $140,000throughout the year, whichever trade credit policy is adopted.ACCA F9 Financial Management8 KAPLAN PUBLISHING Required:(a)Explain the key functions of a credit control department and the importance of good credit control for a company such as Bradwell Co. (7 marks) (b) Calculate the investment in working capital at the end of the forthcoming year under:(i) the existing policy.(ii)the proposed policy. (11 marks) (c) Calculate the expected net profit before interest and tax for the forthcoming yearunder:(i) the existing policy.(ii) the proposed policy. (4 marks)(d) Advise the company as to whether it should implement the proposed policy ofdiscounts to pay in one month or less. (3 marks)(Total: 25 marks)4 Trin Co is a UK-based company that has recently invested heavily in new plant and machinery.Some of the machinery was sourced from the US and, as a result, the company must pay$204,000 to a US supplier in four months time.The current spot rate between the US$ and the £ is 1.523 ± 0.002. The finance manager hasgathered the following information:Four month forward rate ($ per £)1.524 ± 0.0017 One year sterling interest rates (%):5.9 ± 0.2 One year dollar interest rates (%):6.45 ± 0.25 Required:(a)Discuss the differences between transaction risk, translation risk and economic risk. (6 marks) (b) (i) Given the interest rate differentials shown, indicate how the dollar might beexpected to move relative to sterling over the next year. Your calculationsshould be based on the mid-rates given above.(ii)Explain briefly whether or not forecasts of future exchange rates using currentinterest rate differentials are likely to be accurate. (6 marks) (c)Explain what practical approaches Trin Co could use (including leading and lagging) in order to minimise the need for hedging and the associated costs. (8 marks) (d) Calculate the expected sterling cost in four months using a money market hedge andrecommend whether a forward market hedge or a money market hedge should beused. (5 marks)(Total: 25 marks)。