V1_20100227_CFA一级上海基础班equity题目_张颍

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Equity

1. Which of the following is the attribute that is most closely associated with the liquidity of a

securities market? A. Low transaction costs

B. Timely and accurate information C. Price continuity and market depth

D. Rapid adjustment of prices to new information

2. A securit market in which all the bids and asks for a stock are gathered to arrive at a single price that satisfies most of the orders is best described as a A. call market. B. dealer market. C. primary market. D. continuous market.

3. Adams owns 100 shares of Brikley stock, which is trading at $86 per share, and Brown is

short 200 shares of Brikley. Adams wants to buy 100 more shares if the price rises to $90, and

Brown wants to cover his short position and take profits if the price falls to $75. The orders Adams and Brown should enter to accomplish their stated objectives are: Adams Brown

A. Limit buy at 90 Limit buy at 75 B. Limit buy at 90 Stop buy at 75 C. Stop buy at 90 Limit buy at 75 D. Stop buy at 90 Stop buy at 75

4. In securities exchange markets, a member who executes stop loss or stop buy orders when the

specified price occurs is most likely a: A. floor broker. B. market maker. C. registered trader.

D. commission broker.

5. You purchase 3000 shares of AMD at $9 using 50% margin. AMD does not pay a dividend,

and the call rate on the margin loan is 1% per month. After 3 months, you liquidate this position at a share price of $12. What is rate of return on this trade? A. 31.83% B. 63.67% C. 33.34% D. 66.67%

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