这是关于中金黄洁的5道CFA考题，请你来做做

发表时间： 2017/07/04

1/ Assume you were interviewing with CXCC's equity research department and Bank of China had recently issued a new bond with 5-year tenor. As Senior Analyst covering the banking sector at CXCC, Huang Jie, appreciated your potential and attractiveness, so he invited you to Room 1024 and gave you a small test: Which of the following statement about bond's indenture is most correct? 》》点我咨询如何报考CFA证书

A. It contains its covenants.

B. It is the same as a debenture.

C. It relates only to its interest and principal payments.

2/ As part of the interview process, Huang Jie invited you for a drink. He was afraid that you did not catch his point, so he wanted to test your career motivation: Markets for produced goods that are primarily sold to customers are best described as:

A. capital markets

B. intermediate goods markets

C. services and finished markets.

3/ After the drink, he sent you a message via wechat 'it is a Vanity Fair, will you? Think twice as it is nothing but a piece of cake for me'. You did not quite get his point. 'Please elaborate..." you said. Then he sent you a voice message: With regard to the most appropriate treatment of cash flows in capital budgeting, which of the following is correct?

A. A project is evaluated using its incremental cash flows on an after-tax basis.

B. Interest costs are included in the project's cash flows to reflect financing costs.

C. Sunk costs and externalities should not be included in the cash flow estimates.

4/ Huang Jie, one of the best known analyst in Asia Pacific equity research society, works pretty hard and travels very often. Due to work pressures, he felt the need to relax and therefore went to a massage shop in Hong Kong...When things were done, it reminded him that he did not bring any cash but had to use the credit card. For the credit card, it charges 15% compounded monthly. Its effective annual rate is closest to:

A. 15.78%

B. 18.85%

C. 16.08%

5/ Huang Jie, CFA, is a Senior Analyst working at CXCC. Huang least likely violated the Standard relating to:

A. Knowing of the law

B. Misconduct

C. Duty to employer

答案：

Solution: A
An indenture is the contract between the company and its bondholders and contains the bond's covenants.

Solution：C
Markets for produced goods such as cars, clothing, and liquor that are sold primarily to customers are considered as services and finished markets.

Solution: A

Solution: C
=(1+15%/12)^12-1

Solution: C or Not Available

Please pay special attention to the wording in the question: "least likely". Below are the detailed explanations:

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