tailieunhanh - Đáp án Đề thi CFA level 1 2010 Buổi sáng (2)

Đáp án đề thi CFA Level 1 năm 2010, Morning exam từ Corporate Finance tới Portfolio Management | Questions 69 through 78 relate to Corporate Finance 69. A company that sells ice cream is evaluating an expansion of its production facilities to also produce frozen yogurt. A marketing study has concluded that producing frozen yogurt would increase the company s ice cream sales because of an increase in brand awareness. What impact will the cash flows from the expected increase in ice cream sales most likely have on the NPV of the yogurt project A. Increase B. Decrease C. No effect Answer A Capital Budgeting John D. Stowe CFA and Jacques R. Gagné CFA 2010 Modular Level I Vol. 4 p. 9 Study Session 11-44-b Discuss the basic principles of capital budgeting including the choice of the proper cash flows. The increase in ice cream sales represents a positive externality that will increase the NPV of the project and should be included in the NPV analysis. 70. The following information is available for a company and the industry in which it competes Company Industry Accounts receivable turnover times times Inventory turnover times times Number of days of payables 28 days 36 days Relative to the industry the company s operating cycle A. and cash conversion cycle are both longer. B. is longer but its cash conversion cycle is shorter. C. is shorter but its cash conversion cycle is longer. Answer A Financial Analysis Techniques Thomas R. Robinson CFA Jan Hendrik van Greuning CFA R. Elaine Henry CFA and Michael A. Broihahn CFA 2010 Modular Level 1 Vol. 3 pp. 329-331 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 preparation only. The following activities are strictly prohibited and may result in disciplinary and or legal action accessing or permitting access by anyone other than currently-registered CFA candidates copying posting to any website emailing distributing and or reprinting the mock exam for any purpose. .