CFA-Level-I Exam PDF [2025] Tests Free Updated Today with Correct 2200 Questions [Q805-Q821]

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CFA-Level-I Exam PDF [2025] Tests Free Updated Today with Correct 2200 Questions

CFA CFA-Level-I Exam Preparation Guide and PDF Download

QUESTION 805
A beginning amount of $75,000 is invested at 13% per year. At the beginning of each year for the next 30 years, a withdrawal is to be made to pay insurance premiums. What is the largest premium this investment will support?

$10,005.80

$8,854.69

$7,836.01

QUESTION 806
Diane Corporation had 400 units of inventory on hand at July 1, 2002, costing $20 each. Purchases and sales of goods during the month of July were as follows:
July 12, 2002 Sales 200 units @ $40 July 15, 2002 Purchases 100 units @ $26 July 25, 2002 Purchases
3 00 units @ $28 July 30, 2002 Sales 200 units @ $40
Assume Diane Corporation does not maintain perpetual inventory records. According to a physical count,
4 00 units were on hand on July 31, 2002.
The cost of inventory at July 31, 2002, using the LIFO cost method, is:

$11,000

$8,000

$9,500

QUESTION 807
If a stock’s price rises while its volume declines, technicians usually interpret this as a signal that:

The trend is starting to lose its legs and may soon end.

Long positions should be maintained.

The opening and closing prices will be reversed.

QUESTION 808
When adjusting for an unpaid expense that has been incurred but not recorded, which of the following occur?

An expense is increased and a liability is increased.

An expense is increased and an asset is decreased.

An expense is increased and a liability is decreased.

QUESTION 809
If John quits his job to find a new job in a different city, John is considered

frictionally unemployed.

structurally unemployed.

naturally unemployed.

QUESTION 810
What is the value after three years of $1,000 invested at a 6% annual rate, if interest is compounded monthly?

$ 1,191.02

$ 1,196.68

$ 1,197.22

QUESTION 811
Currently the market in a stock is “$30.12 bid, $offered at 30.62”. A new sell limit order is placed at
$ 30.12. This limit order is said to:

take the market.

make the market.

make a new market.

QUESTION 812
A ______ multiple can be misleading as a valuation indicator when there are significant differences among the level of assets employed by companies.

P/E

P/B

P/S

QUESTION 813
Discouraged workers

are discouraged because their current employment compensations are low, but they believe deserve higher wages or salaries.

are workers whose productivities are lower than average workers.

are not working, and not even officially unemployed.

QUESTION 814
A statistician is calculating the confidence interval for but the standard deviation of the sampled population is unknown. It is acceptable to use the sample standard deviation in place of the population standard deviation when
I). when the sample distribution is normally distributed.
II). the sample size is greater than 30.
III). when the sample distribution behaves according to the Central Limit Theorem.

I and II.

I and III.

I, II and III.

QUESTION 815
Volatility risk is the risk

that the ability of an issuer to make interest and principal payments changes dramatically and unexpectedly because of certain events.

that the price of a bond with an embedded option will change when expected yield volatility changes.

that arises because of the variation in the value of cash flows from a security due to inflation.

QUESTION 816
A project may have multiple IRRs because

it may have cash outflows at the end of the project in addition to the investment outlay at the beginning.

its cash flows are received far into the future or it has negative NPV

it has a small investment at the beginning and a very large cash flow at the end.

QUESTION 817
In the long run the price a monopolistic competitor sets is equal to:

marginal revenue.

average total cost.

marginal cost.

QUESTION 818
Under the semi-strong form of the EMH, a company announcing stronger-than-expected earnings would present most investors with what type of abnormal profit opportunity?

no profit opportunity, because prices will adjust rapidly to the information

no profit opportunity for small investors but the potential for modest profit for large, sophisticated investors such as mutual funds

the potential for a modest profit as long as the investor acts within one or two hours

QUESTION 819
Suppose the Brazilian real is quoted at US$:R = 0.9955-1.0076 and the Thai baht is quoted at US$:B
= 25.2513-3986. What is the direct quote for the real in Bangkok (R:B=?)?

30.5541 – 6456

25.1376 – 2654

25.0608 – 5134

QUESTION 820
Which type of demand for money is not directly linked to GDP?

transactions-related.

precautionary.

speculative.

QUESTION 821
You are investigating whether the population variance of returns on the S&P 500 changed subsequent to September 11 2001. You gather data for 20 months before and after September 11. Mean monthly return, Standard Deviation, Variance Before September 11, 20, 2.987, 6.987, 48.818 After September 11,
2 0, 2.435, 4.987, 24.870
At the 0.01 level of significance:

we reject the null hypothesis.

the critical value is 1.962.

we fail to reject the null hypothesis.