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Type: Posts; User: Konvexity Institute

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1. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Item Set for 8-April (Financial Reporting and...

Item Set for 8-April (Financial Reporting and Analysis):

Will Brown Case Scenario

Will Brown is an accountant in Vickery Inc. His primary job is to prepare annual financial statements for the...
2. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Solutions to Item set for 7-April: 1. Correct...

Solutions to Item set for 7-April:

1. Correct Answer is A: Fair value of assets = 310 + (750+150) = 1,210. Fair value of liabilities = 120+420 = 540. Fair value of net assets = 1,210 – 540 = 670....
3. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Item set for 7-April (Financial Reporting and...

Item set for 7-April (Financial Reporting and Analysis):

Steve Wiggs Case Scenario

Steve Wiggs, CFA, is an analyst at Wickerman Investments. He is analyzing the financial statements of a...
4. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Solutions to Item set for 6-April: 1. Correct...

Solutions to Item set for 6-April:

1. Correct Answer is C: Under U.S. GAAP, total impairment loss = carrying value – fair value = 250,000 – 220,000 = \$30,000.
2. Correct Answer is C: Under IFRS,...
5. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Item set for 6-April (Financial Reporting and...

Item set for 6-April (Financial Reporting and Analysis):

Danny Klucka Case Scenario

Danny Klucka is an analyst with Marcus Investments. He is looking at the financial statements of Circat Inc....
6. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Solutions to Item set for 5-April: 1. Correct...

Solutions to Item set for 5-April:

1. Correct Answer is C: Interest coverage ratio = EBIT/Interest = (600-300+60)/50 = 360/50 = 7.2.
2. Correct Answer is C: Return on equity = 330/2,570 = 12.84%....
7. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Item set for 5-April (Financial Reporting and...

Item set for 5-April (Financial Reporting and Analysis):

Scott Segley Case Scenario

Scott Segley, CFA level III candidate, is an analyst in Capital IQ. He is doing comparative analysis of...
8. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Solutions to Item set for 4-April: 1. Correct...

Solutions to Item set for 4-April:

1. Correct Answer is C: Statement 4 is incorrect because the equity will decrease because of write-down and which will lead to higher solvency ratios like D/E....
9. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Item set for 4-April (Financial Reporting and...

Item set for 4-April (Financial Reporting and Analysis):

John Austin Case Scenario

John Austin, CFA, is an equity research analyst with Value Quest. He is looking at the balance sheet of a...
10. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Solutions to Item set for 3-April: 1. Correct...

Solutions to Item set for 3-April:

1. Correct Answer is C: Total excess purchase price paid in investments at the end of year 2009 = 150 – 400*0.30 = \$30 million. Out of this amount, \$50*0.3 = \$15...
11. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Item set for 3-April (Financial Reporting and...

Item set for 3-April (Financial Reporting and Analysis):

Jared Freeman Case Scenario

Jared Freeman is an auditor who is checking the financial statements of Genesis Mentors. Genesis Mentors is...
12. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Solutions to Item set for 2-April: 1. Correct...

Solutions to Item set for 2-April:

1. Correct Answer is C: The balance sheet carrying value for held for trading and available for sale security will be at its fair value. The balance sheet...
13. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Item set for 2-April (Financial Reporting and...

Item set for 2-April (Financial Reporting and Analysis):

Mitch Smith Case Scenario

Mitch Smith, CFA, is preparing an equity research report on Ubura Technologies. The company is in situated in...
14. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Solutions to Item set for 1-April: 1. Correct...

Solutions to Item set for 1-April:

1. Correct Answer is B: F-statistic = MSR/MSE = (RSS/k) / (SSE/n-k-1) = (84.5/3) / (120.50/56) = 13.09.
2. Correct Answer is B: Percentage of variation...
15. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Item set for 1-April (Quantitative Methods): ...

Item set for 1-April (Quantitative Methods):

Peter Robinson Case Scenario

Peter Robinson is trying to calculate the cost of equity for a company, Little Flower. He thinks that the Fama-French...
16. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Solutions to Item set for 31-March: 1. Correct...

Solutions to Item set for 31-March:

1. Correct Answer is A: The predicted value of revenue for 3rd quarter for 2010 = exp [b (0) + b (1)*t] = exp (2.15+0.055*43) = \$91.38 million. Note there that...
17. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Item set for 31-March (Quantitative Methods): ...

Item set for 31-March (Quantitative Methods):

Daniel Brown Case Scenario

Daniel Brown, a CFA charter holder, has run a regression on time series data for the sales data. He has used a...
18. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Solutions to Item set for 30th March: ...

Solutions to Item set for 30th March:

1. Correct Answer is B: The equity risk premium of S&P = [(1+EINFL)(1+EGREPS)(1+EGPE) – 1] + EINC – Expected risk free return = [1.02*1.025*1.05-1]+0.03-0.06...
19. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Item set for 30-March (Equity): Robert Higgs...

Item set for 30-March (Equity):

Robert Higgs Case Scenario

Robert Higgs, CFA, is working as a security analyst in Casey Research. His primary job is to calculate the required return on equity...
20. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Solutions to Item set for 29-March: 1. Correct...

Solutions to Item set for 29-March:

1. Correct Answer is C: Change in working capital investment = (Accounts receivable + Inventory – Accounts payable) 2012 – (Accounts receivable + Inventory –...
21. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Item set for 29-March (Equity): Devin Barras...

Item set for 29-March (Equity):

Devin Barras Case Scenario

Devin Barras is valuing a company named Fumbler. Fumbler has been growing at a faster growth rate than the other companies in the...
22. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Solutions to Item set for 28-March: 1. Correct...

Solutions to Item set for 28-March:

1. Correct Answer is C: Justified P/E ratio for Xyre Limited = 1/ {(r-I) + (1-λ)*I} = 1/ {(0.145-0.05) + (1-0.60)*0.05)} = 1/ {0.095 + 0.4*0.05} = 1/0.115 =...
23. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Item set for 28-March (Equity): Hemanta...

Item set for 28-March (Equity):

Hemanta Veksler Case Scenario

Hemanta Veksler, CFA, is an equity analyst in Inaam Securities. He values securities using relative valuation models. He calculates...
24. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Solutions to Item set for 27-March: 1. Correct...

Solutions to Item set for 27-March:

1. Correct Answer is A: Value of the firm using CCM = FCFF1/ (WACC – gf) = \$2 million/ (0.156-0.058) = \$20.408 million.
2. Correct Answer is A: Value of equity...
25. ## Thread: Sample CFA Level 2 question bank for June 2013 exam

by Konvexity Institute
Replies
116
Views
100,504

### Sticky: Item set for 27-March (Equity): Bernard Sande...

Item set for 27-March (Equity):

Bernard Sande Case Scenario

Bernard Sande is an analyst at LLC Inc. He is a valuation analyst and values the private companies.

LLC Inc. is into manufacturing...
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