Took it in New York. Relatively simpler compared to ntoes 6 sample exams, particularly the morning session. Afternoon session is a bit harder but not that hard. Here are some questions in my memory. Ethics is not too long so it's ok. We need only 50% to pass. Should be fine. Quant: morning session is pretty straight-forward, conceptual questions, mostly focused on standard deviation and mean. And one question asking which test is used to test equality of variance - F-statistics. No probability at all. Questions are tricky in the afternoon though still mostly were conceptual questions. There was one question taking me much time. Assuming all variables are different, compare geometric mean, harmonic mean, and arithmetic mean. Arithmetic > Geometric > Harmonic I didn't remeber too much of Econ. Only a question asking about technicially efficient, cross-rate exchange, exchange rate forward discount, contractionary monetary policy's influence on domestic currency-appreciation. Accounting is simple, not much leases, not much off-balance sheet items. Asset valuation had similar questions in the morning and afternoon. One question ask what's the after-tax borrowing rate for a company to keep P/E the same after borrowing debt to retire 4million dollar common stock? answer is dividend yield. The term was asked in the morning but the number was asked in the afternoon, while question was exactly the same. A couple of question about bond interest risk with various coupon, ytm, and maturity. growth rate calculation from ROE*Retention Ratio. Portfolio management is simple. Questions were concentrating on SML, CML, and CAPM, such as position above the line for undervalued stock. And one question ask about price appreciation is mostly important to what kind of investor, "capital appreciation". This question was showed up both in the morning and afternoon without any change. | 
发表于 2007-6-5 00:00
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