Exam Details

  • Exam Code
    :CFA-LEVEL-1
  • Exam Name
    :CFA Level I - Chartered Financial Analyst
  • Certification
    :CFA Institute Certifications
  • Vendor
    :CFA Institute
  • Total Questions
    :3960 Q&As
  • Last Updated
    :Jul 16, 2025

CFA Institute CFA Institute Certifications CFA-LEVEL-1 Questions & Answers

  • Question 3401:

    Which of the following is the formula for the correlation between X and Y?

    A. Cov(X,Y)/[(sigma_X)*(sigma_Y)]^2.

    B. [Cov(X,Y)]^0.5

    C. (sigma_X)*(sigma_Y)/Cov(X,Y).

    D. Cov(X,Y)/[(sigma_X)*(sigma_Y)].

  • Question 3402:

    The coefficient of variation of a distribution X is twice that of Y. If X and Y have the same means, the variance of Y is:

    A. half that of X.

    B. twice that of X.

    C. none of these answers.

    D. same as that of X.

  • Question 3403:

    The lengths of time (in minutes) several underwriters took to review applications for similar insurance coverage are: 50, 230, 52 and 57. What is the median length of time required to review an application?

    A. 141.0

    B. 54.5

    C. None of these answers

    D. 109.0

    E. 97.25

  • Question 3404:

    A statistician has framed his hypothesis testing problem as:

    Ho: mean = 0H1: mean > 0

    For the given sample, he calculates the z-statistic. Then, the region of rejection at the 99% level is given

    by:

    A. z-statistic > +2.32

    B. z-statistic < 1.96

    C. z-statistic < -2.32 or z-statistic > +2.32

    D. z-statistic > +1.96

  • Question 3405:

    The closing prices of a common stock have been 61 1/2, 62, 61 1/4, 60 7/8, and 61 1/2 for the past week. What is the range?

    A. None of these answers

    B. $1.750

    C. $1.875

    D. $1.250

    E. $1.125

  • Question 3406:

    You run a mutual fund that holds 24 stocks. Each week, you intend to comprehensively review 3 of them. Assuming this is the first week you are doing this, how many ways can you choose 3 from the 24?

    A. 2,024.

    B. 1,492.

    C. 1,024.

    D. 2,048.

  • Question 3407:

    An empirical finance professor estimates the following regression between the return on a stock, R, and the return on SandP 500 index, Rsp:

    R = 5% + 1.1 Rsp + error term

    If the regression R-square is 0.25, estimate the change in the return on the stock when the return on the SandP 500 index changes from 12% to 15%.

    A. 19.5%

    B. 8.8%

    C. 18.2%

    D. 3.3%

  • Question 3408:

    A perpetuity of $5,000 a year is priced at $40,000. The annual discount rate is:

    A. 12.5%

    B. 13.1%

    C. 11.8%

    D. 12.75%

  • Question 3409:

    The formula for conditional probability is given by:

    A. P(A | B) = P(AB) / P(B)

    B. P(A | B) = P(AB) / P(A)

    C. P(A | B) = P(AB) * P(A)

    D. P(A | B) = P(AB) * P(B)

  • Question 3410:

    A cumulative frequency distribution on days absent during a calendar year by employees of a manufacturing company is shown below.

    Days AbsentCumulative Number of Employees 0 - 260 3 - 531 6 - 814 9 - 116 12 - 142

    How many employees were absent fewer than six days?

    A. 60

    B. 91

    C. 46

    D. 31

    E. None of these answers

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