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CFA Level I Finance — practice by topic

Browse 88 questions across 9 Finance topics. Choose what you want to revise, then open a question to check its answer and worked solution.

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Finance topics

Finance (88)Accounting (30)Bond Valuation (30)Financial Analysis (30)Financial Ratio Analysis (30)Fixed Income (30)Investments (30)Corporate Finance (28)Cost of Capital (28)

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An analyst sorts financial ratios into their main families: liquidity, solvency, profitability and:Read the answer and worked solution →Ratio results are used to spot trends, set budget expectations, compare competitors and establish:Read the answer and worked solution →A firm divides its current assets by its current liabilities. That figure is the:Read the answer and worked solution →A stricter test strips inventory and prepaid expenses out of current assets. That test is also called the:Read the answer and worked solution →

Worked practice questions

An analyst sorts financial ratios into their main families: liquidity, solvency, profitability and:

  1. Efficiency
  2. Advertising
  3. Recruitment
  4. Warehousing
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Correct answer: A. Efficiency

1. Four families are named together. 2. The fourth covers use of assets. 3. It is efficiency. _Source: OpenStax Principles of Finance 2e, Chapter 6, Measures of Financial Health._

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Ratio results are used to spot trends, set budget expectations, compare competitors and establish:

  1. Office rents
  2. Benchmarks
  3. Staff rotas
  4. Delivery routes
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Correct answer: B. Benchmarks

1. Success needs a yardstick. 2. Competitors are compared against it. 3. They are benchmarks. _Source: OpenStax Principles of Finance 2e, Chapter 6, Measures of Financial Health._

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A firm divides its current assets by its current liabilities. That figure is the:

  1. Current ratio
  2. Equity ratio
  3. Quick ratio
  4. Cash ratio
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Correct answer: A. Current ratio

1. It is closely tied to working capital. 2. All current assets are included. 3. It is the current ratio. _Source: OpenStax Principles of Finance 2e, Chapter 6, Measures of Financial Health._

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