{"id": "en-task1-final-dev-001", "question": "A trader holds options on a U.K stock that doesn’t pay dividends. The stock’s current price is USD 300, and the options will expire in a year. All of the options have a strike price of USD 280. Which of the following is closest to the Black-Scholes values of these options? Assumptions: Risk-free rate (continuously compounded) = 5% \\(Nd_1\\) = 0.7327 \\(Nd_2\\) = 0.6164", "options": {"A": "Value of the American call option is USD 55.34 and that of the European put is USD 21.98", "B": "Value of the American call option is USD 21.98 and that of the European put is USD 0.00", "C": "Value of the American call option is USD 55.34 and that of the European put is USD 0.00", "D": "Value of the American call option is USD 21.98 and that of the European put is USD 55.34"}, "num_choices": 4}
{"id": "en-task1-final-dev-002", "question": "Of the 6 United Nations Principles for Responsible Investment (PRI), which one expects signatories to incorporate ESG into their investment approach?", "options": {"A": "Principle 1", "B": "Principle 2", "C": "Principle 4"}, "num_choices": 3}
{"id": "en-task1-final-dev-003", "question": "The following performance report was prepared for Dale Manufacturing for the month of April.\nActual Results Static Budget Variance\nSales units 100,000 80,000 20,000F\nSales dollars $190,000 $160,000 $30,000F\nVariable costs 125,000 96,000 29,000U\nFixed costs 45,000 40,000 5,000U\nOperating income $ 20,000 $ 24,000 $ 4,000U\nUsing a flexible budget, Dale’s total sales-volume variance is", "options": {"A": "$4,000 unfavorable.", "B": "$6,000 favorable.", "C": "$16,000 favorable.", "D": "$20,000 unfavorable."}, "num_choices": 4}
{"id": "en-task1-final-dev-004", "question": "Which of the below statements is correct regarding complaints for the sanctioning of a practitioner, employer, firm, appraiser, or other entity for violations of the regulations governing practice before the Internal Revenue Service?", "options": {"A": "A United States Tax Court judge oversees proceedings regarding the complaint", "B": "In general, discovery may be permitted at the discretion of an Administrative Law Judge", "C": "Within 30 days of receipt of the answer, the presiding judge will notify the parties of the right to request discovery and the timeframe for filing a request", "D": "The complaint can only be served on the respondent in person by a designated employee of the Internal Revenue Service"}, "num_choices": 4}
{"id": "en-task1-final-dev-005", "question": "A taxpayer filed an appeal of an IRS examination and then signed Form 8821, Tax Information Authorization, authorizing an enrolled agent (EA) to receive the taxpayer’s confidential tax information related to the matter before the Independent Office of Appeals. Which of the following is correct regarding the EA’s ability to represent the taxpayer regarding the appeal?", "options": {"A": "The EA may represent the client based on the Form 8821", "B": "The EA may represent the client with the oral consent of the client", "C": "The EA may represent the client with a note attached to Form 8821", "D": "The EA may not represent the client based on the Form 8821"}, "num_choices": 4}
{"id": "en-task1-final-dev-006", "question": "A company has divided its customers into two groups. Group 1 consists of 20% of the company's most loyal and reliable customers. Group 2 consists of 80% of the company's customers who are either small customers or larger customers who order small quantities to test the product before placing larger orders. The most recent results are shown below.\nThe\nbest\nway for the company to improve profitability is to", "options": {"A": "charge a separate fee for the delivery of small quantities.", "B": "discontinue sales to Group 2 customers.", "C": "eliminate discounts for Group 1 customers.", "D": "raise the selling price of the product."}, "num_choices": 4}
{"id": "en-task1-final-dev-007", "question": "The interest on qualified U.S. savings bonds may not be taxable if an individual pays:", "options": {"A": "A reduced rent that is government subsidized", "B": "Mortgage interest for a rental property", "C": "Household employee wages more than $1,000", "D": "Qualified higher educational expenses in the same year"}, "num_choices": 4}
{"id": "en-task1-final-dev-008", "question": "A new client visits an enrolled agent (EA). The taxpayer believes that the U.S. tax system is purely voluntary and filed a return showing no income tax, requesting all withholding be refunded. The IRS assessed a $5,000 frivolous return penalty. The taxpayer received a Notice of Intent to Levy and Right to Collection Due Process (CDP) hearing concerning the $5,000 penalty. The taxpayer wants the EA to present the previous arguments about the tax system in the CDP hearing request. Which of the following is a correct statement regarding the CDP hearing request raising arguments previously deemed frivolous?", "options": {"A": "Filing the CDP request will suspend any levies while the IRS Independent Office of Appeals considers the request", "B": "The EA would not be subject to a frivolous submission penalty by submitting the CDP hearing request", "C": "Since a $5,000 frivolous return penalty has been assessed, a second penalty cannot be assessed for the same tax period", "D": "If the IRS provides the taxpayer with notice that the CDP request is frivolous, the taxpayer will be given 30 days to withdraw or amend the CDP request to avoid a frivolous submission penalty"}, "num_choices": 4}
{"id": "en-task1-final-dev-009", "question": "A 10 year bond with a par value of $1,000 will mature in 10 years for $1,080. It sells at $1193.07 with yield 6% convertible semiannually. Find the coupon rate if it is convertible semiannually.", "options": {"A": "4%", "B": "5%", "C": "6%", "E": "10%"}, "num_choices": 4}
{"id": "en-task1-final-dev-010", "question": "A German clothing retailer sells its products mainly online to customers worldwide. Company management believes that its primary risk relates to problems with its online website. A secondary risk is exchange rate volatility. Which one of the following best categorizes the company’s primary risk and secondary risk?", "options": {"A": "Strategic risk, financial risk.", "B": "Hazard risk, operational risk.", "C": "Operational risk, hazard risk.", "D": "Operational risk, financial risk."}, "num_choices": 4}
{"id": "en-task1-final-dev-011", "question": "A company has total variable costs of USD4 million and fixed costs of USD3 million. Based on this information, the company will stay in the market in the long term if total revenue is at least:", "options": {"A": "USD3.0 million", "B": "USD4.5 million", "C": "USD7.0 million"}, "num_choices": 3}
{"id": "en-task1-final-dev-012", "question": "When using the statement of cash flows to evaluate a company’s continuing solvency, the most important factor to consider is the cash", "options": {"A": "balance at the end of the period.", "B": "flows from (used for) operating activities.", "C": "flows from (used for) investing activities.", "D": "flows from (used for) financing activities."}, "num_choices": 4}
{"id": "en-task1-final-dev-013", "question": "A paycheck issued after the date of death to a taxpayer for work performed prior to death is considered:", "options": {"A": "Non-taxable income", "B": "Income in respect of a decedent", "C": "Excess compensation", "D": "Deferred income"}, "num_choices": 4}
{"id": "en-task1-final-dev-014", "question": "After a competitive bidding process, a company’s purchasing director awarded a contract to the lowest bidder, an organization in which she had a personal interest. Since the winning bidder had the lowest price, she did not disclose her relationship with the entity. In fact, she frequently highlighted the fact that the winning bidder had the most experience servicing contracts of this nature. Which one of the values of ethical decision making did the purchasing director violate?", "options": {"A": "None, because a competitive bidding process was utilized.", "B": "Fairness, because she did not tell the truth about her relationship with the vendor.", "C": "Integrity, because her relationship with the bidder could have impaired her judgment.", "D": "Honesty, because she was not being truthful about the experience of the bidder."}, "num_choices": 4}
{"id": "en-task1-final-dev-015", "question": "Which one of the following would cause a company's production budget to decrease?", "options": {"A": "An increase in direct labor costs per unit", "B": "A decrease in units produced per direct labor hour", "C": "A decrease in required ending inventory", "D": "An increase in beginning direct labor inventory"}, "num_choices": 4}
{"id": "en-task1-final-dev-016", "question": "The IRS may accept an Offer in Compromise filed by the taxpayer or their representative under which of the conditions below?", "options": {"A": "The taxpayer’s tax debt might not be accurate", "B": "All the taxpayer’s liabilities have been referred to the Department of Justice for prosecution or defense", "C": "The taxpayer has filed Chapter 13 bankruptcy", "D": "The taxpayer failed to file all legally required tax returns before the offer is submitted"}, "num_choices": 4}
{"id": "en-task1-final-dev-017", "question": "A child may be subject to kiddie tax in the current year if:", "options": {"A": "Neither parent of the child is alive at the end of the year", "B": "The child is under age 18 at the end of the tax year", "C": "The child has only nontaxable income of more than $2,300", "D": "The child is required to file a tax return and he or she files a joint return for the year"}, "num_choices": 4}
{"id": "en-task1-final-dev-018", "question": "After a systems programmer was terminated and passwords were disabled, the company’s server crashed and erased all of its files and software. The terminated employee had installed a virus in the operating system and executed it via a backdoor. Which one of the following measures would most likely have prevented this occurrence?", "options": {"A": "A policy to encrypt all data and files maintained on its server.", "B": "Daily backup of all data on the server.", "C": "An intrusion detection system used to create logs of network traffic.", "D": "An advanced firewall used to detect intrusions."}, "num_choices": 4}
{"id": "en-task1-final-dev-019", "question": "A company plans to add a new product that would affect its indirect labor costs in two ways. First, the production manager from an existing product would serve as manager of the new product. Her current assistant manager would be promoted and assume her previous position. Second, the existing maintenance staff would provide facility and machine maintenance that would require 30 hours of labor each month, but no increase in their total weekly hours worked. The company’s production managers earn $60,000 annually, assistant production managers are paid $50,000 each year, and maintenance employees earn $20 per hour. No additional hiring is planned. The annual relevant indirect labor costs for adding the new product would total:", "options": {"A": "$67,200.", "B": "$60,600.", "C": "$10,000.", "D": "$7,200."}, "num_choices": 4}
{"id": "en-task1-final-dev-020", "question": "Which of the following simple logical participation strategy will be most appropriate for trading in Pyramid Enterprise’s stock?", "options": {"A": "TWAP.", "B": "VWAP.", "C": "Percentage of volume strategy"}, "num_choices": 3}
{"id": "en-task1-final-dev-021", "question": "A computer virus is different from a Trojan horse because the virus can", "options": {"A": "corrupt data.", "B": "alter programming instructions.", "C": "replicate itself.", "D": "erase executable files."}, "num_choices": 4}
{"id": "en-task1-final-dev-022", "question": "A management accountant at a digital media company is aiming to develop a model to anticipate a key business outcome. Which one of the following scenarios would be most appropriate for application of a logistic regression model?", "options": {"A": "Predicting the continuous revenue for the next quarter.", "B": "Predicting whether a customer will renew their subscription.", "C": "Forecasting the stock prices for the next year.", "D": "Forecasting the number of new student subscribers in the coming month."}, "num_choices": 4}
{"id": "en-task1-final-dev-023", "question": "Devin's Custom Construction designs and builds custom houses for consumers. Customers have several base plans to choose from, and modifications can be made from those plans. The modifications can range from being very minor to significant. The houses generally take from three months to one year to design and build, depending on the amount of customization. What is the\nbest\ntype of budgeting for this business situation?", "options": {"A": "Project budgeting", "B": "Activity‐based budgeting", "C": "Flexible budgeting", "D": "Rolling/continuous budgeting"}, "num_choices": 4}
{"id": "en-task1-final-dev-024", "question": "Which one of the following would have the least impact on a firm’s beta value?", "options": {"A": "Debt-to-equity ratio.", "B": "Industry characteristics.", "C": "Operating leverage.", "D": "Payout ratio."}, "num_choices": 4}
{"id": "en-task1-final-dev-025", "question": "Suppose SCG offered $50 million for the acquisition of Yummy Bars. SCG would most likely:", "options": {"A": "Subject itself to post-acquisition legal suits from Yummy Bars.", "B": "Recognize the difference between the fair value of Yummy Bars’ assets and the purchase price as a gain in profit and loss.", "C": "Recognize the difference between the fair value of Yummy Bars’ assets and the purchase price as a loss in profit and loss"}, "num_choices": 3}
{"id": "en-task1-final-dev-026", "question": "What does a narrowing of Bollinger Bands normally indicate about a market?", "options": {"A": "That market is ready for a rally.", "B": "That market is ready for a decline.", "C": "That market’s volatility has increased.", "D": "That market’s volatility has decreased."}, "num_choices": 4}
{"id": "en-task1-final-dev-027", "question": "An investor purchased 100 shares of a stock for USD34.50 per share at the beginning of the quarter. If the investor sold all of the shares for USD30.50 per share after receiving a USD51.55 dividend payment at the end of the quarter, the investor’s holding period return is closest to:", "options": {"A": "−13.0 percent", "B": "−11.6 percent", "C": "−10.1 percent"}, "num_choices": 3}
{"id": "en-task1-final-dev-028", "question": "With respect to the internal control provisions of the U.S. Foreign Corrupt Practices Act (FCPA), all of the following statements are true except that", "options": {"A": "the FCPA prescribes a particular set of internal controls that companies are required to develop and implement.", "B": "internal controls are used by companies to help provide reasonable assurance regarding reliability of financial reporting.", "C": "access to company assets are permitted in accordance with management’s general and specific authorization.", "D": "good internal controls can help prevent not only FCPA violations, but also other illegal or unethical conduct."}, "num_choices": 4}
{"id": "en-task1-final-dev-029", "question": "Bell Retail Company sells antique replica trunks to customers all over the world. Bell's inventory records show the following.\nBell sells 470 units this year. Management is researching whether the company should use last in, first out (LIFO) or first in, first out (FIFO). If Bell's management wants to lower the company's income taxes, which inventory cost flow assumption should Bell select?", "options": {"A": "FIFO, because the cost of goods sold will be $9,870 higher than LIFO.", "B": "FIFO, because the operating income will be $840 lower than LIFO.", "C": "LIFO, because the operating income will be $4,360 lower than FIFO.", "D": "LIFO, because the cost of goods sold will be $5,250 higher than FIFO."}, "num_choices": 4}
{"id": "en-task1-final-dev-030", "question": "Let \\(Y_1 < Y_2 < \\cdots < Y_6\\) be the order statistics of a random sample of size 6 from a distribution \\(X\\) with pdf \\(f(x)=3x^2, 0 \\le x \\le 1\\). Find the pdf of \\(Y_6\\).", "options": {"A": "\\(g_1 (y)=3y^2,0 \\le y \\le 1\\)", "B": "\\(g_1 (y)=18y^{17},0 \\le y \\le 1\\)", "C": "\\(g_1 (y)=17y^{18},0 \\le y \\le 1\\)", "D": "\\(g_1 (y)=3y^{27},0 \\le y \\le 1\\)", "E": "\\(g_1 (y)=18y^2 (1-y^3)^5,0 \\le y \\le 1\\)"}, "num_choices": 5}
{"id": "en-task1-final-dev-031", "question": "The management of a food processing company is analyzing its internal strengths and weaknesses as part of its strategic planning process. Which one of the following is most likely to be considered a strategic internal variable for the company?", "options": {"A": "Changes in the legal code for food processors.", "B": "The economic forces that regulate the local labor supply.", "C": "Technological changes in food-processing methods.", "D": "The culture at the company’s food processing plant."}, "num_choices": 4}
{"id": "en-task1-final-dev-032", "question": "The measurement that tells the system designer how far a trade was in loss before it came back to close in profit is called", "options": {"A": "maximum favorable excursion.", "B": "maximum adverse excursion.", "C": "return retracement ratio.", "D": "maximum drawdown."}, "num_choices": 4}
{"id": "en-task1-final-dev-033", "question": "Which of the following statements is correct regarding Form 1095A, Health Insurance Marketplace Statement?", "options": {"A": "Taxpayers do not need Form 1095-A to complete Form 8962, Premium Tax Credit, to reconcile advance payments of the premium tax credit or claim the premium tax credit on their tax return", "B": "Taxpayers will receive Form 1095-A to complete Form 8962, Premium Tax Credit, if they have been covered by an employer insurance plan for the entire year", "C": "Taxpayers will use Form 1095-A to complete Form 8962, Premium Tax Credit, to reconcile advance payments of the premium tax credit or claim the premium tax credit on their tax return", "D": "Taxpayers will attach a Form 1095-A to their tax return to reconcile advance payments of the premium tax credit or claim the premium tax credit on their return"}, "num_choices": 4}
{"id": "en-task1-final-dev-034", "question": "An enrolled agent’s written communications with a client may be privileged if they concern:", "options": {"A": "A criminal tax investigation", "B": "Preparing the client’s tax return", "C": "Representing the client in an IRS examination", "D": "Encouraging the client to participate in a tax shelter"}, "num_choices": 4}
{"id": "en-task1-final-dev-035", "question": "Which of the following is NOT included when calculating if any social security benefits are taxable:", "options": {"A": "Interest that is tax-exempt", "B": "Foreign earned income", "C": "Meals excluded from gross income under section 119", "D": "Employer-provided adoption benefits"}, "num_choices": 4}
{"id": "en-task1-final-dev-036", "question": "A loan of $480,000 is structured such that it is repayable over 25 years, by monthly payments in arrears of amount $2780. Calculate the flat rate of interest paid on the loan.", "options": {"A": "2.89%", "B": "2.56%", "C": "2.95%", "D": "2.87%", "E": "2.55%"}, "num_choices": 5}
{"id": "en-task1-final-dev-037", "question": "Which of the following statements is correct regarding Form 8995 Qualified Business Income (QBI) Deduction Simplified Computation?", "options": {"A": "Corporations should complete the Form 8995 to claim the QBI Deduction on their corporate returns", "B": "Taxpayers will receive the Form 8995 from the IRS, if they are determined to be eligible for the QBI Deduction", "C": "A single individual with QBI, whose taxable income doesn't exceed the threshold amount, should use the Form 8995 to claim the QBI Deduction", "D": "A partnership is required to attach Form 8995 to their partnership tax return to claim the QBI Deduction"}, "num_choices": 4}
{"id": "en-task1-final-dev-038", "question": "Manchester Airlines is in the process of preparing a contribution margin income statement that will allow a detailed look at its variable costs and profitability of operations. Which one of the following cost combinations should be used to evaluate the variable cost per flight of the company’s Boston-Las Vegas flights?", "options": {"A": "Flight crew salary, fuel, and engine maintenance.", "B": "Fuel, food service, and airport landing fees.", "C": "Airplane depreciation, baggage handling, and airline marketing.", "D": "Communication system operation, food service, and ramp personnel."}, "num_choices": 4}
{"id": "en-task1-final-dev-039", "question": "Let X represent the age of an insured automobile involved in an accident. Let Y represent the length of time the insurance contract has been in place at the time of the accident. X and Y have joint probability density function \\(f(x,y)=\\begin{cases} \\cfrac { 1 }{ 64 } (10-x{ y }^{ 2 })\\quad \\quad 2\\le x\\le 10,\\quad 0\\le y\\le 1 \\\\ 0\\quad \\quad \\quad \\quad \\text{otherwise}\\end{cases}\\) Calculate the expected length of time the contract has been in place for an insured automobile involved in an accident.", "options": {"A": "0.4375", "B": "0.5500", "C": "0.1420", "D": "0.2010", "E": "0.8185"}, "num_choices": 5}
{"id": "en-task1-final-dev-040", "question": "Breeze Company has a contribution margin of $4,000 and fixed costs of $1,000. If the total contribution margin increases by $1,000, operating profit would", "options": {"A": "decrease by $1,000.", "B": "increase by more than $1,000.", "C": "increase by $1,000.", "D": "remain unchanged."}, "num_choices": 4}
{"id": "en-task1-final-dev-041", "question": "All of the following are issues that should be considered in evaluating performance when common costs are allocated to business segments\nexcept\nthat", "options": {"A": "cost allocations are not included in the calculation of long‐term cost per unit.", "B": "common costs are not controllable by segment managers.", "C": "the allocation can be affected by the cost drivers used by other segments.", "D": "there may be no cause‐and‐effect relationship between an allocated cost and the segment's operations."}, "num_choices": 4}
{"id": "en-task1-final-dev-042", "question": "The functional currency of an entity is defined as the currency", "options": {"A": "of the entity’s parent company.", "B": "of the primary country in which the entity is physically located.", "C": "in which the books of record are maintained for all entity operations.", "D": "of the primary economic environment in which the entity operates."}, "num_choices": 4}
{"id": "en-task1-final-dev-043", "question": "How much voting stock of Company X does an investment company need to own to be eligible for the use of equity consolidation in preparing its financial statements under U.S. GAAP?", "options": {"A": "15%.", "B": "25%.", "C": "75%.", "D": "100%."}, "num_choices": 4}
{"id": "en-task1-final-dev-044", "question": "A corporation maintains a manufacturing division that manufactures printed circuit boards and an assembly division that produces final products. Currently, the manufacturing division has sufficient capacity to manufacture an additional 5,000 circuit boards. An external market exists for circuit boards. The market price for one circuit board is $80 and the cost to sell is $10. The fixed manufacturing cost per circuit board is $15, and the unit variable cost is $50. The assembly division plans to purchase 4,500 circuit boards. Management of the assembly division thinks that it can purchase from the manufacturing division at a lower price since both divisions are under common control of the corporation. What is the minimum transfer price between the manufacturing division and the assembly division?", "options": {"A": "$50", "B": "$65", "C": "$70", "D": "$80"}, "num_choices": 4}
{"id": "en-task1-final-dev-045", "question": "The owner of a chain of grocery stores has bought a large supply of mangoes and paid for the fruit with cash. This purchase will adversely impact which of the following?", "options": {"A": "Working capital.", "B": "Current ratio.", "C": "Quick or acid test ratio.", "D": "Price earnings ratio."}, "num_choices": 4}
{"id": "en-task1-final-dev-046", "question": "The production manager of the Super T-shirt Company is responsible for the activity of her department and the costs associated with production. Super T adheres to a responsibility-centered budget process, and the manager’s performance is measured by how well she performs to budget. Recently, a dark horse team won the local college basketball tournament. As a result, the sales department, which operates as a profit center, received an order for 10,000 T-shirts, but only if they could be delivered in three days. The production manager said she could meet the schedule, but only by incurring overtime pay that would cause her to be over budget for hourly wages paid. What would be the best course of action for the sales department and the production manager to undertake in this case?", "options": {"A": "Accept the order and overrun the production manager’s budget.", "B": "Refuse the overtime and produce only what the production department is capable of while staying within the budget.", "C": "Accept the order and ignore the effect on the production department budget when conducting the performance review.", "D": "Charge the overtime to the sales department’s budget."}, "num_choices": 4}
{"id": "en-task1-final-dev-047", "question": "Protective clauses set forth in an indenture are known as", "options": {"A": "provisions.", "B": "requirements.", "C": "addenda.", "D": "covenants."}, "num_choices": 4}
{"id": "en-task1-final-dev-048", "question": "Which of the following indicators tracks the breadth of participation in rallies and declines?", "options": {"A": "advance/decline ratio", "B": "MACD line", "C": "relative strength line", "D": "RSI"}, "num_choices": 4}
{"id": "en-task1-final-dev-049", "question": "To meet due diligence requirements, which of the following is true regarding the Earned Income Credit Worksheet and Form 8867?", "options": {"A": "A record must be kept of how, when, and from whom the information used to prepare the Form 8867 and the Worksheets was obtained", "B": "Form 8867 does not need to be filed with the return if all information used to complete the form was provided by the taxpayer in writing", "C": "A record of any questions the taxpayer may have asked the tax preparer about their eligibility for the credits should be retained", "D": "Copies of documents provided by the taxpayer that the return preparer relied on to determine the eligibility for the credits do not need to be retained by the preparer"}, "num_choices": 4}
{"id": "en-task1-final-dev-050", "question": "Which one of the following best describes the record date as it pertains to common stock? Four business days prior to the payment of a dividend.", "options": {"A": "The 52-week high for a stock published in", "B": "The Wall Street Journal.", "C": "The date that is chosen to determine the ownership of shares.", "D": "The date on which a prospectus is declared effective by the Securities and Exchange Commission."}, "num_choices": 4}
{"id": "en-task1-final-dev-051", "question": "Tax preparation fees for individuals are deductible for the current year as:", "options": {"A": "They are not deductible", "B": "A tax credit on Schedule 1", "C": "An investment expense on Schedule A", "D": "A miscellaneous itemized deduction subject to the 2% limit"}, "num_choices": 4}
{"id": "en-task1-final-dev-052", "question": "During the strategic planning process, which one of the following is an external factor to be analyzed?", "options": {"A": "Organizational culture", "B": "Societal culture", "C": "Employee morale", "D": "Organizational structure"}, "num_choices": 4}
{"id": "en-task1-final-dev-053", "question": "Given the following probability density function: $$ f\\left( x \\right) =\\begin{cases} .15 & x=1 \\\\ .25 & x=2 \\\\ .35 & x=3 \\\\ C & x=4 \\end{cases} $$ Calculate the \\({25}^{th}\\) percentile of the distribution.", "options": {"A": "1.5", "B": "2.0", "C": "2.0", "D": "2.5", "E": "2.7"}, "num_choices": 5}
{"id": "en-task1-final-dev-054", "question": "Analyzing a company's technological capabilities, employee skills, and sales team performance will provide", "options": {"A": "external factors that identify the company's strengths and threats.", "B": "internal factors that identify the company's strengths and opportunities.", "C": "external factors that identify the company's strengths and weaknesses.", "D": "internal factors that identify the company's strengths and weaknesses."}, "num_choices": 4}
{"id": "en-task1-final-dev-055", "question": "Attribution models serve to quantify and demonstrate the effects of asset allocation and selection decisions on investment returns. Which of the following is most likely a correct attribution model?", "options": {"A": "Brinson attribution", "B": "ESG attribution", "C": "Sector attribution"}, "num_choices": 3}
{"id": "en-task1-final-dev-056", "question": "The following table shows the number of hours necessary to produce one unit of electronics in both England and India: $$\\begin{array}{c|c|c}\\textbf{Country} & \\textbf{Ipads} & \\textbf{Personal Computers} \\\\ \\hline \\text{England} & 200 & 170 \\\\ \\hline \\text{India} & 160 & 150 \\\\ \\end{array}$$ Which of the following statements is the most accurate ?", "options": {"A": "India has an absolute advantage in producing both iPads and personal computers.", "B": "England has an absolute advantage in producing both iPads and personal computers.", "C": "England should specialize in the production of personal computers and exchange them for iPads produced in India."}, "num_choices": 3}
{"id": "en-task1-final-dev-057", "question": "Which of the following would generally be reported as other income on a Form 1040 Schedule C?", "options": {"A": "Proceeds from international sales", "B": "Bad debts recovered", "C": "Sales tax collected", "D": "Income from bartering"}, "num_choices": 4}
{"id": "en-task1-final-dev-058", "question": "A sign of the successful implementation of a balanced scorecard is the presence of cause‐and‐effect relationship. An example of this success for a hotel is meeting the target of", "options": {"A": "decreasing a customer's check‐in time, which causes an increase in the number of implemented employee suggestions.", "B": "increasing employee training hours, which causes employee compensation to increase.", "C": "increasing profit, which causes an increase in employee job satisfaction ratings.", "D": "receiving more 5‐star ratings from customers, which causes an increase in profit."}, "num_choices": 4}
{"id": "en-task1-final-dev-059", "question": "Richter Company has an unfavorable materials efficiency (usage) variance for a particular month. Which one of the following is least likely to be the cause of this variance?", "options": {"A": "Inadequate training of direct labor employees.", "B": "Poor performance of shipping employees.", "C": "Poor design of the production process or product.", "D": "Poor quality of raw materials."}, "num_choices": 4}
{"id": "en-task1-final-dev-060", "question": "Ticker Company sells two products. Product A provides a contribution margin of $3 per unit, and Product B provides a contribution margin of $4 per unit. If Ticker’s sales mix shifts toward Product A, which one of the following statements is correct ?", "options": {"A": "The total number of units necessary to break even will decrease.", "B": "The overall contribution margin ratio will increase.", "C": "Operating income will decrease if the total number of units sold remains constant.", "D": "The contribution margin ratios for Product A and Product B will change."}, "num_choices": 4}
{"id": "en-task1-final-dev-061", "question": "Consider the following financial data for a company that is preparing its cash flow statement. Amortization expense = $150,000 Cash dividends paid to common shareholders = $75,000 Net income = $1,500,000 Work-in-process inventory increase over the prior year = $300,000 Gain on sale of equipment = $50,000 Using the indirect method, cash flow from operating activities would be", "options": {"A": "$1,225,000.", "B": "$1,300,000.", "C": "$1,350,000.", "D": "$1,375,000."}, "num_choices": 4}
{"id": "en-task1-final-dev-062", "question": "Using management by exception allows managers to focus their attention on", "options": {"A": "areas that have deviated most from expectations.", "B": "nonadministrative costs and revenues.", "C": "unfavorable variances.", "D": "variable costs and revenues."}, "num_choices": 4}
{"id": "en-task1-final-dev-063", "question": "In order to properly segregate duties, which function within the computer department should be responsible for reprocessing the errors detected during the processing of data?", "options": {"A": "Department manager.", "B": "Systems analyst.", "C": "Computer programmer.", "D": "Data control group."}, "num_choices": 4}
{"id": "en-task1-final-dev-064", "question": "A U.S. publicly traded company issued its corporate social responsibility report. The report included the amount of renewable resources it uses in its products. Which one of the following is not a reason for making the disclosure?", "options": {"A": "The company was required by law to file a report with this disclosure.", "B": "The company may be able to charge a premium and gain customer loyalty.", "C": "The report can be used as a marketing tool for the company’s products.", "D": "The report can be used to differentiate the company from its competitors."}, "num_choices": 4}
{"id": "en-task1-final-dev-065", "question": "Which of the following organizational forms provides for the least owner liability of business debts?", "options": {"A": "General partnership", "B": "Private limited company", "C": "Sole proprietorship"}, "num_choices": 3}
{"id": "en-task1-final-dev-066", "question": "With respect to the portfolio management process, the asset allocation is determined in the:", "options": {"A": "Planning step", "B": "Feedback step", "C": "Execution step"}, "num_choices": 3}
{"id": "en-task1-final-dev-067", "question": "Which of the following statements most correctly describes why commodity investments are thought to provide a hedge against inflation?", "options": {"A": "The returns on commodity investing are driven by commodity price changes, and inflation partially reflects these changes", "B": "Commodity prices increase after inflation rates increase", "C": "Expectations of higher inflation cause commodity prices to increase"}, "num_choices": 3}
{"id": "en-task1-final-dev-068", "question": "A company reported the following cost information for the last fiscal year when it produced 100,000 units.\nAll costs are variable except for $100,000 of manufacturing overhead and $100,000 of selling and administrative expenses. Using flexible budgeting, what are the total costs associated with producing and selling 110,000 units?", "options": {"A": "$450,000", "B": "$650,000", "C": "$695,000", "D": "$715,000"}, "num_choices": 4}
{"id": "en-task1-final-dev-069", "question": "In order to analyze sales as a function of advertising expenses, the sales manager of Smith Company developed a simple\nregression model. The model included the following equation, which was based on 32 monthly observations of sales and\nadvertising expenses with a related coefficient of determination of .90.\nS = $10,000 + $2.50A\nS = sales\nA = advertising expenses\nIf Smith Company’s advertising expenses in one month amounted to $1,000, the related point estimate of sales would be", "options": {"A": "$2,500.", "B": "$11,250.", "C": "$12,250.", "D": "$12,500."}, "num_choices": 4}
{"id": "en-task1-final-dev-070", "question": "The marketing manager of Ames Company has learned the following about a new product that is being introduced by Ames. Sales of this product are planned at $100,000 for the first year. Sales commission expense is budgeted at 8% of sales plus the marketing manager’s incentive budgeted at an additional 0.5%. The preparation of a product brochure will require 20 hours of marketing salaried staff time at an average rate of $100 per hour, and 10 hours, at $150 per hour, for an outside illustrator’s effort. The variable marketing cost for this new product would be", "options": {"A": "$8,000.", "B": "$8,500.", "C": "$10,000.", "D": "$10,500."}, "num_choices": 4}