[简答题]Tinashe a medical doctor owns a residential stand in Mandara, Harare. He met his friend Sandra, whom he told that he intended to sell his residential stand for $5,000,000. Sandra told Tinashe that she would be interested in buying it but Tinashe did not say anything. During the week Sandra received an e-mail with Tinashe’s bank account details and Sandra proceeded to deposit $5,000,000 into the account. She phoned Tinashe the following day requesting that he effect a change of title and transfer the title deeds to the stand into her name. Tinashe did not reply to this. He realised that he could have made more profit had he sold the stand in foreign currency and refused to change the title deeds but instead insisted on repaying Sandra the money paid to him. He maintained that there was no contract between them. Required: In relation to the law of contract, explain to Sandra whether she has any remedies available to her. (10 marks)

[填空题]After a medical examination, the doctor gave me a (favorably) ______ report on my health.

[单项选择]A CFA charterholder owns an asset management firm with offices downtown. To minimize rent expenses, each year the charterholder ships the previous year’s research report to a nearby warehouse. There, the reports are digitized and stored in both electronic and hard-copy forms. After five years, all paper copies are destroyed and only electronic copies are retained. Are the charterholder’s record-retention procedures in compliance with the CFA Institute Standards of Practice（）
A. No.
B. Yes, because he is only required to retain hard copies for five years.
C. Yes, because he still retains electronic copies of the original documents.

[单项选择]They stand（）
A. under the sun
B. in the sun
C. over the sun
D. against the sun

[单项选择]A fixed income portfolio manager owns a $5 million par value noncallable bond. The bond’s duration is 5.6 and the current market value is $5125000. The dollar duration of the bond is closest to:（）
A. $280000.
B. $287000.
C. $700000.

[单项选择]Bill Kimm, CFA owns an asset management firm with offices downtown. To minimize rent expenses, each year Bill ships the previous year’s research records to a nearby warehouse. There, the reports are digitized and stored in both electronic and hard-copy forms. After five years, all paper copies are destroyed and only electronic copies are retained. Are Bill’s record-retention procedures in compliance with the CFA Institute Standards of Practice（　）
A. Yes.
B. No, because he did not retain the copies in his offices.
C. No, because he failed to retain the original documents.

[单项选择]AlcoBanc owns a piece of property that is under consideration for a new bank branch. Which of the following is least likely a relevant incremental cash flow in analyzing a capital budgeting project The:（）
A. interest costs of a loan for the property purchase.
B. business gained at other branches due to new customers at the proposed site.
C. loss of customers at alternative branches due to conducting business at the proposed site.

[简答题]Lebogang owns a shoe retail store in Gaborone. She regularly receives consignments of shoes from Takutaku Wholesalers. In the last six months of 2010, Lebogang had been in negotiations with Takutaku about the price of the shoes supplied to her. Takutaku wished to increase prices by 10% to account for increased costs of materials. Lebogang had been negotiating for only a 5% increment. In February 2011, Takutaku sent a letter to Lebogang stating as follows: ‘We have considered your position. We are prepared to offer you the usual shoe consignment at a compromise increment of 7·5% unless we hear otherwise.’ In March 2011, Takutaku sent a consignment of shoes to Lebogang. The unit price on each pair of shoes supplied had been increased by 7·5%. Lebogang did not reply to Takutaku. In September 2011, Takutaku sent Lebogang a letter of demand claiming payment for the March 2011 consignment. Lebogang then responded as follows: ‘You will be well aware that negotiations between us were inco

[单项选择]

M: Doctor! Doctor! Help me, please!
W: Take it easy, please! Sit here, now, what’s the matter with you And can I help you
M: I feel sick. I have a bad stomach-ache, and my head troubles me a lot.
W: Well, let me have a check. Open your mouth please. And say "Ah".
M: Ah! Is that serious, doctor
W: Not really. Did you have your supper this evening
M: No, I only had some bananas.
W: And the bananas were not quite ripe, fight
M: Well, yes, they were a bit green.
W: That explains it.
M: I wish I had not eaten them.
W: Take this medicine twice a day and I’m sure you’ll be fine.
M: Thanks, doctor. I’ll do as you told me. Good-bye, doctor.
W: Bye! And take care.

Did the man have a had headache（）
A. Yes, he did.
B. No, he didn’t.
C. We are not sure.

[简答题]Anna owns a gallery. In order to attract people to attend her next show, she advertised in the newspaper that the first person to go in would have the opportunity to purchase a signed Andy Warhol poster for EUR200. Ben is an art collector and he would love to buy a signed Andy Warhol poster for EUR200. Ben decided to camp outside Anna’s gallery for two days. When the show opened, Ben was the first person to go in. Anna informed Ben that there were no Andy Warhol posters for sale at that show. Required: Advise Ben whether he has any cause of action against Anna. (5 marks)

[单项选择]An investor owns an annual-pay bond that matures in five years with a 5% COUpon rate and a $1000 face value. If the discount rate is 8%, the value of the bond is closest to:（）
A. $878
B. $880
C. $1081

[简答题]Andrew owns shares in ABC Plc, whose accounts were audited by Carla. The accounts of the financial year, which ended on 31 December 2010, showed that ABC Plc had made a profit of EUR1,000,000 when it should have shown a loss of EUR500,000. After seeing those accounts, Andrew bought more shares in ABC plc. Andrew later realised that the new shares he had bought were in fact worth much less than what he had paid for them. Required: Advise Carla whether she owes a duty of care to Andrew. (10 marks)

[单项选择]An investor owns a share of stock worth $ 75 and buys a put option for a premium of $ 2 with a strike price of $ 65. What are the risk and return characteristics of the portfolio The:（）
A. portfolio has unlimited downside risk, but the upside potential is limited to $ 65.
B. portfolio’s downside risk is a price of $73, but there is no maximum to the upside potential.
C. portfolio’s downside risk is a price of $ 63, but there is no maximum to the upside potential.

[单项选择]　第二篇 Medical Education 　　In 18th．century colonial America，those who wanted to become physicians either learned as personal students from established professionals or went abroad to study in the traditional schools of London，Paris{and Edinburgh．Medicine was first taught formally by specialists at the University of Pennsylvania，beginning in 1765，and in 1767 at King’s College(now Columbia University)，the first institution in the colonies to give the degree of doctor of medicine．Following the American Revolution，the Columbia medical faculty(formerly of King’S College) was combined with the College of Physicians and Surgeons，chartered in 1809，which survives as a division of Columbia University． 　　In 1893 the Johns Hopkins Medical School required all applicants to have a college degree and was the first to afford its students the opportunity to further their training in an attached teaching hospital．The growth of medical schools attached with established institu
A. did not exist．
B. were few in number．
C. were better than those in Europe．
D. were known for their teaching hospitals．

[简答题]Bao owns 10% of the ordinary shares in XYZ Joint Stock Company, a shareholding company. Having read the annual report of the company he is angry that the Board of Management has awarded signifi cant pay increases to five key senior employees on the basis that they have developed new products that are expected to contribute substantial profits in the next fi ve years. The products are still under development and will not be launched until next year. The company is proposing a reduction in dividends for the current year in order to provide extra capital for investment in the new products, even though the company’s profi ts have increased signifi cantly over those earned in previous years. Required: (b) Explain the extent to which Bao and his fellow shareholders can infl uence the dividend distributed to shareholders. (4 marks)