考試題學(xué)習(xí)練習(xí)是備考日常，今天我們?cè)賮?lái)學(xué)習(xí)一下CFA考試題，畢竟這樣的考試題是練習(xí)不完的！

1、Which of the following statements regarding a direct financing lease is least accurate?

A. The principal portion of the lease payment is a cash inflow from investing on the lessor's cash flow statement.

B. Interest revenue on the lessor's income statement equals the implicit interest rate times the lease payment.

C. The lessor recognizes no gross profit at the inception of the lease.

2、Which of the following statements about the impact of leases on the financial statements of the lessee is least accurate?

A. Net income is lower in the early years of a finance lease than an operating lease.

B. A finance lease results in higher liabilities compared to an operating lease.

C. Cash flow from investing is higher for a finance lease than an operating lease.

3、Interest expense is reported on the income statement as a function of:

A. the market rate.

B. the coupon payment.

C. the unamortized bond discount.

第1題：solution：B

answer：Interest revenues are calculated by multiplying the implicit interest rate by net receivables at the beginning of the period.

第2題：solution：C

answer：Cash flow from investing is not affected by a lease being either a finance or an operating lease. Finance leases reduce cash flow from operations by only the portion of the lease payment attributed to interest expense. Cash flow from financing is reduced by the rest of the finance lease payment which is the principal part of the payment.

第3題：solution：A

answer：Interest expense is always equal to the book value of the bond at the beginning of the period multiplied by the market rate at issuance.