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Orientações apostila – PQO Certificação. Orientações apostila – PQO Certificação. Orientações apostila – PQO Certificação. Likes: 0 Category: All Report. 0. View presentations and documents with title Apostila pqo cap_08_v2 on SlideShare, the world’s largest community for sharing presentations. Apostila PQO 17 Uploaded by. Fabio Zen. Guia de Sucesso Na Bolsa de Valores. Uploaded by. Fabio Zen. Agência USP de Notícias» Simulab Alia Teoria.

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PubHTML5 site will be inoperative during the times indicated! CHF in the triangle, so make trades that go in that direction red arrows. Triangular Arbitrage Method 1 1. Use ask price of USD 0. Use bid price of USD 0. The CHF should buy 0.

Assuming real rates are constant real rate parity: Changes in exchange rates will just offset changes in price levels i. Graph of labor productivity vs.

PQO Certificação – Apostila 2017 parte 1

Growth in capital per worker — capital deepening movement along the productivity curve 2. Growth AccountingFollowing information is available for Bundovia: Growth AccountingBecause we are not given the growth rate intechnology, we have to the use the second relation: Short-term economic growth 2.

Classical Growth Theory 2. Neoclassical Growth Theory 3. Capital deepening occurs affecting output but not the growth rate2. Economy will move towards its steady state equilibrium regardless of initial capital to labor ratio or level of technology3.

Mehmet mentions that an Indian corporate client exporting to the United Kingdom wants to estimate the potential hedging pao for a sale closing in one year. He anticipates it will generate a higher return than buying a one-year domestic note at the current market quote due to low US interest rates and his predictions of exchange rates in one year.

CFA L2 Apostila 01 Exame – COMPLETA IMPRESSÃO Pages – – Text Version | PubHTML5

To help Mehmet assess the carry trade, Mehmet provides Smith with selected current market data and his one year forecasts in Exibith 3. Because its Japanese subsidiary is about to close on a major Apoatila acquisition in three business days, the client wants to lock in a trade involving the Japanese yen and the Euro as early as possible the next appostila, preferably by 8: The group agrees that a theoretical explanation of exchange rate movements, such as the framework of the international parity conditions, should be applicable across all trading environments.

They note such analysis should enable traders to anticipate future spot exchange rates. But they disagree on which parity condition aostila predicts exchange rates, voicing several different assessments.

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Smith concludes the discussion on parity conditions by stating to the trainees: Smith asks Trainee 1 to describe the three approaches.

In response, Trainee 1 makes the following statements to the other trainees and Smith: Discussion Questions Solution Based on Exhibit 2, the most appropriate recommendation regarding the triangular arbitrage trade is to: Discussion Questions Solution 21 2.

Based on Exhibit 3, the potential all-in USD return on the carry trade is closest to: Discussion Questions Solution 3Exhibit 3: He anticipates it will generate a higher return thanbuying a one-year domestic note at the current market quotedue to low U. Discussion Questions Question Discussion Questions Solution 4Factors affecting spread: If uncovered interest rate parity holds, thenA. Which of the following statements given by Trainee 1 in describing the approaches used by CGER is most accurate?

Macroeconomic Balance focuses on the stocks of outstandingassets and liabilities. Reduced Form has a weakness in underestimating futureappreciation of undervalued currencies. External Sustainability centers on adjustments leading to long-term equilibrium in the capital account. Macroeconomic balance approach—clues from current account deficits 2. External sustainability approach—clues from external debt relative to GDP 3. Questions — SS 4 — Economics for ValuationQuestion 1 – 6Calisto is a developed market nation with large natural resources, oil and precious metals, withgrowing financial markets.

Calisto is a stable constitutional monarchy with elected representativesas the legislative body, appointed and legislative-majority approved judges as the judicial body,and the ruling royal family as the executive body. Calisto is a member of Qpo, an alliance of three bordering countries, Calisto, Olaguay, andPeristan, that formed a regional monetary union.

Regulatory standardization among the three countries was part of the prerequisite for each to join. The standard ization covers most major governmental agencies but does not cover all industries. Calisto anticipates having to bear additional costs and loss of productivity in some of their businesssectors.

Oil and precious metal extractions are expected to be affected by environmentalregulations. Calisto restructured their financial regulatory institutions into three different organizations with eachinstitution serving as government recognized self regulatory organizations SRO for oversight andenforcement for the industry.

One example of an ETC regulation is: All companies listed on the Calistose Stock Exchange arerequired to furnish audited financial statements on quarterly and annual basis prepared by Calistoseaccounting firms.

Before ETC rules and regulations, Calisto’s equities markets were less liquid. The volume of tradeshave increased significantly since ETC has become the self regulatory organization for financialmarkets.

More Calistose citizens are buying stocks and listing of both Calistose and foreign stockshas risen significantly over the last ten years – Calisto est. Population in millions Most food items are not taxed. Government revenues are derived from taxes and oilrevenues from government owned lands.

Tobacco and alcohol consumption in Calisto has been on the rise over the last years. Over the sametime period smoking rates have fallen in Olaguay, and Peristan.


Olaguay and Peristan both havehigher tax rates on tobacco products, government warnings on tobacco packaging and anti-smokingmarketing campaigns. Tobacco companies have purposefully targeted Calisto by lowering pricesbecause of the higher demand. Fines and penalties for insider trading are prohibitive high. Individuals who are fiduciaries andrepresent financial firms who are caught for insider trading can face more severe punishment forthemselves and their firms.

B An administrative regulation. C A judicial law. Question 2A possible apostla rationale for Calistose increase in demand for equities is that the regulationintervention has lowered: A Externalities of public goods. Apostilz The savings rate. Question 3The differences in the consumption of tobacco is most likely a result of: A Using pricing mechanisms.

B Regulatory capture theory. Question 4Which industry could possibly benefit from Calisto’s regulatory changes? C AccountancyQuestion 5The most likely reason for an increase in demand for equities stemming from ETC’s regulations isthat disclosure requirements lead to: A Higher investor confidence.

B Mitigation of agency issues. Question 6The least likely tool of regulatory intervention of the anti-smoking campaign is: A Anti-smoking advertisements as financing of private projects. B Warning labels as aposila certain activities. C Higher taxes as a price mechanism.

Question 7 – aplstila, Pratia and Surico are neighboring nations. The three countries share borders andfrequently trade with each other. Wisterbon A developing pqk focusing on labor intensive industries because it lacks many naturalresourcesSurico A developed nation Largest trading partner for both the other two countriesThe following economic and demographic statistics are available for the three countries. Long-term growth rate of capital 1. Commentspertaining to concerns regarding future growth potential included: We are concerned about the GDP per capita and population growth.

The current GDPper capita appears to be beyond the subsistence level. We are concerned that the output per capital ratio has been constant. It is likelythat the equilibrium growth rate has been reached and the economy cannot grow any faster.

We are concerned that we are not investing enough in infrastructure and educationto increase the growth rate. Some common initiatives for economic growth were listed from the TEGF: Fund a technology research center 2. Lower trade barriers 3. Provide financial incentives for innovation 4.

Coordinate energy policies 5. Invest in educationEach country decided to adopt four of the five initiatives. Pratia did not like lowering trade barriers. Surico did not like coordinating energy policies.