Your great aunt has promised to give you a $150,000 inheritance upon her death. If you had the money today, you could invest it at a rate of 4.5% per year. What is the present value of your inheritance if your aunt lives for 10 more years?

Using a few valuation models and a range of inputs, an analyst estimates a security's intrinsic value to be between $18 to $22. The security is trading at $21.5. The security appears to be:

You invest $100 in a risky asset with an expected rate of return of 12% and a standard deviation of
1 5% and a T-bill with a rate of return of 5%. What percentages of your money must be invested in the risk-free asset and the risky asset, respectively, to form a portfolio with a standard deviation of 6%?

There are six components of the Code of Ethics that CFA Institute members and candidates are to follow. Which of the following is not one of these components?

Sampling error is: