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Free CFA Alternative Investments Practice Questions & Answers

550 exam-style Alternative Investments questions. Pick your answer, hit Check answer, and see the worked solution — free to start, no signup.

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Question 61

A REIT that owns grocery-anchored shopping centers likely benefits from:

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Question 62

A REIT’s dividend yield increases when:

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Question 63

A REIT with high tenant concentration faces:

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Question 64

A REIT’s share price often moves with:

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Question 65

A REIT with long-duration leases is less sensitive to:

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Question 66

A REIT that frequently issues new equity may experience:

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Question 67

Which REIT sector is most sensitive to e-commerce growth?

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Question 68

A REIT with variable-rate debt is exposed to:

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Question 69

A REIT’s management quality is most evident in:

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Question 70

A REIT trading at a discount to NAV may indicate:

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Question 71

A REIT has: - Property value: 900 million - Debt: 300 million - Cash: 50 million - Shares: 50 million NAV per share = ?

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Question 72

FFO = 120 million Depreciation = 40 million AFFO subtracts recurring capex of 15 million. AFFO = ?

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Question 73

Dividend = 2.00 Share price = 40 Dividend yield = ?

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Question 74

Property value = 500 million Debt = 200 million NAV = ?

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Question 75

AFFO = 80 million Shares = 20 million AFFO per share = ?

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Question 76

Dividend payout ratio = dividend / AFFO Dividend = 1.20 AFFO per share = 1.50 Payout ratio = ?

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Question 77

Share price = 30 FFO per share = 2 P/FFO = ?

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Question 78

NAV per share = 20 Share price = 18 Premium/discount = ?

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Question 79

Debt = 400 million Equity market cap = 600 million Leverage ratio (debt / total capital) = ?

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Question 80

AFFO = 100 million Dividend = 85 million Retention ratio = ?

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Question 81

A dedicated short‑bias fund performs best when:

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Question 82

Merger arbitrage profits primarily from:

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Question 83

In a cash merger, the arbitrageur typically:

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Question 84

In a stock‑for‑stock merger, the arbitrageur typically:

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Question 85

Global macro funds primarily trade based on:

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Question 86

A volatility arbitrage strategy profits when:

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Question 87

A merger deal offers $50 cash per share. Target trades at $48. Spread = ?

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Question 88

A stock‑for‑stock deal offers 0.5 shares of Acquirer for each Target share. Acquirer trades at $40. Implied value of Target = ?

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Question 89

A convertible bond arbitrageur buys a bond for 1,000 and shorts stock worth 300. Net investment = ?

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Question 90

A trend‑following model goes long when price rises 5% above its moving average. Moving average = 100 Signal triggers at price = ?

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Free CFA Alternative Investments Practice Questions & Answers

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