CFA Practice Question

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CFA Practice Question

The time value of money underlies ______.

I. rates of return, interest rates, and required rates of return
II. discount rates and opportunity costs
III. inflation and risk
Correct Answer: I, II and III

User Contributed Comments 9

User Comment
quanttrader What does "underlies" mean?
Oarona To form the basis of something. In this case I,II and III are all based on the time value of money. Hence the time value of money underlies them.
johntan1979 underly = affect
carsonson I think underlie = affected by
Stacerz02 Will there be ?s on cfa where you select all of the above such as this one? Thanks.
Safiya921 On the CFA exam you'll have 3 choices, one of which might ask for all of the 2 other answers.
marianne19 see answer ofoarona
armynso underlie = situated under/by
EEEEvia will CFA exam indicate the question whether single or multiple answers?
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