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CFA Level I sample question
CFA Level I requires question
Equity Investments
Security Market Indexes
A price-weighted index initially contains three stocks priced at 60, 90, and 150, with divisor 3. The 150 stock then has a 3-for-1 split, and the divisor is adjusted immediately. At the next close, prices are 63, 87, and 55. The index return from immediately before the split to the next close is closest to:
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