财务管理试卷及答案(英文版)

examination problems for fundamentals of financial management 2004-2005(paperb)I . multiple choice(20 points)(please write your answer in the following table)文豪1234567891011121314151617181920选项1.()is concerned with the acquisition，financialing，and management of assets with some overall goal in mind。A.financial management b . profit maximization c . agency theoryd . social responsibility2.a major disadvantage of the corporate form of organization is the()。A.double taxation of dividendsB.inability of the firm to raise large sums of additional capitalC.limited liability of shaeholdersD.limited life of the corporate erest paid(earned)on both the original principal borrored(compel lent)和previous interest earned is oftened to as()A.present value b . simple interest c . future value pound interest4.if the intrinsic value of a share of common stock is less than its market value，which of the following is the most reasonable conclusion？A.The stock has a low level of risk .B.the stock offers a high dividend payout ratio。C.the market is under valuing the stock。D.the market is over valuing the stock。5.a 250 face value share of preferred stock，Pays a 20 annual dividend and investors require a 7% return on this investment。if the security is currently selling for 276，What is the difference(over valuation)between its intrinsic and market value(roundA.approximately 26b。approximately 10c。approximately 6d。approximately 16.Felton farm supplies，Inc .has an 8 percent return on total assets of 300，000 and a net profit margin of 5 percent。what are its sales？A.3，750，000b.480，000c.300，000d.1，500，0007.a company是lower(improve)its debt-to-total asset ratio by doing which of the following？A.borrow more . b . shift short-term to long-term de Bt . c . shift long-term to short-term de Bt . d . issue common stock。8.the DuPont approach breaks down the earning power on sharee holders book value(roe)as follows 3360 roe=()。A.net profit margin total asset turn over equity multiplierB.total asset turn over gross profit margin debt ratioC.total asset turn over net profit marginD.total asset turn over gross profit margin equity multiplier9.which of the following items concerns financialing decision？（）A.sales forecasting b . bond issuing c . receivables collection d . investment project selection10.which of the following items is the function of a treasurr？（）A.cost accounting b . internal control c . capital budgeting d .总帐11.for financial instruments，()is judged in relation to the ability to sell a significant volume of securities in a short period of time withoutA.maturity b . market ability c . defaultd . inftranslation12.()is the value at some future time of a present amount of money，or a series of payments，evaluated at a given interest rate。A.future value b . present value c . intrinsic value d . market value13.ellesere corporation issues 1 million $ 1 par value bonds。the stated interest rate is 6% per year and the interest is paid twistance a year。what is the real interest rate of the bond？（）A.6% B.3% C. 12% D. (1 6%/2)2-114.assume that dividends of a common stock will be maintained at d forever，and the required return of the stock holders r，the par value of the stockA.m B. m D C. m D/r D. D/r15.which of the following items has the most risk？（）A.treasury bill b . corporate bond c . preferred stock mon stock16.()equals the gross profit divided by net sales of a firm。A.gross profit profit marginc .return on investment d . return on equity17.(a)is the ratios that measure a firm s ability to meet short-termobligationsA.liquiditty ratios b . leverage ratios c . coverage ratios d . activity ratios18.(a)is the result of net profit margin total asset turning over(total assets/sharee holders equity)A.return on equity b . return on investment c . current ratio d . quick ernment tax law adjustment is(a)to a firm。A.general economic risk b . infation and defation risk c . firm-specific riskD.international risk20(a)equals the gross profit divided by net sales of a firm。A.gross profit profit marginc .return on investment d . return on equity二.statement judgement(10 points)(please write your answer in the following table)文豪12345678910或1.until around the first half of the 1900s，financial managers priarily raised funds and managed their firm s cash positions。（）2.in general，the higher the market ability of a security，the greater the yield neceary to attract investors()3.discount rate is the interest rate used to convert future values to present values。（）4.the expected return of a port folio is simply a weighted average of the expected return of the securies comprising that port folio()5.5 .the type of analysis varies according to the specific interests of the party invlved()6.in a sole proprietor ship，the owner is personally responsible for all financial obligations of the firm。（）7.when a stock goes ex-rights， its market price theoretically declines .（）8.the market price of a partiicular bond is much greater today than it was yesterda