【MOOC】ACCA财务管理F9-西安交通大学 中国大学慕课MOOC答案

【MOOC】ACCA财务管理F9-西安交通大学中国大学慕课MOOC答案QuickQuiz11、【单选题】Whichofthefollowingareexamplesoffinancialobjectivesthatacompanymightchoosetopursue?本题答案：【Restrictingthelevelofgearingtobelowaspecifiedtargetlevel】2、【单选题】Whichisnotoneofthe'ThreeEs'ofvalueformoney?本题答案：【Exigency】3、【单选题】Inthecontextofmanagingperformanceinnotforprofitorganisations,whichofthefollowingdefinitionsisincorrect?本题答案：【Efficiencymeansdoingthingsquickly:minimisingtheamountoftimethatisspentonagivenactivity.】4、【多选题】Whatthreebroadtypesofdecisiondoesfinancialmanagementinvolve?A.InvestmentdecisionsB.FinancingdecisionsC.OperatingdecisionsD.Dividenddecisions本题答案：【Investmentdecisions#Financingdecisions#Dividenddecisions】5、【多选题】Tickwhicharestakeholdergroupsforacompany.本题答案：【Employees#Ordinaryshareholders#TheBoardofDirectors#Tradepayables(suppliers)】6、【判断题】Thedefinitionoffinancialmanagementisthemanagementofthefinancesofanorganisationinordertoachievethefinancialobjectivesoftheorganisation.本题答案：【正确】7、【判断题】Themainfinancialobjectivethatthetheoryofcompanyfinanceassumethatabusinessorganisationhasistomaximisethewealthofthecompany'sboarddirectorsandmanagers.本题答案：【错误】8、【判断题】Ifearningspersharefallfromoneyeartothenext,sowillthelevelofdividends.本题答案：【错误】9、【判断题】Returnoncapitalemployed=Profitafterinterestandtax/Capitalemployed本题答案：【错误】10、【判断题】Goalcongruenceisaccordancebetweentheobjectivesofagentsactingwithinanorganisation.本题答案：【正确】QuickQuiz21、【单选题】Whichofthefollowingfactorscannotinfluencethelevelofexchangerates?本题答案：【Monetaryliquidity】2、【单选题】Whatisthesituationcalledwhenthereisonlyonefirm,thesoleproducerofagood,whichhasnocloselycompetingsubstitutes?本题答案：【Monopoly】3、【多选题】Whatarelikelytobethemainaimsofagovernment'seconomypolicy?本题答案：【Economicgrowth#Controlofpriceinflation#Fullemployment#Balancebetweenimportsandexports】4、【多选题】Whatarethereasonsforgovernmentinterventioninmarkets？本题答案：【Imperfectcompetition#Socialcosts/externalities#Imperfectinformation#Equity】5、【判断题】Agovernment'sfiscalpolicyisconcernedwithtaxation,borrowingandspendingandtheireffectsontheeconomy.Monetarypolicyisconcernedwithmoneyandinterestrates本题答案：【正确】6、【判断题】Ahighinterestrateattractsforeigninvestment,thusincreasingthedemandforthecurrency.Theexchangeraterisesasaresult.本题答案：【正确】7、【判断题】Externalitiesarepositiveeffectsonthirdpartiesresultingfromproductionandconsumptionactivities.本题答案：【错误】8、【判断题】Corporategovernanceisthesystembywhichcompaniesaredirectedandcontrolled.本题答案：【正确】QuickQuiz31、【单选题】Whichofthefollowingisnotafinancialintermediary?本题答案：【Theanswersaboveareallwrong.】2、【单选题】Whichofthefollowingtypesofinvestmentcarriesthehighestlevelofrisk?本题答案：【Ordinaryshares】3、【判断题】Forshort-termborrowing,acompanywillgotothecapitalmarkets.本题答案：【错误】4、【判断题】Stockexchangeisamoneymarket.本题答案：【错误】5、【判断题】IfanIndiancompanyborrowsUSdollarsinAustralia,theloanisknownasanEurocurrencyloan.本题答案：【正确】QuickQuiz41、【单选题】1Whichofthefollowingisthemostlikelytobeasymptomofovertrading?本题答案：【DRapidincreaseinsales】2、【单选题】Whichofthefollowingstatementsbestdefinesthecurrentratio?本题答案：【BTheratioofcurrentassetstocurrentliabilitiesForthemajorityofbusinessesitshouldbeatleast1.】3、【单选题】Whichistheworkingcapitalrequirementofacompanywiththefollowingaveragefiguresoverayear?Inventory3,750Tradeaccountsreceivable1,500Cashandbankbalances500Tradeaccountspayable1,800本题答案：【3950】4、【判断题】Thatacompanywithexcessiveinvestmentinworkingcapitalisover-capitalisation?本题答案：【正确】5、【判断题】Thatcompanytryingtosupporttoolargeavolumeoftradewiththecapitalresourcesatitsisdisposalovertrading?本题答案：【正确】QuickQuiz51、【单选题】Whichofthefollowingisadisadvantagetoacompanyofusingafactorforitsaccountsreceivable?本题答案：【CCreditcustomerspaydirecttothefactor.】2、【单选题】Whichofthefollowingdoesnotdeterminetheamountofcreditofferedbyasupplier?本题答案：【DThenumberofpurchasesmadebythebuyereachyear】3、【单选题】Ifacustomerdecidedtopassupthechanceofacashdiscountof1%inreturnforreducingtheiraveragepaymentperiodfrom70to30days,whatwouldbetheimpliedcostininterestperannum?本题答案：【9.5%】4、【判断题】ThebasicEOQformulaforinventoryindicateswhetherbulkdiscountsshouldbetakenadvantageof.本题答案：【错误】5、【填空题】PBCouses2,500unitsofcomponentXperyear.ThecompanyhascalculatedthatthecostofplacingandprocessingapurchaseorderforcomponentXis$185,andthecostofholdingoneunitofcomponentXforayearis$25.theeconomicorderquantity(EOQ)forcomponentXis本题答案：【192】QuickQuiz61、【单选题】Whichofthefollowingismostlikelytoreduceafirm'sworkingcapital?本题答案：【DAdoptingjust-in-timeprocurementandleanmanufacturing】2、【判断题】Fundsfromtheissueofsharecapitalshouldbeincludedinacashflowforecast?本题答案：【正确】3、【判断题】Revaluationofanon-currentassetshouldbeincludedinacashflowforecast?本题答案：【错误】4、【判断题】Receiptsofdividendsfromoutsidethebusinessshouldbeincludedinacashflowforecast?本题答案：【正确】5、【判断题】Depreciationofproductionmachineryshouldbeincludedinacashflowforecast?本题答案：【错误】QuickQuiz71、【单选题】Ifamachinewithannualrunningcostsof$100,000wasdivertedfromproducingoutputsellingfor$50,000toproducingaspecialorderworth$70,000,whatwouldbetherelevantcostsofwhathashappened?本题答案：【C$50,000】2、【单选题】Ifamachinewithannualrunningcostsof$100,000wasdivertedfromproducingoutputsellingfor$50,000toproducingaspecialorderworth$70,000,whatwouldbethenetincome本题答案：【D$20,000】3、【判断题】Thereturnoncapitalemployedmethodofinvestmentappraisalusesaccountingprofitsbeforedepreciationcharges.本题答案：【错误】4、【判断题】Thefinancialbenefitsofanewinvestmentconsistoftheincreasedsalesrevenuesitgenerates.本题答案：【错误】5、【判断题】Onereasonthatcapitalexpendituremaybeincurredistomaintaintheearningcapacityofexistingnon-currentassets.本题答案：【错误】QuickQuiz81、【单选题】WhatisnotthecashflowtimingconventionsusedinDCF?本题答案：【Acashoutlaytobeincurredattheendofaninvestmentprojectoccursinyear0.】2、【单选题】Foracertainproject,thenetpresentvalueatadiscountrateof15%is$3,670,andatarateof18%thenetpresentvalueisnegativeat($1,390).Whatistheinternalrateofreturnoftheproject?本题答案：【17.2%】3、【多选题】Whichofthefollowingitemsarenotincludedinthecashflowswhendeterminingthenetpresentvalueofaproject?本题答案：【Depreciationchargesfortheequipment#Researchcostsincurredpriortotheappraisal#Interestpaymentsontheloantofinancetheinvestment】4、【判断题】Theperpetuityformulaisannualcashflow/discountrate.本题答案：【正确】5、【判断题】TheadvantagesoftheDCFmethodofprojectappraisaloverotherappraisalmethodsinclude:takingaccountofthetimevalueofmoney,usingallcashflowsrelatingtoaprojectandallowingforthetimingofcashflows.本题答案：【正确】QuickQuiz91、【单选题】Acompanyisappraisinganinvestmentthatwillsaveelectricitycosts.Electricitypricesareexpectedtoriseatarateof15%perannuminfuture,althoughthegeneralinflationratewillbe10%perannum.Thenominalcostofcapitalforthecompanyis20%.Whatistheappropriatediscountratetoapplytotheforecastactualnominalcashflowsforelectricity?本题答案：【20%】2、【单选题】Thenominalcostofcapitalis11%.Theexpectedannualrateofinflationis5%.Whatistherealcostofcapital?本题答案：【5.7%】3、【单选题】RedCoisconsideringthepurchaseofamachinefor$2,190,000.Itwouldbesoldafterfouryearsforanestimatedrealisablevalueof$790,000.Bythistimetax-allowabledepreciationof$1,450,000wouldhavebeenclaimed.Therateoftaxis30%.Whatisthecashflowarisingasaresultoftaximplicationsonthesaleofthemachineattheendoffouryears?本题答案：【Outflowof$15,000】4、【单选题】Acompanywantsaminimumrealreturnof3%ayearonitsinvestments.Inflationisexpectedtobe8%ayear.Whatisthecompany'sminimumnominalcostofcapital?本题答案：【11.24%】5、【判断题】Tax-allowabledepreciationisusedtoincreasetaxableprofits,andtheconsequentreductioninataxpaymentshouldbetreatedasacashpaymentarisingfromtheacceptanceofaproject.本题答案：【错误】6、【判断题】Whentheplantiseventuallysold,thedifferencebetweenthesalespriceandthereducingbalanceamountwillbetreatedasataxableprofitifthesalespriceexceedsthereducingbalance,andasatax-allowablelossifthereducingbalanceexceedsthesalesprice.本题答案：【正确】7、【判断题】Therelationshipbetweenthenominalrateofreturn,therealrateofreturnandtherateofinflationis(1+nominalrate)=(1+realrate)′(1+inflationrate).本题答案：【正确】QuickQuiz101、【单选题】Aninvestmentprojecthasthefollowingdiscountedcashflows($’000).YearDiscountrate0%10%20%0(90)(90)(90)13027.325.023024.829.833022.517.443020.514.5305.1(12.3)Therequiredrateofreturnoninvestmentis10%perannum.Whatisthediscountedpaybackperiodoftheinvestmentproject?本题答案：【Between3yearsand4years】2、【多选题】TheexamplesofuncertainindependentvariablesonwhichtheNPVofaprojectmaydependinclude:本题答案：【Salesvolume#Costofcapital#Initialcost#Operatingcosts】3、【多选题】Managerscanreduceriskinwhichway?本题答案：【Setmaximumpaybackperiod#Usehighdiscountingrate#Usesensitivityanalysistodeterminethecriticalfactorswithinthedecision-makingprocess#Usepessimisticestimates】4、【判断题】Sensitivityanalysisallowsforuncertaintyinprojectappraisalbyassessingtheprobabilityofchangesinthedecisionvariables.本题答案：【错误】5、【判断题】Expectedvaluescanhelpanaccountantevaluatetherangeofpossiblenetpresentvalueoutcomes.本题答案：【错误】6、【判断题】TheCertainty-equivalentapproachiswhereexpectedcashflowsareconvertedtorisklessequivalentamounts.本题答案：【正确】7、【判断题】Simulationmodelsconstructedbyassigningarangeofrandomnumberdigitstoeachpossiblevalueofeachoftheuncertainvariables.本题答案：【正确】QuickQuiz111、【单选题】Thenetpresentvalueofthecostsofoperatingamachineforthenextthreeyearsis$10,724atacostofcapitalof15%.Whatistheequivalentannualcostofoperatingthemachine?本题答案：【$4697】2、【多选题】Whyhardcapitalrationingmayoccur?本题答案：【Raisingmoneythroughthestockmarketmaynotbepossibleifsharepricesaredepressed.#Therearerestrictionsonlendingduetogovernmentcontrol.#Lendinginstitutionsmayconsidertheorganizationtobetoorisky.#Thecostsassociatedwithmakingsmallissuesofcapitalmaybetoogreat.】3、【判断题】Hardcapitalrationingoccurswhenarestrictiononanorganization’sabilitytoinvestcapitalfundsiscausedbyaninternalbudgetceilingimposedbymanagement.本题答案：【错误】4、【判断题】ThebestwaytofindtheoptimalsolutioninasituationofsingleperiodrationingwithindivisibleprojectsistousetrialanderrorandtesttheNPVavailablefromdifferentprojectcombinations.本题答案：【正确】5、【判断题】Anindivisibleprojectisaprojectthatmustbeundertakencompletelyornotatall.本题答案：【正确】6、【判断题】Thelesseeisresponsiblefortheservicingofaleasedassetinthecaseofanoperatinglease.本题答案：【错误】7、【判断题】Toranktheprojectsaccordingtotheirprofitabilityindexisthebestwaytofindtheoptimalsolutioninasituationofsingleperiodrationingwithdivisibleprojects?本题答案：【正确】QuickQuiz121、【单选题】Acompany'sshareshaveanominalvalueof$1andamarketvalueof$3.Inarightsissue,onenewsharewouldbeissuedforeverythreesharesatapriceof$2.60.Whatisthetheoreticalex-rightsprice?本题答案：【$2.90】2、【单选题】Whichofthefollowingisleastlikelytobeareasonforseekingastockmarketflotation?本题答案：【Improvingtheexistingowners'controloverthebusiness】3、【单选题】Whichofthefollowingisnottrueofarightsissuebyalistedcompany?本题答案：【Ifshareholdersdonottakeuptherights,therightslapse.】4、【多选题】Whyacompanymayseekastockmarketlisting?本题答案：【accesstoawiderpooloffinance#improvedmarketabilityofshares;transferofcapitaltootheruses#enhancementofcompanyimage#makinggrowthbyacquisitionpossible】5、【填空题】Acompanyhas12%loannotesinissue,whichhaveamarketvalueof$135per$100nominalvalue.Whatishecouponrate?本题答案：【12%】6、【填空题】Acompanyhas12%loannotesinissue,whichhaveamarketvalueof$135per$100nominalvalue.Whatistheamountofinterestpayableperannumper$100(nominal)ofloannote?本题答案：【$12】QuickQuiz131、【单选题】Whichofthefollowingsourcesoffinancetocompaniesisthemostwidelyusedinpractice?本题答案：【Retainedearnings】2、【单选题】Ascripdividendis:本题答案：【Adividendpaymentthattakestheformofnewsharesinsteadofcash】3、【判断题】Acompanyofferstopayadividendintheformofnewshareswhichareworthmorethanthecashalternativewhichisalsooffered.Thisdividendintheformofsharesiscalledanenhancedscripdividend.本题答案：【正确】4、【判断题】'Signalling'inthecontextofdividendspolicyistheuseofdividendpolicytoindicatethefutureprospectsofanenterprise.本题答案：【正确】QuickQuiz141、【多选题】Whatarethemaincharacteristicsofsmallandmedium-sizedenterprises?本题答案：【Firmsarelikelytobeunquoted.#Ownershipofthebusinessisrestrictedtoafewindividuals,typicallyafamilygroup.#Theyarenotmicrobusinessesthatofferamediumforself-employmentoftheirowners.】2、【判断题】Thereturnsoncapitalinvestmentmustexceedtheinterestpayableontheextradebtusedtofinancetheinvestment.Thisconditionhastobefulfilledforincreasedfinancialgearingtoresultinincreasedearningspershare.本题答案：【正确】3、【判断题】BusinessangelfinancingisdirectinvestmentinSMEsbyindividualsorsmallgroupsofinvestors.本题答案：【正确】4、【填空题】()gearing=Totalcapitalemployed/Priorchargecapital本题答案：【Financial】5、【填空题】()gearing=Contribution/Profitbeforeinterestandtax本题答案：【Operational】6、【填空题】（）=Profitbeforeinterestandtax/Interest本题答案：【Interestcoverageratio】7、【填空题】Debtratio=本题答案：【Totaldebt:Totalassets##%_YZPRLFH_%##Totaldebt/Totalassets】QuickQuiz151、【单选题】Whichofthefollowingriskscanbeeliminatedbydiversification?本题答案：【Unsystematicrisk】2、【单选题】Aportfolioconsistingentirelyofrisk-freesecuritieswillhaveabetafactorof本题答案：【0】3、【单选题】Whencalculatingtheweightedaveragecostofcapital,whichofthefollowingisthepreferredmethodofweighting?本题答案：【Currentmarketvaluesofdebtandequity(ignoringreserves)】4、【判断题】Unsystematicriskismeasuredbybetafactors.本题答案：【错误】QuickQuiz161、【多选题】Whatarethemainproblemsinusinggearedandungearedbetastocalculateafirm'sequitybeta?本题答案：【(a)Itisdifficulttoidentifyotherfirmswithidenticaloperatingcharacteristics.#(b)Estimatesofbetavaluesfromsharepriceinformationarenotwhollyaccurate.#(c)Theremaybefirm-specificcausesofdifferencesinbetavalues.#(d)Themarketmayrecogniseopportunitiesforfuturegrowthforsomefirmsbutnotothers.】2、【多选题】本题答案：【Line1isthecostofequityinthegearedcompany.#Line2istheweightedaveragecostofcapital.#Line3isthecostofdebt..#Point4istheoptimallevelofgearing.】3、【判断题】TheModiglianiandMillertheoryisbasedonperfectcapitalmarketswhichdonotexistintherealworld.本题答案：【正确】4、【填空题】Assumingdebtisriskfreeba=本题答案：【(Ve)/(Ve+Vd(1-T))】QuickQuiz171、【单选题】Whichisthemostrealisticbasisforvaluinganassetthatistocontinuetobeusedinabusiness?本题答案：【Replacementbasis.】2、【多选题】Choosethecircumstancesinwhichthesharesofanunquotedcompanymightneedtobevalued.本题答案：【Settinganissuepriceifthecompanyisfloatingitsshares#Whensharesaresold#Fortaxpurposes#Whensharesarepledgedascollateralforaloan】3、【判断题】P/Eratio=Shareprice/EPS本题答案：【正确】4、【判断题】Theroleofthechartistortechnicalanalystinstockmarketsistoidentifysharesthatareunder-orover-valuedbycalculatingthepresentvalueoftheirexpectedfutureearningsstream.本题答案：【错误】5、【判断题】TheP/Eratioareusedwhenalargeblockofshares,orawholebusiness,isbeingvalued.本题答案：【正确】6、【判断题】Cuminterestpricesshouldalwaysbeusedincalculationsinvolvingdebt.本题答案：【错误】QuickQuiz181、【单选题】Whichtheoryofsharepricebehaviourdoesthefollowingstatementdescribe?'Theanalysisofexternalandinternalinfluencesontheoperationsofacompanywithaviewtoassistingininvestmentdecisions.'本题答案：【Fundamentalanalysistheory】2、【单选题】Aninvestorbelievesthattheycanmakeabnormalreturnsbystudyingpastsharepricemovements.Intermsofcapitalmarketefficiency,towhichofthefollowingdoestheinvestor’sbeliefrelate?本题答案：【Technicalanalysis】3、【单选题】WhartonFingersCohasjustmadeapublicannouncementthatitplanstolaunchanewproductontothemarketthatshouldreducethevolatilityofitsreportedannualprofits.OnthesamedaySalivaCo,afoodproductsmanufacturer,haspubliclyannouncedthatithaswithdrawnsubstantialinventoriesofitsproductfromitsretailcustomersbecauseofareportedfoodpoisoningincident.Ifneitheroftheseitemsofinformationhadbeenmadepublicbefore,whateffectshouldtheynowhaveonthecompanies'shareprices,assumingthatthestockmarkethassemi-strongformefficiency?本题答案：【WhartonfinersCoshareprice:IncreaseSalivaCoshareprice:Decrease】4、【单选题】Theefficientmarkethypothesisexistsinanumberofformsthatrelatetodifferentlevelsofinformationprocessingefficiency.Inthesemi-strongformofthehypothesis,whichoneofthefollowingtypesofinformationwillnotinfluencetheshareprice?本题答案：【Specialistinformation】5、【多选题】Whichfactorsaffectsharepricebehavior?本题答案：【Investorspeculation#Marketabilityandliquidityofshares#Information#Pricinganomalies】6、【判断题】Randomwalktheorystatesthatpastsharepricepatternstendtoberepeated.本题答案：【错误】7、【判断题】Fundamentalanalysistheorystatesthatthevalueofashareisthediscountedpresentvalueofall.本题答案：【正确】8、【判断题】Weakformefficiencystatesthatsharepricesreflectallinformationinpastsharepricerecord.本题答案：【正确】9、【判断题】Chartismstatesthatasharepricecanbeexpectedtofluctuatearoundits'intrinsic'value.本题答案：【错误】QuickQuiz191、【单选题】Whichofthefollowingisnotoneofthetypesofcurrencyrisk?本题答案：【Liquidityrisk】2、【单选题】Whichoneofthefollowingisnotoneofthemethodsofforeigncurrencyriskmanagement?本题答案：【Backwardexchangecontracts】3、【单选题】Whichoneofthefollowingisnotoneofthetypesofforeigncurrencyderivativeusedtohedgeforeigncurrencyrisk?本题答案：【Currencydefaultswaps】4、【判断题】Forwardexchangerateisanexchangeratesetfortheexchangeofcurrenciesatsomefuturedate本题答案：【正确】5、【判断题】Theprincipleofpurchasingpowerparitymustalwayshold本题答案：【错误】QuickQuiz201、【单选题】Whichofthefollowingisnotanexplanationforadownwardslopeintheyieldcurve?本题答案：【Liquiditypreference】2、【多选题】Whichonesofthefollowingarethetypesofinterestratederivativeusedtohedgeinterestraterisk?本题答案：【Futurescontracts#Interestrateswaps#Interestrateoptions#Caps,collarsandfloors】3、【判断题】SHIBORistherateofinterestthatappliestowholesalemoneymarketlendingbetweenLondonbanks本题答案：【错误】4、【判断题】Basisriskiswhereacompanyhasassetsandliabilitiesofsimilarsizes,bothwithfloatingratesbuttheratesarenotdeterminedusingthesamebasis.本题答案：【正确】5、【判断题】Forwardrateagreementshedgeriskbyfixingtheinterestrateonfutureborrowing本题答案：【正确】6、【判断题】Gapexposureiswhereafirmisexposedtointerestrateriskformdifferingmaturitiesofinterest-sensitiveassetsandliabilities本题答案：【正确】Chapter1TheFinancialManagementfunction1、【单选题】Whichofthefollowingistrue?本题答案：【Financialmanagementdecisionsincludedividenddecisions】2、【单选题】WhichofthefollowingisNOTaconnectedstakeholder?本题答案：【Localcommunity】Chaper2Financialmanagementenvironment1、【单选题】WhichofthefollowingstatementsisNOTcorrect?本题答案：【Moneymarketderivativesincludecertificatesofdepositsandmoneymarketdeposits】2、【单选题】WhichofthefollowingisNOTafinancialintermediary?本题答案：【Shareholder】Chapter3Workingcapitalinvestment1、【单选题】Hanistomakeapaymentof$10,000toasupplier.A2%discountisavailableforpayingafteronemonthinsteadofthestandardtermofthreemonths.Whatistheannualpercentagecostofthediscount?本题答案：【12.9%】Chapter4Cashmanagementandworkingcapitalfinance1、【单选题】Whichoneofthefollowingwouldlengthentheworkingcapitalcycle?本题答案：【Increasingcreditgiventocustomers】2、【多选题】WhichTWOofthefollowingarederivatives?本题答案：【Swap#Forwardcontract】Chapter5Investmentdecision1、【填空题】Acompanyisofferingitscustomersachoiceofacashdiscountof2%forpaymentwithin10daysoftheinvoicedateorpayinginfullwithin40days.What'stheeffectiveannualinterestrateofcashdiscount(tothenearestwhole%)?本题答案：【28%】Chapter6Allowingfortax,workingcapitalandinflation1、【多选题】Indecisionmaking,costswhichneedtobeconsideredarecalledrelevantcosts.WhichTWOofthefollowingarerelevantcosts?本题答案：【Futurecosts#Incrementalcosts】Chapter7Projectappraisalanddecisions1、【判断题】ResidualtheorystatesthatdividendsshouldbepaidaheadofinvestinginpositiveNPVprojects.本题答案：【错误】Chapter8Specificinvestmentdecisions1、【填空题】Usingadiscountrateof10%peryear,thenetpresentvalueofaprojecthasbeencorrectlycalculatedas$50.Ifthediscountrateisincreasedby1%,theNPVoftheprojectfallsby20$.Whatistheinternalrateofreturnoftheproject?本题答案：【12.5%】Chapter9Sourcesoffinance1、【判断题】Sukuk(debtfinance)holdershavelittleinfluenceovertheactionsoftheSukukmanagers.本题答案：【错误】2、【判断题】UnderaMusharakacontract(venturecapital),profitsaresharedbetweenparternersaccordingtoratiosinthecontract.本题答案：【正确】3、【判断题】AnIjaratransactionistheIslamicequivalentofalease.本题答案：【正确】Chapter10Dividendpolicy1、【判断题】AccordingtoModiglianiandMiller,inaperfectcapitalmarket,shareholdersareindifferentbetweendividendsandcapitalgains.本题答案：【正确】2、【填空题】Sparrawhasjustpaidanordinarydividendof30cpershare.Thesharesarenowtradingat480c.Ifdividendgrowthisexpectedtobe3%perannum,whatisthecompany'scostofeauity?本题答案：【9%】Chapter11Thecostofcapital1、【单选题】TheeauitysharesofHFhaveabetavalueof0.90.Thisrisk-freerateofreturnis6%andthemarketriskpremiumis7%.Taxis30%.WhatistheexpectedreturnonequityforHF?本题答案：【12.3%】Chapter12Capitalstructure1、【判断题】Thetraditionalviewisthat,intheabsenceoftax,acompany'scapitalstructurewouldhavenoimpactonitswieghtedcostofcapital(WACC).本题答案：【错误】2、【判断题】Thenetoperatingincomeapproach(MM)assumesthatdebtisriskfree.本题答案：【正确】Chapter13Businessvaluations1、【判断题】Technicalanalysisisbasedonthetheorythatsharepricescanbederivedfromananalysisoffuturedividends.本题答案：【错误】2、【判断题】Underthestrongformhypothesisofmarketefficiency,sharepricesreflectallavailableinformationaboutpastchangesintheshareprice.本题答案：【错误】Chapter14Foreigncurrencyrisk1、【判断题】Transactionriskistheriskthattheorganisationwillmakeexchangelosseswhentheaccountingresultsofitsforeignbranchesareshowninthehomecurrency.本题答案：【错误】2、【判断题】Economicriskistheeffectonthepresentvalueoflonger-termcashflows.本题答案：【正确】Chapter15Interestraterisk1、【填空题】Thespotrateis3.4670Kroneperdollar.TheborrowratesinCountryA(currency=dollar)areat8%andinCountryK(currency=Krone)theyareat13%.Thereisnoforwardrateforoneyear'stime.Whatwouldinterestrateparitypredicttheforwardexchangerateperdollartobeinoneyear?(Krone)本题答案：【3.63Krone】Thefinalexam1、【单选题】Thenetpresentvalueofthecostsofoperatingamachineforthenextthreeyearsis$10,724atacostofcapitalof15%.Whatistheequivalentannualcostofoperatingthemachine?本题答案：【A$4,697】2、【单选题】Whichofthefollowingisnottrueofarightsissuebyalistedcompany?本题答案：【CIfshareholdersdonottakeuptherights,therightslapse.】3、【单选题】Whichofthefollowingsourcesoffinancetocompaniesisthemostwidelyusedinpractice?本题答案：【DRetainedearnings】4、【单选题】Ascripdividendis:本题答案：【CAdividendpaymentthattakestheformofnewsharesinsteadofcash】5、【单选题】Whichofthefollowingriskscanbeeliminatedbydiversification?本题答案：【DUnsystematicrisk】6、【单选题】Whencalculatingtheweightedaveragecostofcapital,whichofthefollowingisthepreferredmethodofweighting?本题答案：【CCurrentmarketvaluesofdebtandequity(ignoringreserves)】7、【单选题】Whichtheoryofsharepricebehaviourdoesthefollowingstatementdescribe?'Theanalysisofexternalandinternalinfluencesontheoperationsofacompanywithaviewtoassistingininvestmentdecisions.'本题答案：【CFundamentalanalysistheory】8、【单选题】Whichofthefollowingisnotanexplanationforadownwardslopeintheyieldcurve?本题答案：【ALiquiditypreference】9、【单选题】Whichofthefollowingareexamplesoffinancialobjectivesthatacompanymightchoosetopursue?本题答案：【BRestrictingthelevelofgearingtobelowaspecifiedtargetlevel】10、【单选题】Inthecontextofmanagingperformanceinnotforprofitorganisations,whichofthefollowingdefinitionsisincorrect?本题答案：【CEfficiencymeansdoingthingsquickly:minimisingtheamountoftimethatisspentonagivenactivity.】11、【单选题】Whatisthesituationcalledwhenthereisonlyonefirm,thesoleproducerofagood,whichhasnocloselycompetingsubstitutes?本题答案：【CMonopoly】12、【单选题】Whichofthefollowingtypesofinvestmentcarriesthehighestlevelofrisk?本题答案：【DOrdinaryshares】13、【单选题】Whichofthefollowingstatementsbestdefinesthecurrentratio?本题答案：【BTheratioofcurrentassetstocurrentliabilitiesForthemajorityofbusinessesitshouldbeatleast1.】14、【单选题】Whichofthefollowingdoesnotdeterminetheamountofcreditofferedbyasupplier?本题答案：【DThenumberofpurchasesmadebythebuyereachyear】15、【单选题】Whichofthefollowingisadisadvantagetoacompanyofusingafactorforitsaccountsreceivable?本题答案：【CCreditcustomerspaydirecttothefactor.】16、【单选题】Whichofthefollowingismostlikelytoreduceafirm'sworkingcapital?本题答案：【DAdoptingjust-in-timeprocurementandleanmanufacturing】17、【单选题】Ifamachinewithannualrunningcostsof$100,000wasdivertedfromproducingoutputsellingfor$50,000toproducingaspecialorderworth$70,000,whatwouldbetherelevantcostsofwhathashappened?本题答案：【C$50,000】18、【单选题】Foracertainpro