更多"An analyst does research about the "的相关试题:
[单项选择]An analyst does research about capital asset pricing model approach and gathers the following information about a company and the market:
| Equity beta | 1.5 |
| Equity risk premium | 15% |
| Risk-free rate | 3% |
| Before-tax cost of company's debt | 9% |
Using the capital asset pricing model approach, the company's cost of equity capital is closest to:（）
A. 18.0%
B. 21.0%
C. 25.5%
[单项选择]An analyst does research aboutthe capital asset pricing model (CAPM) and the security market line (SML). With respect to the CAPM and SML, if a security has a beta of 1.3, that security should:（）
A. plot above the security market line.
B. have an above average risk premium.
C. have above average unsystematic risk.
[单项选择]An analyst does research about asset-backed securities. Which of the following is least accurate Special purpose vehicles:（）
A. create a subsidiary of the sponsoring corporation to hold assets.
B. reduce exposure to the bankruptcy risk of the sponsoring corporation.
C. are non-operating entities created to carry out a special purpose such as leasing assets or securitizing receivables.
[单项选择]An analyst does research about asset classes. When an investor defines an asset class for the purpose of asset allocation, which of the following statements is most accurate The investor should ensure that assets in one class:（）
A. have high paired correlations with other asset classes and relatively homogeneous.
B. have low paired correlations with other asset classesand relatively heterogeneous.
C. have low paired correlations with other asset classesand relatively homogeneous.
[单项选择]An analyst does research about asset beta and gathers the following information about a company:
·Market value of equity is $900000
·Book value of equity is $1100000
·Market value of debt is $1000000
·Book value of debt is $950000
·Equity beta is 2.3
·Marginal tax rate is 40%（）
A. Assuming the company's debt has no market risk, the company's asset beta is closest to: 1.36
B. 1.38
C. 1.49
[单项选择]An analyst does research about deferred tax asset and liability and gathers the following information about a company:
| Pre-tax accounting profit | $26000 |
| Depreciation expense for accountmg purposes | $2100 |
| Depreciation expense for tax | $3000 |
| Income tax rate | 35% |
Assuming there are no other differences between accounting and tax profit, the company most likely records:（）
A. A deferred tax asset of $315.
B. A deferred tax liability of $315.
C. A deferred tax liability of $585.
[单项选择]An analyst does research about capital budgeting and gathers the following information about two independent projects:
| NPV | IRR |
| Project 1 | $121200 | 16.7% |
| Project 2 | $919790 | 13.6% |
If there is no capital rationing and the company's cost of capital is 10.5%, the company should invest in:（）
A. Project 1.
B. Project 2.
C. both Project 1 and Project 2.
[单项选择]An analyst does research about capital structure and gathered the following information about a company:
·Return on assets is 5.0%
·Financial leverage (Total assets/equity) is 2.5
·Beta for the company's stock is 1.5
If the company wants to achieve a growth rate of 10% without changing its capital structure or issuing new equity, the maximum dividend payout ratio for the company would be closest to:
A. 10.0%
B. 12.5%
C. 20.0%
[单项选择]An analyst does research about capital structure. Which of the following is the least appropriate method to estimate the capital structure weights when a company's target capital structure is unknown to analysis
A. Using the book value of capital components.
B. Using industry average capital components.
C. Analyzing trends in capital components to infer the target capital structure.
[单项选择]An analyst does research about capital market line (CML). According to capital market theory, if an investor holds a portfolio that lies on the capital market line to the left of the market portfolio, that investor should expect that his portfolio will:（）
A. eam less than the return on the market portfolio.
B. earn more than the return on the market portfolio.
C. haveless unsystematic risk than the market portfolio.
[单项选择]An analyst does research about capital budgeting. A company that has a weighted average cost of capital of 17 percent is considering an independent capital project that has the same risk as the company, an estimated internal rate of return of 19 percent and cash inflows that are expected at equal intervals over the life of the project. If the project is accepted, cash flows associated with the project are received as expected, and the company's weighted average cost of capital remains unchanged over the life of the project, the actual rate of return earned by the project is most likely to be:（）
A. less than 19%.
B. more than 19%.
C. equal to 19%, because the actual cash flows equal the expected cash flows.
