[LEVEL II 模拟试题] Mock Level II - Question 36-40

Kakashi_8

Question：36 - 27854
, n5 Z. J% A* lWhich of the following is NOT a possible consequence of takeover defenses? Takeover defenses:
A)
provide managers greater job security.
B)
may start a bidding war for the firm’s shares.
C)
/ K9 G9 E3 I+ L; o5 S& c9 [change the firm’s legal status from public to private.
D)
force the acquirer to negotiate directly with the firm’s Board of Directors.
  h6 ]  c- Q3 L* ?* H/ Z& ?3 G+ HQuestion：37 - 27901
Which of the following statements regarding internal capital markets is FALSE?
A)
1 o+ ~1 a! N& q0 v' |Political obstacles are likely to exist in efficiently allocating resources.
' P8 M9 q5 N8 ~) Z3 h% H* nB)
Management can channel free cash flow from mature business lines to high growth ventures.
C)
" p; ]' k# S: PThe firm can credibly signal the quality of new ventures.
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2 c) b  U$ p  \& h! L) ]+ {* ^3 QThe firm can save money by not issuing securities in the capital markets.

Question：38 - 9865
: j5 i3 S! F- dOverestimating the growth rate of a firm in using a valuation model would result in a value that is likely to be:
4 S) b7 `; i  ]3 \  M( t! H* a' pA)
; V; R' k+ Q3 m+ }. M' gtoo low.
B)
- G9 B0 u+ A' Ccan't tell from this information.
7 e7 s; q! |( B2 L2 E- ~C)
too high.
D)
very accurate.
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Question：39 - 9849
The goal of asset valuation, based on the expected future cash flows of an asset, is to establish an asset’s:
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' r% F* h) G6 T) h7 w* W. irelative value.
4 ?9 B; E& N9 ~. S! F. ^B)
3 L- A. f* B  n* Xfuture value.
& N  e; P* ?! i, p7 w; i1 kC)
0 N( A+ D3 A3 v/ Z. C7 w) q- H8 i4 {intrinsic value.
D)
$ f' ?$ }- n  C+ ^# I: D$ S. ?. vmarket value.
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/ E0 s2 [8 Q9 j/ E, O9 Z3 JQuestion：40 - 9947
Roger Miller is the CEO of MetaCorp. MetaCorp is attempting to implement a strategic plan to establish a sustainable competitive advantage. The main thrust of the plan is to achieve a market share of at least 18 percent. Miller hires a strategy consultant to review the plan. The consultant concludes that MetaCorp’s strategic plan is inadequate. Which of the following is a likely reason for the consultant’s conclusion?
A)
An 18 percent market share is sufficient to create a sustainable competitive advantage.
B)
An 18 percent market share is too large to create a sustainable competitive advantage.
4 F" g. ~& w8 RC)
0 s- r, D6 f% X+ Q  C$ tMarket share goals are not a competitive strategy.
- _0 ~; S8 C' K( R, R. tD)
The market share goal must be considered in relation to the number of competitors.

Kakashi_8

; f3 v$ @* Y; f+ m2 Q% A* B8 N答案和解答详解如下：
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