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

Kakashi_8

Question：36 - 27854
Which of the following is NOT a possible consequence of takeover defenses? Takeover defenses:
A)
$ R' G1 r% x' }1 g# `6 J1 rprovide managers greater job security.
B)
may start a bidding war for the firm’s shares.
C)
change the firm’s legal status from public to private.
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! G* D4 n1 u) e0 U& Rforce the acquirer to negotiate directly with the firm’s Board of Directors.
Question：37 - 27901
& v' A4 K! f1 kWhich of the following statements regarding internal capital markets is FALSE?
7 a# i4 t/ F, V/ z$ r% kA)
/ f9 D6 S, ~  z) TPolitical obstacles are likely to exist in efficiently allocating resources.
* D7 @' S& L# |% lB)
. r7 |! ^4 j3 k, tManagement can channel free cash flow from mature business lines to high growth ventures.
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The firm can credibly signal the quality of new ventures.
D)
9 K5 R: v8 U) g( }# w0 kThe firm can save money by not issuing securities in the capital markets.
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Question：38 - 9865
7 U  i" I, n8 |0 l- P3 x" sOverestimating the growth rate of a firm in using a valuation model would result in a value that is likely to be:
* U! @, N( q" F6 @6 [A)
" t. b3 m0 B4 X* t$ Wtoo low.
B)
% T' x4 h, s1 `& C* R% V! y' wcan't tell from this information.
C)
7 t3 d3 `. c( p/ z" X; ntoo high.
D)
# g5 |% E% g$ f/ v3 a, x7 A; c; every accurate.
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7 I0 r  i) \* N/ M% f, ~Question：39 - 9849
The goal of asset valuation, based on the expected future cash flows of an asset, is to establish an asset’s:
A)
! N, E0 g% g3 M3 m, d8 p5 a: V7 drelative value.
9 F1 ]  Y$ ~9 ^* XB)
) [# k7 k! h2 }+ Qfuture value.
1 ]+ R/ h) l( \4 X0 V. h! {  oC)
0 o" n& W4 T* w; ?  P% M8 tintrinsic value.
D)
! r+ v- L2 L1 T4 F; |* f" R) tmarket value.
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0 t( U  v2 y& [: E# EQuestion：40 - 9947
8 M4 t# @" o8 I* W! |2 |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)
# T) ?( ?2 R: p3 y% P* MAn 18 percent market share is too large to create a sustainable competitive advantage.
1 s8 J: J8 R0 `# r$ HC)
Market share goals are not a competitive strategy.
- F  {6 |0 e& b  z: }D)
The market share goal must be considered in relation to the number of competitors.

Kakashi_8

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