[LEVEL II 模拟试题] Mock Level II - Question 41-45

Kakashi_8

Question：41
! _, x' T- a) \+ @- \4 h- vThere are at least four factors that contribute to a firm’s profitability and pricing decisions. All of the following are factors that firms consider when establishing their pricing practices EXCEPT:
6 c  _8 s& X, X4 b# {A)product segmentation.
B)ease of entry into the industry.
C)degree of industry concentration.
: `7 K3 R: q- n" }D)product demographics.

Question：42
Jax, Inc., pays a current dividend of $0.52 and is projected to grow at 12 percent. If the required rate of return is 11 percent, what is the current value based on the Gordon growth model?
- W" d* J; o) rA)$39.47.
6 X( i" B0 x$ f& s/ OB)unable to determine value using Gordon model.
C)$53.32.
. D9 d1 u$ s& @9 J5 o9 @D)$58.24.

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Question：43
8 w& {, h% w# vThe difference between free cash flow to equity (FCFE) and free cash flow to the firm (FCFF) is:
4 g+ j) w4 |8 U) ~9 {9 yA)earnings before interest and taxes (EBIT) less taxes.
& h% X+ m7 T; d5 f# P2 R' |6 eB)after-tax interest and net borrowing.
- Y) z0 B. P# `. R: SC)before-tax interest and net borrowing.
/ L8 I, ~+ T# X; tD)capital expenditures.

$ Z; G/ i9 L& X" c; qQuestion：44
Good Sports, Inc., (GSI) has a leading price to earnings (P/E) ratio of 12.75 and a 5-year consensus growth rate forecast of 8.50 percent. What is the firm’s P/E to growth (PEG) ratio?
A)0.67.
& P: Y, [% Y4 eB)150.00.
C)6.67.
+ Q+ ^0 n8 M! i9 QD)1.50.
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Question：45
A method commonly used to normalize earnings is the method of:
A)average return on assets.
( o0 [0 s8 A, f" f" S, S8 tB)historical average earnings per share (EPS).
( X  O  {- K, q* |C)comparables.
1 k- c7 L8 `* W& X( ?, I3 bD)forecasted fundamentals.
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Kakashi_8

答案和解答详解如下：
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