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

Kakashi_8

Question：41
There 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:
A)product segmentation.
B)ease of entry into the industry.
, B" K* p: l  S6 I& V+ Q- Z( c9 `C)degree of industry concentration.
1 g' W, q* f2 |3 \: ^D)product demographics.

- w" r' v* [. \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?
4 N; A" C. [" X/ |- {* QA)$39.47.
B)unable to determine value using Gordon model.
# X2 W6 g5 X5 `- U, UC)$53.32.
* F5 h6 U* c8 @, v: `D)$58.24.


+ W1 J. Q$ l. h* v( a+ `Question：43
The difference between free cash flow to equity (FCFE) and free cash flow to the firm (FCFF) is:
A)earnings before interest and taxes (EBIT) less taxes.
# D2 p3 }& v& w5 M# DB)after-tax interest and net borrowing.
C)before-tax interest and net borrowing.
- D# F& C% q* [  @2 M+ v% ^D)capital expenditures.

Question：44
9 @# K: k1 a) c+ S( t9 P, \0 `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?
( ~1 t2 h' @( P- q- W, vA)0.67.
: L! u& ?8 W5 \3 `B)150.00.
& S$ W7 o' q' b' U: c  oC)6.67.
& Y  @7 m, x- c. z% FD)1.50.

: B3 d! `2 U# B6 B5 ZQuestion：45
A method commonly used to normalize earnings is the method of:
8 R0 l- p$ D5 O2 _6 pA)average return on assets.
% c' @' @/ L  d* i3 H9 ?2 B9 zB)historical average earnings per share (EPS).
C)comparables.
; M1 c* M2 Z( P6 n7 E. Y' B; RD)forecasted fundamentals.
5 J& A/ Z. }# n- t) y- ^4 c8 \
2 q5 u$ _$ V2 J6 _
) }3 n( Q& q/ @( X3 z. L

Kakashi_8

答案和解答详解如下：
8 o# J; F; [' R* a1 G

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