CFA Level 1 － 模考试题(1)(PM) Q77-78

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Question 77

When evaluating the qualifications of a board member, which of the following is least likely to be considered a positive factor? The board member:
7 B8 g: t' f6 [5 x* u8 C! VA)    has board membership in excess of 10 years.
& s1 L2 }$ |! BB)   regularly attends meetings.
C)   has made public statements regarding his ethical positions.
D)   has experience on other boards.
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Question 78
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: n1 m7 ~8 |5 U* RWhich of the following is most accurate regarding the component costs and component weights in a firm’s weighted average cost of capital (WACC)?
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; b5 S/ G- ~, }A)    The dividend exclusion for corporate investments in preferred stock reduces the after-tax cost of preferred stock.
: ^: F; v: X+ z% jB)   The weights in the WACC should be based on the book values of the individual capital components.
C)   The appropriate pre-tax cost of a firm’s new debt is the average coupon rate on the firm’s existing debt.
D)   Taxes reduce the cost of debt for firms in countries in which interest payments are tax deductible.

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