[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)
provide managers greater job security.
B)
0 j" R& |2 s# ]( Y& d& P  U! Nmay start a bidding war for the firm’s shares.
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0 f( J% G2 Q6 b6 {change the firm’s legal status from public to private.
D)
force the acquirer to negotiate directly with the firm’s Board of Directors.
3 W4 S% A9 g0 p* PQuestion：37 - 27901
5 O5 f% b" @( E  P9 B3 F, wWhich of the following statements regarding internal capital markets is FALSE?
A)
8 m6 I7 b3 r0 L  `Political obstacles are likely to exist in efficiently allocating resources.
B)
Management can channel free cash flow from mature business lines to high growth ventures.
C)
The firm can credibly signal the quality of new ventures.
+ J! Y! E0 c& K6 ^5 {D)
6 T2 C5 C, ~2 H) e& YThe firm can save money by not issuing securities in the capital markets.
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9 F1 h, W0 x5 y& Z; UQuestion：38 - 9865
; ?* }  _- w6 X6 j) M  hOverestimating the growth rate of a firm in using a valuation model would result in a value that is likely to be:
A)
too low.
B)
: v* G1 I& T, M/ G% ^can't tell from this information.
  Y% L, s) ~7 @+ c$ }; OC)
6 X/ B( R  O4 q7 A0 D( |7 g0 ~- ftoo 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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5 S' i: N1 M' D+ D. m) qrelative value.
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future value.
C)
intrinsic value.
D)
! E/ U9 r) M& }% Mmarket value.

Question：40 - 9947
, K: G" C" x5 d, TRoger 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?
9 q/ N1 t. V# h/ j$ E# r- RA)
/ r1 ?! C8 O% h5 R( [! N3 VAn 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.
C)
Market share goals are not a competitive strategy.
1 c& y2 y5 h5 a# L4 }9 t4 ^6 MD)
The market share goal must be considered in relation to the number of competitors.
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Kakashi_8

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