[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)
' m: R6 v- u* q% x1 yprovide managers greater job security.
+ w$ G" I, p" v8 J' @, ?B)
may start a bidding war for the firm’s shares.
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8 Y" }3 Q& C% R" Ychange the firm’s legal status from public to private.
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force the acquirer to negotiate directly with the firm’s Board of Directors.
Question：37 - 27901
Which of the following statements regarding internal capital markets is FALSE?
5 j, L& A6 c: ^( z3 dA)
Political obstacles are likely to exist in efficiently allocating resources.
$ R' w( s2 O% m9 z+ {& n, ^6 [! uB)
3 Y6 v0 M( J# F; y$ XManagement can channel free cash flow from mature business lines to high growth ventures.
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% V. W* Q; d1 A8 e# t$ AThe firm can credibly signal the quality of new ventures.
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4 y; z8 G2 ~0 k( |) [2 mThe firm can save money by not issuing securities in the capital markets.

& ?4 ^% @" G* j  }$ H, j( v' ]- CQuestion：38 - 9865
Overestimating the growth rate of a firm in using a valuation model would result in a value that is likely to be:
A)
too low.
0 R8 ?; V2 y" z; |& q& JB)
can't tell from this information.
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too high.
3 V  Z/ g: m& t7 c0 dD)
5 _0 [: h0 ?$ O- H- V! Yvery accurate.

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! y8 @/ u4 S9 n+ F$ B& [# KQuestion：39 - 9849
The goal of asset valuation, based on the expected future cash flows of an asset, is to establish an asset’s:
A)
9 p9 L5 {: e2 H0 Orelative value.
B)
* y5 D# k0 h: q7 c2 h7 a' Mfuture value.
C)
intrinsic value.
D)
market value.
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4 _. \' {. C' F1 ]Question：40 - 9947
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?
5 N$ z& b- V/ T9 |9 S) vA)
An 18 percent market share is sufficient to create a sustainable competitive advantage.
' a. E3 P5 z$ n! w; N; A  v/ ?B)
An 18 percent market share is too large to create a sustainable competitive advantage.
C)
' O& w3 [/ i! U- a/ K/ i$ v' O4 fMarket share goals are not a competitive strategy.
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) _' o0 `, ?1 YThe market share goal must be considered in relation to the number of competitors.
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Kakashi_8

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答案和解答详解如下：
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