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

Kakashi_8

Question：41
; \6 u9 H$ _  Q0 B4 P" u. jThere 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.
C)degree of industry concentration.
D)product demographics.
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Question：42
2 _! W2 h- a7 F+ A+ mJax, Inc., pays a current dividend of $0.52 and is projected to grow at 12 percent. If the required rate of return is 11 percent, what is the current value based on the Gordon growth model?
. [! Y$ p. r5 @( l3 ~) S  x4 L; iA)$39.47.
* j5 o8 W% h% ~: i% T' s0 g$ T* ~B)unable to determine value using Gordon model.
C)$53.32.
D)$58.24.


Question：43
- F4 a9 B& Y2 R* O7 oThe difference between free cash flow to equity (FCFE) and free cash flow to the firm (FCFF) is:
4 N' _$ c: }1 t- FA)earnings before interest and taxes (EBIT) less taxes.
- h" N/ |" t: f1 SB)after-tax interest and net borrowing.
C)before-tax interest and net borrowing.
D)capital expenditures.
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! q0 S% ?- Z" W( H9 z$ B, TQuestion：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?
  r( E6 H6 B. b# T# S# \5 }/ D, {+ iA)0.67.
) E4 U' R1 N2 R9 MB)150.00.
C)6.67.
$ ^, y; U& P, B" k) b$ gD)1.50.
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Question：45
$ B5 |6 _. G6 z4 Q; n  fA method commonly used to normalize earnings is the method of:
A)average return on assets.
1 i9 `9 c- [7 M+ |- q2 Q% s5 wB)historical average earnings per share (EPS).
* g' h, [+ U& Y% d" wC)comparables.
% Q$ \! n* L. X, Q# ~D)forecasted fundamentals.
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Kakashi_8

答案和解答详解如下：
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