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

Kakashi_8

Question：41
: ^0 u' r; \# a  Z7 c0 c9 A# b2 CThere 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:
! s  I3 n& }: i" n8 V: R6 P9 Y, RA)product segmentation.
B)ease of entry into the industry.
/ b8 W) T3 F" S9 WC)degree of industry concentration.
1 J; d. `: l3 v; S& r" u9 ZD)product demographics.
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4 J# I( z$ A2 [) |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?
, g9 V8 M, g1 B- IA)$39.47.
9 m: T' H2 [5 vB)unable to determine value using Gordon model.
, r8 R0 S7 q, u$ [6 }1 f  P$ BC)$53.32.
! M& _: T# i' l) e% kD)$58.24.

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* o" R# C( J* `, X5 EQuestion：43
, I0 Q( I- m) \The difference between free cash flow to equity (FCFE) and free cash flow to the firm (FCFF) is:
9 _! \% L6 |$ T4 ?$ lA)earnings before interest and taxes (EBIT) less taxes.
B)after-tax interest and net borrowing.
# i0 ], C& T1 B% kC)before-tax interest and net borrowing.
D)capital expenditures.
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* l" {. A" U1 ?Question：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?
0 [& @# M/ O3 B* tA)0.67.
B)150.00.
; C6 u4 o6 V0 C5 R! V, `C)6.67.
( H0 G# z& O5 G1 wD)1.50.

Question：45
A method commonly used to normalize earnings is the method of:
8 O' K/ P1 D, C( y9 W) J; M$ t, i3 VA)average return on assets.
B)historical average earnings per share (EPS).
C)comparables.
D)forecasted fundamentals.
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Kakashi_8

答案和解答详解如下：
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