23周年

财税实务 高薪就业 学历教育
APP下载
APP下载新用户扫码下载
立享专属优惠
安卓版本:8.6.69 苹果版本:8.6.69
开发者:北京东大正保科技有限公司
应用涉及权限: 查看权限>
APP隐私政策: 查看政策>

"Corporate Finance":Capital asset pricing model

来源: 正保会计网校 编辑:小鞠橘桔2020/11/16 09:25:27 字体:

学习是一个不断积累的过程,每天学习一点,每天进步一点!为了帮助大家更高效地备考2021年CFA考试,正保会计网校每日为大家上新CFA习题供大家练习。让网校与您一起高效备考2021年CFA考试,梦想成真!

Questions 1:

A firm with a marginal tax rate of 40% has a weighted average cost of capital of 7.11%. The before-tax cost of debt is 6%, and the cost of equity is 9%. The weight of equity in the firm’s capital structure is closest to:

A 、79%.

B、 65%.

C 、37%.

Questions 2:

Which method of calculating the firm’s cost of equity is most likely to incorporate the long-run return relationship between the firm’s stock and the marketportfolio?

A、 Capital asset pricing model

B 、Dividend discount model

C、 Bond yield plus risk premium approach

View answer resolution
【Answer to question 1】B

【analysis】

B is correct.

Corporate Finance:Capital asset pricing model

A is incorrect. It is calculated by dividing 7.11 by 9.

C is incorrect. It fails to adjust debt for taxes.

【Answer to question 2】A

【analysis】

A is correct. The capital asset pricing model uses the firm’s equity beta, which is computed from a market model regression of the company’s stock returns against market returns.

B is incorrect. Dividend discount model estimates the equity risk premium by adding the dividend yield and the growth rate in dividends.

C is incorrect. Cost of equity under this method is the additional of cost of debt and risk premium (the additional yield on a company’s stock relative to its bonds).

成功=时间+方法,自制力是这个等式的保障。世上无天才,高手都是来自刻苦的练习。而人们经常只看到“牛人”闪耀的成绩,其成绩背后无比寂寞的勤奋。小编相信,每天都在勤奋练习,即使是一点点的进步,大家一定可以成为人人称赞的“牛人”。更多CFA考试资讯,点击了解>

回到顶部
折叠
网站地图

Copyright©2000 - 2023 www.fawtography.com All Rights Reserved. 北京东大正保科技有限公司 版权所有

京ICP证030467号京ICP证030467号-1出版物经营许可证京公网安备 11010802023314号

正保会计网校

报考小助理

备考问题
扫码问老师