최신 Other CPA Certification FIN 무료샘플문제:
1. Consider the following statements concerning financial options:
1.The time value of an option is the value assigned to the possibility that the price of the underlying item will move infavorof the option writer.
2.The time value of an option less its intrinsic value is equal to the option premium.
Which ONE of the following combinations (true/false) concerning the above statements is correct?
A) Statement 1 = True, Statement 2 = False
B) Statement 1 = False, Statement 2 = False
C) Statement 1 = True, Statement 2 = True
D) Statement 1 = False, Statement 2 = True
2. Vixen plc has warrants in issue that can be used to subscribe for ordinary shares in the company on a one-for-one basis in six months' time at an exercise price of $4.50. The warrants are currently quoted at $1.20 and the current share price is $5.40.
What are the warrant conversion premium and the intrinsic value of the warrant?
Conversion premiumIntrinsic value
A) $0*30$0*90
B) $1*20$1*50
C) $1*20$0*90
D) $0*30$1*50
3. The shares of Derwent Co and Plym Co have beta values of 0*5 and 1*2 respectively.
The expected rate of return for Derwent Co investors is 9% and the expected return to the market is 12%.
Using the Capital Asset Pricing Model, what is the expected rate of return for investors in Plym Co?
A) 10*8%
B) 7*2%
C) 13*2%
D) 21*6%
4. Gobi Co has irredeemable 4% loan notes in issue with a nominal value of $20m. The current market value of the loan notes is $10 million and the tax rate is 25%. The equity shares of Gobi Co have a total marketcapitalizationof $30 million. The company's weighted average cost of capital is 10%.
What is the cost of equity for Gobi Co?
A) 10.7%
B) 12.3%
C) 12.5%
D) 11.3%
5. A UK based company is due to receive US$6,000,000 in three months from its American customer. It wants to hedge this receipt and has found an appropriate futures market based in the USA, where the value of one futures contract is EUR62,500. The current futures price is US$1.7778 per UK sterling.
How many contracts would the company buy or sell in order to hedge the exposure?
A) Buy 96 futures contracts
B) Sell 96 futures contracts
C) Buy 54 futures contracts
D) Sell 54 futures contracts
질문과 대답:
| 질문 # 1 정답: B | 질문 # 2 정답: A | 질문 # 3 정답: C | 질문 # 4 정답: D | 질문 # 5 정답: C |
985 개 고객 리뷰
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