高级财务管理试卷

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1、上海商学院2017〜2018学年第一学期《高级财务管理（全英）》期末考试试卷总课时：36A卷（闭卷）适用年级：2014级本科适用专业：会计学考试时间：90分钟班级：姓名：学号:题号二三四总分得分阅卷人复核人I・SingleChoice(Total20points,2pointsofeachone)1.Systematicriskisdefinedas:()A.ariskthatspecificallyaffectsanassetorsmallgroupofassets.B.anyriskthataffectsalargenumber

2、ofassets.C.anyriskthathasahugeimpactonthereturnofasecurity.D.therandomcomponentofreturn.2.Theopportunitysetofportfoliosis:()A.allpossiblereturncombinationsofthosesecurities.B.allpossibleriskcombinationsofthosesecurities.C.allpossiblerisk-returncombinationsofthosesecuri

3、ties.D.thebestorhighestrisk-returncombination.3.Shareholdersdiscountmanycorporateannouncementsbecauseoftheirpriorexpectations.Ifanannouncementcausesthepricetochangeitwillmostlybedrivenby:()A.theexpectedpartoftheannouncement.B.marketinefficiency.C.theunexpectedpartofthe

4、announcement.D.thesystematicrisk.4.Iftheexpectedrateofinflationwas3%andtheactualratewas6.2%;thesystematicresponsecoefficientfrominflation,[31,wouldresultinachangeinanysecurityreturnofPL()A.9.2B.3.2C.32D.3.01.Comparingtwootherwiseequalfirms,thebetaofthecommonstockofalev

5、eredfirmisA・equaltoC.slightlylessthanthebetaofthecommonstockofanunleveredfirm.()B.significantlylessD・greater2.Ananalysisofwhathappenstotheestimateofthenetpresentvaluewhenyouexamineanumberofdifferentlikelysituationsiscalledanalysis.()B.scenarioD.simulationA.forecastingC

6、-sensitivity3.Theinvestmenttimingdecisionrelatesto:()A.howlongthecashflowslastonceaprojectisimplemented.B・thedecisionastowhenaprojectshouldbestarted.C.howfrequentlythecashflowsofaprojectoccur.D・howfrequentlytheinterestonthedebtincurredtofinanceaprojectiscompounded.4.Th

7、eappropriatediscountrateforvaluingafinancialleaseis:()A.thefirmfsafter-taxweightedaveragecostofcapital.B.theafter-taxrequiredreturnonassetsofriskssimilartotheleasedasset.C-theafter-taxcostofsecuredborrowing.D.EitherAorB.5.Ifthelessorborrowsmuchofthepurchasepriceofaleas

8、edasset,theleaseiscalled:()A.aleveragedlease.B.asale-and-leaseback.C.acapitallease.D.anonrecourselease.10・Aisaderivat