公司理财 习题库 chap015

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1、CHAPTER15CHAPTER15CostofCapitalI.DEFINITIONSCOSTOFCAPITALa1.Theopportunitycostassociatedwiththefirm’scapitalinvestmentinaprojectiscalledits:a.costofcapital.b.betacoefficient.c.capitalgainsyield.d.sunkcost.e.internalrateofreturn.COSTOFEQUITYb2.Thereturnthatshareholdersrequireonthei

2、rinvestmentinthefirmiscalledthe:a.dividendyield.b.costofequity.c.capitalgainsyield.d.costofcapital.e.incomereturn.COSTOFDEBTc3.Thereturnthatlendersrequireontheirloanedfundstothefirmiscalledthe:a.couponrate.b.currentyield.c.costofdebt.d.capitalgainsyield.e.costofcapital.CAPITALSTRU

3、CTUREWEIGHTSd4.Theproportionsofthemarketvalueofthefirm’sassetsfinancedviadebt,commonstock,andpreferredstockarecalledthefirm’s:a.financingcosts.b.portfolioweights.c.betacoefficients.d.capitalstructureweights.e.costsofcapital.WACCe5.Theweightedaverageofthefirm’scostsofequity,preferr

4、edstock,andaftertaxdebtisthe:a.rewardtoriskratioforthefirm.b.expectedcapitalgainsyieldforthestock.c.expectedcapitalgainsyieldforthefirm.d.portfoliobetaforthefirm.e.weightedaveragecostofcapital(WACC).DIVISIONALCOSTOFCAPITALa6.Forafirmwithmultiplebusinessunits,thecostofcapitaldevelo

5、pedforeachunitisCHAPTER15calleda:a.divisionalcostofcapital.b.pureplayapproach.c.subjectiveriskadjustment.d.stratifiedbetacoefficient.e.fundamentalbetacoefficient.PUREPLAYAPPROACHb7.WhenfirmsdevelopaWACCforindividualprojectsbasedonthecostofcapitalforotherfirmsinsimilarlinesofbusine

6、ssastheproject,thefirmisutilizinga_____approach.a.subjectiveriskb.pureplayc.divisionalcostofcapitald.capitaladjustmente.securitymarketlineFLOTATIONCOSTSc8.Thecostsincurredbythefirmwhennewissuesofstocksorbondsaresoldarecalled:a.requiredratesofreturn.b.costsofcapital.c.flotationcost

7、s.d.capitalstructureweights.e.costsofequityanddebt.II.CONCEPTSCOSTOFCAPITALe9.Thecostofcapital:a.willdecreaseastherisklevelofafirmincreases.b.isprimarilydependentonthesourceofthefundsusedinaproject.c.impliesthataprojectwillproduceapositivenetpresentvalueonlywhentherateofreturnonth

8、eprojectislessthanthecostofcapita