投资学investment_题库chap018

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1、Chapter18EquityValuationModelsMultipleChoiceQuestions1.________isequaltothetotalmarketvalueofthefirm'scommonstockdividedby(thereplacementcostofthefirm'sassetslessliabilities).A)BookvaluepershareB)LiquidationvaluepershareC)MarketvaluepershareD)Tobin'sQE)Noneofthe

2、above.Answer:DDifficulty:EasyRationale:Bookvaluepershareisassetsminusliabilitiesdividedbynumberofshares.Liquidationvaluepershareistheamountashareholderwouldreceiveintheeventofbankruptcy.Marketvaluepershareisthemarketpriceofthestock.2.HighP/Eratiostendtoindicatet

3、hatacompanywill_______,ceterisparibus.A)growquicklyB)growatthesamespeedastheaveragecompanyC)growslowlyD)notgrowE)noneoftheaboveAnswer:ADifficulty:EasyRationale:Investorspayforgrowth;hencethehighP/Eratioforgrowthfirms;however,theinvestorshouldbesurethatheorsheisp

4、ayingforexpected,nothistoric,growth.3._________isequalto(commonshareholders'equity/commonsharesoutstanding).A)BookvaluepershareB)LiquidationvaluepershareC)MarketvaluepershareD)Tobin'sQE)noneoftheaboveAnswer:ADifficulty:EasyRationale:Seerationalefortestbankquesti

5、on18.1otherstaffoftheCentre.Duringthewar,ZhuwastransferredbacktoJiangxi,andDirectorofthenewOfficeinJingdezhen,JiangxiCommitteeSecretary.Startingin1939servedasrecorderoftheWestNorthOrganization,SecretaryoftheSpecialCommitteeAfterthevictoryofthelongMarch,hehasbeen

6、theNorthwestOfficeoftheFederationofStateenterprisesMinister,ShenmufuguSARmissions,DirectorofNingxiaCountypartyCommitteeSecretaryandrecorderoftheCountypartyCommitteeSecretary,Ministersand43Chapter18EquityValuationModels4.________areanalystswhouseinformationconcer

7、ningcurrentandprospectiveprofitabilityofafirmstoassessthefirm'sfairmarketvalue.A)CreditanalystsB)FundamentalanalystsC)SystemsanalystsD)TechnicalanalystsE)SpecialistsAnswer:BDifficulty:EasyRationale:Fundamentalistsuseallpublicinformationinanattempttovaluestock(wh

8、ilehopingtoidentifyundervaluedsecurities).5.The_______isdefinedasthepresentvalueofallcashproceedstotheinvestorinthestock.A)dividendpayoutratioB)intrinsicvalueC)market