2014年12月acca f9考试真题

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1、word版本-精品资料FundamentalsLevel–SkillsModuleFinancialManagementFriday5December2014TimeallowedReadingandplanning:15minutesWriting:3hoursThispaperisdividedintotwosections:SectionA–ALL20questionsarecompulsoryandMUSTbeattemptedSectionB–ALLFIVEquestionsarecompulsory

2、andMUSTbeattemptedFormulaeSheet,PresentValueandAnnuityTablesareonpages11,12and13.DoNOTopenthispaperuntilinstructedbythesupervisor.Duringreadingandplanningtimeonlythequestionpapermaybeannotated.YoumustNOTwriteinyouranswerbookletuntilinstructedbythesupervisor.

3、Thisquestionpapermustnotberemovedfromtheexaminationhall.TheAssociationofCharteredCertifiedAccountants精品资料分享word版本-精品资料SectionA–ALL20questionsarecompulsoryandMUSTbeattemptedPleaseusethespaceprovidedontheinsidecoveroftheCandidateAnswerBooklettoindicateyourchos

4、enanswertoeachmultiplechoicequestion.Eachquestionisworth2marks.1TKQCohasjustpaidadividendof21centspershareanditssharepriceoneyearagowas$3·10pershare.Thetotalshareholderreturnfortheyearwas19·7%.Whatisthecurrentshareprice?ABCD$3·50$3·71$3·31$3·352Whichofthefol

5、lowingstatementsis/arecorrect?123SecuritisationistheconversionofilliquidassetsintomarketablesecuritiesThereverseyieldgapreferstoequityyieldsbeinghigherthandebtyieldsDisintermediationariseswhereborrowersdealdirectlywithlendingindividualsABCD2only1and3only2and

6、3only1,2and33Whichofthefollowingstatementsarecorrect?123MaximisingmarketshareisanexampleofafinancialobjectiveShareholderwealthmaximisationistheprimaryfinancialobjectiveforacompanylistedonastockexchangeFinancialobjectivesshouldbequantitativesothattheirachieve

7、mentcanbemeasuredABCD1and2only1and3only2and3only1,2and34Acompanywhosehomecurrencyisthedollar($)expectstoreceive500,000pesosinsixmonths’timefromacustomerinaforeigncountry.Thefollowinginterestratesandexchangeratesareavailabletothecompany:SpotrateSix-monthforwa

8、rdrate15·00pesoper$15·30pesoper$Homecountry4%peryear3%peryearForeigncountry8%peryear6%peryearBorrowinginterestrateDepositinterestrateWorkingtothenearest$100,whatisthesix-monthdollarvalueoftheexp