金融市场公开课中文版

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1、FoundationsofFinancialMarketsandInstitutions,4e(Fabozzi/Modigliani/Jones)Chapter17MarketsforCommonStock:TheBasicCharacteristicsMultipleChoiceQuestions1CommonStockCharacteristics1)Equitysecuritiesrepresent________interestinacorporation.Holdersofequitysecuritiesareentit

2、ledtotheearningsofthecorporationwhenthoseearningsaredistributedintheformof________.Thekeydistinctionbetweencommonstockandpreferredstockliesinthedegreetowhichtheymayparticipateinanydistributionofearningsandtheprioritygiventoeachinthe________.A)anownership;dividends;ret

3、ainmentofearningsB)anownership;interest;distributionofearningsC)anownership;dividends;distributionofearningsD)apotential;interest;retainmentofearningsAnswer:CComment:Equitysecuritiesrepresentanownershipinterestinacorporation.Holdersofequitysecuritiesareentitledtotheea

4、rningsofthecorporationwhenthoseearningsaredistributedintheformofdividends.Theyarealsoentitledtoaproratashareoftheremainingequityincaseofliquidation.Thetwotypesofequitysecuritiesarecommonstockandpreferredstock.Thekeydistinctionbetweenthesetwoformsofequitysecuritieslies

5、inthedegreetowhichtheymayparticipateinanydistributionofearningsandtheprioritygiventoeachinthedistributionofearnings.Diff:2Topic:17.1CommonStockCharacteristicsObjective:17.9theimplicationsofpricingefficiencyforacommonstockstrategy2)Forcommonstockinvestors,thereturnreal

6、izedbyholdingthisinvestmentcomesfrom________.A)dividendpaymentsB)decreaseinthepriceofthecommonstockC)decreaseinthepriceofthecommonstockD)AlloftheseAnswer:DComment:Forcommonstockinvestors,thereturnrealizedbyholdingthisinvestmentcomesfromtwosources:dividendpaymentsandth

7、echangeinthepriceofthecommonstock.Thechangecanbeeitheradecreaseorincrease.Diff:2Topic:17.1CommonStockCharacteristicsObjective:17.8evidenceonthepricingefficiencyofthestockmarket3)WhichofthebelowstatementsisTRUE?A)Dividends(whicharetypicallyintheformofstock)arearedistri

8、butionsmadebyacorporationtoitsownersthatrepresentareturnontheirinvestment.B)Dividendspaidtocommonstockholdersarenotlegalobli