高级财务管理 试卷.doc

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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：题号一二三四总分得分阅卷人复核人Ⅰ.SingleChoice(Total20points,2pointsofeachone)1.Systematicriskisdefinedas:()A.ariskthatspecificallyaffectsanassetorsmallgroupofassets.B.anyriskthataffe

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

3、-returncombinationsofthosesecurities.D. thebestorhighestrisk-returncombination.3.Shareholdersdiscountmanycorporateannouncementsbecauseoftheirpriorexpectations.Ifanannouncementcausesthepricetochangeitwillmostlybedrivenby:()A. theexpectedpartoftheannounceme

4、nt.B. marketinefficiency.C. theunexpectedpartoftheannouncement.D. thesystematicrisk.4.Iftheexpectedrateofinflationwas3%andtheactualratewas6.2%;thesystematicresponsecoefficientfrominflation,bI,wouldresultinachangeinanysecurityreturnof___bI.()A. 9.2B. 3.2C.

5、 -3.2D. 3.0第4页，共4页1.Comparingtwootherwiseequalfirms,thebetaofthecommonstockofaleveredfirmis____________thanthebetaofthecommonstockofanunleveredfirm.()A. equaltoB. significantlylessC. slightlylessD. greater2.Ananalysisofwhathappenstotheestimateofthenetpres

6、entvaluewhenyouexamineanumberofdifferentlikelysituationsiscalled_____analysis.()A. forecastingB. scenarioC. sensitivityD. simulation3.Theinvestmenttimingdecisionrelatesto: ()A. howlongthecashflowslastonceaprojectisimplemented.B. thedecisionastowhenaprojec

7、tshouldbestarted.C. howfrequentlythecashflowsofaprojectoccur.D. howfrequentlytheinterestonthedebtincurredtofinanceaprojectiscompounded.4.Theappropriatediscountrateforvaluingafinancialleaseis:()A. thefirm'safter-taxweightedaveragecostofcapital.B. theafter-

8、taxrequiredreturnonassetsofriskssimilartotheleasedasset.C. theafter-taxcostofsecuredborrowing.D. EitherAorB.5.Ifthelessorborrowsmuchofthepurchasepriceofaleasedasset,theleaseiscalled:() A. aleveragedlease.B. asale-an