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标题: [CFA模拟真题] 2006 CFA Level I －NO105 [打印本页]

作者: cfaedu 时间: 2006-11-22 11:06 标题: [CFA模拟真题] 每天一练：2006 CFA Level I －NO105

45．An analyst gathered the following information about a stock market index:

Required rate of return	16%
Expected dividend payout ratio	30%
Expected return on equity investment	20%

The expected price/earnings (P/E) ratio of the index is closest to:

Select exactly 1 answers from the following:

A. 3.5. B. 7.0. C. 15.0. D. 35.0.
答案和详解如下！
Feedback: Correct answer: C

Investment Analysis and Portfolio Management, 7th edition, Frank K. Reilly and Keith C. Brown (Dryden, 2003), pp. 437?43

2006 Modular Level I, Vol. III, pp. 386-392

Study Session 13-56-a

calculate the earnings per share (EPS) of a stock market series and the expected P/E ratio (earnings multiplier) of a stock market series, using the series?expected dividend payout ratio, required rate of return, and expected growth rate of dividends

The price/earnings ratio is equal to the expected dividend payout ratio divided by the difference between the required rate of return and the expected growth rate of dividends, where the expected growth rate of dividends is equal to the retention rate times the expected return on equity:

0.30 / (0.16 ?0.14) = 15.00.

作者: gchh 时间: 2006-11-22 12:45

c

作者: zxue2 时间: 2006-11-23 06:29

C

作者: kristinejb 时间: 2006-11-24 23:41

3

作者: zyx8318 时间: 2006-12-1 21:49

[em03]

作者: pippi 时间: 2007-2-7 19:33

[em01]

作者: deanwj 时间: 2007-5-6 16:27

c

作者: vivian1022 时间: 2007-5-7 03:39

kan

作者: shan 时间: 2007-5-7 23:33

good

作者: kimbol 时间: 2007-5-8 19:16

xx

作者: alexpeter 时间: 2007-5-9 15:25

ok

作者: zyuanqian 时间: 2007-5-13 23:27

b

作者: Jeggian 时间: 2007-5-15 14:31

c

作者: liaoyunhe 时间: 2007-5-15 18:00

c

作者: lemonlily 时间: 2007-5-16 13:34

I cannot make it

作者: robodog 时间: 2007-5-24 04:07

re

作者: x-stephon 时间: 2007-5-28 20:22

作者: solo123 时间: 2007-5-28 22:51

c

作者: 036251 时间: 2007-5-29 01:22

c

作者: oracle0944 时间: 2007-5-29 17:27

c

作者: chengnan10 时间: 2007-5-31 23:10

c

作者: sophiajwli 时间: 2007-6-2 15:09

c

作者: waleyxue 时间: 2007-8-8 14:53

a

作者: waleyxue 时间: 2007-8-8 14:54

a

作者: xfh1978 时间: 2007-9-5 15:18

作者: seraph 时间: 2007-9-5 15:31

dont know

作者: 路西菲尔 时间: 2007-9-28 12:56

[em02]

作者: hollow 时间: 2007-10-25 10:22

谢谢

作者: technet 时间: 2007-10-25 12:56

c

作者: adslmsn 时间: 2007-10-25 15:58

thx

作者: denker5781 时间: 2007-10-25 16:42

heh

作者: lonski 时间: 2007-11-20 15:53

re

作者: BeyondCFA 时间: 2007-11-23 10:30

c

作者: pwmho 时间: 2008-1-5 21:43

TY

作者: fionzheng 时间: 2008-4-16 11:08

d

作者: coolguy889 时间: 2008-5-18 15:40

c[em01]

作者: robinlu 时间: 2008-5-19 18:44

ha

作者: adon 时间: 2008-5-20 09:57

[em01]

作者: elliderek 时间: 2008-9-9 10:17

3

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