Question 86 Donna Drake is interested in a stock that has expected dividends of $1.50 in one year, $1.75 in two years, and $2.05 in three years. Drake expects to sell the stock for $47.50 after three years. If Drake requires a 12% return on the stock, the price she is willing to pay today is closest to: A) $38.00. B) $34.40. C) $33.45. D) $52.30.
Question 87 Which valuation measure is most likely more difficult to interpret when inflation has been high? A) Price/book value. B) Price/earnings. C) Price/sales. D) Price/cash flow.
Question 88 After publishing a “sell” recommendation on Stardust Inc., Kelly Peterson, CFA, thoroughly reads and saves additional news articles that highlight problems at Stardust and dismisses articles that portray Stardust in a more positive light. Peterson is most likely exhibiting: A) overconfidence bias. B) escalation bias. C) confirmation bias. D) data mining bias.
Question 89 The sustainable dividend growth rate (g) is most likely estimated as the: A) dividend payout ratio × return on equity. B) retention ratio × return on equity. C) retention ratio × return on assets. D) dividend payout ratio × return on assets.
Question 90 Which of the following statements about securities markets is least accurate? A) Prices can be set in a continuous market either by dealers' bid-ask quotations or by an auction process. B) Underwriters provide issuers with origination, risk bearing, and distribution. C) Primary capital markets represent the major national markets that provide investors with liquidity and continuous price information. D) Well functioning capital markets provide information, liquidity, low transactions costs, and rapid price adjustments to new information.
[此贴子已经被作者于2008-11-7 17:24:58编辑过] | 
发表于 2008-5-10 13:23
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