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[求助]几道Schweser Note Equity Investments的题，求帮助谢谢。
An efficient capital market:
A) fully reflects all of the information currently available about a given security, excluding risk.
B) does not fully reflect all of the information currently available about a given security, including risk.
C) fully reflects all of the information currently available about a given security, including risk.
Which of the following statements about securities exchanges is NOT correct?
A) In call markets, there is only one negotiated price set to clear the market for a given stock.
B) In continuous markets, prices are set only by the auction process.
C) Securities exchanges may be structured as call markets or continuous markets.
If the efficient markets hypothesis is true, portfolio managers should do all of the following EXCEPT:
A) Minimize transaction costs.
B) Spend more time working on security selection.
C) Work more with clients to better quantify their risk preferences.
One advantage of price/sales (P/S) multiples over price to earnings (P/E) and price‐to‐book value (PBV)
multiples is that:
A) P/S can be used for distressed firms.
B) P/S is easier to calculate.
C) Regression shows a strong relationship between stock prices and sales.
An argument against using the price to cash flow (P/CF) valuation approach is that:
A) cash flows are not as easy to manipulate or distort as EPS and book value.
B) price to cash flow ratios are not as volatile as price‐to‐earnings (P/E) multiples.
C) non‐cash revenue and net changes in working capital are ignored when using earnings per share (EPS) plus noncash
charges as an estimate.
Which of the following statements concerning security valuation is least accurate?
A) The best way to value a company with no current dividend but who is expected to pay dividends in three years
is to use the temporary supernormal growth (multistage) model.
B) A firm with a $1.50 dividend last year, a dividend payout ratio of 40%, a return on equity of 12%, and a 15%
required return is worth $18.24.
C) The best way to value a company with high and unsustainable growth that exceeds the required return is to use
the temporary supernormal growth (multistage) model.
我没有答案所以来问问大家对正确答案的意见。请各位高手帮忙解答一下，十分感谢！ |
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发表于 2013-8-19 12:48
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