86、The behavior of investors in which they put more money into a failure that they feel responsible for rather than into a success, is explained by which of the following behavioral biases? Select exactly 1 answer(s) from the following: A. Escalation bias B. Confirmation bias C. Overconfidence bias D. Fusion investing bias
87、Jim Klein, CFA, gathered the following data about India Garments Company in an effort to determine the growth rate of dividends and the payout ratio implied in the company's stock price: Stock price | $40 | Stock’s required return | 12% | Consensus estimate of next year’s dividend | $2.00 | Company’s return on equity | 10% |
The company's dividend growth rate according to the Gordon model and the payout ratio, respectively, are closest to:
| Dividend growth rate | Payout ratio | A. | 5% | 50% | B. | 5% | 58% | C. | 7% | 30% | D. | 7% | 42% |
Select exactly 1 answer(s) from the following: A. Answer A. B. Answer B. C. Answer C. D. Answer D.
88、Which of the following is the attribute that is most closely associated with the liquidity of a securities market? Select exactly 1 answer(s) from the following: A. Low transaction costs B. Timely and accurate information C. Price continuity and market depth D. Rapid adjustment of prices to new information
89、The most accurate characterization of the nature of abnormal returns relating to an anomaly and a source of unreliability of an anomaly, respectively, are:
| Nature of abnormal returns | Source of unreliability of
an anomaly | A. | Persistent | Behavioral bias | B. | Persistent | Survivorship bias | C. | Momentary | Behavioral bias | D. | Momentary | Survivorship bias |
90、Robert Wu, CFA, gathered the following data on Westminster Property Developers Inc: Earnings per share - most recent year | $2.00 | Expected growth rate of dividends | 5.10% | Dividend payout ratio | 60% | Stock's beta | 1.50 | Market risk premium | 5.60% | Risk-free rate | 4.2% | Company's weighted average cost of capital | 12% |
Wu's best estimate for the company's price per share would be closest to: Select exactly 1 answer(s) from the following: A. $16.00. B. $16.82. C. $17.39. D. $18.28.
[此贴子已经被作者于2008-11-6 11:14:44编辑过] | 
发表于 2008-11-6 10:23
| 
