45. A price-weighted series is composed of the following three common stocks: Common Stock | Number of Shares Outstanding | Price | A. | 1,000,000 | $10 | B | 5,000,000 | $20 | C | 6,000,000 | $30 |
If stock C completes a two-for-one stock split, the value of the index after the split will be closest to:
Select exactly 1 answers from the following:
A. 15. B. 20. C. 67. D. 97. 答案和详解如下！
Feedback: Correct answer: B
Investment Analysis and Portfolio Management, 7th edition, Frank K. Reilly and Keith C. Brown (Dryden, 2003), pp. 151?52 2006 Modular Level I, Vol. III, pp. 280-281 Study Session 12-53-a distinguish among the composition and characteristics of the three predominant weighting schemes used in constructing stock market series, discuss the source and direction of bias exhibited by each of the three predominant weighting schemes, and compute a price-weighted, a market-weighted, and an unweighted index series for three stocks
A price-weighted series is an arithmetic average of current prices. If a stock split occurs, the divisor is adjusted so that the index value will be the same before and after the split. In this case, the new divisor would be 2.25: ($10 + $20 + $30) / 3 = 20. ($10 + $20 + $15) / 2.25 = 20.
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发表于 2006-11-21 12:19
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