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公司理财Corporate Finance Practice Questions for the final exam.doc
Corporate Finance
Practice Questions for the Final Exam
Part A
Question 1: For a project with conventional cash flows, if Present Value Index is greater than 1, then the:
A: IRR is equal to the firm’s cost of capital
B: IRR is equal to the firm’s required rate of return
C: NPV is greater than zero
D: Accounting rate of return exceeds the IRR
E: NPV is negative
Question 2: A invests in a property that pays him 14% annually. If A invests $325, calculate As simple interest component at the end of 24 months?
A: $119
B: $109
C: $91
D: $90
E: $93
Question 3: All other things being equal, the lower the coupon rate:
A: the longer the time to maturity
B: the higher the price
C: the lower the price
D: the greater the interest rate risk
E: none of the above
Question 4: Calculate the NPV if the outflow is $50 000 and the inflows are:
Year 1 $10 000
Year 2 $20 000
Year 3 $50 000
Year 4 -$5 000
The appropriate discount rate is 18%.
A: $961
B: $691
C: $1 961
D: $1 691
E: $1 196
Question 5: The current value of future cash flows discounted at the discount rate is:
A: future value
B: future value interest factor
C: present value interest factor
D: compounding value
E: present value
Question 6: There is an inverse relationship between interest rates and:
A: coupon
B: bond prices
C: term to maturity
D: face value
E: both A and D
Question 8: Assume that a project generates cash flows of $2 000 in years 1 and 2,
$4 000 in the next two years, and $5 000 in the last year. The initial investment is
$10 000. The discount rate is 10%. What is the NPV?
A: $12 313
B: $10 000
C: $ 2 313
D: $ 2 133
E: $22 313
Question 9: You are interested in buying a property that will cost you $10 million. You have $2.3 million. If you earn interest at the rate of 5% per year, how long will you have to wait before you buy this property?
A: 30.21 years
B: 30.10 years
C: 30.12 years
D: 30.00 years
E: 29.12 years
Question 11: A Limited has just paid a dividend of $0.30 per share. The dividend grows at a stea
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