2025年CFALevelIIEquityValuation历年真题卷.docxVIP

2025年CFALevelIIEquityValuation历年真题卷

考试时间：______分钟总分：______分姓名：______

Section1:MultipleChoiceQuestions

1.Acompanyisexpectedtopayadividendof$2.00nextyear(D1).Dividendsareexpectedtogrowataconstantrateof5%peryearindefinitely.Iftherequiredrateofreturnonthestockis10%,whatistheintrinsicvalueofthestockusingtheGordonGrowthModel?

a)$20.00

b)$22.00

c)$25.00

d)$30.00

2.YouarevaluingacompanyusingtheFreeCashFlowtoEquity(FCFE)model.Whichofthefollowingstatementsismostaccurate?

a)FCFEistypicallyhi