新用戶掃碼下載
掃碼下載APP
及時接收最新考試資訊及
備考信息
"Corporate Finance":Capital asset pricing model
學習是一個不斷積累的過程，每天學習一點，每天進步一點！為了幫助大家更高效地備考2021年CFA考試，正保會計網(wǎng)校每日為大家上新CFA習題供大家練習。讓網(wǎng)校與您一起高效備考2021年CFA考試，夢想成真！
Questions 1:
A firm with a marginal tax rate of 40% has a weighted average cost of capital of 7.11%. The before-tax cost of debt is 6%, and the cost of equity is 9%. The weight of equity in the firm’s capital structure is closest to:
A 、79%.
B、 65%.
C 、37%.
Questions 2:
Which method of calculating the firm’s cost of equity is most likely to incorporate the long-run return relationship between the firm’s stock and the market portfolio?
A、 Capital asset pricing model
B 、Dividend discount model
C、 Bond yield plus risk premium approach
View answer resolution
【Answer to question 1】B
【analysis】
B is correct.
A is incorrect. It is calculated by dividing 7.11 by 9.
C is incorrect. It fails to adjust debt for taxes.
【Answer to question 2】A
【analysis】
A is correct. The capital asset pricing model uses the firm’s equity beta, which is computed from a market model regression of the company’s stock returns against market returns.
B is incorrect. Dividend discount model estimates the equity risk premium by adding the dividend yield and the growth rate in dividends.
C is incorrect. Cost of equity under this method is the additional of cost of debt and risk premium (the additional yield on a company’s stock relative to its bonds).
成功=時間+方法，自制力是這個等式的保障。世上無天才，高手都是來自刻苦的練習。而人們經(jīng)常只看到“牛人”閃耀的成績，其成績背后無比寂寞的勤奮。小編相信，每天都在勤奮練習，即使是一點點的進步，大家一定可以成為人人稱贊的“牛人”。更多CFA考試資訊，點擊了解>
推薦閱讀
新用戶掃碼下載
網(wǎng)站地圖
Copyright © 2000 - yinshua168.com.cn All Rights Reserved. 北京正保會計科技有限公司 版權所有
京B2-20200959 京ICP備20012371號-7 出版物經(jīng)營許可證 
京公網(wǎng)安備 11010802044457號
