Quiz: TOP 45 câu trắc nghiệm Chapter 4 The value of common stocks (có đáp án) - Tiếng anh chuyên ngành | Đại học Lâm Nghiệp
Câu hỏi trắc nghiệm
The major secondary market for GE shares is: New York Stock Exchange
market capitalization = (10.3)(37.10) = $382.13 billion
The following are foreign companies that are traded on the New York Stock Exchange: I) Toyota, II) Brasil Telecom, III) Nokia, IV) Endesa, V) General Electric: I,II, III and IV only
Trading volume = 292059 * 100 = 29,205,900
The dividend yield reported as Yld. % in The Wall Street Journal quotation is calculated as follows: (dividends/close)
Previous closing = today's closing net chg. = 55.14 - 1.04 = $54.10
The exchange-traded fund (EFT) that tracks the Nasdaq 100 index is called: QQQQ
EPS = (37.22)/18.3 = 2.03; dividend payout = 1.12/2.03 = 0.55 = 55%
The following are auction markets except: Nasdaq
The following is an example of a dealer market: Nasdaq
In which of the following stock exchange specialists act as the auctioneers: New York Stock Exchange
In which of the following exchanges a computer acts as the auctioneer: I) New York Stock Exchange, II) London Stock Exchange, III) Tokyo Stock Exchange IV) Frankfurt Stock Exchange: II, III, and IV only
r = (114 + 6 - 100)/100 = 20%
The value of a common stock today depends on: The expected future dividends and the discount rate
P = (115 + 5)/1.2 = 100
P0 = (2/1.15) + [(3 + 32)/(1.15^2)] = $28.20
P0 = Div1/(r - g) = (3/(0.18 - 0.06)) = 25
I and II only
r = [(D1/P0 ) + g] = (2/20) + 0.04 = 14%
P0 = (2.83 * 1.06)/(0.16 - 0.06) = 30
The expected rate of return or the cost of equity capital is estimated as follows: Dividend yield + expected rate of growth in dividends
Dividend growth rate for a stable firm can be estimated as: Plow back rate * the return on equity (ROE)
g = (1 - 0.60) * 15 = 6%
Div6 = (2.0) * (1.20^4) * (1.06) = 4.40
D5 = (1.4) * (1.18^3) * (1.05^2) = 2.54
P = (1.25/1.18) + (1.5625/1.18^2) + (1.9531/1.18^3) + (2.0508/((1.18^3) * (0.18 - 0.05)) = 12.97
Po = [(0.5 * 1.24)/1.16] + [(0.5 * 1.24^2)/(1.16^2)] + [(0.5 * 1.24^2 * 1.08)/((1.16^2 * (0.16 - 0.08))] = $8.82
Payout ratio = 50%; Plowback ratio = 50%; g = (1 - 0.5) (4/25) = 0.08 or 8%
g = (1 - 0.6) (5/40) = .05 or 5%; r = [(3 * 1.05)/52.50] + 0.05 = 0.11 = 11%.
g = (1 - 0.5)(4/25) = 0.08 or 8%; r = [(2 * 1.08)/40] + 0.08 = 13.4%.
g = (1 - 3/5)(5/40) = .05 or 5%
The growth rate in dividends is a function of two ratios. They are: ROE and the Retention Ratio.
EPS = 50/10 = $5
EPS/Po = r[1 - (PVGO/Po)
Generally high growth stocks pay: Low or no dividends
A high proportion of the value of a growth stock comes from: PVGO (Present Value of the Growth Opportunities)
No growth value = 7.5/0.15 = 50; Po = 4/(0.15 - 0.1) = 80; PVGO = 80 - 50 = 30
EPS = (5/0.5) = $10; No Growth Value = 10/0.13 = 76.92; Growth Value = 5/(0.13 - 0.08) = 100; PVGO = 100 - 76.92 = 23.08
Which of the following stocks is (are) an income stock(s): Dow Chemicals
The following stocks are examples of income stocks except: Starbucks
Which of the following stocks is/are a growth stock(s): Starbucks
The following stocks are examples of growth stocks except: Scottish Power
EPS = DPS = 20/2 = $10 per share = Po = 10/0.1 = 100
If the project terminates, there is no horizon value.
The future value at 5 years of 100 is 133.82. The horizon value = 133.82/(.08 - .03)