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lOMoAR cPSD| 61159950
Câu 1: Which one of the following is least likely to be an agency problem?
1. Increasing the size of a firm
2. Concentrating on maximizing current profits
3. Closing a division with net losses
4. Increasing the market value of the firm's share
5. Obtaining a patent for a new product
Câu 2: Which of the following accounts are included in working capital management? I, Accounts payable II, Account receivable III, Fixed assets IV, Inventory 1. I and II only 2. I and III only 3. II and IV only 4. I, II and IV only
5. II, III and IV only
Câu 3: Short-term cashflow improvement may not be achieved by
1. Increasing trade payables
2. Reducing trade payables
3. Reducing inventories
4. Reducing trade receivables
Câu 4: The agency problem will occur in a business if the goal of _______ is not line with_______? 1. Employees, managers
2. Managers, shareholders
3. Managers, governments
4. Shareholders, the public Câu 5: A stakeholder is:
1. A person who owns shares of stock
2. Any person who has voting rights based on stock ownership of a corporation
3. A person who initially founded a firm and currently has management control over that firm
4. Any person or entity other than a stockholder who potentially has a claim on the cashflow of a firm
Câu 6: Which of the following questions are addressed by financial manager?
I, How should a product be marketed
II, Should customers be given 30 or 45 days to pay for their credit purchase
III, Should the firm borrow less money
IV, Who should be recruited for the sales department
V, Should the firm acquire new equipment 1. I and IV only 2. II and III only
3. II, III and V only lOMoAR cPSD| 61159950 4. II and V only 5. All of above
Câu 7: Which one of the following is a capital budgeting decision?
1. Determining how many shares of stock to issue
2. Deciding whether or not to purchase a new machine for the production line
3. Deciding how to refinance a debt issue that is maturing
4. Determining how much inventory to keep on hand
5. Determining how much money should be kept in the checking account
Câu 8: Which one of the following statements concerning a sole proprietorship is correct?
1. A sole proprietorship is designed to protect the personal assets of owner
2. The owner of a sole proprietorship is personally responsible for all of the company's debts
3. The profits of a sole proprietorship are subject to double taxation
4. A sole proprietorship is structured the same as a limited liability company Câu 9:
Which statement of the following is incorrect?
I, Dividend policy is related to the distribution of profit before tax
II, A firm can choose between debt and equity to raise money
III, Working capital management is related to long-term investment in fixed assets
IV, A new share issue is carried out on the primary market
V, A firm needs to evaluate customer creditworthiness before granting them credit sale 1. I and III only 2. I and IV only 3. I,II and III only 4. II and IV only
Câu 10: Which one of the following forms of business organization is best suited
to raising large amounts of capital 1. Sole proprietorship
2. Limited liability company 3. Corporation
4. General partnership
Câu 11: Which one of the following best states the primary goal of financial management?
1. Maximize current dividends per share
2. Maximize the current value per share
3. Increase cash flow and avoid financial statement
4. Minimize operational cost while maximizing firm efficiency
5. Maintain steady growth while increasing current profit
Câu 12: Which of the following best describes the function of financial market?
I, Bridge capital supply and demand
II, Transfer risks among market participants
III, Set up legal requirements for establishing companies
IV, Provide different payment methods lOMoAR cPSD| 61159950
V. Sell and buy financial assets 1. I and II only 2. I, II and V only 3. I, III and IV only
4. I, II and IV only
Câu 13: Which one of the following is a primary market transaction?
1. Sale of existing outstanding stock by a lender to an individual investor
2. Sale of a new share of stock to an individual investor
3. Stock ownership is transferred from one shareholder to another shareholder
4. Gift of stock from one shareholder to another shareholder
5. Gift of stock by a shareholder to a family member
Câu 14: Which one of the following financial decisions immediately changes the
firm's average cost of capital?
1. Invest in a new potential project 2. Employ more debt
3. Store more finished products
4. Increase dividend pay-out ratio
Câu 15: A business created as a distinct legal entity and treated as a legal "person" is called a: 1. Corporation 2. Sole proprietorship 3. Partnership
4. Unlimited liability company
Câu 16: What are the main applications of the timeline in solving the time value of money?
1. It informs when inflows happen
2. It informs the discount rate of the cashflow
3. It informs whether or not a cash flow is an inflow or an outflow
4. It informs when a cash flow happens and the characteristic of a cash flow, inflow or outflow
Câu 17: Which of the following cash flows is an ordinary annuity?
I, The renting payment of VND 10 millions at the end of each year in 5 years
II, The earnings from an investment with VND 100 millions at the end of the first 2
years and VND 150 millions per year for the next 3 years
III, Firm X continuously pays VND 5,000 per share with the annual rate of growth at 5%
IV, You put VND 10 millions at the beginning of each year in 10 years 1. I and II 2. Only I 3. II and IV 4. All exclude IV
Câu 18: If you want to know how much money you have to invest in assets today
to get a particular amount of money after 10 years, you have to use: lOMoAR cPSD| 61159950
1. The future value of a single cash flow
2. The future value of perpetuity
3. The future value of annuity
4. The present value of a single cash flow Câu 19
To calculate the future value of cash flows, we need information on which components:
1. The amount of money and the discount rate
2. The discount rate and when the money occurs
3. The amount of money, the discount rate, and when the money occurs
4. The amount of money and the date of money Câu 20
When the discount rate increases and other factors are kept unchanged, the
present value (PV) of the perpetuity with equal payments at the end of each period will:
1. No change since payments last forever
2. Decrease since PV positively correlates with the discount rate
3. Increase since PV negatively correlates with the discount rate
4. Decrease since PV negatively correlates with the discount rate Câu 21
For a specific initial amount of investment, at a particular interest rate, when the
compounding period becomes shorter, the future value of this money after a specific period becomes: 1. Smaller 2. No change 3. Larger
4. Either smaller or larger Câu 22
At a specific economic scenario, compound calculation can bring larger future
value to investors than simple calculation because:
1. The simple calculation ignores interest payment
2. The compound calculation composes the interest payments of the previous period in
the principal of current period
3. The compound calculation has higher discount rate than the simple calculation
4. The simple calculation adds the interest payments of the previous period in the
principal of current period
Câu 23 If you have information on the present value of an ordinary annuity
(assume A), how can you calculate the present value of the annuity due at the discount rate r? 1. Multiple A by r 2. Divide A by r 3. Multiple A by (1+r)
4. Multiple A by r/(1+r) lOMoAR cPSD| 61159950
Câu 24 Firm X offers a quarterly dividend of VND 2,000 continuously with the
rate of growth at 10%. To evaluate the current price of the company X's offer, you should apply:
1. The formula for the present value of an ordinary annuity
2. The formula for the future value of perpetuity
3. The formula for the present value of a due annuity
4. The formula for the present value of a growing perpetuity
Câu 25 What is the main difference between annuity due and original annuity? 1. The discount rate
2. The periodic payments
3. The length of payment period
4. The date of the first payment
Câu 26 The present value of the annuity due with equal payments is different
from the PV of the ordinary annuity with equal payments by: 1. (1+r)/r 2. 1/(1+r) 3. (r+1) 4. r/(1+r)
Câu 27 The stated annual rate becomes the effective annual rate considering:
1. The inflation of an economy
2. The expected return of the investors
3. The compounding period
4. The date of investment
Câu 28 The difference in the future value of VND 100 million today at the rate of
12% after 10 years when using the compound and simple interest calculation is: 1. VND 120 millions
2. VND 332.769 millions
3. VND 212.769 millions
4. VND 90. 584 millions
Câu 29: The future value of VND 100m today at the rate of 12% after 10 years in
the following with calculation is: 1. VND 112 millions 2. VND 220 millions 3. VND 833 millions
4. VND 310.58 millions
Câu 30: Mr.X puts money in two investment opportunities. The first investment
brings VND 1 million at the end of each year in 5 years. The second opportunity
provides him with VND 2 million at the end of each year in the first 3 years and VND 3
million in 2 years later. If the interest rate is kept constant at 10% per year, how much
money will Mr.X receive after 5 years 1. VND 18.315 millions 2. VND 24.420 millions 3. VND 14.940 millions 4. VND 20.415 millions lOMoAR cPSD| 61159950
Câu 31: Mr.X is considering buying a new house. He expects to own this house in
10 years and sell at the end of the year 10 with the price of VND 1.5 billion. If the
discount rate is kept stable at 12%, how much money Mr.X is willingness to pay today to buy this house? 1. VND 1,017.040 million 2. VND 482.960 million 3. VND 1,500 million
4. VND 2,300 million
Câu 32 Firm X intends to pay VND 3,500 per share next year and continually
pays its dividend at the constant growth rate of 7%. Firm Y plans to keep its dividend
constantly growth at the rate of 5%. Assuming the discount rate at 12%, if the share
price of firm Y is equal to firm X, how much is the dividend of firm Y next year? 1. VND 8,400 2. VND 4,900 3. VND 10,000 4. VND 3,500
Câu 33 How much money you have to invest today to get an ordinary annuity
with VND 3 million in the first six years and VND 5 million in the next four years if the discount rate is 12%? 1. VND 38.308 million 2. VND 13.028 million 3. VND 20.028 million 4. VND 13.334
Câu 34 How much of money Mr.X has to deposit in the bank today if he wants to
get VND 300 million after 5 years. Assume that the stated annual rate at 10%, compounding yearly. 1. VND 186.280 million
2. VND 300 million 3. VND 450 million 4. VND 330 million
Câu 35 If today you put VND 10 million in a savings account in a bank at the
stated annual interest rate of 12%. How much interest payment will you receive after 5
years when the bank pays semi-annually. 1. VND 1.338 million 2. VND 17.623 million 3. VND 7.910 million
4. VND 1.698 million
Câu 36 Today you deposit VND 100 million in the bank and expect to receive
VND 112 million next year. If the inflation is expected at the rate of 5% for the coming
year, what is the real interest rate of this investment? 1. 12.00% 2. 5.00% 3. 6.67% 4. 19.00%
Câu 37 Firm X intends to pay VND 3,000 per share next year and continuously
pay its dividend at the constant growth rate of 6% per year. Firm Y pays VND 4,500 per lOMoAR cPSD| 61159950
share next year. Firm Y's dividend will constantly grow at the rate of 3% per year.
Assuming the discount rate at 12%, what is the difference in today-price of Firm X and Firm Y's share?
1. The share price of firm X is VND 100,000 less than the share price of firm Y
2. The share price of firm X is equal to the share price of firm Y
3. The share price of firm Y is VND 12,500 higher than the share price of firm Y
4. The share price of firm X is VND 25,000 less than the share price of firm Y
Câu 38 Firm X intends to pay VND 3,000 per share next year. If firm X
continously pays its dividend with the constant rate of growth 5%, assuming the
discount rate at 12%, what is today price of Firm X's share? 1. VND 60,000 2. VND 25,000 3. VND 17,647 4. VND 42,860
Câu 39 Which of the following events leads to the systematic risk?
1. The company loses 10 containers of clothes
2. The Government releases information on increasing national debt
3. The oil prices decline due to the surplus supply in the world market
4. The firm informs an increase in sale of the next quarter
Câu 40 The beta of stock A is 1.5. Which of the following statements is true when
interpreting the beta of the stock A:
1. The standard deviation of the return of stock A is 1.5
2. The expected return on the stock A is equal to the expected return on the market
3. The returns of the stock A are magnified 1.5 times over those of the market
4. The expected return of the stock A is 1.5 higher than the expected return of the market
Câu 41 The contribution of an individual security to the variance of the portfolio is best measured by:
1. The expected return on a security
2. The variance of a security
3. The covariance of a security with the market portfolio
4. The beta coefficient
Câu 42 Which of the following statement is true when talking about the security with beta=0:
1. The expected return on a security is equal to the expected return on the market
2. The variance of a security is zero
3. The covariance of a security with the market portfolio is 1
4. The expected return on this security is equal to the risk-free rate
Câu 43 Which of the following statements is true when talking about two
securities (X and Y) with correlation between returns equal 1?
1. They are perfectly negative correlates
2. Both the return on security X and the return on security Y are higher than the average at the same time
3. The covariance of two securities is 1 lOMoAR cPSD| 61159950
4. The return on security X is higher than the average while return on security Y is lowerthan the average
Câu 44 Stock which has higher correlation with market tend to have 1. High beta, less risky
2. Low beta, more risky
3. High beta, more risky
4. Low beta, less risky
Câu 45 In asset portfolio, the number of stocks increases to: 1. Reduce return
2. Reduce average return 3. Reduce risk 4. Increase prices
Câu 46 Standard deviation of a particular stock is divided by the expected rate of
return is used to calculate:
1. Coefficient of variation
2. Coefficient of deviation
3. Coefficient of expected return
4. Coefficient of average return
Câu 47 Risk per unit of return or stand-alone risk is represented by 1. Coefficient of standard
2. Coefficient of return
3. Coefficient of variation
4. Coefficient of deviation
Câu 48 Greater chance of lower actual return than expected return and greater
variation is indicated by:
1. Smaller standard deviation
2. Larger standard deviation 3. Smaller variance 4. Larger variance
Câu 49: Chance of occurence of any event is classified as: 1. Probability 2. Risk 3. Chance 4. Event happening
Câu 50: Type of premium asked by investors for bearing risk on average stock is classified as: 1. Average return 2. Market risk premium 3. Stock premium 4. Buying discount
Câu 51: Method and model used to analyze the relationship between rate of
return and risk is classified as:
1. Capital asset pricing model lOMoAR cPSD| 61159950
2. Portfolio asset pricing model
3. Asset market pricing model
4. Portfolio pricing model
Câu 52: Portfolio, which consist of perfectly positive correlated assets have no effect of: 1. Negativity 2. Positivity 3. Correlation 4. Diversification
Câu 53: In capital asset pricing model, assumptions must be followed including: 1. No taxes
2. No transaction costs
3. Fixed quantities of assets
4. All of the above
Câu 54: Standard deviation is 18% and coefficient of variation is 1.5, an expected rare of return will be 1. 27.00% 2. 12.00% 3. 19.50% 4. None of above
Câu 55: Market risk premium is 8% and risk-free return is 7% then market
required return would be: 1. 15.00% 2. 1.00% 3. $56 4. 1.14%
Câu 56: Required return is 11% and premium is for risk is 8% then risk free return will be: 1. 3.00% 2. 19.00% 3. 0.72% 4. 1.38%
Câu 57: An amount invested is VND 1,500 and an amount received is VND 2,000
million then the dollar return would be: 1. VND 500 million 2. -VND 500 million 3. VND 3500 million
4. -VND 3500 million
Câu 58: Yield on bond is 7% and market required return is 14% then market risk premium would be: 1. 2.00% 2. 21.00% 3. 0.5 lOMoAR cPSD| 61159950 4. 7.00%
Câu 59: Suppose a stock had an ending share price of VND 25,000, paid a
dividend of VND 1,000 per share and had an initial price of VND 22,000, the percentage of total return is: 1. 16.00% 2. 4.00% 3. 12.00% 4. 18.18%
Câu 60: You own a stock portfolio invested 30% in stock A, 20% in stock B, 10%
in stock C and 40% in stock D. The beta of these 4 stocks are 1.2, 0.6, 1.5 and 0.8
respectively, the portfolio beta is: 1. 0.95 2. 0.59 3. 0.83 4. 0.92
Câu 61: Suppose the risk free rate is 8%, the expected return on the market is
16%. If a particular stock has beta of 0.7, its expected return is: 1. 8.00% 2. 13.60% 3. 12.60% 4. 5.60%
Câu 62: A stock has an expected return of 13%, the risk free rate is 7% and the
market rish premium is 8%, the beta of this stock is: 1. 6.00% 2. 2.00 3. 0.75 4. 0.75%
Câu 63: A stock has an expected return of 17%, its beta is 5 and the risk free rate
is 7%. What must be the expected return on the market? 1. 2.00% 2. 9.00% 3. 10.00% 4. 12.00%
Câu 64: A stock has an expected return of 22%, its beta is 1.6, and expected
return on the market is 16%, the risk free rate must be: 1. 8.00% 2. 6.00% 3. 3.60% 4. 10.00%
Câu 65: Given the following information, use the coefficient of variation to
determine which asset is most risky Asset X: -Expected return: 10% -Standard deviation: 14% Asset Y: lOMoAR cPSD| 61159950 -Expected return: 8% - Standard deviation: 12% Asset Z: -Expected return: 16%
-Standard deviation: 20% 1. Asset X 2. Asset Y 3. Asset Z
4. Not enough information given
Câu 66: Given the following probability distribution, what is the expected return?
Probability and Outcome respectively: 0.2 10% 0.3 12% 0.4 14% 0.1 18% 1. 13.5% 2. 13.8% 3. 14% 4. None of above
Câu 67: A firm with a beta value of ______ has a required rate of return of
15.5% if the risk free rate is 8% and the market risk premium is 5%.
1. 1 ........................................................................................................................................ 3
2. -2 ....................................................................................................................................... 5
3. 2 ........................................................................................................................................ 5 4. 1.2
Câu 68: A firm with a beta value of 1.5 has a required rate of return of _______ if
the risk free rate is 10% and the market rate of return is 15%. 1. 10% 2. 15% 3. 17.5% 4. 22.5%
Câu 69: Which of the following is not a current asset? 1. Inventory 2. Prepaid expense 3. Fixtures
Câu 70: Current assets MINUS current liabilities is the 1. Current ratio 2. Net worth
3. Net working capital
Câu 71: Current assets DIVIDED BY current liabilities is the 1. Current ratio 2. Quick ratio lOMoAR cPSD| 61159950
3. Working capital ratio
Câu 72: The quick ratio EXCLUDES which of the following? 1. Accounts Receivable 2. Inventory 3. Cash
Câu 73: Gross margin is added to cost of goods sold to calculate 1. Revenue 2. Selling price 3. Unit price 4. Bundle price
Câu 74: ________ a snapshot of the financial condition of the firm at a particular time
1. The balance sheet provides
2. The income statement provides
3. The statement of cashflow provides
4. All of the above provide
5. None of the above provides
Câu 75: If the interest rate on debt is higher than BEP, then a firm will
__________ by increasing the use of debt in the capital expenditure 1. increase the ROE 2. not change in ROE 3. decrease in ROE
4. change the ROE in an indeterminable manner
5. none of the above
Câu 76: A measure of asset utilization is _________
1. sale divided by working capital
2. return on total asset
3. return on equity capital
4. operating profit divided by sales
5. none of the above
Câu 77: Return on total asset is a function of___________
1. interest rates and pre-tax profits
2. the debt-equity ratio
3. the after tax profit margin and the asset turnover ratio
4. sales and fixed assets
5. none of the above
Câu 78: Which of the financial statements recognizes only transactions in which cash changes hands? 1. Balance sheet 2. Income statement
3. Statement of cash Flows 4. A and B 5. A, B and C lOMoAR cPSD| 61159950
Câu 79: Common size financial statements make it easier to compare firms ________ 1. of different sizes
2. in different industries
3. with different degree of leverage
4. that use different inventory valuation methods (FIFO vs LIFO)
5. none of the above
Câu 80:__________ is a measure of what firm would have earned if it didn't have
any obligations to creditors or tax authorities 1. Net sales 2. Operating income 3. Net income
4. Non-operating income
5. Earnings Before Interest and Taxes
Câu 81: A firm has a higher quick (or acid test) ratio than the industry average, which implies
1. The firm has a higher P/E ratio than other firms in the industry
2. The firm is more likely to avoid insolvency in short run than other firms in the industry
3. The firm may be less profitable than other firms in the industry 4. A and B 5. B and C
Câu 82: A firm has a higher asset turnover ratio than the industry average, which impllies
1. The firm has a higher P/E ratio than other firms in the industry
2. The firm is more likely to avoid insolvency in the short run than other firm in the industry
3. The firm is more profitable than other firms in the industry
4. The firm is utilizing assets more efficiently than other firms in the insustry
5. The firm has higher spending on new fixed assets than other firms in the industry
Câu 83:A firm's current ratio is above the industry average; however, the firm's
quick ratio is below the industry average.
These ratios suggest that the firm _______
1. is very efficient at managing inventory
2. has current liquidity that is better to average firm in the industry
3. is near technical insolvency
4. none of the above
Câu 84: If the cost of goods sold is VND 8,000 millions, gross profit is VND 5,000
million then revenue will be 1. VND 13,000 million 2. -VND 13,000 million 3. VND 3,000 million
4. -VND 3,000 million lOMoAR cPSD| 61159950
Câu 85: A firm has a P/E ratio of 12 and a ROE of 13% and a market to book value of ________. 1. 0.64 2. 0.92 3. 1.08 4. 1.56
5. none of the above
Câu 86: A firm has a (net profit/pre-tax profit ratio) of 0.625, a debt-equity ratio
is 1.2, a (pre-tax profit/EBIT) of 0.9, an ROE of 17.82%, a current ratio of 8, and a
return on sales ratio of 8%. The firm's asset turnover is _______. 1. 0.3 2. 1.3 3. 2.3 4. 3.3
5. none of the above
Câu 87: Firm A has a Return on Equity (ROE) equal to 24%, while firm B has an
ROE of 15% during the same year. Both firms have a total debt ratio equal to 0.8. Firm
A has an asset turnover ratio of 0.9, while firm B has an asset turnover ratio equal to
0.4. From this we know that
1. Firm A has a higher profit margin than firm B
2. Firm B has a higher profit margin than firm A
3. Firm A and B have the same profit margin
4. Firm A has a higher equity multiplier than firm B
5. You need more information to say anything about the firm's profit margin
Câu 88: If a firm has VND 100 billion in inventories, a current ratio equal to 1.2
and a quick ratio equal to 1.1. What is the firm's Net Working Capital? 1. VND 0 billion 2. VND 100 billion 3. VND 200 billion 4. VND 1000 billion
5. VND 1200 billion
Câu 89: Felton Farm Supplies, Inc has an 8% return on total assets of VND
300,000 million and a net profit margin of 5%. What are its sales? 1. VND 3,750,000 million 2. VND 480,000 million 3. VND 300,000 million
4. VND 1,500,000 million
Câu 90: The manager of firm A gives you the following infomation: sales = VND
4.8 billion, total debt = VND 1.5 billion, debt ratio = 40%, ROE = 18%. Using this
information, calculate ROA of firm A 1. 10.8% 2. 12.2% 3. 9.8% 4. 11.6% lOMoAR cPSD| 61159950
Câu 91: Saunders Corp. has current liabilities of VND 435,000 million, a quick
ratio of 0.95, inventory turnover of 6.2, and a current ratio of 1.6. What is the cost of goods sold? 1. VND 696,000 million 2. VND 282,750 million 3. VND 457,890 million
4. VND 1,753,050 million
Câu 92: ABC Company has current liabilities of VND 15 billion. Cash makes up
10% of the current assets and accounts receivable makes up another 40% of current
assets. ABC's current ratio = 2.1 times. Calculate the value of inventory listed on the firm's balance sheet? 1. VND 31.5 billion 2. VND 12.6 billion 3. VND 15.75 billion
4. VND 18.9 billion
Câu 93: XYZ has current liabilities = VND 5 billion, current ratio = 2, inventory
turnover ratio = 8, DSO = 30 days, and sales = VND 42 billion, COGS = VND 32 billion.
Calculate the value of cash and marketable securities 1. VND 10 billion 2. VND 2.5 billion 3. VND 4 billion 4. VND 3.5 billion
Câu 94: Kanji Company had sales last year of VND 265 billion, including cash
sales of VND 25 billion, If its average collection period was 36 days, the ending accounts
receivable balance is _____ 1. VND 26.5 billion 2. VND 28 billion 3. VND 26 billion 4. VND 24 billion
Câu 95: For its most recent year a company had Sales (all on credit) of VND
830,000 million and Cost of goods Sold of VND 525,000 million. At the beginning of the
year its Account Receivables was VND 80,000 million and its Inventory was VND
100,000 million. At the end of the year its Account Receivable was VND 86,000 million
and its Inventory was VND 110,000 million.
The inventory turnover ratio for the year was 1. 4.8 2. 5.0 3. 7.9 4. 6.7
Câu 96: For its most recent year a company had Sales (all on credit) of VND
830,000 million and Cost of goods Sold of VND 525,000 million. At the beginning of the
year its Account Receivables was VND 80,000 million and its Inventory was VND
100,000 million. At the end of the year its Account Receivable was VND 86,000 million
and its Inventory was VND 110,000 million.
The account receivable turnover ratio for the year was 1. 6.3 lOMoAR cPSD| 61159950 2. 7.5 3. 10.0 4. 8.3
Câu 97: For its most recent year a company had Sales (all on credit) of VND
830,000 million and Cost of goods Sold of VND 525,000 million. At the beginning of the
year its Account Receivables was VND 80,000 million and its Inventory was VND
100,000 million. At the end of the year its Account Receivable was VND 86,000 million
and its Inventory was VND 110,000 million.
On average how many days of sales were in Account Receivable during the year 1. 27 2. 36 3. 49 4. 52
Câu 98: What problem happens in current asset if the current assets much more
excessive than the accounts payables? 1. Overtrading 2. Underinvestment
3. Lack of working capital 4. Overinvestment
Câu 99: Which of the following activities increases the cash in balance:
1. A company receives a tax refund
2. A company purchases marketable securities
3. A company issues long-term debt
4. A company purchases fixed asset
Câu 100: If this year ABC firm remains the same level of sales as last year but
give more credits to its customers, the accounts receivable period this year would be: 1. Shorter than last year 2. Equal to last year
3. Longer than last year 4. No change
Câu 101: Which of the following activities decreases the cash in balance?
1. A company sells short-term stocks
2. A company disposes of less effective non-current assets
3. A company pays insurance claim
4. A company reduces in inventory
Câu 102: Company ABC is a food manufacturer. Which of the following items is a
non-current asset when considering the financial position of ABC? 1. Short-term liability 2. Unfinished goods 3. Trucks for delivery
4. Cash in banking deposit
Câu 103: If a company kept the depreciation expenses of a fixes asset constant
during the useful life that means:
1. The company applied the accelerated depreciation method for fixed asset lOMoAR cPSD| 61159950
2. The company employed the double-declining depreciation method for the fixed asset
3. The company used the straight-line depreciation method for fixed asset
Câu 104: A&B stock has a beta of 1.09. The risk free rate of return is 2.75% and
the market rate of return is 9.8%
What is the risk premium on this stock? 1. 7.68% 2. 6.47% 3. 7.03% 4. 7.88%
Câu 105: If current asset is VND 192 billion; inventories are VND 91 billion and
current liabilities are VND 97 billion then current ratio is: 1. 1.04 times 2. 1.04% 3. 1.98% 4. 1.98 times
Câu 106: The effective rate of interest associated with a 6% nominal rate of
return when interest is compounded monthly is: 1. 6.09% 2. 6.17% 3. 6.41% 4. 6.14%
Câu 107: When considering a capital budgeting project the financial manager should consider the:
I. Timing of the project's cash flow II. Size of the project
III. Risk associated with the project's cash flow 1. II and III only 2. I,II and III 3. I and II only 4. I only
Câu 109: You recently purchased a stock which is expected to earn 22% in a
booming economy; 9% in normal economy, and loss 33% in recessionary economy.
There is a 5% probability of a boom, a 75% chance of a normal economy and 20%
probability of a recessionary economy
What is your expected rate of return on this stock? 1. -1.25% 2. 1.25% 3. -2.6% 4. -3.4%
Câu 110: Which one of the following will increase the cash cycle?
1. improving the cash discounts given to customers who pay their accounts early lOMoAR cPSD| 61159950
2. having a larger percentage of customers paying with cash instead of credit
3. buying less raw materials to have on hand
4. paying your suppliers earlier to receive the discount the offer
5. ordering raw materials inventory only when you need it
Câu 111: Which of the following will increase the cash cycle, all else constant?
I. increasing the inventory period
II. decreasing the accounts receivable turnover rate
III. increasing the accounts payable period
IV. decreasing the accounts receivable period 1. I and II only 2. III and IV only 3. I and IV only
4. I,II and III only
Câu 112: BM has sales of VND 29 billion, total assets of VND 17.5 billion and
total debts of VND 6.3 billion. If the net profit margin is 8%. What is ROA? 1. 20.71% 2. 20.71 3. 13.26% 4. 13.26%
Câu 113: which one of the following statement is correct concerning unsystematic risk?
1. beta measures the level of unsystematic risk inherent in a individual security
2. eliminating unsystematic risk is the responsibility of the individual investor
3. an investor is rewarded for assuming unsystematic risk
4. standard deviation is a measure of unsystematic risk
Câu 114: What are the ultimate goal of financial management?
1. Maximizing the sustainable growth of the corporation
2. maximizing the sales for the shareholder
3. maximizing the profit for the shareholder
4. maximizing the firm value for the shareholder
Câu 115: Which one of the following is a capital structure decision?
1. determining which one of two projects to accept
2. determining how much debt should be assumed to fund a project
3. determining how to allocate investment funds to multiple projects
4. determining the amount of funds needed to finance customer purchases of a new product
Câu 116: Which of the following are uses of cash? I. collecting a receivable II. increasing inventory III. obtaining a bank loan
IV. paying a supplier for previous purchases I and II only II and IV only lOMoAR cPSD| 61159950 3. I and III only
4. I, II and IV only
Câu 117: According to CAPM, the amount of reward an investor receives for
bearing the risk of an individual security depends upon the:
1. market risk premium and the amount of systematic risk inherent in the security
2. amount of total risk assumed and the market risk premium
3. risk free rate, the market rate of return and the standard deviation of the security
4. beta of the security and the market rate of return
Câu 118: Suppose you borrows VND 2.000 million. you are going to repay the
loan by making equal annual payments at the end of the year for 5 years. if the interest
rate of the loan is 13% per year.
How much money will you have to pay each year for this loan? 1. vnd 578.63 million 2. vnd 588.63 million 3. vnd 668.63 million 4. vnd 568.63 million
Câu 119: which one of the following increases cash
1. granting credit to a customer
2. making a payment on a bank loan
3. accepting credit from a supplier
4. purchasing new machinery
Câu 120: working capital management?
1. is concerned with having sufficient funds to operate the business on a daily basis
2. ensure that long term debt is acquired at the lowest possible cost
3. ensures that sufficient equipment is available to produce the amount of product desired on a daily basis
4. ensures that the dividends are paid to all stockholders on an annual basis
Câu 121: The expected return on a stock given various states of the economy is equal the
1. weighted average of the returns for each economics state
2. highest expected return given any economic state
3. arithmetic average of the returns for each economic state
4. summation of the individual expected rates of return
Câu 122: BM has beginning working capital of VND 607 billion, ending working
capital of VND 503 billion and net sale for the year is VND 4,105 billion. What is the working capital turnover? 1. 9.2 times 2. 7.4 3. 9.2 4. 7.4 times
Câu 125: The risk free rate of return is 6% and the market risk premium is 6%.
What is the required rate of return on a stock with a beta of 1.5? 15% 6% lOMoAR cPSD| 61159950 3. 6 4. 15
Câu 126: the greater the beta, the....... of the security involved
1. greater the unavoidable risk
2. greater the avoidable risk
3. less the avoidable risk
4. less the unavoidable risk
Câu 127: GLK company purchases the machine of VND 1.800 million. straight
line depreciation method is used, based on a 12 years life. the machine's depreciation each year is? 1. VND 140 million 2. VND 150 million 3. VND 120 million 4. VND 180 million
Câu 131: which of the following is a capital budgeting decision?
1. should the firm borrow money from a bank or sell bonds
2. should the firm shut down an unprofitable factory
3. should the firm buy or lease a new machine that it is committed to acquiring
4. should the firm issue preferred stock or common stock
Câu 132: The best definition of a sole trader form of business organizations
1. the business only employs one person
2. the business is owned by one person
3. the firm has a single customer
4. there is a single firm in the industry
Câu 133: One of the claimed advantages of a sole trader business is that:
1. owners have limited liability
2. shares can be sold to raise capital
3. decisions and responsibilities can be shared
4. the owner has independence
Câu 134: one of the disadvantages of a sole trader business is that:
1. capital is limited to the owner's savings and bank loans
2. decisions take to long to make
3. as they are government owned there is no profit motive
4. the owners may disagree
Câu 135: one of the advantage of a partnership form of business organization is that:
1. all partners always have limited liability
2. shares can be sold on the stock exchange
3. the business survives the death of the partners
4. the business has access to more capital than a sole trader
Câu 136: Which of the following is not a feature of a private limited company?
shares can be issued to raise capital
shares can be bought and sold on the stock exchange