1/On the balance sheet dated December 31, 2017 of company A, there is a
retained profit of 50 billion VND at the beginning of the year and 60 billion
VND at the end of the year. Profit after tax for the whole year 2017 is 22
billion VND. Profits used to distribute dividends to shareholders are: a. 12 billion VND b. 10 billion VND c. 22 billion VND d. 8 billion VND
The correct answer is: 12 billion VND
2/ Which of the following statements is false:
a. Dividends are distributed to shareholders, bonds are paid to bondholders
b. For joint stock companies, shareholders are equity holders, bondholders are creditors.
c. The real income of shareholders and bondholders is influenced by the market
d. The rights of shareholders and bondholders are the same.
The correct answer is: The rights of shareholders and bondholders are the same.
Question3 One The project has a fixed cost of 500 million VND; Unit selling
price and variable costs are 1.5 million VND and 1 million VND, respectively.
If you want the project to reach EBIT = 1 billion VND, how many products must be produced and sold? a. 1.000 SP b. 3.000 SP c. 600 SP d. 750 SP
The correct answer is: 3.000 SP
Question4 Finance The enterprise's fixed assets have an original cost of 10
billion VND, depreciated over 4 years, at the rates of 20%, 30%, 40% and 10%
respectively. If the corporate income tax rate is 20%, the tax shield from
depreciation determined in the third year is: a. 800 million VND b. 200 million VND c. 60 million VND d. 40 million VND
The correct answer is: 800 million VND
Question 5 A change in the capital structure of an enterprise will affect
which of the following indicators? a.ROI b. ROE c. EBITDA d. All the above indicators The correct answer is: ROE
Question6 Thi Financial schools are where businesses:
a. Find suppliers of production factors at input and markets for consuming
products and services at output
b. Recruiting good financial experts
c. Find funding and investment opportunities d. All right
The correct answer is: Find funding and investment opportunities
Question 7One project is expected to have a net revenue of 14 billion VND;
Total costs incurred including materials are 2.5 billion VND; Direct salary 1.5
billion VND; General management costs are 1 billion VND. What is the
breakeven revenue (Sbe) of the project? a. 5 billion VND b. 3 billion VND c. 2.5 billion VND d. 1.4 billion VND
The correct answer is: 1.4 billion VND
Question 8 Any investment project will have a chance of being selected when its NPV is like? a. NPV > 0 b. NPV < 0
c. NPV > capital cost of the project
d. NPV = capital cost of the project
The correct answer is: NPV > 0
Question9 Phat Which of the following statements is considered correct:
a. The higher the risk of a stock, the higher its required rate of return
b. The higher the unsystematic risk of a stock, the higher its required rate of return
c. The higher the stock's systematic risk, the higher the stock's required rate of return
d. The higher the financial risk of a stock, the higher the required rate of return of the stock
The correct answer is: The higher the systematic risk of a stock, the higher the
required rate of return of the stock
Question10 Risk ro is understood as:
a. The possibility of unexpected events causing harm or injury
b. The possibility that the investment's return rate is negative or lower than expected
c. Is the uncertainty of the expected rate of return d. All right
The correct answer is: All are correct
Question11 If Combining a portfolio of two financial assets, the benefits of
diversification are achieved when:
a. The correlation coefficient of returns between these two financial assets is less than 1
b. The correlation coefficient of returns between these two financial assets is equal to 1
c. The correlation coefficient of returns between these two financial assets is greater than 1
d. The above statements are all wrong
The correct answer is: The correlation coefficient between these two financial assets is less than 1
Question12 In After 4 years of college, at the end of every month you deposit 1
million VND in the bank with an interest rate of 2%/month compounded
monthly. After 1 month, calculated from the end of 4 school years, the balance
of this deposit is (rounded figure)? a. 79.4 million VND b. 86.3 million VND c. 85.7 million VND d. 80.9 million VND
The correct answer is: 80.9 million VND Question 13
Company value is 800 billion VND; Of which 65% is equity, capital cost is
14%/year. If WACC = 12.32%, what is the pre-tax cost of debt. Know the
corporate income tax rate of 20% a. 8 years b. 10 years c. 11.5%/year d. 13.5%/year
The correct answer is: 11,5% /năm
Question14 If This year's interest rate is 10% and next year's is 15%;
According to the simple interest method, if you want to receive 100 million
VND in the next 2 years, you need to investday how much? a. 80.00 million VND b. 79,051 million VND c. 125.00 million VND d. 86,957 million VND
The correct answer is: 80.00 million VND Question 15
When comparing two funding options; To promote the benefits of financial
leverage, what must the business's operating EBIT be like?with Indifferent
EBIT of those two capital structures.
a. Equal to the indifferent EBIT of the two comparative options.
b. Greater than the indifferent EBIT of the two comparative options.
c. Smaller than the indifferent EBIT of the two comparative options.
d. All of the above sentences are wrong
The correct answer is: Greater than the indifferent EBIT of the two compared options.
Question16 Doanh Business C has a D/E of 25%. If pricebusiness management
industry is 5,000 billion VND; What is the value of equity? a. 4,000 billion VND b. 2,400 billion VND c. 3,750 billion VND d. 1,250 billion VND
The correct answer is: 4,000 billion VND
Question17 Send Bank money has an interest rate of 8%/year. If the economy
has an inflation rate of 12%/year, what is the real interest rate on this deposit? a. positive 21.74%/year b. negative 4.35%/year c. negative 3.57%/year d. positive 3.70%/year
The correct answer is: minus 3.57%/year
Question18 If covariance of returns of two securities A and B, has negative value; then:
a. The returns of A and B are both negative
b. The profitability rates of A and B have no relationship with each other
c. The profit rates of A and B fluctuate in the same direction.
d. The profit rates of A and B fluctuate in opposite directions.
The correct answer is: The profit rates of A and B fluctuate in opposite directions.
Question19 Doanh Ben Thanh Enterprise borrowed 50 million VND, interest
rate 13%/year, compounded semi-annually, for a term of 2.5 years. At maturity,
the amount of interest the company must pay to creditors is? a. 68.5 million VND b. 14.3 million VND c. 18.5 million VND d. 42.1 million VND
The correct answer is: 18.5 million VND
Question 20A 2-year term bond, face value 10 million VND, interest payment
frequency is 0.6 million VND semi-annually. If the YTM is the same for the
bonds and portfolios considered, then this bond can be replaced by a portfolio consisting of:
a. Two 2-year discount bonds, with par value of 5 million VND/bond
b. A discount bond with a term of 2 years, with a face value of 10 million VND
c. One 2-year discount bond with par value of 10.6 million VND and three
discount bonds with par value of 0.6 million VND with maturities of ½, 1, and 1½ years respectively.
d. One 1-year discount bond with par value of 10.6 million VND and four
discount bonds with par value of 0.6 million VND with maturities of ½, 1, 1½ and 2 years respectively The correct answer is: C
Question 21 Formulas for calculating currency prices are often applied in:
a. Set up a debt collection schedule and debt repayment schedule
b. Evaluate investment effectiveness c. Securities valuation d. All The correct answer is: All
Question 2 A small apartment with 2 bedrooms currently costs 1 billion VND,
and house prices increase by 4%/year. You plan to buy such a house in 10
years. Right now yousend 100 million VND in the bank and then at the end of
each monthsend Continue an amount of money for 10 years. So how much
money must be deposited each month if the deposit interest rate is 1%/month (enter monthly interest). Select one: a. 90 million VND b. 5 million c. 5,955 million VND d. 6,747 million VND
The correct answer is: 5 million VND
Question3 If All other factors remaining constant and the ratio of retained
earnings for reinvestment (plowback ratio) increases, the intrinsic value Po of common stock will be: a. Increase b. Reduce c. Unchanged
d. Cannot be determined without further information The correct answer is: Tăng
Question4 One 2-year term securities, coupon rate 6.8%/year, face value 10
million VND, semi-annual interest payment frequency. Securities were
purchased at the market price of 9.5 million VND on the issuance date. With the
above information, the market interest rate for this security: a. 6.8% higher b. Equal to 6.8% c. Below 6.8%
d. There is not enough information to draw conclusions
The correct answer is: 6.8% higher
Question5 One Treasury bond with 5-year term, interest rate 9%/year, simple
interest calculation, issuance price equal to par value. At maturity, the
bondholder will receive 50 million VND (including bond interest and refunded
face value). What is the face value of the bond? a. 32.50 million VND b. 45.87 million VND c. 34.48 million VND d. 50 million VND
The correct answer is: 34.48 million VND
Question6 One The investment portfolio consists of 2 assets A and B. The
covariance of the return rate of (A & B) is 0.8%. The return correlation
coefficient of (A&B) is 0.8. If the standard deviation of A's return is 20%, what
is the standard deviation of B's return? a. 5% b. 10% c. 12,8% d. 20% The correct answer is: 5%
Question 7 Which of the following statements is false:
a. The increase in debt to total capital ratio does not affect EBITDA
b. The increase in debt to total capital ratio does not affect EBIT
c. Increased debt to total capital ratio does not affect ROE
d. Increased debt to total capital ratio does not affect ROI
The correct answer is: Increased debt to total capital ratio does not affect ROE
Question8 One Joint stock company with issued shares of 6 million shares; Par
value of each share is 10,000 VND; Issue price is 15,000 VND/share.
Accumulated profit: 2 billion VND. What is the value of the company's equity? a. 62 billion VND b. 82 billion VND c. 92 billion VND d. 142 billion VND
The correct answer is: 92 billion VND
QuestionIn In each year, the enterprise has total variable costs, depreciation,
debt, interest payable, and net revenue of VND 500 million, VND 180 million,
VND 100 million, VND 15 million, and VND 900 million, respectively. Know
the corporate income tax rate of 20%. The value of the tax shield from depreciation is: a. 36 million VND b. 100 million VND c. 30 million VND d. 180 million VND
The correct answer is: 36 million VND
Question10 Billion Which rate of return is not affected by financial leverage (FL)? a. ROE (Return on Equity) b. ROI (Return on Investment) c. ROS (Return on Sales) d. Allthe above target
The correct answer is: ROI (Return on Investment)
Question11 One 55 year old person, deduct 24 million VND/year from income
to invest. This is done regularly at the end of the year, with an interest rate of
10%/year compounded annually; The first deduction period is 1 year after the
present time; On retirement day (after 5 years), how much money will this person have accumulated? a. 111.5 million VND b. 146.5 million VND c. 120 million VND d. 386.5 million VND
The correct answer is: 146.5 million VND
Question12 Doanh Enterprises carry out promotional programs to reduce
prices, but still increase revenue when:
a. The % decrease in sales volume is higher than the % decrease in selling price
b. The % increase in sales volume is equal to the % decrease in selling price
c. The % increase in sales volume is higher than the % decrease in selling price
d. The % increase in sales volume is lower than the % decrease in selling price
The correct answer is: The % increase in sales volume is higher than the % decrease in selling price
Question13 Left promissory noteAND: Discount bond has a term of 2 years,
paying 25 million VND at maturity; Bond B: Discount bond has a term of 1
year, paying 2.5 million VND at maturity; Bond C: 2-year term bond, periodic
annual interest payments, coupon rate 10%/year, face value 25 million VND.
Suppose bonds A and B are combined to form a portfolio AB, and the yield to
maturity (YTM) is the same for all three bonds. Which of the following is correct? a. Price of AB > C's price b. Price of AB = Price of C c. Price of AB < C's price d. Inapproachable
The correct answer is: Price of AB < C's price
Question14 Doanh Enterprise has EBIT = 200 million VND/year; Debt = 100
million VND. Cost of debt before tax 13.75%/year. Cost of equity without using
debt 16%/year. According to M&M theory, determine the market price of
equity (E). Know the corporate income tax rate of 20%. a. 920 million VND b. 1,253 million VND c. 1,520 million VND d. 967 million VND
The correct answer is: 920 million VND
Question15 Theo CAPM, when an asset has systematic risk equal to the risk of
the market portfolio then that asset has: a. β = 0 b. β = 1 c. b >1 d. b<1 The correct answer is: β = 1
Question 16 If The required rate of return is 10%/year; 1 corporate bond has a
face value of 10 million VND; 3 year term, interest rate 20%/year with semi-
annual interest payment, what is a reasonable price? a. 71.5 million VND b. 13.64 million VND c. 12.54 million VND d. 10 million VND
The correct answer is: 12.54 million VND
Question17 Articles Which of the following is considered an advantage of private enterprise:
a. Strong competitiveness in capital
b. Only have limited liability for the debt obligations of the business
c. There are conditions to improve the level of modernization and specialization d. Profits are taxed only once
The correct answer is: Profits are taxed only once
Question18 Italy What is the correct meaning when talking about DFL of an enterprise?
a. Exaggeration of % change in EBIT compared to % change in revenue
b. Exaggeration of % change in EPS compared to % change in revenue.
c. Exaggeration of % change in EPS compared to % change in EBIT
d. Debt ratio to total business capital of the enterprise.
The correct answer is: Exaggeration of % change in EPS compared to % change in EBIT
Question 19With the same initial amount and an accumulated interest rate. If
the maturities are different, what will the calculated future value be?
a. The longer the term, the smaller the future value.
b. The shorter the term, the greater the future value
c. The longer the term, the greater the future value d. Not affected by term
The correct answer is: The longer the term, the greater the future value
Question 20You buy a one-year Treasury bill with a face value of 30 million
VND. What is the maximum price you can buy this bill to get a rate of return of 20%/year? Select one: a. 15 million VND b. 25 million VND c. 23 million VND d. 24 trd
The correct answer is: 25 million VND
Cau 31 Cong Company A has a pre-tax cost of debt of 10%; Cost of equity is
15%; The average cost of capital is 13.25%. Calculate the proportion of equity.
Know the corporate income tax rate of 20%. a. 75% b. 25% c. 81% d. 65% The correct answer is: 75%
Question2 Cong The company issues bonds with a face value of 100 million
VND, term of 2 years, interest rate of 10%/year, interest paid in advance;
payback at maturity. Calculate the after-tax cost of debt. Know the corporate income tax rate of 20%. a. 8% b. 15,4% c. 11,80% d. 9,44% The correct answer is: 9,44%
Question3 Finance Product A has a β coefficient of 0.8 and an expected rate of
return of 13%. If the risk-free rate is 5%; According to CAPM, which of the following is true:
a. The risk premium of asset A is higher than the risk premium of the market portfolio
b. The risk premium of asset A is 13%.
c. The return on the market portfolio is 15%.
d. The expected rate of return of asset A is only 80% of the rate of returnbelong to market directory
The correct answer is: The return on the market portfolio is 15%
Question4 Cong Company A has an annual EBIT of 10 billion VND with ROI
= 20%. If only equity is used, the current price per share is 10,000 VND. What
is the company's EPS? Know the corporate income tax rate of 20% a. 1,600 VND b. 1,500 VND c. 1,875 VND d. 1,250 VND
The correct answer is: 1.600 đồng
Question5 In Other things being equal, a coupon bond will increase in price when: a. Coupon rates increase
b. Yield to maturity (YTM) increased c. Maturity increases
d. All of the above ideas are wrong
The correct answer is: Coupon rates increase
Question6 When The enterprise implements a project with a risk level equal to
the enterprise's current operational risk; The cost of capital of a project is
usually determined by what criteria? a. WACC of the enterprise b. Cost of equity capital c. Pre-tax cost of debt d. After-tax cost of debt
The correct answer is: The business's WACC
Question7 When issue shares, can the issuing company receive equity
premium in trading on which market? a. Primary market b. Secondary market c. Primary or secondary market
d. Primary and secondary markets
The correct answer is: Primary market Question 8 pictures
The correct answer is: Dự án B
Question9 These Which indicator is not a measure of the risk level of an investment? a. Return variance.
b. The standard deviation of the rate of return.
c. Coefficient of variation of profit rate d. Profit ratio on revenue
The correct answer is: Profit ratio on revenue
Question10 One The project will be implemented in 5 years, with an
investment capital of 76.78 million VND. Net cash flow in the first year is 20
million VND; After that, each year increases one and a half times the previous
year. If the cost of capital is 10%/year, how long is the discounted payback period? a. 5 years b. 4 years c. 3 years d. 2 years The correct answer is: 3 năm
Question11 Price On the current market, REC company shares are 20,000
VND. At the end of last year, the company paid a dividend of 3,000 VND/share.
If the company's dividend growth rate is stable at 10%/year, then the cost of using this equity capital is? a. 26.50%/year b. 16.50%/year c. 25.00%/year d. 23.50%/year
The correct answer is: 26,50%/năm
Question12 Doanh The business has a market value of 4 billion VND; in which
Debt (D): 1 billion. Debt cost before tax 10%/year. Cost of equity without using
debt 13.75%/year. According to M&M theory, what is the current cost of
equity? Know the corporate income tax rate of 20%. a. 16%/year b. 15.2%/year c. 14.75%/year d. 12.53%/year
The correct answer is: 14,75%/năm
Question13 Cong The company issues bonds with par value of 20 million
VND, term of 6 years, interest rate of 10%/year, payment of interest and capital
at maturity. Net issuance price is 19.6 million VND. Calculate the pre-tax cost
of debt. Know the corporate income tax rate of 20%. a. 9,06 % b. 10,06 % c. 8,51 % d. 6,81 % The correct answer is: 8,51 %
Question14 Weak Which of the following is not an asset of the company? a. Factory b. Accounts payable to sellers c. Materials
d. Accounts receivable from customers.
The correct answer is: Accounts payable to sellers
Question15 Noi Which of the following is incorrect when talking about stocks and bonds:
a. The higher the default risk of a security, the higher the required return percentage
b. Bonds that sell for more than their face value are very high quality bonds
c. Securities with less liquidity often have high required rates of return
d. The required rate of return of company stocks is often higher than that of government bonds
The correct answer is: A bond sold at a price higher than its face value is a very high quality bond
Question16 System numberbrave tell Debt indicates: how much equity secures
one dollar of debt. Its calculation formula is: a. Equity/liabilities
b. Liabilities/equitydepartment property c. Accounts payable/equity d. Long-term loan/equity
The correct answer is: Equity/liabilities
Question17 Friends Buy FPT shares for 22,000 VND. After 1 year, the
dividend is 2,500 VND and the stock price is now 24,000 VND. What is the rate
of return on this investment after 1 year? a. 9,09% b. 20,45% c. 22,5% d. 11,36% The correct answer is: 20,45%
Question18 Doanh A company issues bonds with a specific coupon rate and
maturity. If the net issuance price is lower than par value, what will be the cost
of using debt from this source?
a. Higher than the bond's coupon rate
b. Equal to the bond's coupon rate
c. Lower than the bond's coupon rate
d. There is no relationship between the coupon rate and the cost of debt.
The correct answer is: Higher than the bond's coupon rate
Question19 Noi Which of the following is appropriate when the risk-free
interest rate decreases due to the loosening of monetary policy in the economy?
a. The average required rate of return on stocks held will decrease
b. The risk to the shares held will decrease c. a and b are correct d. a and b are wrong
The correct answer is: a and b are correct
Question 20 A house has a current market price of 4,157 billion VND. If the
buyer pays 40% immediately, the remaining installments over 12 years at the
end of each year, the amount is 500 million VND/time. The interest rate on this installment home purchase is: Select one: a. 6 years b. 29%/year c. 10 years
d. 17 %/year The correct answer is: 17 %/year Question 1 picture The correct answer is: 1.54
Question2 If As the market's required rate of return increases, the price of a discount bond will:
a. Increase more than the increase rate of the market's required rate of return
b. Increase less than the increase rate of the market's required rate of return c. Remains d. Reduce The correct answer is: Giảm
Question3 Cong Company A specializes in producing one type of product, unit
selling price: 20,000 VND, unit variable cost: 15,000 VND. The company's
breakeven output is: 160,000 products. The company's annual operating costs are: a. 700 million VND b. 800 million VND c. 900 million VND d. 950 million VND
The correct answer is: 800 million VND
QuestionThe business currently uses 10 billion VND of capital, of which 50%
is equity, the rest is debt, the after-tax cost of using debt is 11%/year. Compared
to 100% equity structure; What and how much are the tax savings from interest
in the current capital structure? Know that the corporate income tax rate is 20%.
a. Must pay more than 1.1 billion VND in tax b. Saved 137.5 million VND
c. Must pay more than 110 million VND in tax d. Saved 275 million VND
The correct answer is: Saved 137.5 million VND
Question 5Two options with equal break-even output are two options:
a. There is a break-even point located on the same linestraight perpendicular to the cost axis
b. There is a break-even point located on the same linestraight perpendicular to the output axis
c. There are always different break-even points
d. There is always the same break-even point
The correct answer is: The breakeven point is on the same linestraight
perpendicular to the output axis
Question6 Special Which of the following is true of a business that applies a
conservative financing strategy? a. High capital costs b. Be ready to face risks
c. Easy to lose the ability to pay d. Little collateral
The correct answer is: High capital costs
Question7 With 500 million VND investment capital, the return on capital of
the first deal is 10%, the second deal is 8%. What is the return on capital ratio of
both deals? Know that the entire income of the first deal is invested in the second deal. a. 18 % b. 18,8% c. 18,2% d. 18,5 % The correct answer is: 18,8%
Question8 Price Bonds tend to __________ in the YTM yield curve. a. Reduced and convex b. Reduced and concave c. Rising and convex d. Rising and concave
The correct answer is: Decreasing and convex
Question9 One 100 million VND loan for 18 month term. At maturity, the
borrower must pay 155, 970 million VND in capital and interest. So what is the loan interest rate %/month? a. 2,82% b. 1,47% c. 2,5% d. 5,6% The correct answer is: 2,5% Question 10
Which of the following decisions is not a business investment decision?
a. Retain 100 billion VND to increase equity
b. Spend 100 billion VND to build another factory
c. Spend 100 billion VND to buy shares of another company
d. Send some key workers to training to prepare to operate a factory with new technology
The correct answer is: Retain 100 billion VND to increase equity
Question11 If The two investments A&B have a correlation coefficient of
return rate ρ(AB) = 0.6.; Which of the following statements is correct?
a. The profit rates of A and B fluctuate in opposite directions
b. A and B can be combined to minimize portfolio risk
c. A and B are securities of two companies that sell interchangeable products
d. The above options are all wrong
The correct answer is: The above options are all wrong
Question12 When When a business mobilizes more capital, from a source of
funding that has a higher cost than the previous one, beyond what point the business's WACC will increase. a. Break-even point b. Indifferent point c. Break point d. Marginal point
The correct answer is: Break point
Question13 In period, the enterprise had a net profit of 176 million VND; Loan
interest must be paid 30 million; Corporate income tax rate is 20%. What is
earnings before interest and taxes (EBIT)? a. 170.8 million VND b. 250 million VND c. 110.8 million VND d. 190 million VND
The correct answer is: 250 million VND
Question14 One Investors earn 1 billion VND after 2 years. This person's
monthly profit rate is 2%/month in the first year, and 3%/month in the second
year. Capital gains to continue business. Calculate the investment capital of this person 2 years ago? a. 553 million VND b. 593 million VND c. 952 million VND d. 626 million VND
The correct answer is: 553 million VND
Question15 Corpse The probability of growth is 0.5, stability is 0.1 and
recession is 0.4. The profit rates in the above situations are 30%, 20% and -15%
respectively. Calculate the standard deviation of the rate of return. a. 4,59% b. 11,00% c. 21,42% d. 17,44% The correct answer is: 21,42%
Question16 In per year, the enterprise has fixed costs (not including
depreciation) of 300 million VND; total variable costs 1 billion VND;
Depreciation of fixed assets 500 million VND; Loan debt is 400 million VND,
debt cost before tax is 10%/year. Equity 1 billion VND, net revenue 8 billion
VND. Know the corporate income tax rate of 20%. The value of the tax shield from loan interest is: a. 40 million VND b. 8 million VND c. 80 million VND d. 6 million VND
The correct answer is: 8 million VND
Question17 Genus What type of expense is the business loan interest payment in the business's operations?
a. Maximize shareholder and creditor income through EBIT maximization
b. Maximize the asset value of company managers c. Maximize shareholder wealth d. All right
The correct answer is: All are correct