单选题A company issues $10 million in 8 percent annual, 5-year bonds, when the market rate is 8.25 percent, The initial balance sheet liability and liability one year from the date of issue are closest to: Initial Liability Liability One Year Later A. $9900837 $9884018 B. $9900837 $9917656 C. $10000000 $9975000

单选题If a firm announces an unexpectedly large cash dividend, the efficient market hypothesis (EMH) would predict which of the following price changes at the announcement? A. An abnormal price change to occur before the announcement. B. An abnormal price change to occur at the time of the announcement. C. A gradual price change to occur for several weeks after the announcement.

单选题A financial surplus in the first iteration of a firm"s pro forma financial statements is most likely the result of:

单选题The bond-equivalent yield for a semi-annual pay bond is most likely:

单选题Which of the following groups of stocks do NOT tend to show above average returns over time? A. Stocks with low Book Value to Market Value (BV/MV). B. Neglected stocks. C. Small stocks.

单选题An increase in a firm"s stock price will, all else equal, cause the price to cash flow (P/CF) ratio to:

单选题An industrial economist is evaluating the supply and demand conditions for two different factors of production. Factor 1: The demand curve is derived from the resource's marginal revenue product in the current period. Factor 2: The supply curve is perfectly inelastic and the price is determined by demand. Which of the following choices most likely identifies these two factors of production? Factor 1 Factor 2 ①A. Labor Non-renewable resource ②B. Machinery Renewable resource ③C. Labor Renewable resource A. ①B. ②C. ③

单选题Which classification of hedge funds is least likely to use a short position in stock as a part of its strategy? A. Market-neutral funds. B. Risk arbitrage in mergers and acquisitions. C. Emerging-market funds.

单选题A company has announced that it is going to distribute a group of long-lived assets to its owners in a spin-off

单选题A project has the following expected cash flows: time cash flow 0 1 2 ($125000) $100000 $200000 If the risk-free interest rate is 4 percent, expected inflation is 3 percent, the market risk premium is 8 percent and the Beta for the project is 1, the investment"s net present value (NPV) is closest to:

单选题Assume that one year ago you bought 500 shares of a stock at $ 20 per share using margin. The margin rate was 50% and the interest rate on the margin loan was 10%. Assume no commissions. What is your return if the current stock price is $ 25 per share?

单选题Javox, Inc. is considering leasing an asset that has an estimated economic life of ten years and a lease term of eight years. The lease will not transfer ownership to Javox at expiration, and if Javox chooses to buy the asset at the termination date, they must pay the fair market value, If Javox leases the asset, it must be considered a(n):

单选题Which one of the following is NOT a major prediction of the effects of monetary policy?

单选题Which of the following is NOT a category on the statement of cash flows? Cash flow from :

单选题Comparative income statements for E Company and G Company for the year ended December 31 show the following (in $ millions): {{I}}E Company{{/I}} {{I}}G Company{{/I}} Sales 70 90 Cost of Goods Sold {{U}}(30){{/U}} {{U}}(40){{/U}} Gross Profit 40 50 Sales and Administration (5) (15) Depreciation {{U}}(5){{/U}} {{U}}(10){{/U}} Operating Profit 30 25 Interest Expense {{U}}(20){{/U}} {{U}}(5){{/U}} Earnings Before Taxes 10 20 Income Taxes {{U}}(4){{/U}} {{U}}(8){{/U}} Earnings after Taxes 6 12 The financial risk of E Company, as measured by the interest coverage ratio, is: A. higher than G Company's because its interest coverage ratio is less than one-third of G Company's. B. higher than G Company's because its interest coverage ratio is less than G Company's, but at least one-third of G Company's. C. lower than G Company's because its interest coverage ratio is more than G Company's but less than three times G Company's.

单选题Which of the following is NOT a characteristic of an oligopoly? A. There are few sellers. B. High barriers to entry. C. Relatively small economies of scale.

单选题 Use the following information for Questions. Peter is considering two bonds: Bond A yield 10% Bond B yield 7 %

单选题Given the following estimated financial results, value the stock of Fish Chips, Inc. , using the infinite period dividend discount model (DDM). Sales of $1000000 Earnings of $150000 Total assets of $800000 Equity of $400000 Dividend payout ratio of 60.0% Average shares outstanding of 75000 Real risk free interest rate of 4.0% Expected inflation rate of 3.0% Expected market return of 13.0% Stock Beta at 2.1 The per share value of Fish Chips stock is approximately: (Note: Carry calculations out to at least 3 decimal places. ) A. $17.91. B. $26.86. C. -$26.39.

单选题Using the following US Treasury forward rates

单选题A stock will pay a $4 dividend next year, $5 the year after, and $4.3 the following year. An investor believes that he can then sell the stock for $65 at the end of a 3-year holding period. The risk-flee rate of interest is 8%, the market return is 12%, and the stock"s beta is 1.1. What is the value of the stock?