2021 财务管理（双语）(首都经济贸易大学) 最新满分章节测试答案

文章目录[隐藏]

chapter 1 overview of the course and introduction to finacial management 课程简介和财务管理入门 Chapter 1
Chapter 2 Time value of the money and valuation货币时间价值与证券估值 Chapter 2
Chapter 3 Risk and return 介绍风险和收益的相关内容 Chapter 3
chapter 4 Capital budgeting 资本预算 chapter 4
Chapter 5 Cost of capital and capital structure 资本成本与资本结构 chapter 5
Dividend policy 股利政策 chapter 6
Working capital management 营运资本管理 chapter 7

本答案对应课程为:点我自动跳转查看
本课程起止时间为:2021-03-01到2021-07-15
本篇答案更新状态:已完结

chapter 1 overview of the course and introduction to finacial management 课程简介和财务管理入门 Chapter 1

1、问题:Do corporate decisions that increase the value of the firm’s equity benefit society as a whole?
选项：
A:Yes, as long as the value of the firm’s equity increases, society is better off.
B:Yes, as long as the increase in the value of the firm’s equity does not come at the expense of others.
C:No, any gain in the value of the firm’s equity is always less than the cost to society.
D:No, any gains in the value of the firm’s equity are perfectly offset by societal costs.
答案: 【Yes, as long as the increase in the value of the firm’s equity does not come at the expense of others.】

2、问题:The Principal-Agent Problem arises:
选项：
A:because managers have little incentive to work in the interest of shareholders when this means working against their own self-interest.
B:because of the separation of ownership and control in a corporation.
C:Both A and B
D:None of the above
答案: 【Both A and B】

3、问题:You overhear your manager saying that she plans to book an Ocean-view room on her upcoming trip to Miami for a meeting. You know that the interior rooms are much less expensive, but that your manager is traveling at the Company’s expense. This use of additional funds comes about as a result of:
选项：
A: an agency problem.
B:an adverse selection problem.
C:a moral hazard.
D:a publicity problem.
答案: 【 an agency problem.】

Chapter 2 Time value of the money and valuation货币时间价值与证券估值 Chapter 2

1、问题:Which of the following statements regarding the timeline is FALSE?
选项：
A: Date 1 is the end of the first year.
B:Date 0 is the beginning of the first year.
C:The space between date 0 and date 1 represents the time period between two specific dates.
D:You will find the timeline most useful in tracking cash flows if you interpret each point on the timeline as a period or interval of time.
答案: 【You will find the timeline most useful in tracking cash flows if you interpret each point on the timeline as a period or interval of time.】

2、问题:At an annual interest rate of 7%, the future value of $5,000 in five years is closest to:
选项：
A: $3,565
B:$6,750
C:$7,015
D: $7,035
答案: 【$7,015】

3、问题:If the current rate of interest is 8%, then the present value of an investment that pays $1000 per year and lasts 20 years is closest to:
选项：
A: $18,519
B: $45,761
C:$9,818
D: $20,000
答案: 【$9,818】

4、问题: Which of the following statements is FALSE?
选项：
A:The difference between an annuity and a perpetuity is that an annuity ends after some fixed number of payments.
B:Most car loans, mortgages, and some bonds are annuities.
C:A growing perpetuity is a cash flow stream that occurs at regular intervals and grows at a constant rate forever.
D:An annuity is a stream of N equal cash flows paid at irregular intervals.
答案: 【An annuity is a stream of N equal cash flows paid at irregular intervals.】

5、问题:Suppose that a young couple has just had their first baby and they wish to ensure that enough money will be available to pay for their child’s college education. Currently, college tuition, books, fees, and other costs, average $12,500 per year. On average, tuition and other costs have historically increased at a rate of 4% per year. Assuming that costs continue to increase an average of 4% per year, tuition and other costs for one year for this student in 18 years when she enters college will be closest to:
选项：
A:$12,500
B:$21,500
C:$320,568
D:$25,323
答案: 【$25,323】

6、问题:Suppose that a young couple has just had their first baby and they wish to ensure that enough money will be available to pay for their child’s college education. Currently, college tuition, books, fees, and other costs, average $12,500 per year. On average, tuition and other costs have historically increased at a rate of 4% per year. Assuming that college costs continue to increase an average of 4% per year and that all her college savings are invested in an account paying 7% interest, then the amount of money she will need to have available at age 18 to pay for all four years of her undergraduate education is closest to:
选项：
A:$97,110
B: $107,532
C:$101,291
D:$50,000
答案: 【$97,110】

7、问题:Suppose a ten-year bond with semiannual coupons has a price of $1,071.06 and a yield to maturity of 7%. This bond’s coupon rate is closest to:
选项：
A:3.5%
B:6.0%
C:7.0%
D:8.0%
答案: 【8.0%】

8、问题:Matilda Industries pays a dividend of $2.25 per share and is expected to pay this amount indefinitely. If Matilda’s equity cost of capital is 12%, which of the following would be expected to be closest to Matilda’s stock price?
选项：
A:12.25
B: 14.65
C: 18.75
D: 21.98
答案: 【 18.75】

9、问题:Dagny Taggart is a graduating college senior and she is considering the costs of going to medical school. Beginning next fall, Dagny expects medical school tuition to run $45,000 for the first year and she estimates that tuition will increase by 6% each year. If Dagny is able to invest her money in an account paying 8% interest per year, then the present value to Dagny of four years of medical school tuition is closest to:
选项：
A: $149,045
B:$155,930
C:$162,095
D:$180,000
答案: 【$162,095】

10、问题:The Sisyphean Company has a bond outstanding with a face value of $1000 that reaches maturity in 15 years. The bond certificate indicates that the stated coupon rate for this bond is 8% and that the coupon payments are to be made semiannually. Assuming the appropriate YTM on the Sisyphean bond is 7.5%, then the price that this bond trades for will be closest to:
选项：
A:$1,045
B:$691
C:$1,000
D:$957
答案: 【$1,045】

11、问题:Nielson Motors has a share price of $25 today. If Nielson Motors is expected to pay a dividend of $0.75 this year, and its stock price is expected to grow to $26.75 at the end of the year, then Nielson’s dividend yield and equity cost of capital are:
选项：
A:3.0% and 7.0% respectively.
B:3.0% and 10.0% respectively.
C:4.0% and 6.0% respectively.
D:4.0% and 10.0% respectively.
答案: 【3.0% and 10.0% respectively.】

Chapter 3 Risk and return 介绍风险和收益的相关内容 Chapter 3

1、问题:Which of the following investments offered the highest overall return over the past eighty years?
选项：
A:Treasury Bills
B:S&P 500
C:Small stocks
D:Corporate bonds
答案: 【Small stocks】

2、问题:Which of the following statements is FALSE? ( )
选项：
A:The variance increases with the magnitude of the deviations from the mean.
B:The variance is the expected squared deviation from the mean.
C:Two common measures of the risk of a probability distribution are its variance and standard deviation.
D:If the return is riskless and never deviates from its mean, the variance is equal to one.
答案: 【If the return is riskless and never deviates from its mean, the variance is equal to one.】

3、问题:Consider a portfolio that consists of an equal investment in 20 firms. For each of these firms, there is a 70% probability that the firms will have a 16% return and a 30% that they will have a – 8% return. Each of these firms’ returns is independent of all others. The standard deviation of this portfolio is closest to:
选项：
A:2.5%
B:4.2%
C: 8.8%
D:11.0%
答案: 【2.5%】

4、问题:Which of the following statements is FALSE?
选项：
A:Because investors are risk averse, they will demand a risk premium to hold unsystematic risk.
B:Over any given period, the risk of holding a stock is that the dividends plus the final stock price will be higher or lower than expected, which makes the realized return risky.
C:The risk premium for diversifiable risk is zero, so investors are not compensated for holding firm-specific risk.
D:Because investors can eliminate firm-specific risk “for free” by diversifying their portfolios, they will not require a reward or risk premium for holding it.
答案: 【Because investors are risk averse, they will demand a risk premium to hold unsystematic risk.】

5、问题:Assume that the risk-free rate of interest is 3% and you estimate the market’s expected return to be 9%. BetaVolatilityEenie0.4520%Meenie0.7518%Miney1.0535%Moe1.2025%Which firm has the highest market risk?
选项：
A:Eenie
B:Meenie
C:Miney
D:Moe
答案: 【Moe】