茲維博迪金融學(xué)第二版試題庫9tb

1、91ChapterNineValuationofCommonStocksThischaptercontains47multiplechoicequestions17shtproblems9longerproblems.MultipleChoice1.Inaquotelistingofstocksthe________isdefinedastheannualizeddollardividenddividedbythestock?spric

2、eisusuallyexpressedasapercentage.(a)cashdividend(b)dividendpayout(c)dividendcoverage(d)dividendyieldAnswer:(d)2.Accdingtothediscounteddividendmodelthepriceofashareofstockisthe________valueofallexpected________dividendspe

3、rsharediscountedatthemarketcapitalizationrate.(a)presentcurrent(b)presentfuture(c)futurefuture(d)futurecurrentAnswer:(b)3.Thevalueofcommonstockisdeterminedbywhichofthefollowingexpectedcashflows(a)dividendsinterestpayment

4、s(b)dividendsmaturityvalueofstock(c)dividendscashflowsfromoperationsofthefirm(d)interestpaymentsmaturityvalueAnswer:(c)938.GMATSstockiscurrentlysellingf$34.50ashare.Thecurrentdividendfthisstockis$1.60dividendsareexpected

5、togrowataconstantrateof10%peryearthereafter.WhatmustbethemarketcapitalizationratefashareofGMATSstock(a)4.90%(b)5.36%(c)14.64%(d)15.10%Answer:(d)9.Avacstockisexpectedtopayadividendof$1.89ayearfromnowitsdividendsareexpecte

6、dtogrowataconstantrateof5%peryearthereafter.Ifthemarketcapitalizationrateis14%peryearwhatisthecurrentpriceofashareofAvacstock(a)$13.50(b)$18.90(c)$21.00(d)$37.80Answer:(c)10.GRITOstockiscurrentlysellingf$46.10ashare.Ifth

7、ecompanyisexpectedtopayadividendof$5.60ayearfromnowdividendsarenotexpectedtogrowthereafterwhatisthemarketcapitalizationratefashareofGRITOstock(a)7.56%(b)8.23%(c)10.50%(d)12.15%Answer:(d)11.IntheDDMmodelifD1kareheldconsta

8、ntwhatwillhappentothepriceofastockiftheconstantgrowthrategetshigher(a)thepriceofthestockwillbehigher(b)thepriceofthestockwillholdconstant(c)thepriceofthestockwillbelower(d)itcannotbedeterminedfromtheinfmationgivenAnswer: