兹维博迪金融学第二版试题库7TB(1)

15. What is the Cdn Dlr/Euro exchange rate? (i.e., CAD/EUR)

(a) 0.641807 CAD/EUR (b) 1.558099 CAD/EUR (c) 6.420 CAD/EUR (d) 16.196262 CAD/EUR

Answer: (b)

16. What is the Euro/Cdn Dlr exchange rate? (i.e., EUR/CAD)

(a) 0.3583 EUR/CAD (b) 0.641807 EUR/CAD (c) 1.558099 EUR/CAD (d) 10.394 EUR/CAD

Answer: (b)

17. What is the Peso/Cdn Dlr exchange rate? (i.e., MXN/CAD)

(a) 0.096201 MXN/CAD (b) 0.641807 MXN/CAD (c) 10.394882 MXN/CAD (d) 16.196262 MXN/CAD

Answer: (c)

18. What is the Peso/Euro exchange rate? (i.e., MXN/EUR)

(a) 0.617426 MXN/EUR (b) 6.675516 MXN/EUR (c) 15.581112 MXN/EUR (d) 16.196262 MXN/EUR

Answer: (d)

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19. You are travelling in FarOut where you can buy 130 kranes (a krane being the unit of

currency of FarOut) with a U.S. dollar at official FarOut banks. Your tour guide has a relative who dabbles in the black market and this particular relative will sell you kranes for just

$0.00833 each on the black market. How much will you lose or gain by exchanging $200 on the black market instead of going to the bank?

(a) you would gain approximately 1,660 kranes (b) you would lose approximately 1,660 kranes (c) you would gain approximately 1,990 kranes (d) you would lose approximately 1,990 kranes

Answer: (d)

20. In estimating the value of a share of a firm’s stock, a simple model is to :

(a) divide EPS by a P/E multiple (b) multiply EPS by a P/E multiple (c) multiply EPS by EAT

(d) divide EPS by market value

Answer: (b)

21. A firm’s earnings per share are $6 and the industry average P/E multiple is 9. What would

be an estimate of the value of a share of the firm’s stock?

(a) $54.00 (b) $45.00 (c) $1.50 (d) $0.67

Answer: (a)

22. The value of the asset as it appears in the financial statement is called the asset’s ________.

(a) market value (b) fixed value (c) book value (d) expected value

Answer: (c)

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23. Consider the following stock market reaction to the information contained in a company’s

announcement. A corporation has just announced that it must pursue the issuance of company equity. We could expect to see ________ in the price of company stock.

(a) a rise (b) a drop (c) a rapid rise (d) zero change

Answer: (b)

24. Consider what the stock market reaction to the following announcement would be. A

corporation has just announced that it is engaging in a stock split of the company’s shares. We could expect to see a ________ in the overall market capitalization rate and a ________ in the price of company stock.

(a) rise; drop (b) drop; rise (c) rise; drop (d) rise; drop

Answer: (a)

25. The ________ is the proposition that an asset’s current price fully reflects all publicly

available information about future economic fundamentals affecting the asset’s value.

(a) public markets hypothesis

(b) efficient markets exchange rates (c) fundamental value proposition (d) efficient markets hypothesis

Answer: (d)

26. The market price of an asset reflects the ________ of all analysts’ opinions with heavier

weights on analysts who control large amounts of money and on those analysts who have better than average information.

(a) best estimate (b) weighted average (c) highest estimate (d) lowest estimate

Answer: (b)

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27. Assume that the worldwide risk-free real rate of interest is 4% per year. Inflation in Denmark

is 9% per year and in the United States it is 7% per year. Assuming there is no uncertainty about inflation, what are the implied nominal interest rates denominated in Danish krone and in U.S. dollars, respectively?

(a) 16.63% (DKK); 13.50% (USD) (b) 13.50% (DKK); 16.63% (USD) (c) 13.36% (DKK); 11.28% (USD) (d) 11.28% (DKK); 13.36% (USD)

Answer: (c)

28. The ________ theory states that the expected real interest rate on risk-free loans is the same

all over the world.

(a) nominal interest-rate parity (b) real interest-rate parity

(c) efficient inflation rate parity (d) efficient market rate

Answer: (b)

29. ________ states that exchange rates adjust so as to maintain the same “real” price of a

“representative” basket of goods and services around the world.

(a) Purchasing power parity (b) Efficient markets hypothesis (c) Market valuation model (d) Exchange rate equity

Answer: (a)

30. Assume that the worldwide risk-free real rate of interest is 5% per year. Inflation in Australia

is 9% per year and in Great Britain it is 12% per year. Assuming there is no uncertainty about inflation, what are the implied nominal interest rates denominated in Australian dollars and Great Britain pounds, respectively?

(a) 22.08% (AUD), 11.45% (GBP) (b) 11.45% (AUD), 22.08% (GBP) (c) 17.60% (AUD), 14.45% (GBP) (d) 14.45% (AUD), 17.60% (GBP)

Answer: (d)

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