"Equity Investments":Concepts and Basic Tools

下载正保会计网校APP 订阅最新报考消息

来源: 正保会计网校编辑：小鞠橘桔 2020/11/17 10:07:23　字体：大小

学习是一个不断积累的过程，每天学习一点，每天进步一点！为了帮助大家更高效地备考2021年CFA考试，正保会计网校每日为大家上新CFA习题供大家练习。让网校与您一起高效备考2021年CFA考试，梦想成真！

Questions 1:

Expected future benefits to be received from a common share are most likely an important input for a(n):

A 、asset-based model.

B 、multiplier model.

C、 present value model.

Questions 2:

An analyst gathered the following information about a company:

Equity Investments:Concepts and Basic Tools

Which of the following statements best describes the company’s price-toearnings ratio (P/E)?Compared to the company’s trailing P/E ratio, the justified forward P/E ratio based on the Gordon growth dividend discount model is:

A 、the same.

B、 higher.

C、 lower.

View answer resolution

【Answer to question 1】C

【analysis】

C is correct. Present value models estimate a security’s intrinsic value based on the present value of the future benefits expected to be received from the security. A is incorrect. Asset-based valuation models estimate the intrinsic value of a common share from the estimated value of assets of a corporation minus the estimated value of its liabilities and preferred shares. B is incorrect. Multiplier models are based chiefly on share price multiples or enterprise value multiples.

【Answer to question 2】C

【analysis】

C is correct.

Equity Investments:Concepts and Basic Tools