1/ Which of the following statements about the industry life cycle is most accurate?

A) The mature stage is followed by a shakeout stage and a decline stage.

B) The growth stage is typically characterized by decreasing prices.
C)

Industry growth rates are highest in the embryonic stage.

2/ Utilizing the infinite period dividend discount model, all else held equal, if the required rate of
return (Ke) decreases, the model yields a price that is:
A)reduced, due to increased spread between growth and required return.
B)reduced, due to the reduction in discount rate.
C)increased, due to a smaller spread between required return and growth.

3/ S dng m hnh chit khu dng c tc 1 nm v nhiu nm (DDM), hy tnh s

thay i gi tr ca c phiu Monster Burger Place : 25,22 v 29,80.
4/ Nu t l chi tr c tc d kin ca 1 doanh nghip c k vng tng t 50% ln
55%...: gim
5/ A company s payout ratio is 0.45 and its expected return on equity (ROE) is
23%...: 12.65%
6/ An equity valuation model that values a firm based on the market value of its outstanding debt and
equity securities, relative to a firm fundamental, is a(n):
A)
enterprise value model.
B)

asset-based model.

C)

market multiple model.

7/ Zanzibar Zanies, a novelties manufacturer, faces a number of competitive problems. It decides to

use the six-step process to determine how Porters five forces affect its industry. Zanzibar just finished
identifying competitors, buyers, suppliers, potential entrants, and potential substitutes. The next step
is to:
A)

assess possible changes in each force.

B) analyze the industry structure and determine how each of the five forces affect pricing.
C)

determine the strength or weakness of each of the five forces.

8/

Mt cng ty c t l chi tr c tc d kin vo mc 50%...: 3.33

9/ Karla Hanover, CEO ca Marshall Computers : S bin mt ca i th.

10/ Which of the following statements concerning security valuation is least accurate?
A)

The best way to value a company with no current dividend but who is expected to pay dividends
in three years is to use the temporary supernormal growth (multistage) model.

B)

A firm with a $1.50 dividend last year, a dividend payout ratio of 40%, a return on equity of
12%, and a 15% required return is worth $18.24.

C)

The best way to value a company with high and unsustainable growth that exceeds the required
return is to use the temporary supernormal growth (multistage) model.