Lecture 2
If a firm lies within a country with ________ or ________ domestic capital markets, it can achieve lower global cost and greater availability of capital with a properly designed and implemented strategy to participate in international capital markets.
所选答案： C. liquid; large
正确答案： B. illiquid; segmented
问题2 得1 分，满分1 分
Other things equal, a firm that must obtain its long-term debt and equity in a highly illiquid domestic securities market will probably have a ________.
所选答案： C. relatively high cost of capital
正确答案： C. relatively high cost of capital
问题3 得1 分，满分1 分
Relatively high costs of capital are more likely to occur in ________.
所选答案： C. highly illiquid domestic securities markets
正确答案： C. highly illiquid domestic securities markets
问题4 得1 分，满分1 分
Reasons that firms may find themselves with relatively high costs of capital include:
所选答案： B. all of the above
正确答案： B. all of the above
问题5 得1 分，满分1 分
Which of the following is NOT a contributing factor to the segmentation of capital markets?
所选答案： A. All of the above are contributing factors.
正确答案： A. All of the above are contributing factors.
问题6 得0 分，满分1 分
Which of the following is NOT a contributing factor to the segmentation of capital markets?
所选答案： B. Lack of transparency.
正确答案： A. All of the above are contributing factors.
问题7 得1 分，满分1 分
The weighted average cost of capital (WACC) is
所选答案： A. the required rate of return for a firm's average risk projects.
正确答案： A. the required rate of return for a firm's average risk projects.
问题8 得0 分，满分1 分
The capital asset pricing model (CAPM) is an approach
所选答案： A. used by marketers to determine the price of saleable product.
正确答案： D. to determine the price of equity capital.
问题9 得0 分，满分1 分
Which of the following is NOT a key variable in the equation for the capital asset pricing model?
所选答案： B. All are important components of the CAPM.
正确答案： A. The marginal tax rate.
问题10 得1 分，满分1 分
________ risk is a function of the variability of expected returns of the firm's stock relative to the market index and the measure of correlation between the expected returns of the firm and the market.
所选答案： C. Systematic
正确答案： C. Systematic
问题11 得0 分，满分1 分
Systematic risk
所选答案： D. is the standard deviation of a security's return.
正确答案： A. is measured with beta.
问题12 得1 分，满分1 分
Which of the following is generally unnecessary in measuring the cost of debt?
所选答案： A. All of the above are necessary for measuring the cost of debt.
正确答案： A. All of the above are necessary for measuring the cost of debt.
问题13 得0 分，满分1 分
The after-tax cost of debt is found by
所选答案： D. dividing the before-tax cost of debt by (1 - the corporate tax rate).
正确答案： A. multiplying the before-tax cost of debt by (1 - the corporate tax rate).
问题14 得0 分，满分1 分
A firm whose equity has a beta of 1.0
所选答案： C. stands little chance of surviving in the international financial market place.
正确答案： B. None of the above is true.
问题15 得1 分，满分1 分
The difference between the expected (or required) return for the market portfolio and the risk-free rate of return is referred to as ________.
所选答案： A. the market risk premium
正确答案： A. the market risk premium
问题16 得1 分，满分1 分
If a company fails to accurately predict it's cost of equity, then
所选答案： D. All of the above are true.
