2021 高级财务管理(首都经济贸易大学) 最新满分章节测试答案

本答案对应课程为:点我自动跳转查看
本课程起止时间为:2021-04-18到2021-06-14
本篇答案更新状态:已完结

Chapter 1. Corporate Finance, Ownership Structure, and Corporate Governance Test for Chapter 1

1、 问题:Concerning the characteristics of shareholder heterogeneity, which of the following is False?
选项：
A:Shareholders have different requirements for corporate governance.
B:Shareholders have different preferences on the age of the chief executive officer.
C:Shareholders have different required returns on the corporate.
D:Shareholders have different expectations on the corporate.
答案: 【Shareholders have different preferences on the age of the chief executive officer.】

2、 问题:Which of the following statement is False about the finance policy?
选项：
A:Having a clear and stable financial policy is of great importance to a modern company.
B:Financial policy is determined by the board of directors and management authorities.
C:The determining right of the financial policy is senior managers.
D:Finance policy can guide and restrict corporate behaviors.
答案: 【The determining right of the financial policy is senior managers.】

3、 问题:Which of the following statement is False about the optimal finance policy?
选项：
A:Optimal corporate finance could achieve the financial goal of maximizing the wealth of shareholders under the premise of corporate long-term sustainable development.
B:Optimal corporate finance is rational and planning corporate finance, which is embodied in a set of scientific, reasonable, and stable financial theories.
C:Optimal corporate finance can organically combine the corporate philosophy, corporate governance and management behavior, which can build up first-class corporate competitive ability.
D:Optimal finance policy needs to achieve the optimal capital structure, which has the lowest cost of equity capital.
答案: 【Optimal finance policy needs to achieve the optimal capital structure, which has the lowest cost of equity capital.】

4、 问题:Which of the following statement is False about the large shareholders?
选项：
A:LLS (1999) finds that even among the largest American firms, there is a modest concentration of ownership.
B:LLS (1999) suggests that in many countries large corporations have large shareholders and, further, that these shareholders are active in corporate governance.
C:LLS (1999) finds that in different countries and different regions, the type of large shareholders has no difference.
D:Large shareholders can be a family or an individual, the state, a widely held financial institution such as a bank or an insurance company, a widely held corporation, or miscellaneous such as a cooperative, a voting trust, or a group with no single controlling investor.
答案: 【LLS (1999) finds that in different countries and different regions, the type of large shareholders has no difference.】

5、 问题:What is the financial objective of the corporates?
选项：
A:Maximization of shareholder wealth.
B:Maximization of the stock price.
C:Maximization of social welfare.
D:Minimization of the accruals.
答案: 【Maximization of shareholder wealth.】

6、 问题:What are the important characteristics of finance policy?
选项：
A:Purposeful.
B:Industrial.
C:Timely.
D:Conventionally.
E:Invariable.
F:Unstable.
答案: 【Purposeful.;
Industrial.;
Timely.;
Conventionally.】

7、 问题:What are the three significant finance policies to corporate?
选项：
A:Cost of capital estimation policy.
B:Capital budgeting policy.
C:Financing policy
D:Dividend policy
E:Working capital policy
F:Financial risks control policy
答案: 【Capital budgeting policy.;
Financing policy;
Dividend policy】

8、 问题:What are the characteristics of finance policy under the cost of equity anchoring effect?
选项：
A:Have a specific tendency to estimate techniques of cost of capital.
B:Have measurable goals on the maximization of shareholders’ wealth.
C:Have a harmonious investor relationship and specific debt-to-equity ratio which is agreed by investors.
D:Have specific hurdle rate on investment projects.
E:Have proper dividend payout plans which trade off the required return and corporate long-term development.
F:Have a clear understanding on the external effect of the cost of capital.
答案: 【Have a specific tendency to estimate techniques of cost of capital.;
Have measurable goals on the maximization of shareholders’ wealth.;
Have a harmonious investor relationship and specific debt-to-equity ratio which is agreed by investors.;
Have specific hurdle rate on investment projects.;
Have proper dividend payout plans which trade off the required return and corporate long-term development.;
Have a clear understanding on the external effect of the cost of capital.】

9、 问题:What are the fundamental theories of corporate financial policy analysis?
选项：
A:Agency Conflict-Free Cash Flow Hypothesis
B:Information Asymmetry
C:Signaling Hypothesis
D:Capital Structure Hypothesis
E:Industry Convention Hypothesis
F:Behavioral Hypothesis
答案: 【Agency Conflict-Free Cash Flow Hypothesis;
Information Asymmetry;
Signaling Hypothesis;
Capital Structure Hypothesis;
Industry Convention Hypothesis;
Behavioral Hypothesis】

10、 问题:Which are the components of the external corporate governance policy?
选项：
A:Government regulations
B:Demand for and assessment of performance information
C:Debt covenants
D:Competition
E:Media pressure
F:Managerial labor market
答案: 【Government regulations;
Demand for and assessment of performance information;
Debt covenants;
Competition;
Media pressure;
Managerial labor market】

Chapter 2. Cost of Capital

1、 问题:（此测试仅作为巩固练习，不计入期末成绩）Which of the following item has the cost of capital?
选项：
A:Accruals
B:Debt
C:Deferred taxes
D:Accounts payable
答案: 【Debt】

2、 问题:Cost of capital is the ____?
选项：
A:actual cost
B:sunk cost
C:historical cost
D:opportunity cost
答案: 【opportunity cost】

3、 问题:The cost of debt can be measured by the ____ of a bond.
选项：
A:coupon rate
B:expected yield
C:market rate
D:yield to maturity
答案: 【yield to maturity】

4、 问题:Which of the following is the application of cost of capital？
选项：
A:As the benchmark for compensation plans
B:Determining the target capital structure
C:As the hurdle rate in evaluating capital budgeting projects
D:All of the above
答案: 【All of the above】

5、 问题:Which of the following method is feasible for estimating the growth rate “g” in Gordon Model?
选项：
A:Use the historical growth rate.
B:Use the growth rate forecasted by analysts.
C:Use the earnings retention growth model.
D:All of the above
答案: 【All of the above】

6、 问题:Which of the following statements about the cost of capital are true?
选项：
A:Cost of capital is the opportunity cost.
B:Cost of capital is the actual cost paid by a firm to raise funds.
C:Cost of capital represents the degree of perceived risk.
D:Cost of capital is the return expected by investors who provide capital for a business.
E:Calculating the firm’s WACC, we should use book value to calculate the weights of debt and equity.
F:We should use the WACC to evaluate all potential investment projects.
答案: 【Cost of capital is the opportunity cost.;
Cost of capital represents the degree of perceived risk. ;
Cost of capital is the return expected by investors who provide capital for a business.】

7、 问题:The cost of capital is central to modern finance touching on ____.
选项：
A:investment decisions
B:measures of economic profit
C:divestment decisions
D:performance appraisal
E:incentive systems
F:none
答案: 【investment decisions;
measures of economic profit;
divestment decisions;
performance appraisal;
incentive systems】

8、 问题:External factors that affect the cost of capital include ____.
选项：
A:market interest rates
B:tax rates

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