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单选题 Standard deviation measures _____ risk while beta measures _____ risk.

A、 systematic; unsystematic

B、 unsystematic; systematic

C、 asset-specific; market

D、 total; systematic\

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单选题 Which one of the following is a capital budgeting decision?

A、 determining how much debt should be borrowed from a particular lender

B、 deciding whether or not to open a new store

C、 deciding when to repay a long-term debt

D、 determining how much inventory to keep on hand

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单选题 The value of a firm is maximized when the:

A、 cost of equity is maximized.

B、 debt-equity ratio is minimized.

C、 levered cost of capital is maximized.

D、 weighted average cost of capital is minimized

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单选题 The use of WACC to select investments is acceptable when the:

A、 correlation of all new projects are equal.

B、 NPV is positive when discounted by the WACC.

C、 risk of the projects are equal to the risk of the firm.

D、 firm is well diversified and the unsystematic risk is negligible.

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单选题 Which one of the following is a correct statement, all else held constant?

A、 The present value is inversely related to the future value.

B、 The future value is inversely related to the period of time.

C、 The period of time is directly related to the interest rate.

D、 The future value is directly related to the interest rate.

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单选题 You want to have $25,000 in an investment account four years from now. The account will pay 0.2 percent interest per month. If you save money every month, starting one month from now, how much will you have to save each month to reach your goal (Note that (1.002)!×#$ = 1.1007)?

A、 About $492

B、 About $497.

C、 About $502

D、 About $45

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单选题 An efficient capital market is one in which:

A、 some market participants will have an advantage over others..

B、 security prices reflect available information.

C、 securities always offer a positive rate of return to investors.

D、 None of the above.

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单选题 MM Proposition I with no tax supports the argument that:

A、 business risk determines the return on assets.

B、 the cost of equity rises as leverage rises..

C、 it is completely irrelevant to a firm’s capital structure..

D、 a firm should borrow money to the point where the tax benefit from debt is equal to the cost of the increased probability of financial distress.

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