"Equity Investments": Concepts and Basic Tools
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:
Which of the following statements is least accurate? A firm’s free cash flow to equity (FCFE):
A 、is a measure of the firm’s dividend-paying capacity.
B、 increases with an increase in the firm’s net borrowing.
C、 is significantly affected by the amount of dividends paid by the firm.
Questions 2:
An investor gathers the following data to estimate the intrinsic value of a company’s stock using the justified forward price-to-earnings ratio (P/E) approach.
The intrinsic value per share is closest to:
A、 $36.
B 、$48.
C、 $72
C is correct. Dividends, a discretionary cash flow from financing activities, have no bearing on a firm’s free cash flow to equity, as can be seen from the formula: FCFE = CFO – FCInv + Net borrowing.
A is incorrect. FCFE is a measure of dividend-paying capacity.
B is incorrect. FCFE increases with an increase in the firm’s net borrowing.
成功=时间+方法，自制力是这个等式的保障。世上无天才，高手都是来自刻苦的练习。而人们经常只看到“牛人”闪耀的成绩，其成绩背后无比寂寞的勤奋。小编相信，每天都在勤奋练习，即使是一点点的进步，大家一定可以成为人人称赞的“牛人”。更多CFA考试资讯，点击了解>
