下载APP
首页 > CFA > 试题中心 > 数量方法

"quantity"exercise:net present value

来源: 正保会计网校 2020-12-18
普通

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:

When considering two mutually exclusive capital budgeting projects with conflicting rankings—one has a higher positive net present value (NPV), the other has a higher internal rate of return (IRR)—the most appropriate conclusion is to choose the project with the:

A 、higher NPV

B、 higher IRR.

C、 shorter payback.

Questions 2:

A Type I error is best described as the probability of:

A 、failing to reject a false null hypothesis.

B 、rejecting a true alternative hypothesis.

C 、rejecting a true null hypothesis.

View answer resolution
【Answer to question 1】A

【analysis】

A is correct. The project with the higher NPV should be undertaken because NPV measures the increase in wealth as a result of taking the project. For mutually exclusive projects, IRR may give incorrect decisions as a result of scale and/or cash flow timing effects. Payback is not an economically sound method for evaluation of capital projects. 

B is incorrect. When IRR and NPV conflict in ranking, the higher NPV project is chosen. 

C is incorrect. Payback suffers from severe deficiencies as a decision tool. In particular, because it is not economically sound, the payback period should not be used to evaluate projects.

【Answer to question 2】C

【analysis】

C is correct. A Type I error is the mistake of rejecting the null hypothesis when it is, in fact, true. 

A is incorrect. This is the definition of a Type II error. 

B is incorrect. This is an entirely wrong statement and it is not one of possible outcomes when we test a null hypothesis.

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”。

点击了解更多CFA考试资讯>>

今日热搜
热点推荐:
CFA考试课程
CFA面授课程

CFA优享/旗舰面授课程

实时互动 备考无忧

大学生专享点击了解

CFA课程试听

扫码关注公众号
正保金融大讲堂

接收更多考试资讯

扫码找组织

有奖原创征稿
取消
复制链接,粘贴给您的好友

复制链接,在微信、QQ等聊天窗口即可将此信息分享给朋友
客服