投资学第7版Test Bank答案19

Chapter 18 Equity Valuation Models

Multiple Choice Questions

1. ________ is equal to the total market value of the firm's common stock divided by (the replacement cost of the firm's assets less liabilities).

A) Book value per share B) Liquidation value per share C) Market value per share D) Tobin's Q E) None of the above.

Answer: D Difficulty: Easy

Rationale: Book value per share is assets minus liabilities divided by number of shares.

Liquidation value per share is the amount a shareholder would r

Chapter 9 The Capital Asset Pricing Model

Multiple Choice Questions

1. In the context of the Capital Asset Pricing Model (CAPM) the relevant measure of risk

is A) unique risk. B) beta. C) standard deviation of returns. D) variance of returns. E) none of the above.

Answer: B Difficulty: Easy Rationale: Once, a portfolio is diversified, the only risk remaining is systematic risk,

which is measured by beta.

2. According to the Capital Asset Pricing Model (CAPM) a well diversified portfolio's rate

of re

Chapter 7 Optimal Risky Portfolios

Multiple Choice Questions

1. Market risk is also referred to as A) systematic risk, diversifiable risk. B) systematic risk, nondiversifiable risk. C) unique risk, nondiversifiable risk. D) unique risk, diversifiable risk. E) none of the above.

Answer: B Difficulty: Easy Rationale: Market, systematic, and nondiversifiable risk are synonyms referring to the

risk that cannot be eliminated from the portfolio. Diversifiable, unique, nonsystematic, and firm-specific risks

Cost Accounting, 15e (Horngren/Datar/Rajan)

Chapter 19 Balanced Scorecard: Quality and Time

Objective 19.1

1) Which of the following is true of ISO 9000?

A) It is a quality management system comprising different process improvement such as six sigma and lean manufacturing.

B) It is mandatory for all listed companies in US to get ISO certified.

C) It helps companies monitor, document, and certify the elements of their production processes that lead to quality.

D) It is a disciplined, data-driven, and statistical approach

Cost Accounting, 15e (Horngren/Datar/Rajan)

Chapter 7 Flexible Budgets, Direct-Cost Variances, and Management Control

Objective 7.1

1) A master budget is ________.

A) a budget which starts from a zero base

B) developed for a period for a planned output C) developed at the end of a period D) a type of flexible budget Answer: B

Diff: 1

Objective: 1

AACSB: Analytical thinking

2) Management by exception is a practice whereby managers focus more closely on ________. A) a static budget

B) areas that are not operating

CHAPTER 6: CAPITAL ALLOCATION TO RISKY ASSETS PROBLEM SETS

1. (e) The first two answer choices are incorrect because a highly

risk averse investor would avoid portfolios with higher risk

premiums and higher standard deviations. In addition, higher or

lower Sharpe ratios are not an indication of an investor's

tolerance for risk. The Sharpe ratio is simply a tool to

absolutely measure the return premium earned per unit of risk.

2. (b) A higher borrowing rate is a consequence of the risk of the

borr owers’ default. In perfect m

CHAPTER 10

THE BALANCE OF PAYMENTS

MULTIPLE-CHOICE QUESTIONS

1. On the balance-of-payments statements, merchandise imports are classified in the:

a. Current account b. Capital account

c. Unilateral transfer account d. Official settlements account 2. The balance of international indebtedness is a record of a country’s international:

a. Investment position over a period of time b. Investment position at a fixed point in time c. Trade position over a period of time d. Trade position at a fixed point in time

3. Which balance

课程类别：专业基础课 开课学期：第四、五学期 指定教材： 吴晓求，《证券投资学》，中国人民大学出版社，2009年 参考教材：

兹维。波迪，《投资学》中国人民大学出版社 21世纪证券系列教材：吴晓求主编：《证券市场概论》、《证券投资分析》、《公司发行与承销》、《公司并购原理》、《证券投资基金》等

教学目的：

证券投资学作为一门专业基础课，是引领人们进入金融学术殿堂的概论性课程。通过学习本课程使学生掌握关于证券投资的基础知识、有价证券价格决定及证券组合基础理论；掌握证券投资的基本分析的理论和方法，了解证券投资技术分析的基本原理；正确理解证券市场的基本功能，了解证券监管现的基本理论。

导 论

开放的经济体系与现代金融体系；

经济体系的经济特征：经济全球化、市场一体化和资产证券化；实质经济与虚拟经济；现代金融的作用；传统金融与现代金融的区别；现代金融体系与资本市场；中国资本市场的可持续性发展；中国金融崛起的两个外部条件；发展资本市场的重要性。

第一章 证券投资工具 第一节 投资概述

1 ．投资的定义和目的

投资是货币转化为资本的过程。

投资的目的有

证券投资学（第2版）课后习题参考答案

程蕾 邓艳君 黄健

第一章 导论

1、证券投资与证券投机的关系？

答：联系：二者的交易对象都是有价证券，都是投入货币以谋取盈利，同时承担损失的风险。二者还可以相互转化。

区别：1）交易的动机不同。投资者进行证券投资，旨在取得证券的利息和股息收入，而投机者则以获取价差收入为目的。投资者通常以长线投资为主，投机者则以短线操作为主。

2）投资对象不同。投资者一般比较稳健，其投资对象多为风险较小、收益相对较高、价格比较稳定或稳中有升的证券。投机者大多敢于冒险，其投资对象多为价格波动幅度大、风险较大的证券。

3）风险承受能力不同。投资者首先关心的是本金的安全，投机者则不大考虑本金的安全，一心只想通过冒险立即获得一笔收入。

4）运作方法有差别。投资者经常对各种证券进行周密的分析和评估，十分注意证券价值的变化，并以其作为他们选购或换购证券的依据。投机者则不大注意证券本身的分析，而密切注意市场的变化，以证券价格变化趋势作为决策的依据。

2、简述证券投资的基本步骤。

答：1）收集资料；2）研究分析；3）作出决策；4）购买证券；5）证券管理。 3、试述金融市场的分类及其特

Test bank for Chapter two

CHOICE:

LEARNING OBJECTIVE 1

66.

67.

68. machinery? machinery. machinery.

69. 70. cost?

Managers should focus their efforts on managing: a. activities required to make products or deliver services b. products and services c. revenues d. None of these answers is correct Which value chain function would include the cost of computer-aided design

equipment and cost to develop the prototype of a product?

a. The distribution function would include these costs. b. The design of pr