Which of the following best describes the risk associated with the ability to sell a shortterm investment quickly without significant impact on the price?
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A This would not be considered bribery because bribes must be monetary B This would not be considered bribery because it does not involve a foreign official C This would be considered bribery
3 .A private company requires at least how many subscribers?
A One B Two C None (
4 .The CFO of Lang Co wants to earn a higher return on the company’s cash holdings.Which of the following comparable maturity investments will earn Lang the highest expected return?
A Certficates of deposit B Treasury bills C Commercial paper D Bank deposits
5 .Which of the following securities has the least amount of default risk?
A Corporate bonds B Treasury bills C Commercial paper D Bills of exchange
7 .Which of the following statements about the Miller-Orr cash management model is/are true?(1) The greater the variability in cash flows, the greater is the spread between the upper and lower cash balance limits.(2) When short-term investments are liquidated the firm’s cash balance should return to the lower limit.
A 1 only B 2 only C Both 1 and 2 D Neither 1 nor 2
8 .A company uses the Baumol cash management model. Cash disbursements are constant at $20,000 each month. Short-term investments yield 5% a year, while cash held in the company’s bank account earns zero interest. Switching costs (that is, for each purchase or sale of short-term investments) are $30 for each transaction.What is the optimal amount (to the nearest $100) to be transferred in each transaction?
A $500 B $1,700 C $4,900 D $17,000
9 .Which is the following is an assumption of the Baumol model but not of the Miller-Orr model?
A Constant usage of cash B Holding cash incurrs an opportunity cost C Fixed commission for switching between cash and cash equivalents D Variability of cash flows
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