Which of the following measures business risk?
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1 .The risk-free rate of return is 3% and the market premium is 6.5%. A firm’s equity beta is 1.15 and asset beta 0.85.What will the firm’s cost of equity be if it redeems all outstanding debt?
A 7.0% B 10.5% C 8.5% D 6.0%
2 .A firm’s equity beta is 1.10 and its asset beta is 0.85. The market premium is 4.50% and the risk-free rate 3%What is the firm’s cost of equity geared?
A 7.95% B 4.65% C 6.83% D 4.28%
3 .What type of risk cannot be eliminated through diversification?
A Business risk B Unsystematic risk C Financial risk D Systematic risk
4 .The risk-free rate of return is 6% and the required return on a security with a beta factor of 1·2 is 15·6%.What is the required annual rate of return on the market portfolio?
A 11·52% B 13·00% C 14·00% D 17·52%
5 .The beta of company X’s shares is 1·6, the risk free rate is 5% and the required return on company X’s shares is 16·2%. Company Y is quoted in the same stock market, but its shares have a beta of 1·4.What is the required rate of return on company Y’s shares?
A 12·0% B 13·0% C 13·2% D 14·8%
7 .Which of the following are assumptions of the capital asset pricing model?(1) Linear relationship between risk and required return(2) Constant dividend growth rate(3) Perfect capital markets
A 2 only B 1 and 3 C 1, 2 and 3 D 2 and 3
8 .Which of the following would increase the net working capital of a firm?
A Cash collection of accounts receivable B Refinancing of accounts payable with a two-year bank loan C Payment to suppliers D Payment of a dividend
9 .During the year, Mason Co’s current assets increased by $120,000 and current liabilitiesdecreased by $50,000.What was the effect on net working capital?
A Increased by $70,000 B Decreased by $170,000 C Increased by $170,000 D Decreased by $70,000
10 .Which of the following indicates that a company is becoming more conservative in its working capital funding policy?
A Increase in the ratio of current liabilities to non-current liabilities B Decrease in the operating cycle C Decrease in the current ratio D Increase in the ratio of long-term finance to current liabilities
