piginaust

for a research report,factual information can be disclosed to target for verification. So i don't think the answer is "all of the report". btw, what is the difference between "any part of" and "all"?

早上的alternative investment, 暈過去. market extraction 需要sale price + NOI,同意?但我錯了.
capitalisation rate that takes into capital structure is band-in-什麼 method.

早上的卷,暫時知道已錯3條.

下午的卷,是比較難的.

current account balance 是3.9.

Residual income 那 一條,要自己去找interest expense 出來,才計的出來.另外,statement 1 寫residual income accounts for different firm's cost of capital and Statement 4 寫ROE = required return of equity, RI = ROE x invested capital.

For me, both are wrong, but i choose number 4. because ROE = Re, RI should be 0. 大家怎樣想?

還有 一條,如果剛買了 一個bond, in a short term, which risk is most significant (好像是這樣).選什麼cap risk, default risk, credit spread, downgrade risk.什麼怪題目.我選credit spread.

有連續好幾個B.是在題目90附近,忘了.

大家還記得什麼題目,討論一下.

piginaust

我有做過一條題目,是說inflation的.

題目答案說,revenue在high inflation environment,需要用每個月/季的index來計算.不可以用annual.但Depreciation可以.

RI那條,ROE同RI一樣,需要減去Interest 和after tax 再divided by book value.

我還沒搞清楚"all of" 和"any part of"有什麼分別. All of the report 不等於full report. Full report當然不可以disclose.

cannot disclose all of the report 和any part of the report. The effect is the same. 我覺得題目本身有問題,除非改成whole/full report.

另外那一條downgrade, default, 和 credit spread. 問題的關鍵在於short term. downgrade 和default不會是short term 吧. 只有credit spread 是. 所以我選了credit spread.而且credit spread 是一個general economy 對credit risk的看法,不一定是公司本身所影響.那個公司很positive,it is unlikely to be affected by downgrade or default.