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Within a year, we provide free updates. Please pay more attention to our website.NO.1 Convertible securities consist of preferred stock anD.
A. common stock.
B. bonds.
C. treasury stock.
D. tracking stock.
Answer: B
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NO.2 If a company has $126 million in debt at an average cost of 7% and $234 million in equity at a
cost of 11%, what is its weighted average cost of capital, assuming a marginal tax rate of 35% and a
risk-adjusted rate of 13%?
A. 10.0%
B. 10.9%
C. 9.6%
D. 8.7%
Answer: D
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NO.3 Company RST is a seasonal retailer who has just completed its holiday season and is
temporarily flush with cash. The treasurer has identified approximately $15 million of excess balances
and is trying to determine what to do with the surplus cash. Cash forecasts show that the funds will
be needed in approximately 30 days to replenish inventory. Which of the following plans should the
treasurer implement immediately?
A. Leave the funds in RST's bank account earning an ECR of 1%.
B. Buy a long-term, highly rated investment paying 2.10%.
C. Prepay a $15 million, 5% loan maturing in 1 year.
D. Purchase low-risk, short-term investments yielding 2%.
Answer: D
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NO.4 An art history museum has recently finished renovating its new location. Before the move, the
treasurer considers purchasing additional insurance to protect the art during transit. What form of
additional insurance should the treasurer choose?
A. Business interruption
B. Special multi-peril (SMP)
C. Difference in conditions (DIC)
D. General liability
Answer: C
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