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🏆 BẢNG VÀNG TOP 5 ĐIỂM TỐT NHẤT
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Câu 1: The 'Internal Rate of Return' (IRR) is defined as the discount rate that makes:
- - The NPV of an investment equal to zero
- - The profitability index equal to zero
- - The payback period exactly one year
- - The future value of all cash flows equal to the initial cost
Câu 2: The 'Bird-in-the-Hand' theory suggests that investors prefer:
- - Capital gains over current dividends
- - Current dividends over future capital gains
- - Stock buybacks over cash dividends
- - High growth companies that pay no dividends
Câu 3: When calculating the project's incremental cash flows, which of the following should be EXCLUDED?
- - Opportunity costs
- - Side effects or erosion
- - Sunk costs
- - Changes in net working capital
Câu 4: If a firm uses more debt in its capital structure (financial leverage), what is the most likely effect on the expected Return on Equity (ROE) and the risk to shareholders?
- - ROE increases and risk decreases
- - ROE decreases and risk increases
- - Both ROE and risk increase
- - Both ROE and risk decrease
Câu 5: What does the term '2/10, net 30' mean in credit policy?
- - A 10% discount if paid within 2 days, otherwise full payment in 30 days
- - A 2% discount if paid within 10 days, otherwise full payment in 30 days
- - Two payments of 10% each, with the balance due in 30 days
- - A 2% penalty if payment is not made within 10 days
Câu 6: What is the primary goal of financial management in a corporation according to standard financial theory?
- - Maximize total revenue
- - Maximize the current value per share of existing stock
- - Minimize total operational costs
- - Maximize the net profit for the current year
Câu 7: Under the Internal Rate of Return (IRR) rule, a project should be accepted if its IRR is:
- - Greater than the required rate of return
- - Less than the required rate of return
- - Equal to the profitability index
- - Positive
Câu 8: The primary goal of the Economic Order Quantity (EOQ) model is to minimize the sum of:
- - Purchase costs and shipping costs
- - Ordering costs and carrying costs
- - Fixed costs and variable costs
- - Sales costs and production costs
Câu 9: The Pecking Order Theory of finance suggests that firms prefer to finance their operations in which specific order?
- - New equity, then debt, then internal funds
- - Internal funds, then debt, then new equity
- - Debt, then new equity, then internal funds
- - Internal funds, then new equity, then debt
Câu 10: The 'bird-in-the-hand' theory of dividends suggests that investors:
- - Prefer capital gains over dividends
- - Are indifferent between dividends and capital gains
- - Prefer high dividend payouts because they are less risky than future capital gains
- - Prefer companies with high growth and no dividends
Câu 11: A firm has a Current Ratio of 2.0 and a Quick Ratio of 0.8. What does this gap most likely indicate?
- - The firm has a high level of cash and equivalents
- - The firm has a significant portion of current assets tied up in inventory
- - The firm is highly efficient in collecting accounts receivable
- - The firm has very low levels of short-term debt
Câu 12: A firm has current assets of $500,000 and current liabilities of $200,000. What is its current ratio?
- - 0.40
- - 2.50
- - 1.50
- - 3.00
Câu 13: What is the cost of equity for a firm with a beta of 1.2, a risk-free rate of 4%, and an expected market return of 10%, using the CAPM?
- - 11.2%
- - 12.0%
- - 16.0%
- - 14.8%
Câu 14: Comparing an ordinary annuity and an annuity due with the same payments, interest rate, and time period, which statement is true?
- - The present value of the annuity due is higher
- - The present value of the ordinary annuity is higher
- - Both have the same present value
- - The future value of the ordinary annuity is higher
Câu 15: Which of the following statistical measures is used to represent the total risk (both systematic and unsystematic) of an investment?
- - Alpha
- - Expected return
- - Beta
- - Standard deviation
Câu 16: Which form of market efficiency states that current stock prices reflect all publicly available information, including financial statements and economic data?
- - Weak-form efficiency
- - Semi-strong form efficiency
- - Strong-form efficiency
- - Inefficient market form
Câu 17: The 'Capital Asset Pricing Model' (CAPM) shows that the expected return for a particular asset depends on:
- - The asset's standard deviation
- - The asset's total risk
- - The time value of money and the reward for bearing systematic risk
- - The asset's historical average return over the last decade
Câu 18: According to the 'Pecking Order Theory', firms prefer to finance their projects in which order?
- - External equity, then debt, then internal funds
- - Debt, then external equity, then internal funds
- - Internal funds, then debt, then external equity
- - Internal funds, then external equity, then debt
Câu 19: Which financial statement provides a snapshot of a firm's financial position at a specific point in time?
- - Income Statement
- - Statement of Cash Flows
- - Balance Sheet
- - Retained Earnings Statement
Câu 20: Which liquidity ratio excludes inventory because it is often the least liquid current asset?
- - Current ratio
- - Quick ratio (Acid-test ratio)
- - Debt ratio
- - Inventory turnover ratio
Câu 21: In the Du Pont Analysis, which three ratios are multiplied to calculate the Return on Equity (ROE)?
- - Net Profit Margin, Total Asset Turnover, and Equity Multiplier
- - Gross Profit Margin, Inventory Turnover, and Debt Ratio
- - Operating Margin, Current Ratio, and Return on Assets
- - Net Profit Margin, Fixed Asset Turnover, and Debt-to-Equity Ratio
Câu 22: A project has an initial investment of 50,000 and is expected to generate a single cash flow of 60,000 in one year. If the required return is 10%, what is the Profitability Index (PI)?
- - 1.09
- - 1.20
- - 0.91
- - 1.10
Câu 23: In the Du Pont analysis, the Return on Equity (ROE) is broken down into which three components?
- - Net Profit Margin, Total Asset Turnover, and Equity Multiplier
- - Gross Margin, Inventory Turnover, and Debt Ratio
- - Operating Margin, Current Ratio, and Dividend Yield
- - Net Profit Margin, Quick Ratio, and Interest Coverage
Câu 24: Which of the following best describes 'Free Cash Flow to the Firm' (FCFF)?
- - Cash flow available for distribution to common stockholders only
- - Total revenue minus all operating expenses and taxes
- - Cash flow available to all capital providers, including both debt and equity holders
- - The amount of cash a firm has in its bank account at year-end
Câu 25: In the context of the Capital Asset Pricing Model (CAPM), what does 'Beta' measure?
- - The total risk of an individual security
- - The unsystematic risk that can be diversified away
- - The systematic risk of a security relative to the market portfolio
- - The historical standard deviation of the stock returns