[기출문제] 중앙대 서울캠 재무관리 2024-2 기말 기출문제 (정답 포함)

중앙대 서울캠 재무관리 2024-2 기말 기출문제 (정답 포함)

 

 

 

 

1. 시험 정보

 

학교/과목	중앙대 서울캠/재무관리
시험명	2024-2 기말
교수명	-
문항수/형식	선택형 12문제
정답/해설	✅ 있음
파일형식	pdf

 

 

 

2. 출제 범위 & 키워드

 

재무관리·투자론 핵심 이론을 중심으로 CAPM 가정과 기대수익률 계산, WACC·IRR·NPV 등 자본예산 기법, 베타와 자본구조, 행동재무학 및 시장효율성 가설을 종합적으로 평가하는 문제.

 

 

📚 키워드

 

CAPM 가정, 기대수익률·베타, WACC 계산, IRR vs NPV, Payback Period, Bottom-up Beta, 레버리지 효과, 행동재무학, 시장효율성, 전환사채

 

3. 기출 미리보기

 

 

 

 

4. 자료 보기

 

[기출 문제] 

 

1. Which of the following assumptions is most essential in the CAPM model? a) Markets are inefficient b) Investors have identical expectations c) Investors do not diversify d) Risk-free rate varies across investors 2. If a firm's beta is 1.5, the risk-free rate is 3%, and the market return is 9%, what is the expected return on equity? a) 9% b) 10.5% c) 12% d) 13.5% 3. Which of the following impacts on the cost of equity but not the cost of debt directly? a) Risk-free rate b) Tax shield c) Equity risk premium d) Credit rating 4. A firm has a capital structure composed of 40% debt and 60% equity. If the cost of debt is 5%, the cost of equity is 10%, and the corporate tax rate is 30%, what is the WACC? a) 7.0% b) 7.8% c) 8.2% d) 8.5% 5. What is the limitation of the IRR method compared to NPV? a) Ignores time value of money b) Assumes constant discount rate c) Can provide multiple values for non-conventional projects d) Does not consider project scale 6. The beta of a project is determined by: a) The company's capital structure only b) The project's operating leverage only c) A combination of business risk and financial risk d) Only the firm's past returns 7. Which of the following correctly describes bottom-up beta estimation? a) It uses historical regression of a firm's returns b) It is based on peer companies' betas adjusted for leverage c) It ignores operating leverage d) It assumes all companies in a country have same risk 8. An investor is evaluating a project with initial cost €12,000 and annual cash inflows of €4,000 for 4 years. What is the payback period? a) 2.5 years b) 3 years c) 3.5 years d) 4 years 9. If a firm increases its debt-equity ratio, what happens to its equity beta, all else equal? a) It increases b) It decreases c) It remains unchanged d) It depends on interest rates 10. The study of behavioral finance has best helped explain which of the following investor behaviors? a) Investors are often unable to short-sell unfavorable stocks. b) Investors often create undiversified portfolios. c) Investors tend to sell their losing stocks and retain stocks that have capital gains. d) Investors are generally too slow to update their beliefs in the face of new evidence. 11. A corporate bond that can be exchanged for a fixed number of shares of stock is called a: a) callable bond b) debenture c) convertible bond d) warrant 12. Strong-form efficiency implies that mutual fund managers should: a) buy the index that maximizes diversification and minimizes the cost of managing portfolios. b) actively seek underperforming stocks and buy them. c) generally earn superior returns each year. d) attempt to earn superior returns by using technical analysis.

 

 

[정답]

 

1. b 2. c 3. с 4. a 5. c 6. c 7. b 8. d 9. a 10. d 11. c 12. a

 

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