IMA CMA Part 2: Strategic Financial Management 認定 CMA-Strategic-Financial-Management 試験問題:
1. Discuss whether QDD stock provided a return that was Better, worse, or the same as its investors would have expected using CAPM snow your calculations Essay Quality Digital Design (QDD) Inc is a public-traded technology company Selected financial data of QDD for the prior year are as follows
QDD's stock was trading at $160 per share at the beginning of the yea: and at $176 per share by the end of the year. The company paid dividends of S5 per share. The company "s stock had a beta of 1 4 The stock market provided a total return of 12% last year, well above the 3% risk free rate of return QDD is considering the issuance of $200 million of bonds to fund the repurchase of $200 million of its stock.
QDD is evaluating the bond, including its term structure, maturity, and whether it should be callable obtaining the lowest coupon interest is an important objective of QDD. The CFO has estimated that sales for the current year would remain the same as last year and the new bond would add S12 million in annual interest payments
2. Genco Healthcare has asked ns controller to summarize the company's financial performance for the past two years. The accountant provided the following two years financial ratios for reference.
A) Less liquid mote profitable more solvent
B) More liquid, less profitable mote solvent
C) More Liquid Less profitable less solvent
D) Less liquid mote profitable less solvent
3. Calculate AMI's degree of operating leverage. Show your calculations.
Essay
Apex Manufacturing lnc. (AMI) is a Canada-based company that manufactures a manufactures and unique part for aircrafts. It has few competitors in the market. The company is exposed to exchange rate risk because about 90% of its products are exported to the U.S, and most of its sales contracts are in U.S. dollars. AMI has the capacity to manufacture 1,500 units of the part per year. For the year just ended. AMI manufactured and sold 1,000 units. The operating results are shown below.
Recently, A new customer made a one-area order of 500 units of the part at $1.200 per unit. The CTO asked the controller to analyze this offer. AMI is considering adjusting its sales price next year in a recent meeting, the CFO suggested to use the market-based approach for pricing decisions, bat the controller insisted that the cost-based approach is more favorable to the company.
4. if a company increases the price of its product from $3010 $35, demand would decrease from 30, 000 units to
20.000 units. What is the price elasticity of demand for the company using the midpoint formula?
A) 0.5
B) 2.0
C) 2.7
D) 0.4
5. A company with idle capacity has been contacted by a new customer to supply 10,000 units of its products for a special batch order its costs are as follows.
The company's normal soling price is SI00 per unit but the customer is wiling to pay only S70 pet unit Should the company accept the special order''
A) Yes, because the special order will increase operating profit by S100 000
B) No, because the special order will reduce operating profit by S50 000
C) Yes, because the special order will increase operating profit by S250 000
D) No, because the special order will reduce operating profit by $250 000
質問と回答：
| 質問 # 1 正解： メンバーにのみ表示されます | 質問 # 2 正解： D | 質問 # 3 正解： メンバーにのみ表示されます | 質問 # 4 正解： C | 質問 # 5 正解： B |
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