Đề Thi FE FIN202 - SP26 - B5 - FE

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SP2026

Thời Gian

28/4/26

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FE

FIN202 SP26 B5 FE 10H50

Câu 1: Callable bonds give the issuer the right to (Choose 1 answer) A. Convert the bond to equity B. Increase the coupon rate C. Repurchase the bond before maturity D. Delay coupon payments Đáp án: (C)

Câu 2: Which of the following statements is correct? (Choose 1 answer) A. Incremental net operating profits after-tax should include sunk costs associated with a project B. Incremental net operating profits after-tax should include the effects of financing costs associated with a project C. Incremental net operating profits after-tax should exclude the effects of depreciation costs associated with a project D. Incremental net operating profits after-tax should exclude the effects of financing costs associated with a project Đáp án: (D)

Câu 3: Which of the following is NOT a characteristic of a shareholder? (Choose 1 answer) A. Expects to receive dividends B. Expects to receive a capital gain on an investment C. Expects to receive interest D. Expects to have rights as defined in the corporation's charter and bylaws Đáp án: {C}

Câu 4: The internal rate of return is (Choose 1 answer) A. the discount rate that makes the NPV greater than zero B. the discount rate that makes the NPV equal to zero. C. the discount rate that makes the NPV less than zero D. Both A and C are correct. Đáp án: (B)

Câu 5: Contingent projects would imply that (Choose 1 answer) A. the acceptance of one project is dependent on the acceptance of the other B. the projects can be either mandatory or optional C. the acceptance of one project is dependent on the acceptance of the other, and the projects can be either mandatory or optional D. their cash flow are unrelated Đáp án: (C)

Câu 6: A company's current ratio is 2.0. Which of the following actions would lower the company's current ratio assuming everything else remains the same? (Choose 1 answer) A. Borrow using short-term notes payable and use all of the proceeds to reduce accruals. B. Borrow using short-term notes payable and use part of the proceeds to reduce long-term debt C. Use cash to reduce accruals D. Use cash to reduce accounts payable Đáp án: (B)

Câu 7: Jarodo Corp, is planning to fund a project by issuing 5-year zero coupon bonds with a face value of $1,000 Assuming semiannual compounding of interest, what will be the price of these bonds if the appropriate discount rate is 12 percerit? (Round your answer to the nearest dollar) (Choose 1 answer) A. $852 B. $258 C. $270 D. $508 Đáp án: {D}

Câu 8: Which of the following increases the present value of a future cash flow? (Choose 1 answer) A. Higher discount rate B. Longer time period C. Lower discount rate D. Greater number of compounding penods Đáp án: (C)

Câu 9: Natural Lite, Inc, reported the following items during fiscal 2022. The firm purchased marketable securities of $87,500, paid down a long-term loan in the amount of $650,000, purchased $4,250,000 of new equipment. The firm also issued $6,250,000 of common stock, paid $350,225 in dividends to its common shareholders, and repurchased $1,250,000 of common stock in the open market. What is the net cash provided by financing activities? (Choose 1 answer) A. $4,575,210 B. $1,733,285 C. $3,999,775 D. $2,467,915 Đáp án: (C)

Câu 10: Which of the following are the three simplifying assumptions that cover most stock growth patterns? (Choose 1 answer) A. Dividends remain constant over time, dividends grow at a constant rate, and dividends are not growing B. Dividends have a zero-growth rate, dividends grow at a varying rate, and dividends are not growing. C. Dividends remain constant over time, dividends grow at a constant rate, and dividends have a mixed growth pattern. D. Dividends have a zero-growth rate, dividends grow at a varying rate, and dividends are growing Đáp án: (C)

Câu 11: Foodelicious Corp. is evaluating whether it should take over the lease of an ethnic restaurant in Manhattan. The current owner had originally signed a 25-year lease, of which 16 years still remain. The restaurant has been growing steadily at the rate of 7 percent for the last several years. Foodelicious Corp expects the restaurant to continue to grow at the same rate for the remaining lease term. Last year, the restaurant brought in net cash flows of $310,000 If the firm evaluates similar investments using a 15 percent discount rate, what is the present value of this investment? (Round to the nearest dollar.) (Choose 1 answer) A. $2,966,350 B. $2,838,182 C. $3,109,460 D. $2,709,124 Đáp án: (B)

Câu 12: Your subscription to BusinessWeek is about to expire You plan to subscribe to the magazine for the rest of your life. You can renew it by paying $50 annually, beginning immediately, or you can get a lifetime subscription for $500, also payable immediately. Assuming that you can earn 6.525 percent on your funds and that the annual renewal rate will remain constant, how many years must you live to make the lifetime subscription the better buy? (Choose 1 answer) A. 12 B. 15 C. 10 D. 18 Đáp án: (B)

Câu 13: A lottery winner was given a perpetual payment of $25,362 starting next year. She could invest the cash flows at 7.5 percent annually. What is the present value of this perpetuity? (Round to the nearest dollar) (Choose 1 answer) A. $338,160 B. $390,215 C. $238,160 D. $201,356 Đáp án: {A}

Câu 14: When analysts and investors determine the value of a firm's stock, they should consider all of the following EXCEPT (Choose 1 answer) A. the size of the expected cash flows associated with owning the stock B. the timing of the cash flows. C. the riskiness of the cash flows. D. the way cash flows between a firm and its stakeholders Đáp án: (D)

Câu 15: Ottomany is considering an all-in-one retail center where the expected value of the NPV of the project has a distribution that yields a standard deviation of $25 million. Ottomony came to this conclusion by analyzing the individual input distributions for the project. This analysis is called: (Choose 1 answer) A. a sensitivity analysis B. a scenario analysis C. a simulation analysis. D. a horizontal analysis. Đáp án: (C)

Câu 16: Which of the following sections do annual reports typically contain? (Choose 1 answer) A. Financial summary related to the past year's performance B. Information about the company, its products, and its activities C. Audited financial statements, including limited historical financial data D. All three of these sections are included in the annual report Đáp án: {D}

Câu 17: Tre-Bien Bakeries generated net income of $233,412 this year. At year end, the company had accounts receivables of $47, 199, inventory of $63,781, and cash of $21,461 It also had accounts payables of $51,369, short-term notes payables of $11,417, and accrued taxes of $6, 145. The net working capital of the firm is (Choose 1 answer) A. $68,931 B. $63.510. C. $69,655 D. None of these are correct. Đáp án: (B)

Câu 18: Shawna Carter wants to invest her recent bonus in a four-year bond that pays a coupon of 11 percent semiannually. The bonds are selling at $962.13 today. If she buys this bond and holds it to maturity, what would be her yield? (Round to the closest answer) (Choose 1 answer) A. 11.5% B. 11.8% C. 12.5% D. 12.2% Đáp án: {D}

Câu 19: The true cost of borrowing is the (Choose 1 answer) A. annual percentage rate B. effective annual rate. C. quoted interest rate D. periodic rate. Đáp án: (B)

Câu 20: In continuous compounding, the formula for future value becomes: (Choose 1 answer) A. $FV=PV^{*}e^{*}(i^{*}n)$ B. $FV=PV^{*}(1+i)^{\circ}n$ C. $FV=PV^{*}(i^{*}n)$ D. $FV=PV/e^{-}(i^{*}n)$ Đáp án: (A)

Câu 21: Which of the following presents a summary of the changes in a firm's balance sheet from the beginning of an accounting period to the end of an accounting period? (Choose 1 answer) A. The statement of retained earnings B. The statement of working capital C. The statement of cash flows D. The statement of net worth Đáp án: (C)

Câu 22: Lloyd Harris is planning to invest $3,500 every year for the next six years in an investment paying 13 percent annually. What will be the total amount he will have at the end of the six years? (Round to the nearest dollar) (Choose 1 answer) A. $21,000 B. $29 129 C. $24,670 D. $26.124 Đáp án: (B)

Câu 23: In a broker market (Choose 1 answer) A. the commission charged by brokers is a higher cost to buyers and sellers than the cost of direct search. B. buyers and sellers are brought together generally without payment of a commission. C. brokers provide the greatest benefit when direct search costs are low D. brokers build a pool of price information through their extensive contacts Đáp án: D)

Câu 24: Fire Rock Wheel Corp is evaluating a project in which there is a 40 percent probability of revenues totaling $3 million and a 60 percent probability of revenues totaling $1 million per year. Its cash expenses will be $1.0 million while depreciation expense will be $200,000, then what is the expected free cash flow from taking the project if the marginal tax rate for the firm is 30 percent? (Choose 1 answer) A. $200.000 B. $420,000 C. $600,000 D. $620,000 Đáp án: (D)

Câu 25: Which of the following statements is correct? (Choose 1 answer) A. A time line is not meaningful unless all cash flows occur annually B. Time lines are useful for visualizing complex problems prior to doing actual calculations. C. Time lines cannot be constructed in situations when the cash flows occur at yearly and quarterly frequencies D. Time lines cannot be constructed for annuities where the payments occur at the beginning of the periods Đáp án: (B)

Câu 26: Which of the following is responsible for performing an independent audit of a firm's financial statements? (Choose 1 answer) A. CFO B. CEO C. CPA firm D. Audit committee Đáp án: (C)

Câu 27: Which of the following is NOT a cash flow from investing activities? (Choose 1 answer) A. Buying and selling bonds of other firms B. Buying or selling of land, buildings, and plant and equipment C. Cash payments of dividends to shareholders D. Buying and selling stocks of other firms Đáp án: (C)

Câu 28: Which of the following is NOT true of common-size balance sheets? (Choose 1 answer) A. Each asset and liability item on the balance sheet is standardized by dividing it by total assets B. Balance sheet accounts are represented as percentages of total assets. C. Each asset and liability item on the balance sheet is standardized by dividing it by sales. D. Common-size balance sheets allow us to make meaningful comparisons between the balance sheets of two firms that are different in size. Đáp án: (C)

Câu 29: Jamaica Corp. is adding a new assembly line at a cost of $8.5 million. The firm expects the project to generate cash flows of $2 million, $3 million, $4 million, and $5 million over the next four years. Its cost of capital is 16 percent. What is the net present value of this project? (Do not round intermediate computations. Round final answer to nearest dollar) (Choose 1 answer) A. $645 366 B. $1,213,909 C. $905,888 D. $777,713 Đáp án: {D}

Câu 30: Saunders, Inc., has a ROE of 18.7 percent, an equity multiplier of 2.53 times, sales of $2.75 million, and a total assets turnover of 2.7 times. What is the firm's net income? Round your final answer to two decimal places. (Choose 1 answer) A. $75.281 25 B. $514,250.00 C. $51,425.00 D. $7,528.10 Đáp án: (A)

Câu 31: Which of the following does NOT have a legal responsibility to represent stockholders' interests? (Choose 1 answer) A. The chairman of the board of directors B. The CEO C. The corporation's board of directors D. Employees Đáp án: {D}
Câu 32: Maddux, Inc., has completed its fiscal year and reported the following information. The company had current assets of $153,413, net fixed assets of $412,331, and other assets of $7,822. The firm also has current liabilities worth $65.314, long-term debt of $178,334, and common stock of $162,000 What is the amount of retained earnings? (Choose 1 answer) A. $405,648 B. $243,648 C. $167,918 D. $573,566 Đáp án: (C)

Câu 33: An individual analyzing a firm's financial statements should do all of the following except (Choose 1 answer) A. use unaudited financial statements. B. perform a trend analysis C. perform a benchmark analysis. D. compare the firm's performance to that of its direct competitors Đáp án: A)

Câu 34: Chartworth Associates' financial statements indicated that the company has EBITDA of $3,145,903 It had depreciation of $633,000, and its interest rate on debt of $1.25 million was 7.5 percent. The company is likely to owe $822,512 in taxes. What are the marginal and average tax rates for this company? (Choose 1 answer) (Bảng thuế suất trong câu hỏi) A. 34%, 35% B. 35%, 34% C. 34%, 34% D. none of these answers are correct Đáp án: (C)

Câu 35: Jacob Suppliers has not paid out any dividend in the last three years. It does not expect to pay dividends in the next two years either as it recovers from an economic slowdown. Three years from now it expects to pay a dividend of $2.50 and then $3.00 in the following two years. What is the present value of the dividends to be received over the next five years if the discount rate is 15 percent? (Do not round intermediate calculations. Round final answer to two decimal places.) (Choose 1 answer) A. $4.85 B. $5.37 C. $5.50 D. $6.14 Đáp án: (A)

Câu 36: Creighton, Inc, has invested $2,165,800 on equipment. The firm uses payback period criteria of not accepting any project that takes more than four years to recover costs. The company anticipates cash flows of $424,386, $512 178, $561,755, 5764,997, $816,500, and $825,375 over the next six years. What is the payback period, and does this investment meet the firm's payback criteria? (Round your answer to two decimal places.) (Choose 1 answer) A. 4. 13 years, no B. 4.13 years, yes C. 3.87 years, yes D. 3.87 years, no Đáp án: (C)

Câu 37: Sorenstam Corp has an equity multiplier of 2.34 times, total assets of $4,512,895, a ROE of 175 percent, and a total assets turnover of 3.1 times. Calculate the firm's ROA. Round your percentage answer to two decimal places (Choose 1 answer) A. 6.23% B. 4.53% C. 7.48% D. 5.79% Đáp án: (C)

Câu 38: Each quarter, Coso, Inc, pays a dividend on its perpetual preferred stock. Today, the stock is selling at $95. If the required rate of return for such stocks is 10 percent, what is the quarterly dividend paid by the firm? (Do not round intermediate calculations. Round final answer to two decimal places) (Choose 1 answer) A. $8.76 B. $10.50 C. $2:19 D. $2.38 Đáp án: (D)

Câu 39: Joseph Ray just received an inheritance of $50,000 from his great aunt. He plans to invest the funds for retirement. If Joseph can earn 6 percent per year with quarterly compounding for 30 years, how much will he have accumulated? (Round to the nearest dollar) (Choose 1 answer) A. $298,466 B. $271,550 C. $284,622 D. $260,113 Đáp án: {A}

Câu 40: Tigger Corp has reported the financial results for the year. Based on the information given, calculate the firm's gross profit margin and operating profit margin. Round your final answers to one decimal place: Net sales $4,156.700; Net income = $778,321; Cost of goods sold = $2,715,334; EBIT = $1,356,098 (Choose 1 answer) A. 34.7%, 32.6%, respectively B. 32.6%, 18.7%, respectively C. 34.7%, 18 7%, respectively D. 32.6% 34.7%, respectively Đáp án: (A)

Câu 41: According to bond theorems, for a given change in interest rates, which band type experiences the largest price fluctuation? (Choose 1 answer) A. Long-term, low-coupon bonds B. High-coupon bonds C. Short-term bonds D. Long-term, high-coupon bonds Đáp án: (A)

Câu 42: Gateway Corp has an inventory turnover ratio of 56 What is its days' sales in inventory? Round your final answer to nearest day (Choose 1 answer) A. 65 days B. 64 days C. 61 days D. 57 days Đáp án: {A}

Câu 43: What is the primary market for corporate bonds? (Choose 1 answer) A. Stock markets B. OTC market C. Commodity exchanges D. Derivatives market Đáp án: {B}

Câu 44: Anna will receive $15,000 from a bank deposit in 2 years which earned an annual interest rate of 3.5 percent. The amount of $15,000 represents the (Choose 1 answer) A. present value of an annuity. B. future value of an annuity. C. present value. D. future value. Đáp án: (D)

Câu 45: Which of the following business organizational forms subject(s) the owner(s) to unlimited liability? (Choose 1 answer) A. Sole proprietorship B. General partnership C. Corporation D. Both A and B Đáp án: {D}

Câu 46: The Brick Company has announced the following financial information for the period ending March 31, 2022 sales of $1.4 million, cost of goods sold of $800,000, depreciation expenses of $175,000, and interest expenses of $90,000, Assume that the firm has an average tax rate of 40 percent. What is the company's net income? (Choose 1 answer) A. $204,000 B. $201,000 C. $203,000 D. $220,000 Đáp án: (B)

Câu 47: Which of the following is the best example of how a market-value balance sheet item differs from the firm's book-value balance sheet item? (Choose 1 answer) A. A firm issued long-term bonds five-years ago that currently sell for par value B. A firm sold common stock twenty-years ago for $20.00 a share. The firm's common stock is currently selling for $96.50 per share C. A firm has $5 million of accrued liabilities on the books. D. A firm issued preferred stock ten-years ago. These shares of preferred stock currently are selling for par value Đáp án: (B)
Câu 48: A firm is considering taking a project that will produce $12 million of revenue per year Cash expenses will be $5 million, and depreciation expenses will be $1 million per year. The project would also reduce the cash revenues of an existing project by $2 million. What is the free cash flow on the project, per year, if the firm is in the 40 percent marginal tax rate? (Choose 1 answer) A. $2.4 million B. $3.4 million C. $46 million D. $5.0 million Đáp án: (B)
Câu 49: Your firm is evaluating the ments of several different machines. Machine A has a useful life of 5 years, generates an NPV of $53.250, an IRR of 13.6 percent and an equivalent annual cost of $10.316. Machine B has a useful life of 3 years, an NPV of $61,051, an IRR of 12.5 percent, and an equivalent annual cost of $9,724 Machine C has a useful life of 4 years, generates an NPV of $55,225, an IRR of 15.2 percent and an equivalent annual cost of $7,535 Machine D has a useful life of 7 years, generates an NPV of $64,020, an IRR of 11 4 percent and an equivalent annual cost of $8,885 Which machine should be purchased and why? (Choose 1 answer) A. Machine C, because it has the highest IRR B. Machine D, because it has the highest NPV C. Machine A, because it has the most positive EAC D. Machine B, because it has the shortest useful life Đáp án: (C)
Câu 50: What is the price calculation for a bond with semiannual compounding? (Choose 1 answer) A. Same as annual compounding B. The coupon rate is divided by two, and the yield is adjusted accordingly C. The face value is divided by two D. The price is calculated based on the annual yield only Đáp án: (B)