VERCO.JSC CÔNG TY CỔ PHẦN TÁI CẤU TRÚC DOANH NGHIỆP VIỆT
Trụ sở : Tầng 1 tòa Sunrise Building 2, KĐT Sài Đồng, Long Biên, Hà Nội
Điện thoại: 0438.533 533 – Fax: 0436.525 808 – Web: verco.vn
Hà Nội, ngày…….tháng……..năm 2017
There are 13 questions in this test. Please do not forget
to fill in the correct test version number on the answer
sheet. Good luck.
1) Financial risk refers to the:
a. risk of owning equity securities.
b. risk faced by equityholders when debt is used.
c. general business risk of the firm.
d. possibility that interest rates will
2) The benefits of portfolio diversification are highest
when the individual securities have returns that are:
a. perfectly positively correlated.
b. perfectly negatively correlated.
c. perfectly uncorrelated.
d. less than perfectly correlated.
3) When financial disaster is looming, management may
borrow to invest in projects having a negative
expected NPV because:
a. the firm's beta is now negative.
b. taxes are no longer a concern.
c. the interest tax shield will cover the loan
d. the lender bears all the risk.
4) In general, equity is considered a __________
investment than debt, because payments on debt are
a. safer; lower
b. safer; less certain
c. riskier; guaranteed by the company
d. riskier; guaranteed by the federal
5) Which of the following statements is correct for a
project with a positive NPV?