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student help-book for commerce aspirants
CMA Final Level
You have finally made it to the last step of your CMA Journey. Along with the excitement of making it to the last level, CMA Final comes with its own set of difficulties and pressure. Finding the right teachers, notes, jobs is still a struggle. Don't worry, we have an answer for all your doubts.
Select the best teacher
Sanjay Saraf Educational
Institute
Phone no.: 8100300400
Mail id: info@ssei.co.in
Website: https://www.ssei.co.in
Gold package - Rs. 24000
Platinum package - Rs. 28000
Fintree
Utkarsh Jain
Phone no.: 8888077722
Mail id: admin@fintreeindia.com
Website: https://www.fintreeindia.com/about-us/
24000-48000
(depending on the attempt one chooses and type of subscription - online premium/online premium +/platinum)
IFT
Arif Irfanullah
Phone no.: +92 311 0222376
Website: https://ift.world/contact-us/
$150 (Basic), $275 (Basic plus), $525 ( Premium)
Sudarshan Agarwal classes
Phone no.: 9903353333
Website: https://newd2h.sudarshanagrawalclasses.com/Home/Courses
Rs. 16000
Study using Youtube Videos
Test your preparation
QUESTION 1
The following information is available for a manufacturing company:
• Cost of ending inventory computed using FIFO $4.3m
• Net realizable value $4.1m
• Current replacement cost $3.8m
If the company is using International Financial Reporting Standards (IFRS) instead of US GAAP, its cost of goods sold (in millions) is most likely:
A. $0.3 higher. B. $0.3 lower. C. the same.
QUESTION 2
An investor gathers the following data.
2014--> Earnings per share: $3.20; Dividends per share: $1.92; ROE: 12%
2013--> Earnings per share: $3.60; Dividends per share: $1.80; ROE: 17%
2012--> Earnings per share: $2.44; Dividends per share: $1.71; ROE: 13%
2011--> Earnings per share: $2.50; Dividends per share: $1.60; ROE: 15%
To estimate the stock’s justified forward P/E, the investor prefers to use the compounded annual earnings growth and the average of the payout ratios over the relevant period (i.e., 2011–2014). If the investor uses 11.5% as her required rate of return, the stock’s justified forward P/E is closest to:
A. 21. B. 10. C. 12.
QUESTION 3
The following table provides information about a portfolio of three bonds:
Bond 1--> Maturity: 17-year; Price: $109.2461; Par amount: $16m; Duration: 8.56
Bond 2--> Maturity: 20-year; Price: $100.4732; Par amount: $4m; Duration: 9.19
Bond 3--> Maturity: 25-year; Price: $84.6427; Par amount: $8m; Duration: 11.48
Based on this information, the duration of the portfolio is closest to:
A. 9.48. B. 9.35. C. 9.74.
QUESTION 4
When valuing a call option using the binomial model, an increase in the probability that the underlying will go up most likely implies that the current price of the call option:
A. increases. B. remains unchanged. C. decreases.
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