시험패스에유효한CIMAPRA19-F03-1최신인증시험대비자료최신버전덤프샘플문제

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CIMA F3 시험을 볼려면, 후보자는 CIMA 운영 및 관리 수준을 완료하거나 동등한 자격증을 소지해야 합니다. 후보자는 금융 관리 또는 관련 분야에서 실무 경험을 갖는 것이 좋습니다. 이 시험은 컴퓨터 기반으로 CIMA 승인 시험 센터에서 전 세계적으로 볼 수 있습니다.

>> CIMAPRA19-F03-1최신 인증시험 대비자료 <<

최신 CIMA Strategic level CIMAPRA19-F03-1 무료샘플문제 (Q230-Q235):

질문 # 230
A company has announced a rights issue of 1 new share for every 4 existing shares.
Relevant data:
* The current market price per share is $10.00.
* Rights are to be issued at a 20% discount to the current price.
* The rate of return on the new funds raised is expected to be 10%.
* The rate of return on existing funds is 5%.
What is the yield-adjusted theoretical ex-rights price?
Give your answer to two decimal places.
$ ?

A. $11.20
B. 11.20, 11.21-for-4 rights at 20% discount:Issue price = 10×0.8=$810 \times 0.8 = \$810×0.8=$8.Take a
"block" of 4 old shares:Current value = 4×10=404 \times 10 = 404×10=40.New funds raised = 8 # invested at 10%.Current return on existing funds = 5%.Earnings on 4 old shares: 40×5%=240 \times
5\% = 240×5%=2.Earnings on new funds: 8×10%=0.88 \times 10\% = 0.88×10%=0.8.Total earnings after issue = 2.8 on 5 shares.EPS after issue = 2.8/5=0.562.8 / 5 = 0.562.8/5=0.56.Required return still
5%, so value of package: 2.8/0.05=562.8 / 0.05 = 562.8/0.05=56.Price per share = 56/5=11.256 / 5 =
11.256/5=11.2.Yield-adjusted TERP = $11.20

정답：A,B

질문 # 231
Company A needs to raise AS500 mi lion to invest in a new project and is considering using a pub ic issue of bonds to finance the investment.
Which THREE of the following statements-relating to this bond issue are true?

A. The largest issuer of bond i3 the government.
B. A company must be listed before it can issue bones.
C. Bonds issues in the corporate debt market are underwritten.
D. Purchasing bonds in the capital markets enables entities to borrow large amounts of finance.
E. The bond market is unregulated making it easier to raise finance

정답：A,B,D

질문 # 232
A company is considering either directly exporting its product to customers in a foreign country or setting up a subsidiary in the foreign country to manufacture and supply customers in that country.
Details of each alternative method of supplying the foreign market are as follows:

There is an import tax on product entering the foreign country of 10% of sales value.
This import duty is a tax-allowable deduction in the company's domestic country.
The exchange rate is A$1.00 = B$1.10
Which alternative yields the highest total profit after taxation?

A. Domestic: A$33,750
B. Foreign subsidiary: A$35,000
C. Foreign subsidiary: A$38,500
D. Domestic: A$41,250

정답：B

설명：
1. Sell from domestic market
Revenue = A$100,000
Costs (given) = A$45,000
Import duty = 10% of 100,000 = A$10,000 (tax-deductible)
Profit before tax = 100,000 # 45,000 # 10,000 = A$45,000
Tax at 25% = 0.25 × 45,000 = A$11,250
Profit after tax = 45,000 # 11,250 = A$33,750
2. Sell via foreign subsidiary
Revenue = B$104,500
Costs = B$49,500
Profit before tax = 104,500 # 49,500 = B$55,000
Tax at 30% = 0.30 × 55,000 = B$16,500
Profit after tax = 55,000 # 16,500 = B$38,500
Convert to A$ at A$1 = B$1.10:
A$ profit = 38,500 / 1.10 = A$35,000
Foreign subsidiary gives the higher after-tax profit.

질문 # 233
The table below shows the forecast for a company's next financial year:

The forecast incorporates the following assumptions:
* 25% of operating costs are variable
* Debt finance comprises a $400 million fixed rate loan at 5%
* Corporate income tax is paid at 25%
The company plans to do the following next year from the forecast earnings on the assumption that earnings will be equivalent to free cash flow:
* Pay a total dividend of $20 million
* Invest $40 million in new projects
What is the maximum % reduction in operating activity that could occur next year before the company's dividend and investment plans are affected?
Give your answer to the nearest 0.1%.

A. 4.8, 4.7, 4.9, 5.0, 4.6, 4.80, 4.70, 4.90, 5.00, 4.60%
B. 4.8, 4.7, 4.9, 5.0, 4.6, 4.80, 4.70, 4.90, 5.00, 3.60%

정답：A

질문 # 234
A company is financed by debt and equity and pays corporate income tax at 20%.
Its main objective is the maximisation of shareholder wealth.
It needs to raise $200 million to undertake a project with a positive NPV of $10 million.
The company is considering three options:
* A rights issue.
* A bond issue.
* A combination of both at the current debt to equity ratio.
Estimations of the market values of debt and equity both before and after the adoption of the project have been calculated, based upon Modigliani and Miller's capital theory with tax, and are shown below:

Under Modigliani and Miller's capital theory with tax, what is the increase in shareholder wealth?

A. $210 million if financed by equity
B. $160 million if financed by a mixture of debt and equity
C. $50 million if financed by debt
D. $10 million irrespective of finance

정답：C

질문 # 235
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2026 Fast2test 최신 CIMAPRA19-F03-1 PDF 버전 시험 문제집과 CIMAPRA19-F03-1 시험 문제 및 답변 무료 공유: https://drive.google.com/open?id=1RkV45A-g3cWEOvYO3Cy9_JBAz37kMA0j

시험패스에유효한CIMAPRA19-F03-1최신인증시험대비자료최신버전덤프샘플문제

최신 CIMAPRA19-F03-1최신 인증시험 대비자료 인증덤프공부

최신 CIMA Strategic level CIMAPRA19-F03-1 무료샘플문제 (Q230-Q235):