F3최고품질덤프데모 & F3인기덤프

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IT업계에 계속 종사할 의향이 있는 분들께 있어서 국제공인 자격증 몇개를 취득하는건 반드시 해야하는 선택이 아닌가 싶습니다. CIMA F3 시험은 국제공인 자격증시험의 인기과목으로서 많은 분들이 저희CIMA F3덤프를 구매하여 시험을 패스하여 자격증 취득에 성공하셨습니다. CIMA F3 시험의 모든 문제를 커버하고 있는 고품질CIMA F3덤프를 믿고 자격증 취득에 고고싱~!

CIMA F3 Exam Syllabus Topics:

Section	Objectives
Topic 1: Sources of Long-Term Finance	- Equity and debt financing - Hybrid financial instruments
Topic 2: Dividend Policy	- Dividend theories - Dividend decisions and shareholder value
Topic 3: Mergers, Acquisitions and Corporate Restructuring	- Synergies and takeover strategies - Valuation principles
Topic 4: Financial Strategy Formulation	- Corporate financial planning - Strategic financial objectives
Topic 5: Financial Risk Management	- Interest rate risk - Foreign exchange risk

>> F3최고품질 덤프데모 <<

최신 CIMA Strategic level F3 무료샘플문제 (Q288-Q293):

질문 # 288
An unlisted software development company has recently reported disappointing results. This was partly due to weak economic conditions but also because of its poor competitive position. The company has a number of exciting development opportunities which would enable it to achieve significant future growth. The company's growth potential has been hindered by its inability to secure sufficient new finance.
To enable the company raise new finance the Directors are considering working forwards an IPO in 10 years and accepting finance from a venture capitalist in order support in the intervening period.
The directors are keen to retain a controlling stake in the company and full representation on the board. They therefore require venture capitalists to provide funds as a mix of debt and equity and not soley equity finance.
Which THREE of the following are most likely to disrupt the directors' plans to use venture capital finance?

A. The venture capital finance offered is much more expensive than expected.
B. Venture capitalists only provide equity finance and will therefore not be interested in providing a combination of debt and equity finance.
C. Venture capitalists normally expect at least one seat on the board.
D. Venture capitalists always require ownership of more than 50% of the shares in a company to ensure control.
E. Venture capitalists normally expect an exit strategy sconer than the planned IPO in 10 years'time.

정답：A,C,E

설명：
A: VCs typically want at least one board seat - conflicts with directors wanting full board control.
B: VCs mainly provide equity-type finance; reluctance to provide a debt-equity mix would disrupt the plan.
D: VCs normally expect an exit in around 3-7 years, much earlier than an IPO in 10 years.
(C) high cost is possible but not a defining structural conflict, and (E) "always >50% ownership" is not generally true.

질문 # 289
An aerospace company is planning to diversify into car manufacturing.
Relevant data:

What is the the cost of equity to be used in the WACC for the project appraisal?
Give your answer in percentage, as a whole number.

A. 19%
B. 19%Use the project's business risk (car industry asset beta):Asset beta for car manufacturing = 1.19.Re- gear this beta to reflect the financing (gearing) of the aerospace companyDebt-to-equity ratio = 20:80 # D/E=0.25D/E = 0.25D/E=0.25Tax rate = 30%Re-geared equity beta:#e=#a[1+(1#T)DE]=1.19[1+0.7×0.
25]=1.19×1.175#1.40\beta_e = \beta_a \big[1 + (1 - T)\frac{D}{E}\big] = 1.19 \big[1 + 0.7 \times 0.25
\big] = 1.19 \times 1.175 \approx 1.40#e=#a[1+(1#T)ED]=1.19[1+0.7×0.25]=1.19×1.175#1.40 Apply CAPM to get the cost of equity:Risk-free rate = 5%Market risk premium = 10% ke=Rf+#e×Market Premium=5%+1.40×10%=5%+14%=19%k_e = R_f + \beta_e \times \text{Market Premium} = 5\% + 1.40 \times 10\% = 5\% + 14\% = 19\%ke=Rf+#e×Market Premium=5%+1.40×10%
=5%+14%=19%

정답：A,B

질문 # 290
A company wishes to raise new finance using a rights issue to invest in a new project offering an IRR of 10% The following data applies:
* There are currently 1 million shares in issue at a current market value of $4 each.
* The terms of the rights issue will be $3.50 for 1 new share for 5 existing shares.
* The company's WACC is currently 8%.
What is the yield-adjusted theoretical ex-rights price (TERP)?
Give your answer to 2 decimal places.
$ ?

정답：

설명：
4.06, 4.060

질문 # 291
Company C has received an unwelcome takeover bid from Company P.
Company P is approximately twice the size of Company C based on market capitalisation.
Although the two companies have some common business interests, the main aim of the bid is diversification for Company P.
The offer from Company P is a share exchange of 2 shares in Company P for 3 shares in Company C.
There is a cash alternative of $5.50 for each Company C share.
Company C has substantial cash balances which the directors were planning to use to fund an acquisition.
These plans have not been announced to the market.
The following share price information is relevant. All prices are in $.

Which of the following would be the most appropriate action by Company C's directors following receipt of this hostile bid?

A. Refer the bid to the country's competition authorities.
B. Pay a one-off special dividend.
C. Write to shareholders explaining fully why the company's share price is under valued.
D. Change the Articles of Association to increase the percentage of shareholder votes required to approve a takeover.

정답：C

질문 # 292
Company U has made a bid for the entire share capital of Company B.
Company U is offering the shareholders in Company B the option of either a share exchange or a cash alternative.
Advise the shareholders in Company B which THREE of the following would be considered disadvantages of accepting the cash consideration?

A. There will be no opportunity to participate in the future economic success of Company U.
B. Interest rates on deposit accounts are currently at a historic low and are expected to remain low.
C. Cash consideration is certain whereas Company U's future share price performance is uncertain.
D. Taxation is payable on realised capital gains.
E. Company U is not expected to change its dividend policy post-acquisition.

정답：A,B,D

설명：
B). Low deposit interest rates - cash received will likely earn poor returns compared with equity.
D). Taxation on realised capital gains - cash offer crystallises a disposal now, potentially triggering CGT.
E). No opportunity to participate in Company U's future success - once they take cash, they no longer share in upside from post-acquisition performance.
Option A is actually an advantage of cash (certainty), and C relates to the dividend policy if they take shares, not a disadvantage of cash itself.

질문 # 293
......

IT업계에서 자신만의 위치를 찾으려면 자격증을 많이 취득하는것이 큰 도움이 될것입니다. CIMA 인증 F3시험은 아주 유용한 시험입니다. CIMA 인증F3시험출제경향을 퍼펙트하게 연구하여PassTIP에서는CIMA 인증F3시험대비덤프를 출시하였습니다. PassTIP에서 제공해드리는CIMA 인증F3시험덤프는 시장에서 판매하고 있는CIMA 인증F3덤프중 가장 최신버전덤프로서 덤프에 있는 문제만 공부하시면 시험통과가 쉬워집니다.

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F3최고품질덤프데모 & F3인기덤프

CIMA F3 Exam Syllabus Topics:

최신버전 F3최고품질 덤프데모 인기덤프

최신 CIMA Strategic level F3 무료샘플문제 (Q288-Q293):