DumpTOP는 다른 회사들이 이루지 못한 DumpTOP만의 매우 특별한 이점을 가지고 있습니다.DumpTOP의WGU Financial-Management덤프는 전문적인 엔지니어들의WGU Financial-Management시험을 분석이후에 선택이 된 문제들이고 적지만 매우 가치 있는 질문과 답변들로 되어있는 학습가이드입니다.고객들은 단지 DumpTOP에서 제공해드리는WGU Financial-Management덤프의 질문과 답변들을 이해하고 마스터하면 첫 시험에서 고득점으로 합격을 할 것입니다.
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Capital Structure and Financing | 10% | - Dividend policy and payout decisions - Leverage and cost of capital |
| Topic 2: Risk and Return | 12% | - Beta and Capital Asset Pricing Model - Portfolio risk and diversification - Systematic vs unsystematic risk |
| Topic 3: Time Value of Money | 18% | - Present value, future value, annuities, perpetuities - Discounted cash flow valuation - Effective vs nominal interest rates |
| Topic 4: Financial Markets and Corporate Objectives | 15% | - Types of financial markets and instruments - Goal of the firm: shareholder wealth maximization - Role of financial institutions |
| Topic 5: Capital Budgeting | 10% | - Cash flow estimation and project evaluation - NPV, IRR, payback period, profitability index |
| Topic 6: Valuation of Securities | 15% | - Cost of capital components - Stock valuation: dividend growth model, CAPM - Bond valuation, yield to maturity, risk characteristics |
| Topic 7: Financial Statement Analysis | 20% | - Common-size and trend analysis - Income statement, balance sheet, cash flow statement - Ratio analysis: liquidity, profitability, solvency, efficiency |
>> Financial-Management시험응시 <<
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질문 # 18
Why would a company choose to maintain a certain level of cash as a reserve balance?
정답：D
설명：
Maintaining a cash reserve is a core element of prudent working capital management. Firms hold cash to meet transaction needs, precautionary needs, and sometimes speculative opportunities. The precautionary motive is particularly important, as it allows firms to handle unexpected expenses, revenue shortfalls, or economic disruptions without relying on costly external financing. Adequate liquidity reduces the risk of financial distress and enhances operational flexibility. Financial management theory emphasizes balancing the opportunity cost of holding cash against the benefits of liquidity. Option C accurately reflects this precautionary and liquidity-focused rationale.
질문 # 19
What is a primary benefit of maintaining inventory?
정답：B
설명：
A primary benefit of maintaining inventory is that it allows a company to meet customer demand promptly and consistently. Inventory ensures that goods are available when customers want them, which supports sales, customer satisfaction, and competitive performance. Without adequate inventory, firms face stockouts that may lead to lost sales, damaged customer relationships, and reduced market share. Financial management recognizes that although inventory carries costs such as storage, insurance, obsolescence, and tied-up capital, it also provides important operational and strategic benefits. Choice D is correct because inventory exists largely to support uninterrupted operations and customer service. Choice A is incorrect because increasing the cash conversion cycle is generally a cost, not a benefit. Choice B is incorrect because simply holding inventory does not automatically decrease cost of goods sold. Choice C is also incorrect because maintaining inventory usually increases, rather than reduces, storage costs. Therefore, D is the correct answer because the main reason firms hold inventory is to ensure product availability and fulfill customer demand in a timely manner while supporting stable operations.
질문 # 20
In the capital asset pricing model (CAPM), what does a beta (#) greater than 1 signify for a portfolio?
정답：D
설명：
Within the CAPM framework, beta quantifies the degree of systematic risk relative to the market portfolio, which by definition has a beta of 1. A portfolio with a beta greater than 1 carries more systematic risk than the market, meaning its returns are expected to be more sensitive to market movements. This higher sensitivity increases both upside potential and downside exposure. According to CAPM, investors require a higher expected return for bearing this additional risk. Importantly, a higher beta does not guarantee superior performance; it simply reflects greater volatility relative to the market. Option B accurately captures this risk-based interpretation.
질문 # 21
Why might investors choose to invest in junk bonds?
정답：B
설명：
Junk bonds, also known as high-yield bonds, are issued by firms with lower credit ratings and therefore higher default risk. To compensate investors for this additional risk, these bonds offer higher interest rates than investment-grade bonds. From a financial management and portfolio perspective, investors may include junk bonds to enhance portfolio returns, particularly when they believe default risk is overstated or when economic conditions are favorable. Junk bonds do not guarantee returns and are not backed by government guarantees, making options A and D incorrect. They also do not consistently outperform equities, especially during periods of financial stress. Option B accurately reflects the risk- return tradeoff that underpins investment decisions in capital market theory: higher expected returns are associated with higher risk.
질문 # 22
A company is expected to pay a dividend of $2 next year, and dividends are expected to grow at 5% per year indefinitely. The required rate of return on the company's stock is 10%.
What is the value of the stock using the Gordon growth model?
정답：C
설명：
The Gordon growth model values a stock assuming dividends grow at a constant rate indefinitely. The formula is:
Stock Value = D# ÷ (r # g),
where D# is the expected dividend next year, r is the required rate of return, and g is the growth rate.
Substituting the values:
$2 ÷ (0.10 # 0.05) = $2 ÷ 0.05 = $40.
This model is widely used in valuation for mature companies with stable dividend growth. It highlights the sensitivity of stock value to growth expectations and required returns. Option C correctly applies the Gordon growth model formula.
질문 # 23
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WGU인증 Financial-Management시험은 IT업종종사분들에게 널리 알려진 유명한 자격증을 취득할수 있는 시험과목입니다. WGU인증 Financial-Management시험은 영어로 출제되는만큼 시험난이도가 많이 높습니다.하지만 DumpTOP의WGU인증 Financial-Management덤프만 있다면 아무리 어려운 시험도 쉬워집니다. 오르지 못할 산도 정복할수 있는게DumpTOP제품의 우점입니다. DumpTOP의WGU인증 Financial-Management덤프로 시험을 패스하여 자격증을 취득하면 정상에 오를수 있습니다.
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