備考CFA考試是不是掌握了一定的知識(shí)？今天我們看看權(quán)益科目的知識(shí)點(diǎn)考題，看看能不能做對(duì)呢？如果正在備考的考生可以起看看！

An analyst has determined that the appropriate EV/EBITDA for Rainbow Company is 10.2. The analyst has also collected the following forecasted information for Rainbow Company:

EBITDA = $22,000,000

Market value of debt = $56,000,000

Cash = $1,500,000

The value of equity for Rainbow Company is closest to:

A. $169 million.

B. $224 million.

C. $281 million.

解析：選A。? Equity value = EV – MV(Debt) + Cash = 22*10.2 - 56 + 1.5 = 169.9

補(bǔ)充：在該公式中，債務(wù)的市場(chǎng)價(jià)值MV(Debt)是難獲得的。


An asset-based valuation model would be most applicable:

A. for valuing a small and privately held firm.

B. when the economic environment is hyperinflationary.

C. for valuing a firm that has significant property, plant, and equipment.

解析：選A。小型私有企業(yè)適合使用基于資產(chǎn)的估值方法。B項(xiàng)，在惡性通貨膨脹的環(huán)境下，資產(chǎn)價(jià)值可能更難估計(jì)。C項(xiàng)，擁有大量PPE的公司不適用，因?yàn)橘Y產(chǎn)的市場(chǎng)價(jià)值不確定。

補(bǔ)充：基于資產(chǎn)的估值模型為 MV(E) = MV(A) - MV(L)，即資產(chǎn)負(fù)債表恒等式。

CFA知識(shí)點(diǎn)掌握如何？練習(xí)的怎樣？如果需要相關(guān)的資料和課程可以在線咨詢或者添加老師微信。