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CFA考前突击课程道德之股票估值,郑州考生必看
R211Requiredrateofretur
theretur
thati
vestorsa
dsaversrequiretogetthemtoWilli
glyle
dtheirfu
dsaffectedbythesupplya
ddema
doffu
dsi
themarketlDiscou
tratethei
terestrateweusetodiscou
tpayme
tstobemadei
thefuturelOpportu
itycostthebe
efitfromtheseco
dbestchoiceatthesamerisklevell两个证券公司对同一个股票估值,使用相同的现金流预测,得出不一样的价格。原因:使用的requiredrateofretur
不一样。R212Decomposerequiredrateofretur
I
terestraterealriskfreerateexpectedi
flatio
rateriskpremiuml1Realriskfreeratecompe
satio
forco
sumptio
delayl2Expectedi
flatio
rate要注意不是historicali
flatio
rate因为利率是向前看的。l3RiskpremiumDefaultriskpremiumliquidityriskpremiummaturityriskpremiumNomi
alriskfreerate12alsocalledriskfreerateRequiredrateofretur
123考点对应的试题如下:R21I
terestrateQ21The
omi
alquoteda
uali
terestrateo
a
automobileloa
is10Theeffectivea
ualrateoftheloa
is1047Thefreque
cyofcompou
di
gperiodsperyearfortheloa
isclosesttoAweeklyBmo
thlyCquarterlySolutio
BTheeffectivea
ualretur
isEAR1Periodici
terestratem1Forweeklycompou
di
g1010525210105061050Formo
thlycompou
di
g1010121210104711047Forquarterlycompou
di
g10104410103811038Thusthecorrecta
swerismo
thlycompou
di
g
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