财管 homework week17

Homework Exercises – 9Chapter 17 – Homework Questions1.Rank the following bank assets from most liquid to least liquid:mercial Loansb.Securitiesc.Reservesd.Physical Capital2.If the president of a bank told you that the bank was so well run that it neverhad to call in loans, sell securities or borrow as a result of a deposit outflow, would you be willing to buy stock in that bank? Why or why not?3.If the bank you own has no excess reserves and a sound customer comes inasking for a loan, should you automatically turn the customer down,explaining that you don’t have any excess reserves to loan out? Why or why not? What options are available for you to provide the funds your customer needs?4.Why has the development of overnight loan markets made it more likely thatbanks will hold fewer reserves?5.If you are a banker and expect interest rates to rise in the future, would youwant to make short-term or long-term loans?6.“Bank managers should always seek the highest return possible on theirassets.” Is this st atement true, false or uncertain? Explain your answer.7.“Banking has become a more dynamic industry because of more activeliability management.” Is this statement true, false or uncertain?8.Why has noninterest income been growing as a source of bank operatingincome?9.Which components of operating expenses experience the greatestfluctuations? Why?10.Why do equity holders care more about ROE than ROA?11.What does the net interest margin measure and why is it important to bankmanagers?12.If a bank doubles the amount of its capital and ROA stays constant, what willhappen to ROE?13.If a bank finds its ROE is too low because it has too much bank capital, whatcan it do to raise its ROE?14.What are the benefits and costs for a bank when it decides to increase theamount of its bank capital?15.If a bank is falling short of meeting its capital requirements by $1m, whatthree things can it do to rectify the situation?Chapter 17 – Quantitative Questions1.The balance sheet of TriBank starts with an allowance for loan losses of$1.33m. During the year, TriBank charges off worthless loans of $0.84m,recovers $0.22m on loans previously charged off, and charges currentincome for a $1.48m provision for loan losses. Calculate the end-of-yearallowance for loan losses.2.X-Bank reported an ROE of 15% and an ROA of 1%. What is the EquityMultiplier?3.Wiggley S&L issues a standard 30-year fixed rate mortgage at 7.8% for$150,000. Thirty-six months later mortgage rates jump to 13%. If the S&L sells the mortgage at this point how much of a loss is incurred?4.Refer to the previous question. In 1981 Congress allowed S&Ls to sellmortgages at a loss and amortize the loss over the remaining life of themortgage. If this were used for the previous question, how would thetransaction have been recorded? What would be the annual adjustment?When would that end?5.For the upcoming week, Nobel National Bank plans to issue $25m inmortgages and purchase $100m in T-bills. New deposits of $35m areexpected and other sources will generate $15m in cash. What is Nobel’sestimate of funds needed?6. A bank estimates that demand deposits are, on average, $100m with astandard deviation of $5m. The bank wants to maintain a minimum of 8% of deposits in reserves at all times. What is the highest expected level ofdeposits during the month? What reserves to they need to maintain? Use a 99% confidence level.The remaining questions relate to the first month’s operation of NewBank.7.NewBank started its first day of operations with $6m in capital. $100m incheckable deposits is received. The bank issues a $25m commercial loan and another $25m in mortgages, with the following terms.∙Mortgages: 100 standard 30-year fixed-rate mortgages with a nominal annual rate of 5.25% each for $250,000.∙Commercial loan: 3-year loan, simple interest paid monthly at 0.75% per month.If required reserves are 8%, what does the bank’s balance sheet look like?Ignore any loan loss reserves.8.NewBank decides to invest $45m in 30-day T-bills. The T-bills are currentlytrading at$4986.70 (including commissions) for a $5,000 face valueinstrument. How many do they purchase? What does the balance sheet look like?9.On the third day of operations, deposits fall by $5m. What does the balancesheet look like? Are there any problems?10.To meet any shortfall in the previous question, NewBank will borrow thecash in the federal funds market. Management decides to borrow the needed funds for the remainder of the month (now 29 days). The required yield on a discount basis is 2.9%. What does the balance sheet look like after thistransaction?11.The end of the month finally arrives for NewBank, and it receives all of therequired payments from its mortgages, commercial loans and T-bills. How much cash is received? How are these transactions recorded?12.NewBank also pays off its federal funds borrowed. How much cash is owed?How is this recorded?13.What does the month-end balance sheet for NewBank look like? Calculatethis before any income tax consideration.14.Calculate NewBank’s ROAD and NIM for i ts first month. Assume that netinterest equals EBT, and that NewBank is in the 34% tax bracket.15.Calculate NewBank’s ROE and final balance sheet including its tax liabilities.16.If NewBank were required to establish a loan loss reserve at 0.25% of theloan value for commercial loans, how would this be recorded? Recalculate NewBank’s ROE and final balance sheet, including its tax liabilities.17.If NewBank’s target ROE is 4.5%, how much net fee income must it generateto meet this target?18.After making payments for three years, one of the mortgage borrowersdefaults on the mortgage. NewBank immediately takes possession of thehouse and sells it at auction for $175,000. Legal fees amount to $25,000. If no loan loss reserve was established for the mortgage loans, how is this event recorded.。

Homework time in English is typically referred to as homework hours or study time. Here are some phrases and sentences you might use to discuss homework time:1.Its time to start your homework.2.I usually do my homework after dinner.3.How long does it take you to finish your homework?4.Ive set aside two hours for homework tonight.5.We have a homework club at school where we can work together.6.I need to allocate more time for my homework this week.7.Homework helps reinforce what we learn in class.8.I try to balance my homework time with other activities.9.Its important to have a quiet space for homework.10.I prefer to do my homework in the morning when Im fresh.11.I use a homework planner to keep track of assignments.12.Dont forget to set aside time for your homework.13.Homework time is also a good opportunity to review class notes.14.I find it helpful to break up my homework into smaller tasks.15.Lets make a schedule for homework time this week.16.I need to prioritize my homework to manage my time effectively.17.I often use online resources to help with my homework.18.Its essential to take breaks during long homework sessions.19.I like to reward myself after completing my homework.20.Remember to doublecheck your homework before submitting it.These phrases can be adapted to fit different situations and preferences when discussing the time spent on homework in English.。

2017年注册会计师全国统一考试专业阶段《财务成本管理》真题答案及解析一、单项选择题（本题型共14小题，每小题1.5分，共21分，每小题只有一个正确答案，请从每小题的备选答案中选出一个你认为正确的答案。

）1．当存在无风险资产并可按无风险报酬率自由借贷时，下列关于最有效风险资产组合的说法中，正确的是（）。

A．最有效风险资产组合是投资者根据自己风险偏好确定的组合B．最有效风险资产组合是风险资产机会集上最高期望报酬率点对应的组合C．最有效风险资产组合是风险资产机会集上最小方差点对应的组合D．最有效风险资产组合是所有风险资产以各自的总市场价值为权数的组合2．甲企业采用标准成本法进行成本控制。

当月产品实际产量大于预算产量时，导致的成本差异是（）。

A．直接材料数量差异 B．变动制造费用效率差异C．直接人工效率差异 D．固定制造费用能量差异3．与激进型营运资本投资策略相比，适中型营运资本投资策略的（）。

A．持有成本和短缺成本均较低 B．持有成本较高，短缺成本较低C．持有成本和短缺成本均较高 D．持有成本较低，短缺成本较高4．甲部门是一个利润中心。

下列各项指标中，考核该部门经理业绩最适合的指标是（）。

A．部门边际贡献 B．部门税后利润C．部门营业利润 D．部门可控边际贡献5．实施股票分割和股票股利产生的效果相似，它们都会（）。

A．降低股票每股面值B．减少股东权益总额C．降低股票每股价格D．改变股东权益结构6．甲公司2016年初未分配利润-100万元，2016年实现净利润1 200万元。

公司计划2017年新增资本支出1 000万元，目标资本结构（债务：权益）为3：7。

法律规定，公司须按净利润10%提取公积金。

若该公司采取剩余股利政策，应发放现金股利（）万元。

A．31O B．400 C．380 D．5007．在考虑企业所得税但不考虑个人所得税的情况下，下列关于资本结构有税MM理论的说法中，错误的是（）。

A．财务杠杆越大，企业价值越大B．财务杠杆越大，企业权益资本成本越高C．财务杠杆越大，企业利息抵税现值越大D．财务杠杆越大，企业加权平均资本成本越高8．应用“5C”系统评估顾客信用标准时，客户“能力”是指（）。

2017 年中级财务管理考试真题及答案解析（第一批）一、单项选择题1. 某公司 2002-2016 年度销售收入和资金占用的历史数据《单位：万元》分别为（800，18），（ 760，19），（ 1000，22），（ 1100，21），运用高低点法分离资金占用中的不变资金与变动资金时，应采用的两组数据是（）A. （760， 19）和（ 1000， 22）B.（760， 19）和（ 1100，21）C.（800， 18）和（ 1000， 22）D.（800， 18）和（ 1100，21）2.某企业生产某一产品，年销售收入为 100 万元，变动成本总额为 60 万元，固定成本总额为 16 万元，则该产品的边际贡献率为（）。

A.40%B.76%C.24%D.60%3.在计算稀释每股收益时，下列各项中，不属于潜在普通股的是（）。

A. 可转换公司债券B.不可转换优先股C.股票期权D.认股权证4.若激励对象没有实现的约定目标，公司有权将免费赠与的股票收回，这种股权激励是（）A. 股票股权模式B.业绩股票模式C.股票增值权模式D. 限制性股票模式5.下列各项中，属于资金使用费的是（）。

A. 借款手续费B.债券利息费C.借款公证费D.债券发行费6.集权型财务管理体制可能导致的问题是（）。

A. 利润分配无序B. 削弱所属单位主动性C.资金成本增大D.资金管理分散7.与发行债务筹资相比，发行普通股股票筹资的优点是（）。

A. 可以稳定公司的控制权B. 可以降低资本成本C. 可以利用财务杠杆D. 可以形成稳定的资本基础8.根据作业成本管理原理，某制造企业的下列作业中，属于增值作业的是（）A. 产品检验作业B.产品运输作业C.零件组装作业D.次品返工作业9.企业因发放现金股利的需要而进行筹资的动机属于（）。

A. 扩张性筹资动机B. 支付性筹资动机C.创立性筹资动机D. 调整性筹资动机10.在应收账款保理业务中，保理商和供应商将应收账款被转让的情况通知购货商，并签订三方合同，同时，供应商向保理商融通资金后，如果购货商拒绝付款，保理商有权向供应商要求偿还融通的资金，则这种保理是（）。

第十七章短期经营决策【高频考点1】生产决策一、生产决策的主要方法二、生产决策方法的运用(一)亏损产品是否停产的决策决策指标：边际贡献决策原则：如果企业的亏损产品能够提供正的边际贡献，就不应该立即停产。

(二)零部件自制与外购的决策【提示】在进行自制还是外购的决策时，还要考虑外购产品的质量、送货的及时性、长期供货能力、供货商的新产品研发能力以及本企业有关职工的抱怨程度等因素，在综合考虑各方面因素之后才能进行最后的选择。

(三)特殊订单是否接受的决策决策指标：接受订单增加的相关损益=订单所提供的边际贡献-该订单所引起的相关成本决策原则：增加的相关损益大于0，可接受订单。

【提示】由于接受追加订货而使正常产量减少的边际贡献应视为机会成本决策指标：接受订单增加的相关损益=订单所提供的边际贡献-该订单所引起的相关成本决策原则：增加的相关损益大于0，可接受订单。

【提示】由于接受追加订货而使正常产量减少的边际贡献应视为机会成本(四)限制资源最佳利用的决策决策指标：单位限制资源的边际贡献=单位边际贡献/单位产品所需用的资源决策原则：优先安排“单位限制资源的边际贡献”最大的方案【高频考点2】定价决策一、产品销售定价决策原理市场类型：企业对价格的控制力完全竞争市场：单个厂商无法左右，是均衡价格的被动接受者垄断竞争市场：厂商可以对价格有一定的影响力寡头垄断市场：厂商可以对价格有一定的影响力完全垄断市场：企业可自主决定产品的价格【提示】产品定价决策通常是针对后三种市场管理会计人员主要是从产品成本与销售价格之间的关系角度为管理者提供产品定价的有用信息。

二、产品销售定价的方法【高频考点3】订货决策一、存货管理的目标1.保证生产或销售的经营需要2.出自价格的考虑二、储备存货的成本三、存货经济批量分析(一)经济订货量基本模型1.经济订货量的概念按照存货管理的目的，需要通过合理的进货批量和进货时间，使存货总成本最低的进货批量，也叫做经济订货量或经济批量。

小学三年级上册英语模拟卷(答案和题解)(共50道题)下面有答案和解题分析一、综合题1.What is the name of the place where we go to learn?A. ParkB. SchoolC. StoreD. Hospital2.Which of these is used to play music?A. GuitarB. PlateC. KnifeD. Spoon3.How many days are there in a week?A. 7B. 5C. 10D. 64.I _______ (read) a book right now.5.We _______ a new car last month.6.I _______ (visit/visits) my grandparents every month.7.I _______ (be) a student at this school.8.Which one is a day of the week?A. BananaB. MondayC. RedD. Carrot9.We _______ (go) to the library every Monday.10.I _______ (go) to the park yesterday.11.We _______ (eat) dinner at 6:00 p.m.12.We _______ (visit) my grandmother next Sunday.13.I _______ (write/writes) letters to my friends.14.Tom and his family are going to the beach for the weekend. Tom brings his__________, towel, and a __________ to play with in the sand. His sister Lily loves to build a __________, and their parents relax under the __________. Later, they all go into the __________ to cool off.15.Which of these is the name of a season?A. SummerB. JanuaryC. TuesdayD. School16.We _______ (study/studies) English every day.17.She _______ (run) very fast.18.We _______ (not/like) doing homework on weekends.19.Mike’s birthday is next week. He is going to have a big __________ (1) with all his friends. Mike has invited many people to his house. He is going to serve __________ (2), __________ (3), and __________ (4) at the party. There will also be a __________ (5) with chocolate icing. Mike is really excited because he will get many __________ (6) from his friends.20.I _______ (be) 9 years old.21.I __________ (1) a new video game yesterday. It __________ (2) very fun! My brother and I __________ (3) to play it together, but I __________ (4) to finish my homework first. After I __________ (5) my homework, we __________ (6) to play the game.22.Which of these is a season?A. DecemberB. MondayC. WinterD. Chair23.Which one is used to cut paper?A. ScissorsB. KnifeC. PlateD. Chair24.I _______ (make) a cake for my mother’s birthday yesterday. It _______ (be) a chocolate cake, and it _______ (look) really delicious. My mother _______ (love) the cake. She _______ (say) it _______ (be) the best cake she _______ (ever) eat.25.They _______ (take) a break at 10:00.26.She _______ her homework now.27.What do we use to read a book?A. EyesB. EarsC. NoseD. Mouthst weekend, my family and I went to a __________. We took a __________ and saw many interesting __________. There were __________, birds, and monkeys. I loved the __________ because it was very big and colorful. We stayed there for __________ hours and then had lunch at a __________. It was a fun day!29.We _______ (not/go) to school on Sundays.30.I _______ (not/like) to do homework on the weekends.31.They _______ (watch) TV right now.32.I _______ (like / likes / liked) to watch TV.33.Which of the following is a means of transportation?A. TableB. BicycleC. ChairD. Lamp34.She _______ (have/has) a pet cat.35.He _______ (not/like) doing his homework.36.We _______ (do / does / did) our homework every evening.37.We _______ (go) swimming in the summer.38.We ______ (study) English every day. My sister ______ (help) me with my homework. Yesterday, we ______ (read) an interesting book together. It ______ (be) about animals. We ______ (learn) a lot of new words.39.I _______ (take) the bus to school every day.40.Which one is a fruit?A. ChairB. AppleC. TableD. Pen41.My little brother __________ (like) to play with his toys in the afternoon. Yesterday, he __________ (find) a new toy car in his room. He __________ (be) so happy! He __________ (tell) me that he __________ (want) to play with it all day. I__________ (help) him fix it because one of the wheels __________ (fall) off.42.Lily is drawing a picture of a __________. She starts with a big __________ in the center. Then, she adds some __________ around it. Lily uses __________ colors to make her picture look bright and colorful.43.We _______ (go) to the beach every summer.44.They _______ (not/understand) the question.45.They _______ (go) to school by bike every day.46.Which of these is a toy?A. TableB. BallC. SpoonD. Chair47.I _______ my sandwich for lunch today.48.What is the capital of England?A. ParisB. LondonC. BerlinD. Madrid49.I _______ (have) a new bike.50.I _______ (eat) dinner now.(答案及解释)。

三、敏感性分析1.盈亏转折分析：找到使利润降为0的P、V、Q、F的临界值。

【例17-5】企业只生产一种产品，单价为2元，单位变动成本为1.20元，预计明年固定成本40000元，产销量计划达100000件。

要求：确定有关参数发生多大变化使盈利转为亏损？【答案】预计明年销售利润为：利润=100000×（2-1.20）-40000=40000（元）（1）单价的最小值设单价为P：100000×（P-1.20）-40000=0P=1.60（元）单价降至1.60元，即降低20%（0.4÷2）时企业由盈利转入亏损。

（2）单位变动成本的最大值设单位变动成本为V：100000×（2-V）-40000=0V=1.60（元）单位变动成本由1.20元上升至1.60元时，企业利润由40000元降至零。

此时，单位变动成本上升了33%（0.40÷1.20）。

（3）固定成本最大值设固定成本为F：100000×（2-1.20）-F=0F=80000（元）固定成本增至80000元时，企业由盈利转为亏损，此时固定成本增加了100%（40000÷40000）。

（4）销售量最小值（盈亏临界点销售量）Q0=40000/（2-1.20）=50000（件）销售计划如果只完成50%（50000÷100000），则企业利润为零。

2.敏感系数的计算敏感系数=目标值变动百分比/参量值变动百分比下面仍以例17-5的数字为基础，进行敏感程度的分析：（1）单价的敏感程度设单价增长20%，则：P=2×（1+20%）=2.40（元）按此单价计算，利润=100000×（2.4-1.20）-40000=80000（元）利润原来是40000元，其变化率为：目标值变动百分比=（80000-40000）/40000=100%单价的敏感系数=100%/20%=5经营者根据敏感系数知道，每降价1%，企业将失去5%的利润，必须格外予以关注。

17秋《财务管理学》作业_1显示答案一、单选题( 每题4分, 共15道小题, 总分值60分)1.最佳订货批量与＿无关。

(4分)A. 安全库存量B. 全年存货需要量C. 平均每次进货费用D. 存货的年度单位储存成本答案:A2.下列＿可以反映企业项目的真实报酬率。

(4分)A. 净现值B. 获利指数C. 静态投资回收期D. 内部收益率答案:D3.获利指数小于1，净现值＿。

(4分)A. 大于0B. 等于0C. 小于0D. 不确定答案:C4.净现值大于0，获利指数＿。

(4分)A. 小于1B. 大于1C. 等于1D. 不确定答案:B5.企业一定时期内的销售成本与同期的存货平均余额之间的比率被称为。

(4分)A. 流动资产周转率B. 营运资金周转率C. 总资产周转率D. 存货周转率答案:D6.＿存货种类多，占用资金少。

(4分)A. D类B. C类C. A类D. B类答案:B7.下列不属于负债资金的是__ _。

(4分)A. 银行借款B. 发行债券C. 发行普通股D. 商业信用答案:C8.贴现率越大，净现值越＿。

(4分)A. 大B. 不变C. 越小D. 不确定答案:C9.下列＿的计算需要事先估计贴现率。

(4分)A. 投资利润率B. 净现值C. 内部收益率D. 静态投资回收期答案:B10.我国《公司法》规定，公司向＿发行的股票可以为记名股票，也可以为无记名股票。

(4分)A. 国家授权投资的机构B. 社会公众C. 发起人D. 法人答案:B11.根据对未来情况的掌握程度，投资决策不包括_ __。

(4分)A. 确定性决策B. 收益性决策C. 风险性决策D. 不确定性决策12.＿存货种类少，占用资金多。

(4分)A. D类B. C类C. A类D. B类答案:C13.债权人最关心企业的__ _。

(4分)A. 营运能力B. 发展能力C. 偿债能力D. 盈利能力答案:C14.属于收益分配应考虑的公司因素的是＿。

(4分)A. 稳定的收入和避税B. 资本积累约束C. 偿债能力约束D. 盈余的稳定性答案:D15.法定盈余公积金的提取比例是＿。

实用文档2017年中级财务管理真题及答案解析（第一批）一、单项选择题1. 某公司2002-2016年度销售收入和资金占用的历史数据《单位：万元》分别为（800，18），（760, 19），（1000, 22），（1100, 21），运用高低点法分离资金占用中的不变资金与变动资金时，应采用的两组数据是（）A. （760，19）和（1000，22）B. （760，19）和（1100，21）C. （800，18）和（1000，22）D. （800，18）和（1100，21）【答案】B【解析】采用高低点法来计算现金占用项目中不变资金和变动资金的数额，应该采用销售收入的最大值和最小值作为最高点和最低点，故应该选择（760, 19）和（1100, 21），选项B正确。

【知识点】资金习性预测法-高低点法（P118）2. 某企业生产某一产品，年销售收入为100万元，变动成本总额为60万元，固定成本总额为16万元，则该产品的边际贡献率为（）。

A. 40%B. 76%C. 24%D. 60%【答案】A【解析】边际贡献率=边际贡献总额/销售收入=（100-60）/100=40%,选项A正确。

【知识点】量本利分析概述-量本利分析的基本关系式（P225）3. 在计算稀释每股收益时，下列各项中，不属于潜在普通股的是（）。

A. 可转换公司债券B. 不可转换优先股C. 股票期权实用文档 0D. 认股权证【答案】B【解析】稀释性潜在普通股指假设当期转换为普通股会减少每股收益的潜在 普通股。

潜在普通股主要包括：可转换公司债券、认股权证和股份期权等，因此 选项 B 错误。

【知识点】上市公司特殊财务分析指标 - 稀释每股收益（ P336）4. 若激励对象没有实现的约定目标， 公司有权将免费赠与的股票收回， 这种 股权激励是（）A. 股票股权模式B .业绩股票模式C. 股票增值权模式D. 限制性股票模式【答案】 D【解析】限制性股票指公司为了实现某一特定目标， 公司先将一定数量的股 票赠与或以较低价格售予激励对象。