IFPUG ABV 問題集

質問 1：
According to the 2006 edition of the Uniform Standards of Professional Appraisal Practice (USPAP), the definition of an appraisal, the act or process of developing an opinion of value; an opinion of value is called:
A. Evaluation
B. Analysis
C. Assessment
D. Appraisal
正解：D

質問 2：
Which properties manifest all of the legal existence and economic value attributes of other intangibles?
A. Engineering-related
B. Contractual
C. Customized
D. Intellectual
正解：D

質問 3：
If there are five directors to be elected, and 500 shares are outstanding and voting for the election of directors, the minimum number of shares necessary to elect one director would be 84 shares. Proof: 84 shares time five directors to be elected equals 420 votes, all cast for one director. Assuming the rest of the stock (416 shares) votes en bloc as the majority, such total of 2,080 votes
distributed among
five
directors
would be 416 votes
each.
Therefore, individual representing the minority and receiving its 420votes is sure to get one of the places on the board, the majority getting the other four places. The minority in this example must be sure to vote all of its 420 votes for one director; if it distributed the 420 votes among two, it obviously would not win any places on the board. Cumulative voting, move over, requires a majority of the stock to be able to elect a majority of the board. In the above example, five directors, shares are necessary, or a majority of the shares total.
A. 251, 500
B. 200, 400
C. 249, 500
D. 150, 300
正解：A

質問 4：
Which of the following is the main category of adjustments to financial statement?
A. Adjust for non-operating items.
B. Remove nonrecurring items (and any required tax effects) from income statements.
C. put guideline and subject companies on a comparable accounting basis
D. All of the above
正解：D

質問 5：
The advantages of the binomial model over the Black-Scholes model and its variations include:
A. Binomial model does not require more computations
B. The binomial model can be quite useful for valuing employee stock options as it is possible to include potential dilution, blackout periods, delayed vesting provisions, early exercise
patterns and
employee turnover in the
model
by increasing the number of periods and adjusting the option values at each node
C. Binomial Model does not have any liquidity problem
D. The binomial model's ability to incorporate a variety of conditions which can increase accuracy, including variations
in expected volatility, dividends
rates and
risk-free discount rates as well as transaction costs.
正解：B,D

質問 6：
The formula to calculate the Business Risk is:
A. Business Risk = Standard deviation of Gross income / Mean of net income
B. Business Risk = Percentage change of Gross income / Mean of Gross income
C. Business Risk = Percentage change of net income / Mean of net income
D. Business Risk = Standard deviation of net income / Mean of net income
正解：D