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質問 1：
The court's acceptance, rejection, or relative weight
accorded to various valuation approaches and methods generally revolves around some factors. Which of the following are NOT out of those factors?
A. The quality of available evidence relevant to the respective methods
B. The prospects for liquidation or continued operations
C. The type of company
D. The subject company's industry norms
正解：D
質問 2：
_ proclaims that if valuing a company by the asset approach, the analyst should check to see whether capital gains taxes would be incurred on the liquidation of the assets. If so, it is possible that a discount should be taken for the capital gains tax liability.
A. Fiduciary duties
B. Potential dilution
C. Contractual restrictions
D. Built-in gains discount
正解：D
質問 3：
applies option pricing methods to value economic projects, companies, and financial securities. Just as option pricing models incorporate the flexibility of option holders' decision as to whether and when to exercise an option by paying the exercise price.
A. Return option valuation
B. Valuing the built-in gains
C. Real option valuation
D. Corporation based valuation
正解：C
質問 4：
This is sometimes considered the accumulation of all other elements of economic value of business enterprise not
specifically with (or allocated to)
individual tangible and intangible assts. Its analysis and qualification is an important component in
the application of asset accumulation method to a company like Seller. What is this?
A. Trademark
B. Copyrights
C. Patents
D. Goodwill
正解：D
質問 5：
Fisher Black developed a technique to value American stock options using the Black-Scholes model called the pseudo-American call option model. The steps in the method are as follows EXCEPT:
A. Using the Black-Scholes model, compute the value of each of the pseudo-options using unadjusted underlying stock price.
B. Compute the adjusted market price of the stock by deducting the present value, using the risk-free rate, of the future dividends payable during the remaining life of the option
C. For
each pseudo-option assumed
to expire on a dividend date, deduct
from the exercise price of the option the dividend payable on the date and the present value, using the risk-free rate, of all the remaining dividends to be paid after the dividend date during the term of the option
D. Select the European option with the highest value as the value of the American option
正解：A
質問 6：
The analyst used to quantify the value of intangible assets. The analyst estimated the current
cost required for the company to
recreate its current level of customer awareness, brand recognition and consumer loyalty.
A. Recreation cost method
B. Asset accumulation method
C. Income approach
D. Valuing intangibles method
正解：A
The court's acceptance, rejection, or relative weight
accorded to various valuation approaches and methods generally revolves around some factors. Which of the following are NOT out of those factors?
A. The quality of available evidence relevant to the respective methods
B. The prospects for liquidation or continued operations
C. The type of company
D. The subject company's industry norms
正解：D
質問 2：
_ proclaims that if valuing a company by the asset approach, the analyst should check to see whether capital gains taxes would be incurred on the liquidation of the assets. If so, it is possible that a discount should be taken for the capital gains tax liability.
A. Fiduciary duties
B. Potential dilution
C. Contractual restrictions
D. Built-in gains discount
正解：D
質問 3：
applies option pricing methods to value economic projects, companies, and financial securities. Just as option pricing models incorporate the flexibility of option holders' decision as to whether and when to exercise an option by paying the exercise price.
A. Return option valuation
B. Valuing the built-in gains
C. Real option valuation
D. Corporation based valuation
正解：C
質問 4：
This is sometimes considered the accumulation of all other elements of economic value of business enterprise not
specifically with (or allocated to)
individual tangible and intangible assts. Its analysis and qualification is an important component in
the application of asset accumulation method to a company like Seller. What is this?
A. Trademark
B. Copyrights
C. Patents
D. Goodwill
正解：D
質問 5：
Fisher Black developed a technique to value American stock options using the Black-Scholes model called the pseudo-American call option model. The steps in the method are as follows EXCEPT:
A. Using the Black-Scholes model, compute the value of each of the pseudo-options using unadjusted underlying stock price.
B. Compute the adjusted market price of the stock by deducting the present value, using the risk-free rate, of the future dividends payable during the remaining life of the option
C. For
each pseudo-option assumed
to expire on a dividend date, deduct
from the exercise price of the option the dividend payable on the date and the present value, using the risk-free rate, of all the remaining dividends to be paid after the dividend date during the term of the option
D. Select the European option with the highest value as the value of the American option
正解：A
質問 6：
The analyst used to quantify the value of intangible assets. The analyst estimated the current
cost required for the company to
recreate its current level of customer awareness, brand recognition and consumer loyalty.
A. Recreation cost method
B. Asset accumulation method
C. Income approach
D. Valuing intangibles method
正解：A
坂本** -
CVAの試験対策としてはとても良い。
試験でも模擬試験と同じような問題がでました。役に立ちました。
ありがとうございました。