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*** F9 June 2016 Exam was.. Instant Poll and comments ***

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  • This topic has 118 replies, 51 voices, and was last updated 8 years ago by bbee.
Viewing 25 posts - 26 through 50 (of 119 total)
← 1 2 3 4 5 →
  • Author
    Posts
  • June 10, 2016 at 5:48 pm #322120
    xxajxx
    Participant
    • Topics: 0
    • Replies: 11
    • ☆

    Don’t you remember what exactly the question was?

    Expansionary fiscal policy => increase spendings;
    Contractionary fiscal policy => reduce spendings;
    Expansionary monetary policy => increase money supply;
    Contractionary monetary policy => reduce money supply.

    June 10, 2016 at 6:01 pm #322123
    Jayadev
    Member
    • Topics: 0
    • Replies: 13
    • ☆

    Hi, u got positive npv???

    June 10, 2016 at 6:14 pm #322130
    sferguson
    Participant
    • Topics: 0
    • Replies: 4
    • ☆

    Does anyone remember what they got for MCQ? I managed to write mine down.
    Got:
    A
    C
    B
    D
    B
    C
    B
    D
    D
    D
    C
    A
    D
    B
    A
    D
    C
    B
    C
    A

    June 10, 2016 at 6:19 pm #322135
    mynameisearl
    Member
    • Topics: 5
    • Replies: 118
    • ☆☆

    Hi,

    The mcq’s were really hard.

    There was one i should have known the answer to but could not work it out. The cost of equity. It gave the dividend 10p, p/e 5 times, d/C 4 times. What is the answer?

    Thanks

    June 10, 2016 at 6:20 pm #322137
    davidnat
    Member
    • Topics: 0
    • Replies: 3
    • ☆

    Negative NPV for first four years. As others said depreciation should not be in calculation. Only the tax allowable amount on depreciation which was 28% of $400k / 10 years. Think it was $112k a year

    June 10, 2016 at 6:34 pm #322147
    mynameisearl
    Member
    • Topics: 5
    • Replies: 118
    • ☆☆

    Q5 part b i did in perpetuity as it said ‘foreseeable future’ and i got a really high npv. But it really confused me and i felt so unsure if that was the right thing to do.

    WACC q i forgot what to do and deducted tax from bank loan interest rate, not sure if that was right.

    Q1 – im not sure if what i wrote was ok for overtrading.

    Q3 – hedging, the fo was better and about £6k less than the money market hedge.

    Mcq – sensitivity analysis i got 10% but felt so unsure as got my self confused with the tax, think i ignored it in the end.

    I guessed a lot if the mcqd.

    I chose leases for i think it was mcq 1.

    June 10, 2016 at 6:48 pm #322166
    xxajxx
    Participant
    • Topics: 0
    • Replies: 11
    • ☆

    @mynameisearl said:
    Hi,

    The mcq’s were really hard.

    There was one i should have known the answer to but could not work it out. The cost of equity. It gave the dividend 10p, p/e 5 times, d/C 4 times. What is the answer?

    Thanks

    Dividends paid = 0.1.
    Dividend cover = eps/div = 4. => eps = 0.4.
    P/E = market price per share / eps = 5. => m.p.s = 2.

    Cost of equity = dividends paid * (1 + growth rate) / market price per share + growth rate.

    I don’t remember exact numbers, but I think growth rate given should have been adjusted for particular period.

    June 10, 2016 at 6:48 pm #322167
    mynameisearl
    Member
    • Topics: 5
    • Replies: 118
    • ☆☆

    Same, is the right?

    June 10, 2016 at 6:49 pm #322168
    mynameisearl
    Member
    • Topics: 5
    • Replies: 118
    • ☆☆

    Same, is this right?

    June 10, 2016 at 6:51 pm #322169
    mynameisearl
    Member
    • Topics: 5
    • Replies: 118
    • ☆☆

    Thank you, think g was 0.8

    June 10, 2016 at 6:53 pm #322170
    xxajxx
    Participant
    • Topics: 0
    • Replies: 11
    • ☆

    @mynameisearl said:
    Q5 part b i did in perpetuity as it said ‘foreseeable future’ and i got a really high npv. But it really confused me and i felt so unsure if that was the right thing to do.

    WACC q i forgot what to do and deducted tax from bank loan interest rate, not sure if that was right.

    Q1 – im not sure if what i wrote was ok for overtrading.

    Q3 – hedging, the fo was better and about £6k less than the money market hedge.

    Mcq – sensitivity analysis i got 10% but felt so unsure as got my self confused with the tax, think i ignored it in the end.

    I guessed a lot if the mcqd.

    I chose leases for i think it was mcq 1.

    Sensitivity was for sales volume. So take contribution. If it was for price, than take sales revenue.
    NPV = 200
    Sales = 4000
    Variable costs = 2000

    (4000-2000)/200 = 10%

    June 10, 2016 at 6:54 pm #322171
    Jonathan
    Member
    • Topics: 0
    • Replies: 9
    • ☆

    I’m thinking for the NPV since the cash flows before applying the DF would remIn constant after year 4 and the life was 10 years you could have callculayed the NPV using annuities from year 5-10 and add that to the NPV. Make sense?

    June 10, 2016 at 6:57 pm #322173
    sophiemuzz
    Member
    • Topics: 4
    • Replies: 43
    • ☆

    For the sales volume I included the tax as I thought reduction in sales would = reduction in profit so less tax payable so I got 12.5%. I thought a lot of the multiple choice were really tricky in this exam and made up for the easier long questions ?

    June 10, 2016 at 6:58 pm #322174
    mynameisearl
    Member
    • Topics: 5
    • Replies: 118
    • ☆☆

    Yes but it said foreseeable future which makes me think perpetuity.

    Part b has left me v confused

    June 10, 2016 at 7:00 pm #322175
    Jonathan
    Member
    • Topics: 0
    • Replies: 9
    • ☆

    The answer was D – reduced government spending and increased money supply

    June 10, 2016 at 7:02 pm #322176
    Jonathan
    Member
    • Topics: 0
    • Replies: 9
    • ☆

    For the depreciation you had to calculate 25%(tax) on the annual depn of 400 for the tax savings.

    June 10, 2016 at 7:04 pm #322177
    joashbill
    Member
    • Topics: 16
    • Replies: 59
    • ☆☆

    The m and m multiple choice …can you believe i put agency cost and the last option … i thought agency and issue costs was the same

    June 10, 2016 at 7:09 pm #322180
    joashbill
    Member
    • Topics: 16
    • Replies: 59
    • ☆☆

    Can anyone remember the market value of the new loan notes? Was it the 16000 and what was the new cost of debt? Wasmt it 8 by .75 .I was left confused when my was increased to 10. I believe it was a computational error

    June 10, 2016 at 7:10 pm #322181
    mynameisearl
    Member
    • Topics: 5
    • Replies: 118
    • ☆☆

    Can we list all the mcqs and answers?

    If anyone can remember

    June 10, 2016 at 7:15 pm #322184
    xxajxx
    Participant
    • Topics: 0
    • Replies: 11
    • ☆

    @mynameisearl said:
    Can we list all the mcqs and answers?

    If anyone can remember

    Agree.

    June 10, 2016 at 7:16 pm #322185
    Md. Mamun Hossain
    Participant
    • Topics: 0
    • Replies: 4
    • ☆

    Yes, I got same number & negative NPV

    June 10, 2016 at 7:17 pm #322188
    shoaibacca
    Member
    • Topics: 1
    • Replies: 11
    • ☆

    last 20 number mcq how to calculate share price

    June 10, 2016 at 7:18 pm #322189
    Md. Mamun Hossain
    Participant
    • Topics: 0
    • Replies: 4
    • ☆

    Invert yield

    June 10, 2016 at 7:21 pm #322190
    xxajxx
    Participant
    • Topics: 0
    • Replies: 11
    • ☆

    @shoaibacca said:
    last 20 number mcq how to calculate share price

    It was ~$112/100 I think loan note, each convertible for 20 shares.

    20*mps=112, mps=5.6 indifference point.

    June 10, 2016 at 7:24 pm #322192
    xxajxx
    Participant
    • Topics: 0
    • Replies: 11
    • ☆

    I remember mcq on interest on repurchase.

    96.5 = 96 * (1 + interest* 50/365)

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