Multiple choice Grundkurs

[Joes]

One of the factors in the Arbitrage Pricing Theory has to be the risk premium

Only if the market is informationally efficient index-funds may be a superior alternative to actively managed funds

In a market not being informationally efficient some kinds of technical trading may be rational

Th smaller the dividend-payout-ratio is, the higher will be the dividend growth rate (c.p.)

If all people adopt the beauty-contest-rules (Keynes) the market will become informationally efficient

In a market being weak-form informationally efficient, trading on fundamental information may create systematic, above-average returns

The Index-model describes a market equilibrium

An index fund represents always an efficient portfolio

The critical line is straight even under short-selling restrictions

As long as others do not know that you are better informed, additional information has never a negative value for you

With more information the precision of your estimates cannot be worse than before

The lower the dividend is, the faster will be the dividend growth rate in the future

If the market participants believe that the efficient markets hypothesis does not hold, the efficient markets hypothesis may hold

The smaller the dividend-payout-ratio is, the higher will be the dividend growth rate (c.p.)

The Gordon’s formula takes into account only dividends and disregards capital gains

The slope of the capital market line can be positive or negative

The minimum-variance-portfolio is efficient

If the interest rate for borrowers is not the same as the interest rate for lenders the efficient frontier is not linear

In the Index-model, Covxy = ßx²*ßy²*VarM

Market efficiency decreases when traders no longer conduct financial analysis

A ‘signal’ is a test whether the sender is of high quality or not

If a stock price series shows autocorrelations, it does not exhibit a Random Walk

Private information cannot have a negative value for you as long as nobody knows that you have private information

Real stock distributions usually have a kurtosis>3

The assumed slope of a security market line can be positive or negative

The minimum-variance-portfolio is always efficient

The Index-model and the CAPM have the same scope

In evaluating creditworthiness of potential debtors banks are exposed to
a winner’s-curse risk

Capital structure has to be calculated upon data from the balance sheet

The Arbitrage pricing theory is a special case of the CAPM

With event studies usually the strong-form-efficiency of markets is tested

The last weak variance of stock prices does not allow to make forecasts of the next weak variances

If there is a positive bid-ask-spread in the interest rates, the borrowing line
will be steeper than the lending line

In the Index-model the covariance of stock A with stock B is calculated as
...........

If a firm has hidden reserves, capital structure calculated upon data from the balance sheet will be lower than capital structure calculated from market data

In order to conduct an event study all events considered have to have occured at the same date

in the last four decades there has never been a six years period with a negative equity risk premium in germany


Bitte um Unterstützung

[schlori]

Buah.....da sind zumindest die Hälfte der Fragen mit den Büchern und ein wenig Zeitaufwand zu beantworten.....

[csag9925]

One of the factors in the Arbitrage Pricing Theory has to be the risk premium
falsch

Only if the market is informationally efficient index-funds may be a superior alternative to actively managed funds
falsch, da keine Management Gebühren anfallen auch sonst interessant

In a market not being informationally efficient some kinds of technical trading may be rational
richtig

The smaller the dividend-payout-ratio is, the higher will be the dividend growth rate (c.p.)
richtig

If all people adopt the beauty-contest-rules (Keynes) the market will become informationally efficient
weiß nicht genau, eher falsch, dass ist das mit aggregating and averaging,

In a market being weak-form informationally efficient, trading on fundamental information may create systematic, above-average returns
richtig

The Index-model describes a market equilibrium
flasch, rein statistisches Modell

An index fund represents always an efficient portfolio
weiß nicht genau, eher flach weil ein Index auch sehr klein sein kann und weil always drinnen steht J

The critical line is straight even under short-selling restrictions
weiß auch nicht genau, die critical line ist nur eine Gerade wenn short selling erlaubt ist, also falsch

As long as others do not know that you are better informed, additional information has never a negative value for you
richtig siehe Bimatrix Game im Schredlsecker Buch

With more information the precision of your estimates cannot be worse than before
falsch

The lower the dividend is, the faster will be the dividend growth rate in the future
richtig

If the market participants believe that the efficient markets hypothesis does not hold, the efficient markets hypothesis may hold
richtig, da sie ansonsten wahrscheindlich nicht mehr im Markt wären

The smaller the dividend-payout-ratio is, the higher will be the dividend growth rate (c.p.)
hatten wir schon mal
The Gordon’s formula takes into account only dividends and disregards capital gains
falsch

The slope of the capital market line can be positive or negative
kommt darauf an ob expost oder exante betrachtet, exante auch negative à richtig

The minimum-variance-portfolio is efficient
richtig

If the interest rate for borrowers is not the same as the interest rate for lenders the efficient frontier is not linear
richtig

In the Index-model, Covxy = ßx²*ßy²*VarM
siehe skript sicher irgendwo drinnen

Market efficiency decreases when traders no longer conduct financial analysis
weiß nicht genau, siehe Simulationsmodell im Schredlsecker Buch

A ‘signal’ is a test whether the sender is of high quality or not
richtig

If a stock price series shows autocorrelations, it does not exhibit a Random Walk
richtig

Private information cannot have a negative value for you as long as nobody knows that you have private information
richtig

Real stock distributions usually have a kurtosis>3
weiß leider nicht

The assumed slope of a security market line can be positive or negative
falsch siehe Beschreibung oben

The minimum-variance-portfolio is always efficient
Richtig

The Index-model and the CAPM have the same scope
weiß leider nicht, eher falsch

In evaluating creditworthiness of potential debtors banks are exposed to
a winner’s-curse risk
richtig

Capital structure has to be calculated upon data from the balance sheet
Richtig

The Arbitrage pricing theory is a special case of the CAPM
Falsch, umgedreht

With event studies usually the strong-form-efficiency of markets is tested
flasch

The last weak variance of stock prices does not allow to make forecasts of the next weak variances
weiß nicht genau, Varianzen sind prognostizierbar, aber über eine woche eher nicht à falsch

If there is a positive bid-ask-spread in the interest rates, the borrowing line
will be steeper than the lending line
Richtig

In the Index-model the covariance of stock A with stock B is calculated as
...........
sicher auch im Skript

If a firm has hidden reserves, capital structure calculated upon data from the balance sheet will be lower than capital structure calculated from market data
weiß nicht

In order to conduct an event study all events considered have to have occured at the same date
falsch

in the last four decades there has never been a six years period with a negative equity risk premium in germany
siehe Folien



Bitte selber noch mal genau nachkontrollieren, habs nur so überflogen! Hab im Februar geschrieben und deshalb viele noch im Kopf!

mfg

[infy]

If there is a positive bid-ask-spread in the interest rates, the borrowing line
will be steeper than the lending line

FALSCH würd i sagen, siehe PF skript