Which of the following statements on the forms of the efficient market hypothesis （EMH) is

Given the following estimated financial results, value the stock of FishnChips, In

A., using the infinite period dividend discount model (DDM).

· Sales of $1,000,000.

· Earnings of $150,000.

· Total assets of $800,000.

· Equity of $400,000.

· Dividend payout ratio of 60.0%.

· Average shares outstanding of 75,000.

· Real risk free interest rate of 4.0%.

· Expected inflation rate of 3.0%.

· Expected market return of 13.0%.

· Stock Beta at 2.1.

The per share value of FishnChips stock is approximately: (Note: Carry calculations out to at least 3 decimal places.)

B.Unable to calculate stock value because ke

D.$17.91.

E.$26.86.

A company has issued non-callable, non-convertible preferred stock with the following features:

· Par value per share: $10

· Annual dividend per share: $2

· Maturity: 15 years

An investor’s required rate of return is 8%, and the current market price per share of the preferred stock is $25. By comparing the estimated intrinsic value with the market price of the preferred stock, the most likely conclusion is that the preferred stock is:

A.fairly valued at $25.00.

B.undervalued by $15.00.

C.overvalued by $4.73.

the following weighting schemes will see a bias due to the impact of stock splits?

A.Unweighted price series.

B.Price-weighted series.

C.Market value-weighted series

l and maintenance margins are 50% and 25%.

A.39.55%

B.53.75%

C.15.75%

specifies:

A.validity and execution instructions.

B.clearing and validity instructions.

C.clearing and validity instructions.

rising prices he would place a:

A.limit order to buy.

B.stop order to sell.

C.stop order to buy.

t likely a(n):

A.quote-driven market

B.order-driven market

C.brokered market

货币政策的政策手段主要包括

a，改变税收

b，法定存款准备政策

c，再贴现政策  

d，公开市场业务操作