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NEW QUESTION: 1
Janice Palmer, CFA, is an international equity analyst at a large investment management firm catering to high net worth U.S. investors. She is assisted by Morgan Greene and Cathy Wong. Both Greene and Wong have prepared their preliminary security selections and are meeting along with Palmer today for detailed security analysis and valuation. They have narrowed their focus to a few closed-end country funds and some firms from Switzerland, Germany, the U.K. and the emerging markets.
The initial decision is to choose between closed-end country funds and direct investment in foreign stock markets. Wong is in favor of country funds because:
1. Country funds provide immediate diversification.
2. Buying country funds is a better choice than direct investment for most emerging markets.
However, Wong has observed a premium to NAV that is prevalent in closed-end country funds. Wong is curious as to how the observed premiums would affect investments in such instruments.
In contrast to Wong, Greene is more inclined towards individual stocks and has started looking into their financial statements. One firm Greene is analyzing is a German conglomerate. Kaiser Corp. Kaiser has a history of growing by acquiring high-growth firms in niche markets. Exhibit 1 provides key financial information from Greene's analysis of Kaiser Corp.
Exhibit 1: Financial information-Kaiser Corp.

While going through their sample of emerging market stocks, Wong observed that these markets in general have high inflation and that sales for the stocks were extremely seasonal. Wong compensated by adjusting reported sales growth in the emerging market firms by deflating the sales using annual inflation adjustments. Wong also made upward adjustments to reported depreciation figures.
Wong suggested to her colleagues that they add a country risk premium to the discount rate they were using to evaluate emerging market stocks. She further suggested that they estimate country risk premiums by calculating the spread between the yield of U.S. government bonds and that of similar maturity local bonds.
Subsequently they started working on the financial projections for Emerjico, Inc., an emerging market stock. Their assumptions are given in Exhibit 2.
Exhibit 2: Key Assumptions-Emerjico

Based on Exhibit 1 and using the dividend discount model (DDM), the intrinsic value of Kaiser Corp is closest to:
A. $19.20 per share.
B. $18.35 per share.
C. $19.88 per share.
Answer: B
Explanation:
Explanation/Reference:
Explanation:
Number of shares equal 40 million.
(Study Session 11, LOS 40.d,o)

NEW QUESTION: 2
What are four capabilities that are inherent to all Cisco Smart Services? (Choose four.)
A. trending analysis
B. smart interactions
C. alerts
D. installed base management
E. device diagnostics
F. 24-hour network monitoring
Answer: B,C,D,E

NEW QUESTION: 3

A. Option D
B. Option A
C. Option B
D. Option C
Answer: D
Explanation:
File History is similar to Previous Versions in previous versions of Windows. It takes regular backups of your data and saves them to a separate disk volume or external drive. When
File History is enabled, it backs up all the system libraries and your custom libraries by default.
To restore a deleted folder, you can browse to the parent folder or library and select
Restore Previous Versions. The Previous Versions tab will list the previous versions that can be restored to its original location or restored to an alternative location.