Trắc Nghiệm Tài Chính Doanh Nghiệp Tiếng Anh HUB là bộ đề ôn tập thuộc học phần “Corporate Finance” giảng dạy bằng tiếng Anh tại Trường Đại học Ngân hàng TP.HCM (Ho Chi Minh University of Banking – HUB). Bộ đề được biên soạn bởi ThS. Lê Minh Tâm, giảng viên Khoa Tài chính – HUB, vào năm 2024. Nội dung đề tập trung vào các chủ đề cốt lõi của tài chính doanh nghiệp như phân tích báo cáo tài chính, quản trị nguồn vốn, đánh giá dự án đầu tư, cấu trúc vốn và chi phí sử dụng vốn, tất cả được trình bày bằng tiếng Anh. Các câu hỏi trắc nghiệm bậc đại học khách quan giúp sinh viên rèn luyện cả kiến thức chuyên môn lẫn khả năng đọc hiểu thuật ngữ tài chính bằng tiếng Anh.
Trên nền tảng dethitracnghiem.vn, đề Trắc Nghiệm Tài Chính Doanh Nghiệp được phân chia theo từng chuyên đề, có kèm đáp án và phần giải thích chi tiết bằng tiếng Anh. Sinh viên có thể làm bài không giới hạn, lưu đề yêu thích và theo dõi tiến trình học tập qua biểu đồ kết quả cá nhân. Đây là công cụ học tập lý tưởng giúp sinh viên Đại học Ngân hàng TP.HCM nâng cao kiến thức tài chính bằng tiếng Anh, luyện kỹ năng chuyên ngành song ngữ và chuẩn bị hiệu quả cho các kỳ thi học phần quốc tế hóa.
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Trắc Nghiệm Tài Chính Doanh Nghiệp Tiếng Anh HUB
1. What is the most fundamental and overarching financial objective of a corporation in a market economy?
A. To maximize annual accounting profits for shareholder reports.
B. To maximize the wealth of the existing shareholders of the firm.
C. To maximize market share and sales revenue in the marketplace.
D. To minimize the operational and financial expenses of the firm.
2. The agency problem in corporate finance arises from the conflict of interest between which two groups?
A. Between the shareholders and the creditors of the company.
B. Between the company and government regulatory agencies.
C. Between the managers (agents) and the shareholders (principals).
D. Between the majority shareholders and minority shareholders.
3. An initial investment of $100 million earns a compound interest rate of 8% per year. What will be the future value of this investment after 5 years?
A. $140.00 million.
B. 142.56million.
C.146.93 million.
D. $151.24 million.
4. A firm’s liquidity ratios are used to assess which aspect of its performance?
A. The ability to generate profits from its sales and assets.
B. The level of efficiency in managing and utilizing its assets.
C. The ability to meet its short-term financial obligations.
D. The extent to which debt is used in the firm’s capital structure.
5. When the required rate of return (YTM) for a bond is higher than its coupon rate, the bond will trade at what price?
A. It will trade at its original par value.
B. It will trade at a price lower than par value (at a discount).
C. It will trade at a price higher than par value (at a premium).
D. The trading price of the bond cannot be determined.
6. The Dividend Discount Model (DDM) for valuing common stock is based on which fundamental assumption?
A. The value of the stock depends solely on retained earnings.
B. The company will always maintain a constant dividend growth.
C. The value of a stock is the present value of its future dividends.
D. The company’s dividends must be paid entirely in cash.
7. Why is the Net Present Value (NPV) criterion considered the “gold standard” in project appraisal?
A. It directly measures the increase in value to shareholders.
B. It always provides the same project selection decision.
C. It is easier to calculate in practice than other metrics.
D. It does not require an estimation of the cost of capital.
8. Conflict in project selection between mutually exclusive projects can occur when using NPV and IRR. What is the primary reason for this?
A. Differences in the estimation of the projects’ cash flows.
B. Differences in the determination of the cost of capital.
C. Differences in the scale and timing of cash flows.
D. Differences in the operational lifespan of the projects.
9. What is the most significant limitation of the Payback Period when used for project evaluation?
A. It is too complex to calculate and interpret the results.
B. It requires having information about the cost of capital.
C. It is only suitable for application on small-scale projects.
D. It ignores the time value of money and later cash flows.
10. A firm has total assets of $2,000 billion, total debt of $800 billion, and a net income of $150 billion. What is this firm’s Return on Equity (ROE)?
A. 7.50%.
B. 18.75%.
C. 10.25%.
D. 12.50%.
11. When analyzing a project’s cash flows, which of the following is considered a sunk cost and should be excluded?
A. The cost of installing and testing the new machinery.
B. Market research expenses incurred before the project decision.
C. The decline in sales of an old product caused by the new.
D. The salvage value of the old equipment being replaced.
12. How does the depreciation tax shield affect a project’s cash flows?
A. It directly reduces the project’s operating cash flow.
B. It increases cash flow by reducing the amount of taxes paid.
C. It has no effect whatsoever on the project’s cash flows.
D. It only affects accounting profit, not the cash flow.
13. The risk that cannot be eliminated by diversifying a portfolio is known as what?
A. Unsystematic Risk.
B. Business Risk.
C. Systematic Risk.
D. Financial Risk.
14. What does the beta coefficient of a stock measure in the Capital Asset Pricing Model (CAPM)?
A. The total risk of that stock compared to other stocks.
B. The expected rate of return the stock will provide to investors.
C. The risk premium that investors demand for holding the stock.
D. The volatility of the stock’s return relative to the market.
15. According to the CAPM, if the risk-free rate is 4%, the market risk premium is 7%, and a stock’s beta is 1.2, what is the expected return on this stock?
A. 11.0%.
B. 12.4%.
C. 8.4%.
D. 15.2%.
16. What is the primary purpose of the fundamental principle of portfolio diversification?
A. To completely eliminate the market risk of the portfolio.
B. To minimize the unsystematic risk of the investment portfolio.
C. To maximize the expected rate of return of the portfolio.
D. To ensure the portfolio’s return is always higher than market’s.
17. What does a firm’s Weighted Average Cost of Capital (WACC) represent?
A. The cost the company must pay for its short-term borrowings.
B. The rate of return that shareholders require on their investment.
C. The minimum rate of return that new projects must generate.
D. The cost of issuing new stock to the public for the company.
18. Which of the following statements about the cost of equity is most accurate?
A. It is generally lower than the firm’s pre-tax cost of debt.
B. It can be estimated using the CAPM or dividend growth model.
C. It is an explicit cost recognized on the income statement.
D. It is not affected by the firm’s level of business risk.
19. Why is the after-tax cost of debt lower than the pre-tax cost of debt?
A. Because interest expense is a tax-deductible expense.
B. Because creditors demand a lower rate of return.
C. Because the government subsidizes interest rates.
D. Because the risk of debt is lower than the risk of equity.
20. A company has a capital structure of 40% debt and 60% equity. Its pre-tax cost of debt is 10%, cost of equity is 15%, and the tax rate is 20%. What is the company’s WACC?
A. 13.0%.
B. 11.8%.
C. 12.2%.
D. 12.5%.
21. What is the effect of using financial leverage on a firm?
A. It reduces business risk but increases the firm’s financial risk.
B. It magnifies the volatility of earnings per share (EPS) and risk.
C. It always increases the value of the firm under all circumstances.
D. It only has a positive impact on the firm when profits are low.
22. What does the Modigliani and Miller (M&M) theory on capital structure, in a world with taxes, propose?
A. The value of a firm is independent of its use of debt.
B. The value of a levered firm is lower than an unlevered firm.
C. The optimal capital structure is one that uses no debt.
D. The value of a firm increases as its level of debt increases.
23. The trade-off theory of capital structure suggests that the optimal capital structure is determined at which point?
A. Where the after-tax cost of debt reaches its minimum level.
B. Where the benefit from the interest tax shield is maximized.
C. Where the tax shield benefit is balanced by financial distress costs.
D. Where the firm is financed with 100% equity.
24. According to the dividend irrelevance theory, how does the dividend payout decision affect firm value?
A. It does not affect the firm’s value in the absence of taxes.
B. It increases firm value because dividends are a good signal.
C. It decreases firm value by reducing cash for reinvestment.
D. It is always preferred by investors over retained earnings.
25. What is the direct consequence of a company’s stock repurchase program?
A. It reduces shares outstanding and can increase EPS.
B. It increases shares outstanding and reduces the stock price.
C. It reduces shareholders’ equity but does not affect EPS.
D. It is a negative signal about the company’s future.
26. A person needs to receive an annuity of $20 million per year for the next 4 years. With a discount rate of 10% per year, how much money does this person need to have at the present time?
A. 92.82million.
B.63.40 million.
C. $80.00 million.
D. $75.50 million.
27. Working capital management in a business involves the management of which items?
A. It only involves the management of fixed assets.
B. It only involves the management of long-term debt.
C. The management of current assets and current liabilities.
D. The management of all assets and liabilities on the balance sheet.
28. What does a shorter cash conversion cycle indicate about a company’s operational efficiency?
A. The company has difficulty in collecting its accounts receivable.
B. The company is holding too much inventory relative to its needs.
C. The company requires more external financing for operations.
D. The company manages its working capital more efficiently.
29. What is the most fundamental legal characteristic that distinguishes a corporation from a sole proprietorship?
A. The operational objective is to maximize profit.
B. The owners have limited liability for the firm’s debts.
C. The freedom to conduct business in legally permitted industries.
D. The mandatory requirement to have an annual financial audit.
30. When a company issues shares to the public for the first time (an IPO), this transaction takes place in which market?
A. The Primary Market.
B. The Secondary Market.
C. The Money Market.
D. The Derivatives Market.
