IFSE Institute LLQP Q&A - in .pdf

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  • Exam Code: LLQP
  • Exam Name: Life License Qualification Program (LLQP)
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NEW QUESTION: 1
監査報告書に含めるための推奨事項を作成する際に関係のないものは次のうちどれですか?
A. 実装のコスト。
B. 根本的な原因。
C. フォローアップのタイミング。
D. 実現可能性。
Answer: C

NEW QUESTION: 2

A. Option A
B. Option B
C. Option D
D. Option C
Answer: C
Explanation:
Explanation
Explaination:
SNMPv1, SNMPv2c, and SNMPv3 each represent a different security model. The security model combines
with the selected security level to determine the security mechanism applied when the
SNMP message is processed.
The security level determines the privileges required to view the message associated with an SNMP trap. The
privilege level determines whether the message needs to be protected from disclosure or authenticated. The
supported security level depends upon which security model is implemented. SNMP security levels support
one or more of the following privileges:
SNMPv3 provides for both security models and security levels. A security model is an authentication strategy
that is set up for a user and the role in which the user resides. A security level is the permitted level of security
within a security model. A combination of a security model and a security level determines which security
mechanism is employed when handling an SNMP packet.
Reference: http://www.cisco.com/en/US/

NEW QUESTION: 3
Gulf Electric Company (GEC) uses only debt and equity in its capital structure. It can borrow unlimited amounts at an interest rate of 10 percent so long as it finances at its target capital structure, which calls for
55 percent debt and 45 percent common equity. Its last dividend was $2.20; its expected constant growth rate is 6 percent; its stock sells on the NYSE at a price of $35; and new stock would net the company $30 per share after flotation costs. GEC's tax rate is 40 percent, and it expects to have $100 million of retained earnings this year. GEC has two projects available: Project A has a cost of $200 million and a rate of return of 13 percent, while Project B has a cost of $125 million and a rate of return of 10 percent. All of the company's potential projects are equally risky. Assume now that GEC needs to raise $300 million in new capital. What is GEC's marginal cost of capital for evaluating the $300 million in capital projects and any others that might arise during the year?
A. 9.50%
B. 9.00%
C. 6.00%
D. 13.77%
E. 12.66%
Answer: A
Explanation:
Explanation/Reference:
Explanation:
k(d) (interest rate on the firm's new debt) = 10%;
k(d)(1 - T) (after-tax component cost of debt) = 10%(0.6) = 6%.
D/A = 55%
D(0) = $2.20
g = 6%
P(0) = $35
P(N) = $35
T (The firm's marginal tax rate) = 40%
Retained earnings = $100M; BP(RE) = $100M/ .45 = $222.22M
k(s) (component cost of retained earnings) = $2.33/$35 + 6% = 12.66%
k(e) (component cost of external equity) = $2.33/$30 + 6% = 13.77%.
WACC (Weighted Average Cost of Capital) (1) = 0.55(6%) + 0.45(12.66%) = 9.0% WACC(2) = 0.55(6%) +
0.45(13.77%) = 9.5%

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