2018年CFA一级公司金融试题浅析
       CFA一级公司金融在一级考试中占比8% ，难度C ，相比较其他科目难度略为下降，但是也不要忽视这部分的拿分题目。整理几道公司金融试题帮助大家了解这门科目考试相关的考点和内容。　　更多关于2018年CFA学习,建议可以早点下载2017-2018最新CFA电子资料进行了解学习（点我下载） 
2018年CFA一级,CFA一级公司金融
　　CFA一级公司金融题1：
　　1. A company is considering building a distribution center on undeveloped land that it acquired more than ten years ago at a cost of $400,000. The company estimates the cost of putting in utilities, sewers, roads and other such costs of preparing the land for the distribution center at $200,000. Alternatively, the undeveloped land could be sold today to another company for $600,000. In *uating this capital project, the investment outlay associated with the use of the land by the distribution center will most likely be:
　　A. $400,000.
　　B. $600,000.
　　C. $800,000.
　　Answer: C
　　The investment outlay associated with the use of the land should reflect the opportunity cost of the foregone sale ($600,000) plus the incremental cost of preparing the land for use as a distribution center ($200,000). $600,000 plus $200,000 equals $800,000.
　　一级公司金融题2：
　　2. Two mutually exclusive projects have conventional cash flows, but one project has a larger NPV while the other project has a higher IRR. Which of the following least likely explains this conflict?
　　A. Reinvestment rate assumption.
　　B. Size of the projects’ initial investments.
　　C. Risk of the projects as reflected in the required rate of return.
　　Answer: C
　　Conflicting decision rules based on the NPV and IRR methods are related to the reinvestment rate assumption, the timing of the cash flows, or the scale of the projects. Differing required rates of return are not related to conflicting NPV and IRR decisions.
　　一级公司金融题3：
　　3.A company’s optimal capital budget most likely occurs at the intersection of the:
　　A. net present value and internal rate of return profiles.
　　B. marginal cost of capital and net present value profiles.
　　C. marginal cost of capital and investment opportunity schedule.
　　Answer: C
　　The point where the marginal cost of capital (MCC) intersects the investment opportunity schedule (IOS) is the optimal capital budget.
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