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皓月 · 2022年12月07日

这题的考点23年还会考吗？

  1. CFA II
  2. Equity

NO.PZ2018103102000155

问题如下：

Alan Chin, the CEO of Thunder Corporation, has asked his CFO, Constance Ebinosa, to prepare a valuation of Thunder for the purpose of selling the company to a private investment partnership. Thunder has been in business for 15 years and is privately owned by the original shareholders, none of whom are employed by the company. The partnership has expectations about Thunder similar to the current shareholders and management of Thunder. These investors expect to hold Thunder for an intermediate period of time and then bring the company public when market conditions are more favorable than currently. Chin is concerned about what definition of value should be used when analyzing Thunder. Given Chin’s concerns, the most appropriate defnition of value for Tunder is:   

选项：

A.

intrinsic value   

B.

investment value   

C.

fair market value   

解释：

A is correct. Both the current shareholders and the future shareholders (the private investment group) share the same expectations. It is most reasonable to assume that both are concerned with Thunder’s intrinsic value, which market prices should reflect when the company is brought public under less volatile market conditions. 


23年的考纲还有这个题吗？

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1 个答案

王园圆_品职助教 · 2022年12月07日

嗨，爱思考的PZer你好：


同学你好

这整个题干就是在描述一个分析师对于一个非上市公司的价值的考量，考察的其实就是ABC三个value的不同定义，2023年5月的讲义中依然是有相关内容的，所以还是属于考点的哦

以下为讲义截图




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虽然现在很辛苦，但努力过的感觉真的很好，加油！

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