NO.PZ2018062002000161
问题如下：
Which of the following statement is most accurate about the present value model?
选项：
A.The present value model can only be used when the stock pays dividends or is expected to pay dividends
B.The present value model can only be used when the stock pays dividends.
C.Present value models can be applied for stocks paying a dividend presently, are not expected to pay a dividend, or are expected to pay a dividend.
解释：
C is correct.
The dividend discount model can be used for a stock that pays the current dividend or the stock that is expected to pay dividends. FCFE can be used for stocks that do not or not expect to,pay dividends in the near future.
考点：GGM
绝对估值模型又被称为PV模型（现值模型）和DCF（折现现金流模型），这三个是一个意思，后两个是根据模型估值原理来命名的。按照折现不同的现金流划分：1、折现股利的模型叫做DDM（红利折现模型）。2、折现公司现金流的模型（两种现金流FCFE\FCFF），这个模型适用不发红利的公司或是站在控股股东的角度来估值时。所以现值模型既适合分红的公司，也适合不分红的公司。
怎么理解预期分红的意思？和分红潜力和分红能力不是一回事吧？
