1)  Company XYZ has the following on its financial statements: huge fixed assets, very large depreciation, a big top line (revenue), but big losses, stable cash flows, but when depreciation is added back it generates very large cash flows. This company is in the following industry:

2)  Company ABC has a large holding of short term securities and money market instruments on its asset side, very large liabilities, including large current liabilities, small equity base with its net worth significantly impacted by short term interest rate movements. Company ABC is in the following industry:

3)  The "Equity approach", as opposed to the "Entity approach" is most suitable for valuing:

4)  A private equity firm has invested in a coal mining company which is starting a new project. The investment will be done in three stages with the final stage completing in three years time. However, there is clause in the investment agreement which states that the private equity firm can abandon the project or sell the stake in the project at on the second and the third stage (second and third year). This is equivalent to:

5)  A callable bond is a

6)  The Miller-Modigliani (MM) formula values a company:

7)  A common error in discounted equity valuations (in the “equity approach” for valuation of companies) is:

8)  In the Accounting approach to valuation the value of the business is:

9)  If, NOLAT is Net Operating Profits less Adjusted Taxes, FCF is free cash flows, is the growth rate in NOPLAT, WACC is the Weighted Average Cost of Capital, then the Continuing Value (CV) of a company can be estimated as:

10)  The interest rate parity theory is predicated on the notion that the exchange rate (FX) between two countries is: