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NEW QUESTION: 1
Emily De Jong, CFA, works for Charles & Williams Associates, a medium-sized investment firm operating in the northeastern United States. Emily is responsible for producing financial reports to use as tools to attract new clients. It is now early in 2009, and Emily is reviewing information for O'Connor Textiles and finalizing a report that will be used for an important presentation to a potential investor at the end of the week.
Following an acquisition of a major competitor in 1992, O'Connor went public in 1993 and paid its first dividend in 1999. Dividends are paid at the end of the year. After 2008, dividends are expected to grow for three years at 11%: $2.13 in 2009, $2.36 in 2010, and $2.63 in 2011. The average of the arithmetic and compound growth rates are given in Exhibit 1. Dividends are then expected to settle down to a long-term growth rate of 4%. O'Connor's current share price of $70 is expected to rise to $72.92 by the end of the year according to the consensus of analysts' forecasts.
O'Connor's annual dividend history is shown in Exhibit 1.

De Jong is also considering whether or not she should value O'Connor using a free cash flow model instead of the dividend discount model.

The output from the regression appears in Exhibit 2.
De Jong determines that employing the CAPM to estimate the required return on equity suffers from the following sources of error:
* Estimation of the model's inputs (e.g., the market risk premium). The company's dividend payment schedule.
* The accuracy of the beta estimate.
* Whether or not the model is the appropriate one to use.
De Jong observes that two reputable statistical analysis firms estimate betas for O'Connor stock at 0.85 and 1.10. She concludes that the differences between her beta estimate and the published estimates resulted from her use of standard errors in her regression to correct for serial correlation; the other firms did not make a similar adjustment.
De Jong considers using adjusted beta in her analysis. Typically, her company uses 1/3 for the value of .

She determines
that her adjusted beta forecast will be closer to the mean reverting level using this value than it would be using a value of 1/3.
In what situation is it most appropriate for De Jong to employ a:
Dividend discount model? FCFE model?
A. Control perspective ;FCFE aligned with profitability
B. Non-control perspective ;FCFE aligned with dividend policy
C. Non-control perspective ;FCFE aligned with profitability
Answer: C
Explanation:
Explanation/Reference:
Explanation:
In order for che dividend discount model to produce a reasonable estimate of share price, the investor should have a non-control perspective. For the FCFE model to be appropriate, there should be a link between FCFE and profitability. (Study Session 12, LOS4l.c)

NEW QUESTION: 2
会社にはMicrosoft 365 E5サブスクリプションがあります。会社は、法的証拠開示要件を満たすためにeDiscoveryを使用する予定です。
以下の各ステートメントについて、ステートメントが真である場合は「はい」を選択します。それ以外の場合は、「いいえ」を選択します。
注：それぞれの正しい選択には1ポイントの価値があります。

Answer:
Explanation:

Explanation

References:
https://docs.microsoft.com/en-us/office365/securitycompliance/ediscovery#ediscoverycases
https://docs.microsoft.com/en-us/office365/securitycompliance/manage-ediscovery-cases
https://docs.microsoft.com/en-us/office365/securitycompliance/assign-ediscovery-permissions

NEW QUESTION: 3
アプリケーションには何百人ものユーザーがいます。各ユーザーは、アプリケーションにアクセスするために複数のデバイスを使用できます。開発者は、使用するデバイスに関係なく、これらのユーザーに一意の識別子を割り当てたいと考えています。一意の識別子を取得するために使用する必要があるのは次の方法のうちどれですか？
A. Amazon Cognitoを使用して開発者認証のIDを実装し、これらのIDの認証情報を取得します。
B. IAMユーザーとロールをユーザーに割り当てます。一意の識別子として一意のIAMリソースIDを使用してください。
C. ユーザーのIAMで生成されたアクセスキーIDを一意の識別子として使用しますが、秘密キーは保存しません。
D. Amazon DynamoDBにユーザーとそのデバイスのキーと値のペアとしてユーザーテーブルを作成します。これらのキーを一意の識別子として使用してください。
Answer: B

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