The principal hires an agent to manage his restaurant. As a result, the agent hires two people to
serve as waitstaff. The hiring of the waitstaff is an example of what type of authority?
A) Express
B) No authority
C) Apparent
D) Ratified
E) Implied
E
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Dennis was involved in an accident. He believes the damage to his auto is $7,000. His insurer believes the damage is only $3,500. Which PAP provision is designed to handle disputes between the insurer and the insured over the amount of the loss?
A) other insurance provision B) agreed amount endorsement C) coinsurance provision D) appraisal provision
Gator Fabrics Inc. currently has zero debt (i.e., wd = 0). It is a zero growth company, and additional firm data are shown below. Now the company is considering using some debt, moving to the new capital structure indicated below. The money raised would be used to repurchase stock at the current price. It is estimated that the increase in risk resulting from the additional leverage would cause the required rate of return on equity to rise somewhat, as indicated below. If this plan were carried out, by how much would the WACC change, i.e., what is WACCOld - WACCNew? Do not round your intermediate calculations. wd40% Orig cost of equity, rs10.0% wc60% New cost of equity = rs11.0% Interest rate new = rd6.0% Tax rate40% ?
A. 2.29% B. 1.96% C. 2.04% D. 1.65% E. 2.16%
Which of the following is not a key element of an elevator pitch?
A) exit strategy B) growth metrics C) legal structure D) market opportunity
In the empirical study of a multifactor model by Chen, Roll, and Ross, a factor (the factors) that appeared to have significant explanatory power in explaining security returns was (were)
A. the change in the expected rate of inflation. B. the risk premium on corporate bonds. C. the unexpected change in the rate of inflation. D. industrial production. E. the risk premium on corporate bonds, the unexpected change in the rate of inflation, and industrial production.