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Free CFA Corporate Issuers Practice Questions & Answers

900 exam-style Corporate Issuers questions. Pick your answer, hit Check answer, and see the worked solution — free to start, no signup.

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Question 181

Risk‑free = 3%, market premium = 6%, size premium = 1.5%. Beta = 1.2. Cost of equity?

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Question 182

A firm’s WACC is 9%. It increases leverage, raising cost of equity from 11% to 14% and cost of debt from 6% to 7%. New weights: 40% equity, 60% debt. Tax = 20%. New WACC?

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Question 183

A firm’s cost of debt is 8%. Tax = 30%. After‑tax cost of debt?

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Question 184

A firm’s beta drops from 1.5 to 1.2 after deleveraging. Risk‑free = 4%, market premium = 5%. Change in cost of equity?

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Question 185

A firm’s cost of equity is 13%. It adds a country risk premium of 2%. Adjusted cost?

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Question 186

A firm’s synthetic rating table gives: - Coverage suggests BBB - Leverage suggests BB Industry weights: 60% leverage, 40% coverage. Final rating?

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Question 187

A firm’s USD WACC is 10%. Expected FX depreciation = 3%. Foreign‑currency WACC?

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Question 188

A firm’s cost of equity is 12%. Debt is 40% of capital at 7% pre‑tax. Tax = 25%. WACC?

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Question 189

A firm’s unlevered beta is 0.7. It increases D/E from 0.5 to 1.0. Tax = 20%. New levered beta?

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Question 190

A firm’s cost of debt is 6%. Default probability = 3%, loss given default = 60%. Expected cost of debt?

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Question 191

A firm’s cost of equity is 14%. It reduces leverage, lowering beta by 25%. Market premium = 6%. New cost?

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Question 192

A firm’s cost of debt is 9%. Tax = 22%. After‑tax cost?

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Question 193

A firm’s WACC is 8%. Project risk is 1.4× firm risk. Market premium = 5%. Project discount rate?

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Question 194

Revenue = 1,800 Margin = 17% Tax = 25% NOPAT?

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Question 195

WC = 10% of revenue Revenue grows 2,000 → 2,300 WC change?

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Question 196

Depreciation = 70 Capex = 120 Net investment?

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Question 197

FCF = 220 WACC = 10% Growth = 3% Terminal value?

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Question 198

ROIC = 12% WACC = 9% Capital = 3,000 Economic profit?

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Question 199

Tax shield = 32 Tax = 25% Interest expense?

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Question 200

EV = 6,000 Net debt = 1,800 Shares = 200 Equity per share?

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Question 201

ROE = 16% Retention = 55% Growth?

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Question 202

Dividend next year = 4 Cost of equity = 11% Growth = 3% Value?

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Question 203

Synergies = 50 annually Start year 2 Discount = 9% PV?

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Question 204

New debt = 300 at 8% Tax = 25% After‑tax interest?

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Question 205

Depreciation ↑ 30 Amortization ↑ 50 Tax = 30% Net income impact?

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Question 206

Leverage rises from 3× to 4.5× EBITDA = 700 New debt?

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Question 207

Coverage falls from 7× to 4× EBIT = 560 New interest?

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Question 208

Target WC = –40 Effect on EV?

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Question 209

Revenue ↑ 12% Margin falls from 22% → 19% Original revenue = 2,500 New operating profit?

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Question 210

Tax rate ↑ from 20% → 26% EBT = 600 Tax change?

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Free CFA Corporate Issuers Practice Questions & Answers

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Thank you