ফিন্যান্স, ব্যাংকিং ও বিমা ১ম পত্র · অধ্যায় ৭ — MCQ ও উত্তর

এইচএসসি প্রস্তুতি · ফিন্যান্স, ব্যাংকিং ও বিমা ১ম পত্র। এই অধ্যায়ে মোট 88টি প্রশ্ন আছে। নিচে প্রথম 10টি প্রশ্ন ও সঠিক উত্তর দেওয়া হলো।

এই অধ্যায়ে সব প্রশ্নে অনুশীলন করুন

1. Opportunity cost is associated with which type of capital?

   1. Common Stock
   2. Preferred Stock
   3. Debt Capital
   4. Retained Earnings

   সঠিক উত্তর: Retained Earnings

   ব্যাখ্যা: Retained earnings belong to shareholders; by keeping them, the firm denies shareholders the chance to invest elsewhere.

2. The cost of debt changes due to which of the following?

   1. Tax Rate
   2. Dividend
   3. Collateral
   4. Inflation

   সঠিক উত্তর: Tax Rate

   ব্যাখ্যা: Debt interest is tax-deductible; therefore, a change in the corporate tax rate directly alters the after-tax cost of debt ($K_d$).

3. The costs associated with selling securities are called:

   1. Administrative Cost
   2. Flotation (Issuance) Cost
   3. Fixed Cost
   4. Underwriting Cost

   সঠিক উত্তর: Flotation (Issuance) Cost

   ব্যাখ্যা: Flotation costs include all expenses like commissions, legal fees, and printing involved in issuing new stock/bonds.

4. In which case must personal taxes be adjusted?

   1. Cost of Common Stock
   2. Cost of Preferred Stock
   3. Cost of Debt
   4. Cost of Retained Earnings

   সঠিক উত্তর: Cost of Retained Earnings

   ব্যাখ্যা: When calculating the cost of retained earnings from the shareholders' perspective, personal income tax on dividends is often considered.

5. In the Dividend Growth Model, $K_e = \left[ \frac{D_1}{(P_0 - F)} + G \right] \times 100$, what is represented by 'F'?

   1. Growth Rate
   2. Current Market Price
   3. Required Return
   4. Flotation Cost

   সঠিক উত্তর: Flotation Cost

   ব্যাখ্যা: F' stands for Flotation costs, which are subtracted from the selling price to find Net Proceeds ($N_p$).

6. ABC Co. pays a 10 TK dividend ($D_1$) next year, growth is 7%, Market Price 100, Flotation 5%. What is the cost of new common stock?

   1. 16.53%
   2. 16.80%
   3. 17%
   4. 17.53%

   সঠিক উত্তর: 17.53%

   ব্যাখ্যা: $K_e = [10 / (100 - 5)] + 0.07 = [10/95] + 0.07 \approx 17.53\%$.

7. Venus Ltd. Capital Structure | Sources | Amount (TK) | Cost (%) | | :--- | :--- | :--- | | Bond | 1,00,000 | 14 | | Preference Share | 2,00,000 | 10 | | Common Share | 10,00,000 | 12 | | Retained Earnings | 2,00,000 | 12 | Corporate Tax Rate: 30%; Personal Tax Rate: 15% Question: Which source of the capital structure mentioned in the stem has the highest cost?

   1. 9.80%
   2. 10.20%
   3. 12.00%
   4. 14.00%

   সঠিক উত্তর: 10.20%

   ব্যাখ্যা: $K_r = K_e \times (1 - t_p) = 12\% \times (1 - 0.15) = 10.20\%$.

8. "Venus Ltd. Capital Structure | Sources | Amount (TK) | Cost (%) | | :--- | :--- | :--- | | Bond | 1,00,000 | 14 | | Preference Share | 2,00,000 | 10 | | Common Share | 10,00,000 | 12 | | Retained Earnings | 2,00,000 | 12 | Corporate Tax Rate: 30%; Personal Tax Rate: 15% Question: What is the cost of retained earnings for Venus Ltd. mentioned in the stimulus?"

   1. Bond
   2. Preferred Stock
   3. Common Stock
   4. Retained Earnings

   সঠিক উত্তর: Common Stock

   ব্যাখ্যা: Common stock is the riskiest for investors and has no tax shield, making it the most expensive source for the firm.

9. What is the minimum required rate of return for a company called?

   1. Flotation Cost
   2. Effective Interest Rate
   3. Cost of Capital
   4. Nominal Interest Rate

   সঠিক উত্তর: Cost of Capital

   ব্যাখ্যা: Cost of capital is the "hurdle rate" a firm must earn to satisfy its investors and maintain its value.

10. Which of the following are sources of long-term capital? (i) Debt (ii) Preferred Stock (iii) Common Stock.

    1. i & ii
    2. i & iii
    3. ii & iii
    4. i, ii & iii

    সঠিক উত্তর: i, ii & iii

    ব্যাখ্যা: All three are major components of a firm's long-term capital structure.