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Q1 The Australian stock exchange operates as. an open out-cry market B. an organised electronic market C. tertiary market D.

Q1 The Australian stock exchange operates as.A. an open out-cry market B. an organised electronic market C. tertiary market D. none of the above

Q2 Which ONE of the following statements is NOT true about preference shares? A. Preference share dividend payments are fixed obligations of the company, similar to the interest payments on corporate bonds. B. Preference share holders rank below ordinary shareholders in a liquidation. C. Preference shareholders have limited voting privileges relative to ordinary share owners. D. While preference shares are legally classified as perpetuities, some issues do have a fixed maturity.

Q3 A fast growth share has the first dividend (t=1) of $2.33. Dividends are then expected to grow at a rate of 9 percent p.a. for a further 2 years. It then will settle to a constant-growth rate of 3.1 percent. . If the required rate of return is 13 percent, what is the current price of the share? (to the nearest cent)a. $25.95 b. $45.88 c. $23.54 d. $45.62

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