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NEW QUESTION: 1
Tom Vadney, CFA, is president and CEO of Vadney Research and Advisors (VRA), a large equity research firm that specializes in providing international investment and advisory services to global portfolio managers. He has a staff of five junior analysts and three senior analysts covering industries and firms across the Americas, Europe, and Asia-Pacific regions.
In a recent meeting with an institutional portfolio manager, Vadney is asked to review the differences between U.S. GAAP and International Financial Reporting Standards (IFRS) as well as provide a comprehensive industry analysis for the telecommunications sector in Europe and the Asia-Pacific region.
Vadney asks Maria Mnoyan, a senior analyst covering the sector, to research the requested information for the client meeting.
Prior to the meeting, Vadney and Mnoyan meet to prepare for the client presentation. They first discuss differences between U.S. GAAP and IFRS. Mnoyan states that although there will be increasing convergence between the two accounting standards, one major difference currently is that IFRS permits either the "partial goodwill" or "full goodwill" method to value the goodwill and the noncontrolling interest under the acquisition method. U.S. GAAP requires the full goodwill method. Vadney adds that U.S. GAAP requires equity method accounting for joint ventures, while under IFRS, proportionate consolidation is preferred, but the equity method is permitted.
Vadney then asks Mnoyan to share her findings on the telecommunications sector. Mnoyan first presents an overview of the competitive forces that characterize the sector in the two regions. In particular, she notes that the sector in both regions is characterized by high switching costs. Vadney asks how high switching costs would affect the bargaining power of buyers and suppliers.
Mnoyan firmly believes that investing in companies located in developing countries provides strong growth potential through technological change and increases in capital, labor, and savings that contribute to higher dividend levels, even if the dividend growth rate is unaffected.
In her research report Mnoyan identifies several countries and industries with attractive investment potential. She notices that the telecommunications sector in one of the countries is characterized by a duopoly. The $50 billion telecom industry in another country in her analysis is dominated by h\e firms with market shares of $10 billion each.
Finally, Vadney and Mnoyan discuss investment opportunities in specific firms. Mnoyan values firms using both the discounted cash flow model and the franchise value method. She makes the following statements on the franchise value method:
Statement 1: A higher asset turnover ratio increases the franchise P/E ratio, one of the components of the intrinsic P/E value.
Statement 2: When firms pay out profits as dividends at a higher rate, a firm's intrinsic P/E value decreases.
Mnoyan's description of the growth potential of developing countries is best described through the:
A. neoclassical growth theory.
B. endogenous growth theory.
C. multifactor model theory.
Answer: B
Explanation:
Explanation/Reference:
Explanation:
The neoclassical growth theory relates technological change to increases in real GDP, savings, and capital, which in turn lead to increased investment and higher dividends. Note, however, that higher dividend levels do not imply an increase in the long-run growth in dividends, and higher savings do not affect a country's long-run economic growth rate.
The endogenous growth theory holds that technological advances lead to sustainable economic growth.
These advances allow developed countries to realize both higher dividend levels and long-term dividend growth rates through increased savings.
Multifactor models are used in assessing asset returns and risk exposures through multiple factors such as industry and country. Factor sensitivities are estimated through multiple linear regression. Note that there is no theory called "multifactor model theory." (Study Session 11, LOS 36.a)

NEW QUESTION: 2
Which three options can initiate scheduled or rendezvous meetings hosted on a Cisco TelePresence Server? (Choose three.)
A. Cisco TelePresence Manager
B. Cisco VCS
C. video endpoint
D. Cisco TelePresence Server
E. Cisco Unified Communications Manager
F. Cisco TMS
Answer: C,D,F

NEW QUESTION: 3
Where can permissions to access the Detailed 360 Reports be defined?
Please choose the correct answer.
Response:
A. Manage Permission Groups
B. Manage Permission Roles
C. Form Template Settings
D. Security Permission Reports
Answer: C

NEW QUESTION: 4
Which two options must be completed prior to attempting to create a routed network profile?
(Choose two.)
A. An NSX logical router must exist
B. An external IP address must exist.
C. The user must be logged in as a network architect.
D. An external network profile must exist.
Answer: A,D
Explanation:
Explanation/Reference:
Explanation:
On-demand network created during provisioning. Routed networks contain a routable IP space divided
across subnets that are linked together using Distributed Logical Router (DLR).
Every new routed network has the next available subnet assigned to it and is associated with other routed
networks that use the same network profile. The virtual machines that are provisioned with routed
networks that have the same routed network profile can communicate with each other and the external
network.
You can use IP ranges obtained from the supplied VMware IPAM endpoint or from a third-party IPAM
service provider endpoint that you have registered and configured in vRealize Orchestrator, such as
Infoblox IPAM. An IP range is created from an IP block during allocation.
A routed network profile defines a routable space and available subnets.
See Creating a Routed Network Profile For an On-Demand Network.