[{"data":1,"prerenderedAt":46},["ShallowReactive",2],{"q-fin_plan_tools-46-024":3},{"exam":4,"examName":5,"chapterSlug":6,"question":7,"related":22},"fin_plan_tools","理財規劃人員專業能力測驗——理財工具","c5",{"id":8,"exam":4,"session":9,"qno":10,"question":11,"options":12,"answer":17,"chapter":18,"freq":19,"explanation":20,"difficulty":21},"fin_plan_tools-46-024","46",24,"B 公司今年度每股現金股利 5 元，且股利成長率為 4%，乙股東要求之股票報酬率為 12%，預期每股盈餘 2.5元，依現金股利折現模式計算，其本益比應為何？",[13,14,15,16],"16 倍","21 倍","20 倍","26 倍",3,"股票投資",1,"依現金股利折現模式,股價=下期股利÷(要求報酬率−股利成長率)=5×(1+4%)÷(12%−4%)=5.2÷0.08=65元;本益比=股價÷每股盈餘=65÷2.5=26倍,故選(D)。分母(12%−4%)代表淨折現效果,成長率愈接近報酬率、本益比愈高。最常見的失誤是直接用今年股利5元代入,漏乘(1+成長率)換算成下期股利,會低估股價與本益比,其餘選項多由此類誤算而來。","hard",[23,27,31,35,39,43],{"id":24,"question":25,"qno":26},"fin_plan_tools-46-020","台灣股票交易中，下列何者為一般交易與盤後定價交易之最大差別？",20,{"id":28,"question":29,"qno":30},"fin_plan_tools-46-021","下列何項非屬財務比率分析？",21,{"id":32,"question":33,"qno":34},"fin_plan_tools-46-022","假設其他因素固定不變，下列那一項會降低股票之本益比？",22,{"id":36,"question":37,"qno":38},"fin_plan_tools-46-023","有關股票評價之高登模式(Gordon)，下列何者正確？",23,{"id":40,"question":41,"qno":42},"fin_plan_tools-46-025","依 CAPM 方法，假設某股票之β(Beta)係數為 2，股市的預期報酬率為 15%，無風險利率為 5%，則該股票報酬率為下列何者？",25,{"id":44,"question":45,"qno":26},"fin_plan_tools-47-020","由下往上之股票分析模式主要適用何種市場情況？",1787293949279]