(ii) the factors that should be considered in the design of a reward scheme for BGL; (7 ma
(ii) the factors that should be considered in the design of a reward scheme for BGL; (7 marks)
(ii) the factors that should be considered in the design of a reward scheme for BGL; (7 marks)
__________ you said is true, there are still other factors to be considered.
A.Supposed that what
B.Supposing what that
C.Granted that what
D.Considered what that
(ii) Explain the organisational factors that determine the need for internal audit in public listed companies.
(5 marks)
(ii) Briefly discuss FOUR non-financial factors which might influence the above decision. (4 marks)
(ii) Briefly discuss TWO factors which could reduce the rate of return earned by the investment as per the
results in part (a). (4 marks)
A、I II III IV
B、I II III
C、II III IV
D、III IV
A.where one will be while studying
B.one's examination results
C.additional allowance one ii able to get
D.whether one lives with his parents or in a hall of residence
A.I only
B.I and II only
C.II and III only
D.I, II, and III
Many people imagine that Alzheimer's disease (早老性痴呆病), the degenerative disorder that ultimately leaves sufferers with total memory loss, is an inevitable result of aging. This is not so. 【C1】______ the risks of contracting the disease increase with age, there are many elderly people【C2】______ memories are perfect. Most of us are so ill-【C3】______ about all forms of memory loss that we label everything as "Alzheimer's'. Alzheimer's disease itself can【C4】______ people as young as 30 and can progress either quickly or slowly. It can also【C5】______ the blame for other non-degenerative conditions such as deep depression.【C6】______ , only an examination of the brain tissue during an autopsy (解剖) can produce an accurate【C7】______ of the disease.
The causes of Alzheimer's are unknown. They may be either【C8】______ or environmental. A study in 1996 of 13,000 people whose parents or siblings had the disease showed they had five times【C9】______ chance of succumbing 【C10】______ the age of 80 than those with no family【C11】______ of the problem.
There are other factors, however. In a study of identical twins, it was found that only about half of the twin pairs developed Alzheimer's and, when both twins【C12】______ . it, they did so as【C13】______ as 15 years apart. The possibility【C14】______ environment plays a part was【C15】______ by another 1996 study, this time of two groups of elderly Japanese men. One group lived in Hawaii, the other in Japan. The Hawaiian group had a much higher【C16】______ of the disease.
Aluminum has been blamed for the development of Alzheimer's. This is because a high level of aluminum has been found in the brains of sufferers. The disease was first diagnosed at the beginning of the 20th century. It was at this time【C17】______ aluminum was becoming widely available for use in cooking pots.
Memory loss, difficulty in【C18】______ familiar tasks, and problems with abstract thinking are all【C19】______ of the onset of the disease. One unusual feature is its impact on language. It attacks nouns first,【C20】______ verbs. Grammar is one of the last things to go.
【C1】
A.As
B.Since
C.While
D.In spite of
The chief executive officer (CEO) of Faoilean Co has just returned from a discussion at a leading university on the ‘application of options to investment decisions and corporate value’. She wants to understand how some of the ideas which were discussed can be applied to decisions made at Faoilean Co. She is still a little unclear about some of the discussion on options and their application, and wants further clarification on the following:
(i) Faoilean Co is involved in the exploration and extraction of oil and gas. Recently there have been indications that there could be significant deposits of oil and gas just off the shores of Ireland. The government of Ireland has invited companies to submit bids for the rights to commence the initial exploration of the area to assess the likelihood and amount of oil and gas deposits, with further extraction rights to follow. Faoilean Co is considering putting in a bid for the rights. The speaker leading the discussion suggested that using options as an investment assessment tool would be particularly useful to Faoilean Co in this respect.
(ii) The speaker further suggested that options were useful in determining the value of equity and default risk, and suggested that this was why companies facing severe financial distress could still have a positive equity value.
(iii) Towards the end of the discussion, the speaker suggested that changes in the values of options can be measured in terms of a number of risk factors known as the ‘greeks’, such as the ‘vega’. The CEO is unclear why option values are affected by so many different risk factors.
Required:
(a) With regard to (i) above, discuss how Faoilean Co may use the idea of options to help with the investment decision in bidding for the exploration rights, and explain the assumptions made when using the idea of options in making investment decisions. (11 marks)
(b) With regard to (ii) above, discuss how options could be useful in determining the value of equity and default risk, and why companies facing severe financial distress still have positive equity values. (9 marks)
(c) With regard to (iii) above, explain why changes in option values are determined by numerous different risk factors and what ‘vega’ determines. (5 marks)
Tha bag ______ books ______ mine.
A.full of; are
B.full of; is
C.full in; are
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