for Dr.Loizeaux only

studentfinalexampostedjun52017.xlsx

Home >Business & Finance homework help >for Dr.Loizeaux only

Instructions

Instructions for Creating and Using the Quiz
	This template may be used for creating exams with 1 to 10 questions. One limitation of the exam is that you are limited to 4 multiple choice responses (no more, no less). Be sure to save a copy of this before you begin!
	Delete the text on the Quiz page … "Insert your logo here" (2 lines of text). If you wish, you may insert a logo here. Note that the instructions below were written for MS Excel version 1997-2003. If you're using version 2007, identify the corresponding instructions for hiding sheets, etc. The Quiz form has been protected so that students can't change anything. You will need to unprotect it to build your quiz. There is no password (you may want to add your own password before you distribute the quiz).
	Build the QUIZ and ANSWER SHEET, as follows:
	-	On the QUIZ sheet …
		- Click on the Exam Title block and enter the Title for your quiz.
		- Click on the Course Name block and enter the course name.
		- Click on each question ("Enter question here") and enter your questions.
		- Click on each response ("Enter response X here") and enter your responses.
		- Be sure to delete all the responses (X's) before you distribute the quiz. I've included
		sample responses for the first 3 questions so you can verify the Answer Sheet.
		- Note on length of questions and responses …
		- If any question or answer exceeds one line of text, expand the row as follows:
		- Right click on the row number and click Row Height.
		- Enter a new row height in multiples of 12.75 …
		- 25.5 for 2 lines of text
		- 38.25 for 3 lines
		- 51 for 4 lines, etc.
		- If your quiz contains less than 10 questions, delete those rows you do not need.
		(Repeat the same deletion on the Answer Sheet.)
	-	On the ANSWER SHEET … (don't change anything but the following)
		- In the RIGHT RESPONSE column (light blue), enter the letter corresponding to the correct
		answer for each question.
		- Don't forget to delete the rows for the questions you did not use. Otherwise the Score will
		not calculate correctly.
	To prepare the quiz to distribute to students …
	-	Hide the Answer Sheet
		- Click on the Answer Sheet
		- Click FORMAT / SHEET / HIDE
	-	Hide the Instruction Sheet
		- Click on the Instruction Sheet
		- Click FORMAT / SHEET / HIDE
	-	Protect the Quiz Sheet
		- Click TOOLS / PROTECTION / PROTECT SHEET
		(It isn't necessary to use a password.)
	-	Protect the workbook
		- Click TOOLS / PROTECTION / PROTECT WORKBOOK
		- Don't forget to enter a password, so the students can't find the correct answers. Note
		that if you forget this password, it cannot be recovered!
	-	Save the quiz … Use a descriptive name …
	-	Post the quiz as an attachment.
		- Be sure to tell students to enter their name and/or ID in the area provided.
		- Students may enter either a capital or lowercase X to indicate responses.
		- If the student enters something other than an x or X, an error message will appear and
		tell them to try again.
		- If the student provides more that 2 or more responses to a single question, a message
		will appear that they have entered too many responses. If the student leaves too many
		responses, the Answer Sheet will show that the student has answered this incorrectly.
		- Instruct students to save the file and return it to you as an attachment
		Newsgroup as an attachment).
	Grading
	-	The quiz will be graded automatically. The Student Score is found on the Answer Sheet.
	-	Unprotect the workbook:
		- Click TOOLS / PROTECTION / UNPROTECT WORKBOOK enter password that you originally
		provided and press ENTER.
	-	Uncover the Answer Sheet …
		- Click FORMAT / SHEET / UNHIDE, select "Answer Sheet" and click OK.
	-	You can use copy/paste to provide a copy of the Anwer Sheet to the student.
		- Select the entire bordered area on the Answer Sheet.
		- Hit CTRL-C (copy).
		- Open a blank MS Word file.
		- Select PASTE SPECIAL and select HTML format.
Developed by:
	Jerry D. Kilpatrick
	www.qzark.com
	[email protected]
	Voice Mail: 206-339-5457

mailto:[email protected] http://www.qzark.com/

Answer Sheet

Answer Sheet
Course:	ERROR:#REF!
Title:	FIN 444 MERGERS, ACQUISITIONS AND CORPORATE RESTRUCTURING
Click here and enter your name
Question Number	Right Response	Student's Response	Correct?
1	c	ERROR:#REF!	ERROR:#REF!
2	d	ERROR:#REF!	ERROR:#REF!
3	d	ERROR:#REF!	ERROR:#REF!
4	a	ERROR:#REF!	ERROR:#REF!
5	c	ERROR:#REF!	ERROR:#REF!
6	b	ERROR:#REF!	ERROR:#REF!
7	b	ERROR:#REF!	ERROR:#REF!
8	c	ERROR:#REF!	ERROR:#REF!
9	a	ERROR:#REF!	ERROR:#REF!
10	c	-	ERROR:#REF!
11	d		ERROR:#REF!
12	b		ERROR:#REF!
13	d		ERROR:#REF!
14	c		ERROR:#REF!
15	c	ERROR:#REF!	ERROR:#REF!
	Number Questions:	15
	Correct Responses:	ERROR:#REF!
	Student's Score:	ERROR:#REF!
ERROR:#REF!

Compatibility Report

Compatibility Report for Student fin444 final exam 06 1 11.xls
Run on 6/21/2011 12:44
The following features in this workbook are not supported by earlier versions of Excel. These features may be lost or degraded when opening this workbook in an earlier version of Excel or if you save this workbook in an earlier file format.
Significant loss of functionality	# of occurrences	Version
One or more cells in this workbook contain data validation rules which refer to values on other worksheets. These data validation rules will not be saved.	15
	Quiz'!B13:B16	Excel 97-2003
	Quiz'!B76:B79
	Quiz'!B69:B72
	Quiz'!B62:B65
	Quiz'!B55:B58
	Quiz'!B48:B51
	Quiz'!B41:B44
	Quiz'!B34:B37
	Quiz'!B27:B30
	Quiz'!B20:B23
	Quiz'!B112:B115
	Quiz'!B105:B108
	Quiz'!B98:B101
	Quiz'!B91:B94
	Quiz'!B84:B87
Minor loss of fidelity
Some cells or styles in this workbook contain formatting that is not supported by the selected file format. These formats will be converted to the closest format available.	18	Excel 97-2003

READ THIS

Instructions:

Enter your name in the area provided.

Enter the answer in Column A. You may enter either a capital (A,B,C,D E) or T for true and F for False to indicate your answer.

Save the file with your name and post to the "Assignments" tab no later than 11:59 p.m. on 6/5/2017 (Arizona Time)

This is an individual assignment-please do not collaborate on this exam.

Answers can be found in the textbook-this is the source for the final exam.

FINAL EXAM

FIN 444 MERGERS, ACQUISITIONS AND CORPORATE RESTRUCTURING
Student:	Click here and enter your name
ANSWER
HERE
	1. A divestiture is the sale of all or substantially all of a company or product line to another party for cash or securities. True or False
	2. The target company is the firm being solicited by the acquiring company. True or False
	4. A vertical merger is one in which the merger participants are usually competitors. True or False
	5. Joint ventures are cooperative business relationships formed by two or more separate parties to achieve common strategic objectives True or False
	6	U.S. antitrust regulators are most concerned about what types of transaction?
	a.	Alliances
	b.	Horizontal mergers
	c	Joint ventures
	d	Minority investments
	7	Which of the following are used by antitrust regulators to determine whether a proposed
	transaction will be anti-competitive?
	a.	Market share
	b.	Barriers to entry
	c.	Number of substitute products
	d.	A and B only
	e.	A, B, and C
	8	The U.S. Securities Act of 1933 requires that all securities offered to the public must be registered with the government. True or False
	9	Mergers and acquisitions are subject to federal regulation only. True or False
	10	Unlike the Sherman Act, which contains criminal penalties, the Clayton Act is a civil statute and allows private parties injured by the antitrust violations to sue in federal court for a multiple of their actual damages. True or False
	11	A tender offer is a proposal made directly to the target firm’s board as the first step leading to a friendly takeover. True or False
	12	A hostile tender offer is a takeover tactic in which the acquirer bypasses the target’s board and management and
		goes directly to the target’s shareholders with an offer to purchase their shares. True or False
	13	A standstill agreement is one in which the target firm agrees not to solicit bids from other potential
		buyers while it is negotiating with the first bidder. True or False
	14	A planning-based acquisition process consists of both a business plan and acquisition plan, which drive all subsequent phases of the acquisition process. True or False
	15	In a merger, the acquiring firm assumes all liabilities of the target firm. Assumed liabilities include all but which of the following?
		a. Current liabilities
		b. Long-term debt
		c. Warranty claims
		d. Fully depreciated operating equipment
		e. Off-balance sheet liabilities
	16	The negotiation process consists of all of the following except for
		a.	Refining valuation
		b.	Due diligence
		c.	Closing
		d.	Developing a financing plan
		e.	Deal structuring
	17	In calculating the weighted average cost of capital, the weights should be estimated using the market value of the target firm’s debt and equity. True or False
	18	The capital asset pricing model is commonly used to estimate the cost of equity. True or False
	19	Interest payments are tax deductible to firms in the U.S. True or False
	20	A firm’s beta is affected by the amount of debt a firm maintains relative to its equity. True or False
	21	The output of M&A models is only as good as the accuracy and timeliness of the numbers that are used to
		create the model and the quality of the assumptions used in making the projections. True or False
	22	Financial models are said to be in balance when
			a.	Net income is positive
			b.	Total assets equal total liabilities plus shareholders’ equity
			c.	Total assets equal total liabilities less shareholders’ equity
			d.	Cash flow is positive
			e.	None of the above
	23	Such legal structures as holding company, joint venture, and limited liability corporations are suitable only for acquisition vehicles but not post closing organizations. True or False
	24	Which of the following may be used as acquisition vehicles?
		a. Partnership
		b. Limited liability corporation
		c. Corporate shell
		d. ESOP
		e. All of the above
	25	Leveraged buyout firms use the unencumbered assets and operating cash flow of the target firm to finance the transaction. True or False
	26	LBO investors must be very careful not to overpay for a target firm because
		a. Major competitors tend to become more aggressive when a firm takes on large amounts of debt
		b. High leverage increases the break-even point of the firm
		c. Projected cash flows are often subject to significant error limiting the ability of the firm to repay its debt
		d. A and B only
		e. A, B, and C
	27	A spin-off is a transaction in which a parent creates a new legal subsidiary and distributes shares it owns in the subsidiary to its current shareholders as a stock dividend. True or False
	28	Which of the following is generally considered a motive for exiting businesses?
		a. Changing corporate strategy or focus
		b. Underperforming businesses
		c. Regulatory concerns
		d. Lack of fit
		e. All of the above
	29	Quotas and tariffs on imports imposed by governments to protect domestic industries tend to discourage foreign direct investment. True or False
	30	Which of the following is generally not a motive for firms to expand internationally?
		a. Desire to achieve geographic diversification
		b. Desire to accelerate growth
		c. Desire to consolidate industries
		d. Desire to avoid entry barriers
		e. Desire to enter countries with less favorable tax rates