RLG101H5 Final: Lecture Question 2 - exam

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21 Mar 2011

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Describe the prophetic experience of moses with god (yhwh) at mount sinai, as it appears in the hebrew bible. How does this story differ from moses" encounter with. In the hebrew bible moses" first encounter with god was when he was tending a flock of sheep at mount sinai. There the angel of the lord appeared in a flame of fire out of a bush. God called to moses out of the bush and told moses that he was the god of the patriarchs. Moses in a state of fear hides his face and asks god for his name to which god tells moses not to question his will. In the qur"an it is stated that moses was with his family rather than a flock of sheep. While out moses saw a fire in the direction of mount sinai, which turned out to be a tree rather than a bush.

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Please check my answers and let me know if they correct. Thanks

Exercise 1: Determining the Concentration of Acetic Acid

Data Table 1. NaOH Titration Volume.

	Initial NaOH Volume (mL)	Final NaOH Volume (mL)	Total volume of NaOH used (mL)
Trial 1	9 ml	0	9
Trial 2	9 ml	0.2	8.8
Trial 3	9 ml	0.3	8.7
	Average Volume of NaOH Used (mL) : 8.8

Data Table 2. Concentration of CH₃COOH in Vinegar.

Average volume of NaOH used (mL)	Concentration CH₃COOH in vinegar (mol/L)	% CH₃COOH in vinegar
8.8	72 mol/L	83%

Questions

The manufacturer of the vinegar used in the experiment stated that the vinegar contained 5.0% acetic acid. What is the percent error between your result and the manufacturerâs statement?

The acetic acid in vinegar for my experiment is 83% which is 1560% difference from the actual 5%.

What challenges would you encounter with the titration if you had used apple cider vinegar or balsamic vinegar as the analyte instead of white vinegar?

The white vinegar is made up of pure vinegar so the results will be more accurate than the apple cider vinegar or balsamic vinegar, the later has other "impurities" in them. The apple and balsamic has other properties which will interfere with the titration.

How would your results have differed if the tip of the titrator was not filled with NaOH before the initial volume reading was recorded? Explain your answer.

If the tip of the titration had not been filled with NaOH, the results would have been inaccurate because the tip contains about 0.5ml-1ml of volume. Priming the tip is important to ensure accurate results.

How would your results have differed if you had over-titrated (added drops of NaOH to the analyte beyond the stoichiometric equivalence point)?

If I had over-titrated, the percent composition of acetic acid would be greater in my results since my results would have indicated that it took a larger volume of NaOH to neutralize the acetic acid in vinegar.

If a 7.0 mL sample of vinegar was titrated to the stoichiometric equivalence point with 7.5 mL of 1.5M NaOH, what is the mass percent of CH₃COOH in the vinegar sample?

Not enough information! need the density of vinegar.

Why is it important to do multiple trials of a titration, instead of only one trial?

If only one trial is run, the results may not be entirely accurate and may contain mechanical or calculation errors. Running multiple trials helps ensure that no errors are made in the results and you have several results to compare to.

Question 1 of 25

You are planning to deposit $1,000 in a savings account. Account A compounds semiannually while account B compounds monthly. If both accounts have the same quoted annual rate of interest, you should choose _______________.

A. either account since both quote the same rate of interest

B. account A because it has a higher APR

C. account A because it has a higher EAR

D. account B because it is compounded more often

Question 2 of 25

You are evaluating two annuities. They are identical in every way, except that one is an ordinary annuity and the other is an annuity due. Which of the following is FALSE?

A. The ordinary annuity must have a lower future value than the annuity due.

B. The ordinary annuity must have a higher present value than the annuity due.

C. The two annuities will differ in present value by the amount (1+r).

D. The annuity due and the ordinary annuity will make the same number of total payments over time.

Question 3 of 25

What is the total present value of $80 received in one year, $300 received in two years, and $700 received in six years if the discount rate is 7%? Note: There is no direct formula for this kind of PV computation other than the basic equation, PV = FV/(1+r)t. 0 1 2 3 4 5 6 |-----------|----------|----------|----------|----------|---------| PV=? $80 $300 $700

A. $582.72

B. $681.68

C. $757.25

D. $803.24

Question 4 of 25

You need to borrow $23,000 to buy a car. The current loan rate is 7.9% APR compounded monthly and you want to pay the loan off in equal monthly payments over 5 years. What is the correct computation to find your monthly payment (C)?

A. C = $23,000 [PVIFA(7.9%/12, 60)]

B. $23,000 = C [1 - (1/1.0795)] / .079

C. $23,000 = C [1 - (1 /1.0065860)] / .00658

D. C = $23,000 [1 - (1/1.07960)] / .079

Question 5 of 25

The monthly mortgage payment on your house is $821.69. It is a 30-year mortgage at an APR of 6.5% compounded monthly. How much did you borrow? Note: PVIFA(r, t) = [1 â 1/(1+r)t] / r, and of course, you can use your calculator here.

A. $100,000

B. $115,000

C. $130,000

D. $140,000

Question 6 of 25

You just won the lottery and you are given two choices for your prize money: (1) A present lump sum of $20 million or (2) $1 million per year that you and your heirs will receive forever, beginning one year from now. If the appropriate interest rate is 5%, which should you choose and why? Note: PV of a perpetuity = C/r

A. Either, because both have the same present value.

B. (1) because it has a higher present value.

C. (2) because it has a higher present value.

D. (2) because it has a higher future value.

Question 7 of 25

What is the effective annual rate of 6% compounded quarterly? Note: EAR = (1 + APR/m)m â 1.0, where m is the number of compoundings in a year.

A. 6.00%

B. 6.14%

C. 7.50%

D. 24.00%

Question 8 of 25

At the end of each year for the next 8 years you will receive cash flows of $500. The initial investment is $2,500. Which of the following is the correct equation to find the rate of return (r) you are expecting from this investment?

A. $2,500 = $500 [1/(1+r)8 â 1] / r

B. $500 = $2,500 [PVIFA(r%,8)]

C. $500 = $2,500 [FVIFA(r%,8)]

D. $2,500 = $500 [1 â 1/(1+r)8] / r

Question 9 of 25

Consider the following cash flow stream. What is the correct way to find the present value of this cash flow stream at a 10% discount rate? 0 1 2 3 4 5 6 7 8 9 10 |----------|----------|----------|----------|----------|----------|---------|----------|----------|----------| PV=? $35 $35 $35 $35 $35 $35 $20 $20 $20 $20

A. PV = 35 [PVIFA(10%, 6)] + 20 [PVIFA(10%, 4)]

B. PV = 20 [PVIFA(10%, 10)] + 15 [PVIFA(10%, 6)]

C. PV = 35 [PVIFA(10%, 10)] â 15 [PVIFA(10%, 4)]

D. PV = 35 [PVIFA(10%, 6)]/(1.10)6 + 20 [PVIFA(10%, 4)]

Question 10 of 25

You plan to amortize your $10,000 loan by making five equal payments over the next 5 years. The interest rate is 5% compounded annually. What number should appear in (A) of your amortization table below? Note: PVIFA(5%, 5)=4.3295.

Beginning Ending Year Loan Balance Payment Interest Principal Loan Balance

----------------------------------------------------------------------------------------------

1 $10,000 xxxx xxx xxx xxxx

2 ( A ) xxxx xxx xxx xxxx

3 xxxx xxxx xxx xxx xxxx

4 xxxx xxxx xxx xxx xxxx

5 xxxx xxxx xxx xxx 0

A. $8,457.12

B. $8,190.26

C. $7,690.26

D. $6,809.74

Question 11 of 25

The rate of return required by investors for owning a bond to its maturity is called the

A. coupon rate.

B. current yield.

C. dividend yield.

D. yield to maturity.

Question 12 of 25

Which of the following statements regarding bond terminologies is INCORRECT?

A. The written, legally binding agreement between the corporate borrower and the lender detailing the terms of a bond issue is called the indenture.

B. The unsecured long-term debts of a firm are commonly called debentures.

C. An agreement giving the bond issuer the option to repurchase the bond at a specified price prior to maturity is called the zero provision.

D. A special account that sets aside periodic payments for bond redemption is called a sinking fund.

Question 13 of 25

Which of the following statements regarding bond trading is INCORRECT?

A. The long-term bonds issued by state and local governments in the United States are called municipal bonds.

B. The long-term bonds issued by the U.S. government are called Treasury Bills.

C. A bond that makes no coupon payments (and thus is initially priced at a deep discount) is called a zero coupon bond.

D. The price a dealer is willing to pay for a security is called the bid price.

Question 14 of 25

Which bond would most likely possess the least degree of interest rate risk?

A. 8% coupon rate, 12 years to maturity

B. 8% coupon rate, 15 years to maturity

C. 10% coupon rate, 10 years to maturity

D. 12% coupon rate, 8 years to maturity

Question 15 of 25

What is the value of a bond that will pay a total of 50 semiannual coupons of $80 each over the remainder of its life? The yield to maturity is 12%, p.a. Note: B = C [{1 â 1/(1+y)t}/y] + F /(1+y)t. Be careful about specifying t and y for this semiannual bond.

A. $ 734.86

B. $ 942.26

C. $1,135.90

D. $1,315.24

Question 16 of 25

Dizzy Corporationâs 10-year semiannual bond bearing a coupon rate of 12% is currently selling for $950. Given this information, which of the following is the correct valuation equation for this bond?

A. B = 120 [PVIFA(12%, 10)] + 1,000 [PVIF(12%, 10)]

B. $950 = 60 [PVIFA(r/2, 20)] + 1,000 [PVIF(r/2, 20)]

C. $950 = 120 [PVIFA(r, 10)] + 1,000 [PVIF(r, 10)]

D. B = 60 [PVIFA(6%, 20)] + 1,000 [PVIF(6%, 20)]

Question 17 of 25

To find the yield-to-maturity of the bond in Question #16 by trial and error, which number (as a semiannual YTM) should you pick as your first try?

A. 5%

B. 6%

C. 7%

D. Any number (like one of your favorite lotto numbers).

Question 18 of 25

George bought an investment one year ago and just calculated his return on investment. He found that his purchasing power has increased by 15% as a result of his investment. If the inflation over the period was 4%, his _______________. Note: (1+R) = (1+r)(1+h), but you donât need calculation here.

A. real return on investment is more than 15%

B. nominal return on investment is more than 15%

C. nominal return on investment is 11%

D. real return on investment is equal to 4%

Question 19 of 25

Which statement is INCORRECT given the following Treasury quotes? Maturity Coupon Bid Ask(ed) Chg Ask(ed) Yld ---------------------------------------------------------------------------------------- 5/15/2030 6.250 150.7188 150.7500 .8906 2.713

A. The amount of each coupon on this bond is $31.25.

B. The ask(ed) price is $1,507.50.

C. The dealer is willing to sell this bond to you for 150.7188% of par.

D. This bondâs ask(ed) price rose by $8.906 (i.e., eight dollars and 90+ cents) from the previous trading day.

Question 20 of 25

Which of the following statements regarding stock trading is INCORRECT?

A. Stock that has priority for dividends and bankruptcy liquidation is called priority equity.

B. The short alphabetic abbreviation for an exchange-listed stock by which the issue is identified in the market is called the stock's ticker symbol.

C. Capital gains yield is the rate of return based on the stock price increase.

D. Proxy voting is the voting procedure where shareholders grant authority to another individual to vote their shares.

Question 21 of 25

What would you pay for a share of ABC Corporation stock today if the next dividend will be $3 per share, your required return on equity investments is 15%, and the stock is expected to be worth $90 one year from now? (Remember the stock price today is the PV of its future cash flows, i.e., dividends and the future stock price, properly discounted)

A. $75.00

B. $78.26

C. $80.87

D. $90.00

Question 22 of 25

A preferred stock that pays a constant dividend of $1.50 currently sells for $10.71. What is the required rate of return? Note: P0 = D/R for a preferred stock.

A. 14%

B. 13%

C. 12%

D. 10%

Question 23 of 25

A stock with a constant dividend growth rate of 5% is expected to make a $2 dividend in one year. If you require a 12% return on your investment, which of the following statements is INCORRECT? Note: P0 = D1/(Râg) or R = (D1/P0) + g.

A. The current stock price is $28.57.

B. The dividend yield is 7%.

C. The capital gains yield is 12%.

D. The stock price will grow at an annual 5%.

Question 24 of 25

McIver, Inc. currently pays a $2 annual dividend. Investors believe that dividends will grow at 20% next year, 12% for the following year, and 6% annually thereafter. The required return is 10%. What is the current price of the stock?

A. $63.27

B. $60.80

C. $58.71

D. $54.90

Question 25 of 25

Which statement is INCORRECT given the following stock quotes? Prev Close 44.34 Dayâs Range 43.45 â 44.37 Bid 44.01 x 1,200 Volume 908,587 Ask 44.02 x 400 P/E 17.26 Beta 2.4 EPS 2.55 Market Cap 10.11B Div & Yield 0.50 (1.10%)

A. At this point someone was willing to buy 1,200 shares of this stock for $44.01 a share.

B. The yield-to-maturity for this stock is 1.1%.

C. On this trading day so far 908,587 shares changed hands.

D. The total value of this companyâs stock is (about) $10,110 million.

1 Which of the following is an advantage of having a single set of accounting standards used worldwide?

A. Reduced accounting costs for multinational corporations

B. Increased power of the FASB

C. Reduced number of multinational corporations on the NYSE

D. Increased diversity of accounting methods used by multinational corporations

2 The accounting standards in code law countries tend to be:

A. very detailed.

B. formulated by organizations such as the FASB.

C. stated generally without much guidance on accounting procedures.

D. very conservative.

3 What is the likely result when accounting rules are left up to professional associations

rather than being legislated by governmental bodies?

A. Very general accounting rules are created, as in code law countries.

B. Very detailed rules for practice are created, as in common law countries.

C. Very general accounting rules are created, as in common law countries.

D. Very detailed rules for practice are created, as in code law countries.

4Historical cost is the primary basis for asset valuation under U.S. GAAP.

Why is historical cost NOT as important in the accounting systems of Latin America as in the U.S.?

A. Historical costs are too difficult to calculate in the currencies used in Central and South America.

B. The countries of Latin America have experienced very high rates of inflation,

which would make historical costs meaningless to readers of financial statements.

C. There is very little foreign direct investment in the countries of Latin America,

so few assets need to be accounted for.

D. In Latin America, asset prices are very stable, making historical costs ,

so it doesn't matter which valuation basis is used.

5Which of the following statements is true about accounting convergence?

A. Convergence is a synonym for harmonization.

B. Convergence is the opposite of standardization.

C. Convergence, unlike harmonization, takes place over a period of time.

D. Convergence means developing high-quality standards in partnership with national standards.

6 Which of the following statements is believed to be true about accounting convergence

by proponents of convergence?

A. Convergence would not affect the feelings of nationalism.

B. Convergence is desirable because there is very little difference among capital markets

in different countries.

C. Convergence would help to raise the quality of accounting practices internationally.

D. None of the above statements is true.

7Why does the IASB believe that a principles-based approach to standard setting

is superior to a rules-based approach?

A. Detailed guidance or rules encourage accountants to look for ways around the rules

rather than trying to provide useful information.

B. Principles-based standard setting is less costly to undertake than rules

-based standard formulation.

C. It is desirable to have all corporations in all countries using the same accounting practice.

D. A conceptual framework for standard setting has demonstrated to encourage

the greatest economic development.

8 If a company chooses the revaluation model permitted in IAS 16 for fixed asset measurement:

A. annual revaluations must be performed on each class of assets.

B. it must update the valuation so that the balance sheet represents fair value

on the balance sheet date.

C. appraisals must be performed by an official of the IASB.

D. the depreciated replacement cost must be used as the fair value of the fixed asset.

RLG101H5 Final: Lecture Question 2 - exam

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