Exam (elaborations)
Series 86,,,, questions and answers certified 2024
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Series 86,,,, questions and answers certified 2024
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Series 86Current Yield - correct answer ✔annual interest / market price
Conversion ratio - correct answer ✔Par Value / Conversion Price
Parity price of a bond - correct answer ✔MV (stock) x conversion ratio
Parity price of a stock - correct answer ✔MV (Bond) / Conversion Ratio
Equity Value - correct answer ✔= Total Shares Outstanding × Stock Price
= Enterprise value - Debt + Cash
Enterprise value - correct answer ✔= Equity Value + Debt + Preferred Stock
+ Noncontrolling Interest - Cash
= Equity Value + Debt - Cash*
* For companies with no preferred stock or noncontrolling interests
Net debt - correct answer ✔Total debt - cash
Gross profit margin - correct answer ✔Gross Profit/Sales
EBITDA Margin - correct answer ✔EBITDA/Sales
, Operating margin - correct answer ✔EBIT/Sales
Net profit margin - correct answer ✔Net Income/Sales
Assets - correct answer ✔= liabilities + shareholders' equity
Shareholders' equity - correct answer ✔= assets - liabilities
Total debt - correct answer ✔Loans + Bonds + Notes + Debentures + Capital
Leases + Short Term Debt + Current Maturities Of Long-Term Debt
Last twelve months (LTM) - correct answer ✔YTD Results + Previous Years
Results - Prior YTD (i.e. stub)
Basic earnings per share (EPS) - correct answer ✔Net income / reported
shares outstanding
Diluted EPS - correct answer ✔Net Income / Diluted Shares Outstanding
Price-to-earnings (P/E) - correct answer ✔Stock price / Earnings per share
Equity value / net income
Price-to-earnings Growth (PEG Ratio) - correct answer ✔(P/E) / Annual
Growth Rate
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