[{"data":1,"prerenderedAt":46},["ShallowReactive",2],{"q-sec_invest-115-2-020":3},{"exam":4,"examName":5,"chapterSlug":6,"question":7,"related":22},"sec_invest","證券商業務員資格測驗——證券投資與財務分析","c4",{"id":8,"exam":4,"session":9,"qno":10,"question":11,"options":12,"answer":17,"chapter":18,"freq":19,"explanation":20,"difficulty":21},"sec_invest-115-2-020","115-2",20,"某公司股票要求報酬率為 12%，若今年剛發放每股 4 元股利(即 D0=4)，且預期股利以 8%穩定成長，求該股票現值為多少？",[13,14,15,16],"40 元","84 元","108 元","126 元",2,"股票評價與基本分析",1,"股利以固定比率永續成長時適用固定成長股利折現模型：P0＝D1÷(r－g)，其中 D1 是明年的股利，必須把剛發放的 D0 先成長一期。算式：D1＝4×(1＋8%)＝4.32 元，P0＝4.32÷(12%－8%)＝4.32÷0.04＝108 元，故選 (C)。(A) 40 元與 (B) 84 元不對應任何合理算式；(D) 126 元亦然。常見陷阱是直接拿 D0 去除，得到 4÷0.04＝100 元，漏掉股利成長一期的動作；分母則務必用要求報酬率減成長率。","medium",[23,27,31,35,39,42],{"id":24,"question":25,"qno":26},"sec_invest-114-3-004","豐華公司為出口商，若預期臺幣會貶值，在銷售價格不變下，則投資人對其每股盈餘預測：",4,{"id":28,"question":29,"qno":30},"sec_invest-114-3-006","某公司配發 0.2 元股票股利，小明持有 1,000 股，假設除權前股價是 28.56 元，則除權後之股價為？",6,{"id":32,"question":33,"qno":34},"sec_invest-114-3-007","有一股票於 1 月 1 日以 60 元的價格買進並持有，直到同年 12 月 31 日以 75 元賣出，期間該股票曾發放 3 元現金股利，則其報酬率為？",7,{"id":36,"question":37,"qno":38},"sec_invest-114-3-019","成長股通常為：",19,{"id":40,"question":41,"qno":10},"sec_invest-114-3-020","公司執行高股票股利政策時，可能會造成什麼影響？",{"id":43,"question":44,"qno":45},"sec_invest-114-3-049","平溪公司為造紙業，主計總處預計明年經濟景氣會變好，則投資人對其每股盈餘預測（假設其他條件不變）？",49,1785904142151]