利用资本资产定价模型确定股票资本成本时，有关无风险利率的表述正确的有（）。
A．选择长期政府债券的票面利率比较适宜
B．选择国库券利率比较适宜：
C．必须选择实际的无风险利率
D．政府债券的未来现金流，都是按名义货币支付的，据此计算出来的到期收益率是名义无风险利率
参考答案：D
解析：
应当选择上市交易的政府长期债券的到期收益率作为无风险利率的代表，所以AB错误。在决策分析中，有一条必须遵守的原则，即名义现金流量要使用名义折现率进行折现，实际现金流量要使用实际折现率进行折现，通常在实务中这样处理：一般情况下使用名义货币编制预计财务报表并确定现金流量，与此同时，使用名义的无风险利率计算资本成本。只有在存在恶性的通货膨胀或者预测周期特别长的两种情况下，才使用实际利率计算资本成本。
| 完形填空。 | |||
| Students learn their lessons in class. They sit in the classroom ___1___ their teachers. This is a way of learning. Is this the only way for students to learn? Of course not. There is ___2___ way to learn. That is, students can teach ___3___. For example, ___4___ you cannot remember something when you are doing your homework, what will you do? You can look at your book to ___5___ the answer. How to teach yourself? The first thing you must do is reading. Read something you are ____6___. The second is that you must ask yourself questions. A clever student is usually ___7___ at asking questions. The third is to answer the questions yourself by___8___hard, by reading books,and sometimes by asking other people. These are the ways of teaching yourself. If you ___9___doing like these for a long time, you are sure to have great ___10___ in your study. | |||
| ( )1. A. watching ( )2. A. another ( )3. A. ourselves ( )4. A. if ( )5. A. ask ( )6. A. tired of ( )7. A. well ( )8. A. writing ( )9. A. keep ( )10. A. information | B. talking to B. other B. yourselves B. as B. get B. interested in B. weak B. speaking B. begin B. questions | C. listening to C. the one C. itself C. unless C. use C. bored with C. bad C. thinking C. stop C. success | D. looking after D. no D. themselves D. because D. say D. puzzled at D. good D. listening D. enjoy D. inventions |