Advanced Wealth Management Course (IIBF) - Paper 3
Part III: Ch 3: Introduction to Fundamental and Technical Analysis
Q1.
(I) Technical Analysis determines the worth of a business by its future expected earnings potential. (II) A Fundamental Analyst believes that the intrinsic value depends on the underlying business strength of the company.
Q2.
(I) Technical Analysis is the study of past price movements of the stock market and individual stocks to try and predict their future course. (II) Technical Analysis is based on an investor’s perception of the future of a company.
Q3.
Fundamental analysis suggests an economically rational methodology of buying an asset at a perceived discount to its intrinsic value.
Q4.
(I) Intrinsic Value > Market Price = Investment/Stock is Over Valued (II) Intrinsic Value < Market Price = Investment/Stock is Under Valued
Q5.
The required rate of return on an investment is determined by:
Q6.
All investments are affected by:
Q7.
The estimate of stream of expected returns would include:
Q8.
(I) For an investor, Intrinsic Value of any investment today is the present value of the total expected returns, discounted at his required rate of return. (II) The risk-free rate of return and the expected rate of inflation determine the Nominal risk-free rate.
Q9.
The Bottom-Up approach is about believing that both the economy and the industry play a significant role in the total returns one would get from individual companies and stocks.
Q10.
(I) The Top-Down approach is about a belief that one can find companies and stocks that are undervalued compared to their market price. (II) The intrinsic value of an investment represents that value of the investment at which an investor would get his required rate of return.
Q11.
The lesser the discount at which the stock price is quoting to his estimate of the intrinsic value of the stock, greater would be his perception of the under-valuation of the stock.
Q12.
(I) A Technical Analyst would study the prospects for sustained and profitable growth for the company. (II) Fundamental Analysts believe that stock prices move in trends that tend to persist.