CFA 2026 Level I Equity Investments Free Cash Flow Free Quiz 1

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CFA 2026 Level I Equity Investments Free Cash Flow Free Quiz 1

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CFA 2026 Level I Equity Investments Free Cash Flow Free Quiz 1

Practice CFA 2026 Level I Equity Investments MCQs from Free Cash Flow. Get instant results with Explanation.

General10 MCQs

1. What is free cash flow to the firm (FCFF)?

A. Cash flow available to debt and equity holders (FCFF).B. Cash flow available to equity holders only (FCFE).C. Cash flow from operations.D. Net income.

2. What is the cash flow available to equity holders called?

A. FCFFB. FCFEC. Operating cash flowD. Net income

3. What is the formula for FCFF?

A. Net income + depreciation - CAPEX - ΔWCB. CFO - CAPEX - interestC. EBIT*(1-t) + depreciation - CAPEX - ΔWCD. EBITDA*(1-t) + depreciation - CAPEX

4. What is the formula for FCFE?

A. FCFF - interest*(1-t) + net borrowingB. Net income + depreciation - CAPEXC. CFO - CAPEXD. FCFE = FCFF - interest*(1-t) + net borrowing

5. What discount rate is used in the FCFF model?

A. WACCB. Cost of equityC. Risk-free rateD. Market return

General10 MCQs

6. What discount rate is used in the FCFE model?

A. WACCB. Cost of equityC. Risk-free rateD. Market return

7. What does positive FCFF indicate?

A. Needs external fundingB. Has no cash flowC. Generates cash available for distributionD. Has high profitability but low cash flow

8. What does positive FCFE indicate?

A. Needs external equity financingB. Cannot pay dividendsC. Has negative free cash flowD. Can pay dividends or repurchase shares

9. How is FCFF calculated from net income?

A. Net income + depreciation - CAPEX - ΔWC + after-tax interestB. EBIT*(1-t) + depreciation - CAPEX - ΔWCC. EBITDA - CAPEX - ΔWCD. CFO - CAPEX

10. How is FCFE calculated from net income?

A. NI + depreciation - CAPEX - ΔWCB. NI + depreciation - CAPEX - ΔWC + net borrowing - after-tax interestC. FCFF - interest*(1-t) + net borrowingD. CFO - CAPEX - interest

📋 CFA - Test Online Practice Quizzes

CFA

Conducting Body: CFA Institute

Frequency: 4 times a year (February, May, August, November) | Time: 135 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 90 MCQs):

Alternative Investments: 8 MCQs
Corporate Issuers: 7 MCQs
Derivatives: 5 MCQs
Economics: 7 MCQs
Equity Investments: 12 MCQs
Ethics: 16 MCQs
Financial Statement Analysis: 11 MCQs
Fixed Income: 11 MCQs
Portfolio Management: 9 MCQs
Quant Methods: 6 MCQs

Merit Formula: -

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