CFA 2026 Level II Vignettes Corporate Finance Business Valuation Free Quiz 2

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CFA 2026 Level II Vignettes Corporate Finance Business Valuation Free Quiz 2

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CFA 2026 Level II Vignettes Corporate Finance Business Valuation Free Quiz 2

Practice CFA 2026 Level II Vignettes Corporate Finance MCQs from Business Valuation. Get instant results with Explanation.

General10 MCQs

1. Vignette 3: Business Valuation - Case Study: An analyst is using multiples from similar public companies to value a private company. What is this approach called?

A. Comparable company analysis uses transaction prices of acquired companiesB. Comparable company analysis uses multiples from publicly traded comparable companiesC. Comparable company analysis uses DCFD. Comparable company analysis uses book value

2. What is precedent transactions analysis?

A. Precedent transactions analysis uses the same multiples as comparable company analysisB. Precedent transactions analysis uses DCFC. Precedent transactions analysis uses multiples from M&A transactions, often including a control premiumD. Precedent transactions analysis is the same as comparable company analysis

3. What is the advantage of using EV/EBITDA over P/E?

A. EV/EBITDA is less affected by capital structure and depreciation differencesB. EV/EBITDA is the same as the P/E ratioC. EV/EBITDA is not used in practiceD. EV/EBITDA is only used for financial services

4. What is the formula for the price-to-earnings (P/E) ratio?

A. P/E = stock price / book value per shareB. P/E = stock price / sales per shareC. P/E = EV / EBITDAD. P/E = stock price / earnings per share

5. How does an analyst select comparable companies in a market approach?

A. Any company can be used as a comparableB. Comparable companies should be similar in industry, size, growth, and riskC. Only companies in the same country are comparableD. Adjustments are never needed for comparables

General10 MCQs

6. Vignette 4: Business Valuation - Case Study: An analyst is valuing a holding company with significant tangible assets. What is book value and how is it used?

A. Book value is based on fair value of assetsB. Book value is the same as market valueC. Book value is the historical cost-based net asset value, often used as a floor valueD. Book value is not used in valuation

7. What is liquidation value?

A. Liquidation value is the net proceeds from asset sales in liquidationB. Liquidation value is the same as book valueC. Liquidation value is higher than going-concern valueD. Liquidation value is not used in valuation

8. What is replacement cost?

A. Replacement cost is the historical cost of assetsB. Replacement cost is the same as liquidation valueC. Replacement cost is the market value of assetsD. Replacement cost is the current cost to replace assets

9. When is the asset-based approach most appropriate?

A. The asset-based approach is appropriate for all companiesB. The asset-based approach is appropriate for asset-intensive companies and holding companiesC. The asset-based approach is not used for financial institutionsD. The asset-based approach is always the best approach

10. What types of values can be used in the asset-based approach?

A. The asset-based approach only uses book valuesB. The asset-based approach only uses liquidation valuesC. The asset-based approach can use book, adjusted book, or liquidation valuesD. The asset-based approach only uses replacement costs

📋 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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