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IR-OG：第11-20题 练习册详情

IR-OG：第11-20题
  • 题目数量：10题
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练习册题目信息

1

IPO Pricing

Researchers recently examined the initial public offering (IPO) -- a private firm's first sale of stock shares to the public -- of firms listed on Kenya's Nairobi Stock Exchange (NSE) between 1994 and 2008. During this time, the number of IPOs listed per year varied from zero to four. The researchers wanted to examine the extent to which four different variables -- investor sentiment, firm size, board prestige, and firm age -- affected the IPO stock share price, which is set by the firm. They hypothesized that all four variables would show a strong positive correlation with this IPO asking price. However, after examing the firms listed, they were surprised to find that none of the variables showed a strong positive correlation with IPO pricing, and in fact investor sentiment and board prestige both showed a strong negative correlation.

The researcheres also discovered that nearly all of these IPOs were underpriced by an average of 50 percent, which is to say the IPO share prices were about half of what the share prices were at the close of the first day of trading. Such underpricing constitutes a loss to the listed firm because the firm could have immediately raised more money with a higher price. The researchers noted that firms should take care to set an IPO price low enough to capture investor interest but high enough to generate sufficient capital for the firm.

1994-2008 IPOs

The table lists companies examined by the researchers, that had their IPO on the NSE between 1994 and 2008, together with the IPO share price, first day closing price, and percent underpricing. Prices are in Kenyan shillings.

GMAT、gmat题库、gmat模考、gmat考满分

For each of the following statements, select Inferable if the statement is reasonably inferable from the Information provided about the NSE IPOs. Otherwise select Not inferable.

No Yes
IPOs of firms with prestigious boards were more likely to be underpriced than those of other firms.
Firestone East Africa set its IPO price slightly lower than it should have.
At least one of the firms examined by the researchers did not have an underpriced IPO.
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2

IPO Pricing

Researchers recently examined the initial public offering (IPO) -- a private firm's first sale of stock shares to the public -- of firms listed on Kenya's Nairobi Stock Exchange (NSE) between 1994 and 2008. During this time, the number of IPOs listed per year varied from zero to four. The researchers wanted to examine the extent to which four different variables -- investor sentiment, firm size, board prestige, and firm age -- affected the IPO stock share price, which is set by the firm. They hypothesized that all four variables would show a strong positive correlation with this IPO asking price. However, after examing the firms listed, they were surprised to find that none of the variables showed a strong positive correlation with IPO pricing, and in fact investor sentiment and board prestige both showed a strong negative correlation.

The researcheres also discovered that nearly all of these IPOs were underpriced by an average of 50 percent, which is to say the IPO share prices were about half of what the share prices were at the close of the first day of trading. Such underpricing constitutes a loss to the listed firm because the firm could have immediately raised more money with a higher price. The researchers noted that firms should take care to set an IPO price low enough to capture investor interest but high enough to generate sufficient capital for the firm.

1994-2008 IPOs

The table lists companies examined by the researchers, that had their IPO on the NSE between 1994 and 2008, together with the IPO share price, first day closing price, and percent underpricing. Prices are in Kenyan shillings.

GMAT、gmat题库、gmat模考、gmat考满分

For each of the following statements, select Supported if the statement is supported by the information provided about NSE IPOs. Otherwise select Not supported.

Yes No
The board of Safaricom was likely considered more prestigious than that of Co-Operative Bank at the time of their IPOs.
Kenya Re and Eveready were approximately the same size firms at the time of their IPOs.
When their IPO prices were set, investor sentiment was likely more favorable toward Kengen than toward Scangroup or Eveready.
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3

IPO Pricing

Researchers recently examined the initial public offering (IPO) -- a private firm's first sale of stock shares to the public -- of firms listed on Kenya's Nairobi Stock Exchange (NSE) between 1994 and 2008. During this time, the number of IPOs listed per year varied from zero to four. The researchers wanted to examine the extent to which four different variables -- investor sentiment, firm size, board prestige, and firm age -- affected the IPO stock share price, which is set by the firm. They hypothesized that all four variables would show a strong positive correlation with this IPO asking price. However, after examing the firms listed, they were surprised to find that none of the variables showed a strong positive correlation with IPO pricing, and in fact investor sentiment and board prestige both showed a strong negative correlation.

The researcheres also discovered that nearly all of these IPOs were underpriced by an average of 50 percent, which is to say the IPO share prices were about half of what the share prices were at the close of the first day of trading. Such underpricing constitutes a loss to the listed firm because the firm could have immediately raised more money with a higher price. The researchers noted that firms should take care to set an IPO price low enough to capture investor interest but high enough to generate sufficient capital for the firm.

1994-2008 IPOs

The table lists companies examined by the researchers, that had their IPO on the NSE between 1994 and 2008, together with the IPO share price, first day closing price, and percent underpricing. Prices are in Kenyan shillings.

GMAT、gmat题库、gmat模考、gmat考满分

The discussion of the researchers' study of Kenyan IPOs refers to "board prestige" primarily to

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4

An archaeologist studying Artifacts A–D is interested in whether Artifact C is older than Artifact A.

Select an assertion involving Artifact A and an assertion involving Artifact C that together imply the assertion "Artifact C is older than Artifact A." Make only two selections, one in each column.

Assertion involving Artifact A Assertion involving Artifact C
Artifact A is older than Artifact B.
Artifact A is older than Artifact D.
Artifact B is older than Artifact A.
Artifact B is older than Artifact D.
Artifact C is older than Artifact D.
Artifact C is older than Artifact B.
73人做过此题 平均耗时为1min35s 平均正确率为 89%
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5

Twenty-five adults reported the amount of time each spent exercising during a particular week. The results are summarized in the graph as follows: 5 respondents reported exercising for less than 1 hour, 3 respondents reported exercising for at least 1 hour but less than 2, and so on.

Based on the given information, use the drop down menus to most accurately complete the following statements.

GMAT、gmat题库、gmat模考、gmat考满分

The least possible values for the mean of the numbers of hours of exercising reported for the week is .

The number of respondents who exercised on average less than one-half hour per day during the week is between .

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6

A recent census revealed the age distribution of the residents of Town Y, shown in the graph. Since the census was performed, no resident has moved into or away from Town Y and there have been no recorded births or deaths.

GMAT、gmat题库、gmat模考、gmat考满分

Based on the given information, use the drop-down menus to most accurately complete the following statements.

The census indicates that times as many residents were children or teenagers as were seniors.

If, at the time of the census, there were 540 more people aged 0-39 than people aged 40 or greater, then the population of Town Y at the time of the census was .

78人做过此题 平均耗时为57s 平均正确率为 15%
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7

In Country X, a building is in Category A if it has a roof height of at least 350 meters. In the graph, each of the 22 Category A buildings is represented by two points arranged vertically: one representing the comparison of the height of the building's roof to the number of floors (red circles), the other representing the comparison of the height of the building's roof to the mean height per floor (black squares).

Based on the information, use the drop-down menus to most accurately complete the following statements about Category A buildings in Country X.

GMAT、gmat题库、gmat模考、gmat考满分

The building with the greatest mean height per floor has a roof height between meters.

There is a correlation between the number of floors and the mean height per floor.

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8

Archaeologist: there were several porcelain-production centers in 18th-century Britain, among them Bristol, Plymouth, and New Hall. Each center developed a unique recipe for its porcelain that might include flint glass, soapstone, bone ash, clay, quartz, and so on. We will therefore be able to determine, on the basis of compositional analysis, where the next cup we recover from this archaeological site was made.

Indicate two different statements as follows: one statement identifies an assumption required by the archaeologist's argument and the other identifies a possible fact that, if true, would, provide significant logical support for the required assumption.

Possible fact Assumption required
Other cups have been recovered from the archaeological site, all of which were made of porcelain
Some of the cups recovered from the archeological site were not made of porcelain
The next cup to be recovered from the site will likely be made of porcelain
Porcelain makers often traveled between centers, experimenting with one another's recipes
There was considerable overlap of materials in the recipes used by the various centers
Most porcelain in 18-century Britain was made at one of the several centers
5394人做过此题 平均耗时为8min35s 平均正确率为 77%
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9

Project

At a certain company, successful projects proceed through 8 stages—Stages A through H. An active project is one that is currently in one of these 8 stages. If a stage of a project is completed during a given day, the project is immediately moved to the next stage. At the end of each day, the current stage of each active project is recorded. Some stages require as little as 1 day of work, and none requires more than 3 days of work. A project is said to be delayed if it spends more time at a stage than is required to complete the work. If a project is canceled, the current stage for the day is recorded as Stage X, and the project is no longer considered an active project.

Stages and Clusters

For any given project, the diagram shows the progression of the stages of the project as well as the department of the individuals responsible for each stage. The stages—divided into the initial, intermediate, and final clusters—are each assumed to constitute some nominal fixed percentage (NFP) of the project's lifetime. In the diagram, each cluster percentage is the sum of the NFPs for the stages within the cluster.

GMAT、gmat题库、gmat模考、gmat考满分

A status history report—a report containing the daily project status for any project that was active within a given timeframe—is produced by a computer program. Below is the report that was generated at the end of the day today, which is the fifth day of Week 7. The report shows, for example, that Project 75039 began on the second day of Week 6, spent 3 days each in Stages A and B, and has been in its current stage, Stage C, for 3 days.

GMAT、gmat题库、gmat模考、gmat考满分

For each of the following projects, select Delayed if it can be inferred from the information in the tabs that the project must have experienced a delay at one or more stages. Otherwise, select Not necessarily delayed.

Delayed Not necessarily
74154
74854
75745
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10

Project

At a certain company, successful projects proceed through 8 stages—Stages A through H. An active project is one that is currently in one of these 8 stages. If a stage of a project is completed during a given day, the project is immediately moved to the next stage. At the end of each day, the current stage of each active project is recorded. Some stages require as little as 1 day of work, and none requires more than 3 days of work. A project is said to be delayed if it spends more time at a stage than is required to complete the work. If a project is canceled, the current stage for the day is recorded as Stage X, and the project is no longer considered an active project.

Stages and Clusters

For any given project, the diagram shows the progression of the stages of the project as well as the department of the individuals responsible for each stage. The stages—divided into the initial, intermediate, and final clusters—are each assumed to constitute some nominal fixed percentage (NFP) of the project's lifetime. In the diagram, each cluster percentage is the sum of the NFPs for the stages within the cluster.

GMAT、gmat题库、gmat模考、gmat考满分

A status history report—a report containing the daily project status for any project that was active within a given timeframe—is produced by a computer program. Below is the report that was generated at the end of the day today, which is the fifth day of Week 7. The report shows, for example, that Project 75039 began on the second day of Week 6, spent 3 days each in Stages A and B, and has been in its current stage, Stage C, for 3 days.

GMAT、gmat题库、gmat模考、gmat考满分

For each of the following clusters of stages, select Yes if at least two active projects are currently in a stage within that cluster. Otherwise, select No.

Yes No
Initial cluster
Intermediate cluster
Final cluster
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