2021年CFA考试《Level Ⅰ》考试题库-CFA考试（Level Ⅰ）-Mock Exam 1 Afternoon Session-
财会经济-CFA特许金融分析师
单选题-If the risk-free rate of return is 5 percent and the market risk premium is 7 percent, the most appropriate conclusions about the value of the common stocks of Easy Company and Bravo Enterprises, respectively, are:Easy Company common stock Bravo Enterprises common stock
单选题
A.Undervalued Undervalued
B.Overvalued Overvalued
C.Overvalued Undervalued
我个人认为这个应该是：C
解析：The required rate of return for Easy is 5%+1.15
(7%) =13.05%. The required return is greater than the estimated return, so the stock is overvalued. Bravo's required rate of return is 5%+1 (7%) =12% (because the beta is 1.0, the return is the same as the market). The required return is less than the estimated return, so the stock is undervalued.
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