CFA考试资料答案R27 Discounted Dividend Valuation - Answers.pdf
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Question #1 of 133 Question ID: 1209643
Which of the following is least likely a limitation of the two-stage dividend discount model (DDM)?
A) the length of the high-growth stage is di cult to measure.
B) most of the value is due to the terminal value.
C) Terminal value estimate is most sensitive to estimates of future dividends.
Explanation
The Terminal value in two-stage DDM is most sensitive to estimates of growth and required rate of
return. 7
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(Study Session 10, Module 27.1, LOS 27.a) q
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