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Course 171025- A Practical Guide to Mergers, Acquisitions & Div.
  Final Exam
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171025v - A Practical Guide to Mergers, Acquisitions & Div.

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Accounting
10 CPE Credit Hours
4/22/2024
Final Exam
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Read 'Chapter 1: Mergers and acquisitions' & answer the following question(s):
1. Which of the following is not a characteristic of the current merger boom?
2. An example of a horizontal merger is
3. Which of the following is true regarding mergers?
4. Which of the following best illustrates an example of a horizontal merger?
5. A candy manufacturing company merging with a sugar processing company would be an example of a
6. All of the following are true of mergers except
7. The merger of Exxon and Mobil would be categorized as a
8. What is meant by “due diligence”?
9. What benefit(s) might a merger bring?
10. A good take-over candidate for a merger includes all the following except
11. In a merger, if common stock is exchanged, what would be the result(s)?Tax-free exchange (Yes/No)? EPS (increase/decrease)
12. In an effort to provide guidelines as to what type of business combinations would and would not be challenged in antitrust actions, the Justice Department developed the
13. When choosing a merger over an acquisition of stock to accomplish a business combination, which of the following is irrelevant to the decision?
14. Which of the following statements about acquisition of stock through tender offers is false?
15. The synergy of a business combination can be determined by
16. Which of the following will reduce average production costs following a merger?
17. All of the following are potential sources of tax savings in an acquisition except
18. The advantage of a tender offer in a corporate takeover is that
19. A corporate takeover may be attempted through a proxy contest. Which of the following is an SEC requirement concerning a proxy contest?
20. Which company(s) could Company A with 40% market share merge with without having the likelihood of challenge for antitrust violation become “likely”?Fast-Food Industry Market Share
21. What is the threshold for tax-free deals?
22. Which of the following best describes an effective merger?A. B. C. D.
23. Under M & A percent rules the threshold when the public must be notified of the purchaser intent is
24. Which of the following is not a reason for the objective of diversification within a merger?
25. When the value per share is based on historical cost rather than current value it is
26. In financing a merger the advantages of giving stock include all the following except
27. Advantages of leverage include all the following except
28. W Company buys B Company. W Company’s stock sells for $75 per share while B’s stock sells for $45. As per the merger terms, W offers $50 per share. What is the exchange ratio?
29. A defensive measure used by the target company when the target company buys back the stock accumulated by the raider at a premium price is
30. Which of the following defense maneuvers involves finding a third party who is willing to pay a higher premium, typically with “friendlier” intentions than the raider?
31. Adjusted earnings are net income adjusted for
32. An approach to valuation that is based on values of comparable companies in the industry and may establish the companies value based on actual sales that are indicative of the company’s current value which is:
33. A business is worth the discounted value of future cash earnings plus the discounted value of the expected selling price. Which of the following used this concept?
34. A common mistake in valuing the firm to be acquired in a business combination is
35. The appropriate discount rate to use in valuing a business combination is the
36. In assigning values to individual assets acquired and liabilities under the purchase method the assumed guidelines allow for the following except
37. If liabilities are assumed in a purchase the difference between the fixed rate of debt securities and the present yield rate for comparable securities is reflected as
38. The Q ratio of a firm equals
39. A firm is most likely to be a bargain for an acquirer if
40. Which of the following is true regarding the identities of the former companies (Company A and B) after a consolidation?
Read 'Chapter 2: Pros and cons of a merger' & answer the following question(s):
41. A business segment may be subject to divestiture if
42. The primary types of divestiture does not include
43. ___________________ is not a major reason to divest
44. A corporation issued a property dividend to its shareholders. The dividend was distributed in the form of 100% of the common stock of a subsidiary. This is known as a
45. ______________ is not a primary type of divestitures.
46. The typical divestiture plan will not include
47. Asset valuation methods do not include
48. Techniques used to account for divestiture with uncertainty include all the following except
49. Leveraged buyouts from the sellers perspective is a cash sale but from the prospective purchaser it is largely a
50. If a divestiture qualifies as a segment of a business the results of operations of the divested entity should be
Read 'Chapter 3: Disadvantages of a Merger' & answer the following question(s):
Read 'Chapter 4: Guidelines' & answer the following question(s):
Read 'Chapter 5: Planning for Mergers and Acquisitions' & answer the following question(s):
Read 'Chapter 6: Deciding on Acquisition Terms' & answer the following question(s):
Read 'Chapter 7: Grading Criteria' & answer the following question(s):
Read 'Chapter 8: Factors in Determining Price' & answer the following question(s):
Read 'Chapter 9: Acquisition Strategy and Process' & answer the following question(s):
Read 'Chapter 10: Divestiture' & answer the following question(s):
Read 'Chapter 11: Glossary' & answer the following question(s):
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