HKSIDataBase

Certified International Investment Analyst (CIIA)

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Question 1

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Written response · Self-assessment · 8 marks

Structured computation. A Hong Kong-listed manufacturer has market values of debt and equity of HKD 1,000 million and HKD 1,500 million respectively. Its debt consists of HKD 400 million of bank loans costing 6.0% before tax and HKD 600 million of bonds costing 7.2% before tax. The applicable corporate profits tax rate is 16.5%. The firm’s estimated cost of equity is 11.5%. All rates are annual.
(a) Calculate each debt component’s after-tax cost, the weighted average after-tax cost of debt and the WACC.
(b) A new project of equivalent business risk is expected to earn a 9.0% annual return. Using the WACC, advise whether it should proceed, and explain the role of the tax shield. Round percentages to two decimal places.

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Certified International Investment Analyst (CIIA)

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Frequently Asked Questions

Our published one-year support guarantee provides another round of course access free, without requiring an explanation. Contact [email protected] with your course and purchase details so we can locate the order and arrange repeat access under your purchase’s applicable promise. Existing purchase-specific rights remain unchanged. This is additional study access, not a promise of an examination pass.

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Even if you forgot to attend the exam;

Our published one-year support guarantee provides another round of course access free, without requiring an explanation. Contact [email protected] with your course and purchase details so we can locate the order and arrange repeat access under your purchase’s applicable promise. Existing purchase-specific rights remain unchanged. This is additional study access, not a promise of an examination pass.

All HKSIDataBase questions are provided in soft-copy version. Therefore, you may not need to pick up the papers or pay for the delivery cost. You may also enjoy our content immediately.

That is a great question and we are glad that you asked. HKSIDataBase is worth every dollar you invest into yourself for your career, reasons as follows:

  1. You Saved Thousands Of Dollars: There is no discount to retake HKSI LE exams, and most of the financial institutions do not allow claiming more than one exam fee for each licensing exam. You buy more than just insurance to secure a pass in the HKSI exam in your first attempt, but also to make study less stressful, time-consuming and save a lot of money.
  2. You Get The Best Service: Our colleagues attend the exams, carefully craft our own unique questions and put them in a sequence that will help you to better prepare for the examination and increase your probability of passing. The cost to maintain the quality of service is huge and the price we offer today is extremely affordable and is much cheaper than our competitors.
  3. Cheap Solution Will Cost You More: Candidates who went for HKD300 for 100 questions will regret once they fail the exam. The HKSI exam database is enormous; 100 or 150 questions will not cover all concepts and you will walk into the exam room with one arm tied. Why not go for the best and most trustworthy solution and vendor like HKSIDataBase in the first place?
  4. Less Than A Coffee A Day: We invest in the best education for you because we know it will pay off. Every dollar you invest today will pay the highest dividend ever – Guaranteed. For less than a coffee (McCafé, not Starbucks), we serve you with the best quality of service ever.
  5. Your Time Is Worth More Than You Think: The most expensive currency we have is time; this is the one thing that is irrevocable and you will never be able to buy one second of it in the future. This is why we take taxis, order in food, buy groceries online and pay a little premium for a functional mobile or computer, so that you can focus on other important tasks and spend more time with your loved one. HKSIDataBase strives to achieve this goal and helps you to study in the most effective way and achieve success.
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  8. The Real One-Year Guarantee: Although we do not think that you will need it, we offer a condition-free, one-year risk-free success guarantee. The guarantee provides additional course access; examination outcomes depend on your preparation.

P.S. We review our pricing from time to time. Act now and take your career to the next level today.

Your account access will be granted automatically after payment.

Please log in to your account and the study materials and exam bank menu tab under “HKSI Exam Papers” will be enabled to you according to the paper you subscribed to.

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The HKSI official website does not provide any past paper; we formulate our own unique practice questions via our exam specialist.

HKSIDataBase provides questions in both English and Chinese versions.

Certified International Investment Analyst (CIIA) (English) includes 3330 practice questions, matching the total listed on Our Offer.

The question bank is updated as course content changes. See View plans for the latest details.

We respect HKSI copyrights, and therefore, we do not provide the exact same questions and answers as examined in HKSI exams. We formulate our own unique questions and assist you to grasp the concepts and to better prepare for the examination.

The official HKSI examination bank is enormous; any attempt to memorize the questions and answers without understanding the underlying concepts will not help you to pass the HKSI exam. Our goal is to help you to understand the key concepts in the minimum amount of time with our structured practice questions.

Certainly. You can always continue your study anytime and anywhere via any mobile device and desktop as well.

Please contact our team to confirm reward eligibility, the amount and payment arrangements.

We understand that you might have a very tight schedule and your examination is very near. Therefore, our system will automatically open the database for you once you have completed the payment ( Our database link and communicate automatically with Stripe ).

Please understand that once the payment is completed, you will have full access to the database and therefore, due to the nature of our business, we do not have any refund policy.

Our published one-year support guarantee provides another round of course access free, without requiring an explanation. Contact [email protected] with your course and purchase details so we can locate the order and arrange repeat access under your purchase’s applicable promise. Existing purchase-specific rights remain unchanged. This is additional study access, not a promise of an examination pass.

For general questions: [email protected]

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Official pass rates vary by paper and reporting month. Use the current HKSI results for context and fresh practice to identify topics that need revision. Our learning tools support preparation; they do not guarantee an examination result.

HKSIDataBase is the perfect tool for you to prepare for the LE exam. Having said that, we are not a magic bullet; please do not expect to pass the exam without any effort. We can save you precious time and maximize your study efficiency, but eventually, candidates are required to make good use of our tools and take quizzes from our question bank.

Full access includes six bonus gifts: résumé-writing tips for your CV; grit and motivation lessons to build study habits; an information-overload guide to improve focus; flashcards for quick revision; a Pomodoro focus timer; and a video study course covering key concepts. Access them through your dashboard and course study tools after activation.

Certainly, any operating system including Mac, Windows or mobile devices such as iPad, iPhone, Android is all supported. Study anytime with ease.

Sure you can. You can always continue your study anytime and anywhere, just like reading a book with Kindle seamlessly – except you do not need one. You can study with your mobile or tablet on the go.

Yes. After payment you will automatically receive an official receipt stating clearly the place (HKSIDataBase), date & time, quantity of papers and amount you purchased. This receipt will be shown directly after payment and it will be emailed to you.

Yes. We offer a 10% discount when you purchase multiple products, whether it’s the same paper shared with friends/colleagues or different papers bundled together.

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Once your payment is confirmed, your course access is granted automatically and your access details are sent to your email. Please check your spam folder if you do not see the email. If you have any difficulty accessing your purchase, please contact our support team for help.

Some people may think that the more expensive it is, the better quality you will get. This may be true in some cases, but not here. We can charge our customers 2x or 3x more easily by adjusting our price and make more profit. But this is not fair and we won’t feel right doing so.

Our products are much more affordable than our competitors because you do not need to pay for the printing, delivery fee and unnecessary audio test bank. Besides, we truly believe that by offering a reasonable and fairly priced product, you will use our products when taking different HKSI papers and the IIQE exam. You will be overwhelmed by the quantity and quality of the questions you get and will be our next satisfied client.

Any vendor can prepare 5,000 questions for one paper and charge you over two thousand dollars or more. The fact is, you will not require 5,000 practice questions to pass an exam. A sufficient and adequate amount of practice questions, together with powerful key study notes from HKSIDataBase, is all you need.

No and you will not need one.

In the real examination, no one will read you the questions and answers as well. Besides, a talking test bank also means a lot more cost for you. In our past experience, it is proven that the best way to prepare for an exam is by practicing with a high quality test bank. HKSIDataBase covers all possible concepts that will be tested with an enormous question bank for you.

We also offer video courses with over 4 hours of guided lessons to help candidates grasp the key concepts. Watch the first lesson free on this page, then use the complete course alongside the question bank to strengthen your understanding.

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Yes. Our annual corporate plan provides 5–100 individual learner seats, a company dashboard and progress reports. Choose your papers and language versions and purchase directly online. 5–14 seats receive 20% off; 15–100 seats receive 25% off the published annual comparison price.

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Chinese free practice tests

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