NISM Series XV Chapter 10: Valuation Principles 📚 Top 20 MCQs💯 Research Analyst скачать в хорошем качестве

NISM Series XV Chapter 10: Valuation Principles 📚 Top 20 MCQs💯 Research Analyst

🎯 NISM Series XV: Research Analyst | Chapter 10 - Valuation Principles | Top 20 Questions & Answers with Detailed Explanation 💡 India's Most Trusted Platform For NISM Exam Practice 🌐 Visit: https://nismseries.com/ 📞 Contact: +91 9907566149 +91 9485132399 📧 Email: help.nismseries@gmail.com 📚 Unlimited Mock Tests Available | Practice More, Score More! Master Chapter 10 with the most important MCQs! DCF Valuation, WACC, Terminal Value, FCFF vs FCFE, Gordon Growth Model (DDM), CAPM, Relative Valuation (P/E, P/B, EV/EBITDA), Margin of Safety & Intrinsic Value - all explained step-by-step for exam success. 🎯 Topics Covered in This Q&A Session: ✅ Intrinsic Value vs Market Price - Core Concept ✅ Absolute Valuation vs Relative Valuation Difference ✅ DCF (Discounted Cash Flow) Valuation Framework ✅ FCFF vs FCFE - Which Cash Flow to Use & When ✅ WACC - Weighted Average Cost of Capital Formula ✅ CAPM = Rf + β × (Rm - Rf) for Cost of Equity ✅ Terminal Value - Gordon Growth Perpetuity Formula ✅ Gordon Growth Model (DDM): P = D1 ÷ (Ke - g) ✅ Relative Valuation - P/E, P/B, EV/EBITDA Multiples ✅ EV = Market Cap + Debt - Cash & Equivalents ✅ Margin of Safety = Intrinsic Value - Market Price ✅ Price-to-Earnings (P/E) - Forward vs Trailing ✅ Beta = 0.5 → Defensive | Beta = 2 → Aggressive Stock ✅ Comparable Company Analysis (Comps) Method ✅ Sample Questions Solved with Tricky Options 📌 Key Concepts (Exam Important): Valuation Approaches (CRITICAL!): • Absolute Valuation = DCF, DDM (based on future cash flows) • Relative Valuation = Multiples like P/E, P/B, EV/EBITDA (peer comparison) • Asset-Based Valuation = Book value / liquidation value method • Most analysts use a combination of absolute + relative methods DCF Valuation (EXAM FAVOURITE!): • Step 1: Project future free cash flows (FCFF or FCFE) • Step 2: Determine discount rate (WACC for FCFF | Ke for FCFE) • Step 3: Calculate terminal value using Gordon Growth formula • Step 4: Sum PV of cash flows + PV of terminal value = Intrinsic Value • FCFF = Cash flow to ALL capital providers (equity + debt) • FCFE = Cash flow available ONLY to equity shareholders WACC & CAPM (CRITICAL!): • WACC = (Ke × E/V) + (Kd × (1-t) × D/V) • CAPM: Ke = Rf + β × (Rm - Rf) • Risk-free rate (Rf) = G-Sec / T-Bill yield • Market Risk Premium = (Rm - Rf) = Excess return of market over Rf • Higher beta = Higher required return (more risk = more reward expected) Relative Valuation Multiples: • P/E = Market Price ÷ EPS (most widely used multiple) • P/B = Market Price ÷ Book Value per Share • EV/EBITDA = Enterprise Value ÷ EBITDA (best for capital-intensive sectors) • EV = Market Cap + Total Debt - Cash & Cash Equivalents Margin of Safety: • Margin of Safety = Intrinsic Value - Current Market Price • Higher MoS = Lower risk (Benjamin Graham concept) • Buy when market price is significantly BELOW intrinsic value 🔔 Subscribe for complete NISM Series XV preparation! 💬 Doubts? Comment below! 👍 Found this helpful? LIKE & SHARE! #NISMSeriesXV #NISMSeries15 #ResearchAnalyst #Chapter10 #ValuationPrinciples #DCFValuation #WACC #CAPM #GordonGrowthModel #FCFF #FCFE #RelativeValuation #PERatio #EVtoEBITDA #MarginOfSafety #NISMMCQ #Top20Questions