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NEW QUESTION: 1
Which three of the following are recommended minimum required building blocks for a Cisco midmarket BYOD solution? (Choose three.)
A. Cisco ASR 100 Series Router
B. Catalyst 4500-X Series Switch
C. Cisco virtual wireless LAN controller
D. Cisco Aironet 1600 Series Access Point
E. Cisco Business-Class Email
Answer: B,C,D
Explanation:
Explanation/Reference:
Explanation:
NEW QUESTION: 2
A. Option A
B. Option B
C. Option D
D. Option C
Answer: A
NEW QUESTION: 3
Joe, a hacker, has discovered he can specifically craft a webpage that when viewed in a browser crashes the browser and then allows him to gain remote code execution in the context of the victim's privilege level. The browser crashes due to an exception error when a heap memory that is unused is accessed. Which of the following BEST describes the application issue?
A. Integer overflow
B. SQL injection
C. Click-jacking
D. Input validation
E. Race condition
F. Use after free
Answer: F
Explanation:
Use-After-Free vulnerabilities are a type of memory corruption flaw that can be leveraged by hackers to execute arbitrary code.
Use After Free specifically refers to the attempt to access memory after it has been freed, which can cause a program to crash or, in the case of a Use-After-Free flaw, can potentially result in the execution of arbitrary code or even enable full remote code execution capabilities.
According to the Use After Free definition on the Common Weakness Enumeration (CWE) website, a Use After Free scenario can occur when "the memory in question is allocated to another pointer validly at some point after it has been freed. The original pointer to the freed memory is used again and points to somewhere within the new allocation. As the data is changed, it corrupts the validly used memory; this induces undefined behavior in the process."
NEW QUESTION: 4
Jane Bowman, CFA, and Frank Shrum, CFA, are analysts for Brookstonc Advisors. Brookstone recommends investments in United States and global markets. Bowman and Shrum are responsible for analyzing investments and conducting cyclical analysis in developed and emerging markets.
Bowman is examining the country of Waltonia for a possible investment. Currently, the country's economy is beginning to recover from a recession. Businesses have increasing confidence in the economy, inflation is falling, the government is stimulating the economy, and the economy has just started to expand.
Bowman identifies this is as the recovery stage of the business cycle and states that since inflation is falling, investors should put their money in bonds.
In terms of the business cycle, Waltonia has grown slower than its neighboring country of Bergamo, where the economy is in the early stages of an upswing. Bergamese businesses are confident and inventories are increasing. Bowman states that an investment in commodities or stocks would be advised because when the economy grows, these assets will rise in price.
Shrum is examining the value of a company in the United States using the franchise value model. In it, he will generate an intrinsic P/E ratio that can be multiplied against the firm's projected earnings to derive a value for the company. The intrinsic P/E value consists of the tangible P/E value, which represents the firm's static value, and a franchise P/E value which represents the firm's growth value. The franchise P/E value then consists of the franchise factor, which incorporates the required return on new investments, and the growth factor, which factors in the present value of the excess return from new investments. He applies this analysis to the firm of Salisbury Materials, which has the following characteristics:
Return on Equity 20%
Dividend Payout Ratio 40%
Required Return on Equity 16%
In light of the increased inflation in the United States due to increased commodity prices. Bowman is examining the effect of inflation on the P/E ratio. She states that when there is not full-flow-through of inflation, a firm in a low inflation country will have a higher P/E ratio than one in a high inflation country.
She provides the following example of inflation flow-through. If the real required return is 9%, inflation is
4%, and the inflation flow-through rate is 80%, then the P/E ratio will be 10.2.
Shrum states that when valuing an emerging market, an investor should adjust their projections for the higher inflation risk. He states that the analyst should adjust the cash flows rather than the discount rate for the increased risks from emerging markets, such as political risk and macroeconomic risk. Bowman adds that there are several arguments that can be made and makes the following statements.
Statement 1: One argument is that companies respond differently to the risk in their country. For example, exporters would benefit from a weaker local currency but importers would be hurt by a depreciating local currency. Adjusting the discount rate by the same amount for all companies within a country would misstate the influence of country risk on each company.
Statement 2: Additionally, country risk is one-sided and asymmetric in that the country risk to foreign investors is much greater than that to local investors. So if a single discount rate were used to discount cash flows, then the valuations would be inaccurate for either the foreign investors or the local investors.
Shrum follows up with Bowman's analysis. He states that an alternative to adjusting the cash flows is to calculate a weighted average cost of capital for the emerging country firm and add a country risk premium to it. This discount rate would then be applied against unadjusted cash flows to value the emerging market firm. Regarding this analysis, he makes the following statements.
Statement 3: When estimating the percent of debt and equity in the capital structure, the market value of the firm's debt and equity should be used, not the book value.
Statement 4: The beta will be needed to obtain the cost of equity capital in the CAPM. The beta should be estimated for the company by regressing the company's returns against a well diversified global index, not the local market index.
Regarding Shrum's Statements 3 and 4 on the estimation of the weighted average cost of capital for an emerging country firm, are both statements correct?
A. No, both statements are incorrect.
B. No, only Statement 3 is correct.
C. Yes.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
Statement 3: Shrum is incorrect because the debt and equity weights from a global industry index should be used* not the weights for the firm. Firms in emerging markets often use debt conservatively and this results in lower leverage ratios than for firms in the same industry in other countries.
Statement 4: Shrum is incorrect because an industry beta for the firm's industry should be estimated, not an individual firm beta. Shrum is correct however that a well diversified global index, not the local market index, should be used. (Study Session 11, LOS 39-d)
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