1. Of the following balance sheets items listed, which would not be included in the calculation of net working capital:
   1. Accounts receivable
   2. Property, plant & equipment
   3. Long term debt
   4. A and C
   5. B and C
2. Given the following information for a public company, calculate the companys cost of equity using the Capital Asset Pricing Model (CAPM). Beta: 1.3, Risk Free rate: 1.75%, Expected Market return: 8.5%.
   1. 10.1%
   2. 11.8%
   3. 14.1%
   4. 12.4%
3. In a typical private equity transaction, a _____ is more likely to rely on _______ as a major factor in their evaluation of the potential return on the investment.
   1. Financial sponsor, higher leverage
   2. Strategic buyer, synergies
   3. Financial sponsor, synergies
   4. Strategic buyer, higher leverage
   5. A and B
4. The beta of a publicly traded US based company stock is a statistical estimate of how closely the companys stock moves in relation to the:
   1. Other stocks in its industry with similar capital structures
   2. The risk-free rate
   3. The overall US stock market
   4. The overall global stock market