image images listlengths 1 1 | id int64 0 11.1k | question large_stringlengths 41 452 | answer large_stringclasses 520
values | original_justification large_stringlengths 12 866 ⌀ |
|---|---|---|---|---|
0 | Which quarters demonstrate a significant upward sales trend?
Options:
A: 3QFY22 to 3QFY23
B: 2QFY20 to 2QFY21
C: 4QFY23 to 1QFY24
D: 1QFY22 to 4QFY22 | A | Recovery in Mexico sales with 129 mn increase q-q as facility issue was resolved during the quarter | |
1 | What is the largest expenditure component in the chart?
Options:
A: Net exports
B: Government expenditure
C: Household expenditure
D: Investment expenditure | D | As shown below, the largest components are Investment expenditure and Household expenditure, which accounted for 43% and 37% of the total respectively; ...the largest component of which – Investment spending – has made a progressively lower contribution since 2010. | |
2 | In which quarter of 2020 did the global PMX auto sales y-y growth experience the highest drop?
Options:
A: 1Q20
B: 2Q20
C: 3Q20
D: 4Q20 | A | Fig. 4: Quarterly sales y-y growth comparison; Source: Company data, Nomura estimates; *including US, Europe, and China passenger vehicle markets’ shipments | |
3 | Which line represents the growth of mortgage loans?
Options:
A: The gray line
B: The red line
C: The orange line
D: The light orange line | B | Fig. 10: Property loan growth (y-y) by type | |
4 | What is the approximate percentage difference in potential impact between Customer Experience and Legal services?
Options:
| 0 | We believe industries such as customer care, and trust & safety will be the first to see deflationary impact.; Players that have high exposure to these areas are at significant deflationary risk.; Fig. 26: Potential impact of GenAI across various business segments. | |
5 | Which of the following origination ranges were represented in 1Q24?
Options:
A: <1L
B: 1L-2L
C: 2L-5L
D: 5L-10L | ABCD | Fig. 5: Personal loans: <INR 1L constitutes ~15% in terms of value; Fig. 6: ...but constitutes ~88% in terms of volume | |
6 | Which of the following statements about FY24F and FY25F is correct?
Options:
A: The employee cost is slightly higher in FY24F than FY25F.
B: Rental cost remains stable between FY24F and FY25F.
C: Overheads as a percentage of sales decrease from FY24F to FY25F.
D: The percentage of rental cost is higher in FY24F compar... | C | Overhead as % of sales to decline as revenues ramp up | |
7 | Which of the following sectors have a YTD performance value less than 5?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | My knowledge doesn't extend to this topic | Fig. 4: Asia ex-Japan sector performance (in LC) for Asia ex-Japan equities; Source: IBES, MSCI, LSEG, Nomura research | |
8 | What does the shaded area in the chart represent?
Options:
A: The tax rates in select economies
B: The range of U.S. tax rates over the years
C: The difference in tax rates between the U.S. and the global average
D: The fluctuation in global tax rates | A | The chart below at right shows the average combined federal and sub-national corporate tax rate for the US and a selection of developed economies.; The reduction in 2017 brought the statutory rate more in line with the US’s peers.; Biden has proposed lifting the federal corporate tax rate to 28% (from the current 21%). | |
9 | Which two segments have the highest total contribution when combined?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | There may be multiple correct answers, I'm not sure which one | As for customer type, we note that the government is usually the largest customer segment for security companies; For instance, the government contributed 34% of total revenue for Venustech (2022); In the enterprise market, telecom, finance, energy, and healthcare are usually the key revenue pillars for security firms | |
10 | Which aspects of a country's population does a dependency ratio inform?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | My knowledge doesn't extend to this topic | Fig. 55: India's population dependency ratio (%); Source: World Bank, Nomura research | |
11 | Which state has the highest tax rate for base sales tax?
Options:
A: Louisiana
B: California
C: Tennessee
D: Oregon | A | In the US, sales taxes vary by state, ranging between zero and 9.6% as summarised below. | |
12 | Which quarter shows the highest y-y growth?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | There may be multiple correct answers, I'm not sure which one | Revenue was up 23.1% y-y; Source: Company data, Nomura research | |
13 | Which periods show that AMMB Holdings stock price is generally in an upward trend?
Options:
A: March 2023 to May 2023
B: July 2023 to September 2023
C: September 2023 to December 2023
D: November 2023 to January 2024 | D | AMMB was the best performer amongst the six Malaysia banks in our coverage, up 17% in the last six months.; Closing price 26 February 2024 MYR 4.31; The stock trades at 8x FY25F EPS of MYR0.54. | |
14 | Which year shows the highest opening price in the chart?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | The question is too complex or nuanced for me to provide an accurate answer | Rating and target price chart (three year history); Valuation Methodology We value Maybank on Gordon Growth model; For explanation of ratings refer to the stock rating keys located after chart(s) | |
15 | What are the possible reasons for the high stock levels of red oil in the country?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different quest... | The question is too complex or nuanced for me to provide an accurate answer | While palm oil imports grew strongly in 3Q23 (Fig. 44), they declined in 4Q23 likely due to higher imports of soybean oil.; Despite the decline in imports in 4Q23, palm oil inventories remain about 44% above average levels and total edible oil inventories remain about 30% above average levels.; Overall, we expect the o... | |
16 | Which months saw a target price increase for Maybank? (Select all that apply)
Options:
A: 2021/07/01
B: 2022/07/01
C: 2023/07/01
D: 2024/01/01 | CD | Maybank (MAY MK) MYR 9.51 (26-Feb-2024) Buy (Sector rating: N/A); Rating and target price chart (three year history); For explanation of ratings refer to the stock rating keys located after chart(s) | |
17 | What does the red area in the chart represent?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | The question is too complex or nuanced for me to provide an accurate answer | 5. US multi-asset fund equity beta; Source: Bloomberg, HSBC | |
18 | What was the P/E ratio of Sinobiopharma at the beginning of January 2021?
Options:
A: 35
B: 40
C: 30
D: 25 | C | Fig. 3: P/E trend; Source: Bloomberg Finance L.P., Nomura research | |
19 | Which companies would likely benefit the most from increasing CO2 emissions?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | I think you meant a different question | Who stands where? And what fines could they pay (without action)?; EXANE EXPLAINS: European CO2 Regulation | |
20 | Which regions are more optimistic in growth compared to S&P Global according to BNPP Exane?
Options:
A: China
B: LATAM
C: Europe
D: North America | AC | Expectations are once again undemanding with S&P expecting an YoY GLVP decline of 0.5% in 2024e; The delta to S&P in our forecast is mostly linked to China and Europe; We are also more constructive on Japan/Korea. | |
21 | What were possible reasons for the decline in the 2-year yield spread around 50 days before the election?
Options:
A: Anticipation of positive economic policy
B: Expectations of a favorable election outcome
C: Concerns about the government's stability
D: Inflation control measures | ABC | Following the 2016 EU referendum result and David Cameron’s resignation, Theresa May became prime minister; Immediate uncertainty as the government formed drove yields up; this initial move was followed by a bullish period that included a 10-15bp tightening in gilt–Bund spreads. | |
22 | Which countries have forecasted CPI values for February m/m on 12-Mar-2024?
Options:
A: US
B: Germany
C: Spain
D: Japan | AB | BNP Paribas Exane; DM calendar 11–15 March | |
23 | Which factors could influence the EUR HY yield and total return shown in the chart?
Options:
A: Economic conditions
B: Inflation rates
C: Credit spreads
D: Stock market performance | ABCD | Total returns in fixed income measure price appreciation and coupon accrual, and any FX translation effects; Source: Bloomberg, HSBC | |
24 | Which factors likely contributed to the improved Gross Stage-4 percentages in the later periods?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a d... | I think you meant a different question | Fig. 27: CIFC: GS-3 on a one-year lagged basis in new business moderated to ~2.4%; Fig. 26: CIFC: GS3 improved to ~1.1% as of 3Q24, driven by write-offs | |
25 | What factors likely contributed to the decreasing toll prices in 2021?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | The question is too complex or nuanced for me to provide an accurate answer | On an inflation-adjusted basis, the average dynamic toll received by both the 95 Express Lanes and 495 Express Lanes has yet to exceed the pre-pandemic level.; Given that tolls were expected to maintain an upward trajectory prior to the pandemic, it is fair to say that these assets have significantly disappointed.; Dul... | |
26 | Which industries contribute less than 40% of total revenue?
Options:
A: BFS
B: Telecom & Media
C: Healthcare
D: Others | BCD | Fig. 87: Revenue mix by industry vertical, 3QFY24; Snapshot of revenue across geographies, verticals and service lines | |
27 | What factors could explain the P/BV dip during the COVID-19 pandemic?
Options:
A: Market uncertainty
B: Economic slowdown
C: Regulatory changes
D: Technological advancements | ABC | AXSB trades at 2x 1yr-fwd BVPS (close to its long-term average multiple) | |
28 | Which periods had the highest population growth rates for the GTA Total and 407 Touches?
Options:
A: 1996-2001
B: 2001-2006
C: 2006-2011
D: 2011-2016 | B | As shown in the chart below, population growth in the areas of the GTA that touch or intersect with the 407 ETR significantly exceeded that of the GTA overall during the period between 1996 and 2011.; The below chart underlines the point by quantifying the difference in population growth between the GTA overall and the... | |
29 | Which category in the BNP Paribas Exane Telecoms Investment Framework has the highest percentage?
Options:
A: STAMP
B: Escape Velocity
C: Market Structure
D: Risky Business | A | Putting it all together, our Thematic Telecom scorecard…; The description provides a crucial framework to determine the best among our coverage universe.; Our 5-year thematic framework is based on quantitative analysis. | |
30 | What was the value of the 1y Rates Correlation Index around 2012?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | The question is too complex or nuanced for me to provide an accurate answer | Correlations in sovereigns… highly elevated currently | |
31 | What would be the most appropriate investment strategy for Meituan based on the chart?
Options:
A: Buy, as the stock price will increase
B: Sell or avoid, as the stock shows a declining trend
C: Hold, as there is potential for recovery
D: Diversify, as the stock is too volatile | B | Rating and target price chart (three year history); Meituan (3690 HK) HKD 69.25 (06-Feb-2024) Buy (Sector rating: N/A); The benchmark index for the stock is the Hang Seng Index | |
32 | Which months had A&P cost percentages lower than 11%?
Options:
A: Mar-23
B: Dec-21
C: Dec-22
D: Sep-22 | A | Fig. 8: A&P as % of sales | |
33 | Which countries in the EM Asia region have inflation forecasts below 3% for 2024?
Options:
A: India
B: Thailand
C: Malaysia
D: South Korea | D | Forecasts 2023–24: GDP and inflation | |
34 | Which fiscal year shows the highest realization in Rs/kg?
Options:
A: Q1 FY20
B: Q3 FY22
C: Q2 FY23
D: Q4 FY24 | C | Fig. 2: Nomura vs consensus estimates; Particulars (Rs mn); Consensus Estimates | |
35 | Which lists showed low export fluctuations from 2018 to 2023?
Options:
A: List 1
B: List 2
C: List 3
D: List 4 | ABD | On a rolling 12-month basis, US exports to China of goods covered by List 3 have broadly halved since 2017 in terms of tonnage; As shown below, this increase failed to materialise, with China’s purchase of the goods and services covered by the Phase One deal remaining around or below the 2017 level; | |
36 | Which loan categories had increasing shares in total vehicle loans from Mar-20 to Mar-23?
Options:
A: NBFCs
B: SCBs
C: Passenger Vehicle Loans
D: Two-Wheeler Vehicle Loans | C | NBFC credit to the vehicles segment rose by double digits in FY23, however, they still trailed banks | |
37 | Which periods had the highest realization and downward correlation?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | There may be multiple correct answers, I'm not sure which one | Fig. 2: Nomura vs consensus estimates; Particulars (Rs mn); Consensus Estimates | |
38 | Which are the quarters where disbursement was above 300 billion INR?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | The question is too complex or nuanced for me to provide an accurate answer | … driven by disbursement growth of 25% y-y; Company witnessed AUM growth of 21% y-y…. | |
39 | Which other powertrain type besides PHEV is expected to increase steadily through 2030E?
Options:
A: EV+FCV
B: HV
C: Combustion Engine
D: Others | AB | Fig. 5: Projected passenger car fleet average CO2 emissions and powertrain mix required to stay within EU emission limits; * Fleet CO2 estimates for 2020 to 2022 include the impact of super-credits. | |
40 | Which of the following is the current credit rating from Moody's?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | I think you meant a different question | Lower participation in our supplier payment programs would shorten our payable terms, resulting in an increase in our working capital requirements, and may have a material negative impact on our liquidity or capital resources.; We think this is a risk worth monitoring as lower participation could further hinder AAP’s l... | |
41 | Based on the chart, which quarter saw the lowest closing price for SK Innovation in 2023?
Options:
A: Q1 2023
B: Q2 2023
C: Q3 2023
D: Q4 2023 | D | SK Innovation (096770 KS) Rating and target price chart (three year history); Our SOTP-based target price of KRW190,000 is based on: 1) the refining business target enterprise value (EV) of KRW7.9tn; 2) chemical EV of KRW4.1tn; 3) lubricant EV of KRW2.4tn; 4) separator (SK IET) EV of KRW2.0tn; and 5) EV battery valuati... | |
42 | What is the highest point reached by the Jakarta Stock Exchange Composite Index on the chart?
Options:
| 105 | Relative performance chart; We revise downwards our FY23-25F earnings forecasts by 5%/6%/6% on account of intensifying competition.; The stock is currently trading at a 2024F P/E of 13.4x. | |
43 | What was the total loan value applied in February 2021?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | My knowledge doesn't extend to this topic | Fig. 25: Malaysia banking system: Loans applied 3MMA - some slowdown seen due to holidays; Source: BNM, Nomura research | |
44 | What was the relative share price level of BOE in 2020 compared to its initial level in 2018?
Options:
A: Above 100
B: Exactly 100
C: Below 100
D: Consistently at 100 | C | Fig. 22: LGD vs BOE/Sharp relative share price trend; Source: Bloomberg Finance L.P., Nomura research | |
45 | What would you conclude about Public Bank's stock based on the downward trend in the chart?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a differ... | There may be multiple correct answers, I'm not sure which one | Rating and target price chart (three year history); For explanation of ratings refer to the stock rating keys located after chart(s); We value Public Bank using a Gordon Growth model. | |
46 | In which quarter did the price first reach its highest point on the chart?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | There may be multiple correct answers, I'm not sure which one | Relative performance chart; We view positive sales growth, along with margin expansion as the major share price drivers throughout 2024/25F; We expect record-high 2024/25F earnings performance, driving share price higher | |
47 | What is the highest closing price for Malaysia Airlines observed in the chart?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | My knowledge doesn't extend to this topic | Rating and target price chart (three year history); Closing price for Malaysia Airports on the chart dates; | |
48 | Which countries have savings percentages close to or exceeding 40%?
Options:
A: Switzerland
B: China
C: South Korea
D: Russia | B | China’s household savings ratio was more than double that seen in any other major country on our records; Measured relative to disposable income the picture is very similar, as shown below.; Household savings as % of disposable income for world’s Top-10 economies, 1995 to 2022. | |
49 | Which metrics decreased year-over-year (y-y) from 2Q23FY to 3Q24FY according to the chart?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a differe... | The question is too complex or nuanced for me to provide an accurate answer | Lenovo (992 HK) [Donnie Teng] (Buy, TP: HKD10, 22 Feb 2024 closing price: HKD8.84); Dec-Q results came in above market expectations on high OPM; Fig. 1: Lenovo: earnings comparison Source: Company data, Nomura estimates, Bloomberg consensus | |
50 | Which year shows the highest proportion of domestic seat capacity to Spain?
Options:
A: 2010
B: 2015
C: 2020
D: 2023 | C | Domestic traffic reached 35% of total seat capacity and 33% of total air traffic to Spain; In 2023, domestic traffic was 8.3% above 2019 levels, whereas intra-European traffic was still down -0.1% | |
51 | Which of the following factors are directly related to the 2024 target price for China Mobile?
Options:
A: P/E ratio
B: Dividend yield
C: P/B ratio
D: EV/EBITDA | B | Rating and target price chart (three year history); Our TP of HKD78.00 implies a P/E ratio of 10.4x on 2024F EPS of CNY6.81, P/B of 1.1x on 2024F BVPS of CNY65, 3.7x 2024F EV/EBITDA, and 6.7% 2024F dividend yield; The distribution of all ratings published by Nomura Group Global Equity Research is as follows. | |
52 | Which factors are contributing to the overall growth in Ontario's population?
Options:
A: Natural increase
B: Net migration
C: Increased birth rates
D: Decreased death rates | B | As our chart shows, these forecasts are primarily driven by immigration, with the contribution of the natural increase actually expected to decline.;Figure 49: Contribution of natural increase and net migration to Ontario's population growth (‘000), 1975 to 2046E;In this context, we feel it would be prudent for investo... | |
53 | Based on the chart, which factors could explain the closing price peaks around early 2024?
Options:
A: Increase in recommendation change
B: Increase in target price
C: Decline in stock volatility
D: Company’s poor earnings | AB | The Ramco Cement (TRCL IN); Rating and target price chart (three year history); For explanation of ratings refer to the stock rating keys located after chart(s) | |
54 | Which of the following assets have contributions less than 0.20?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | I think you meant a different question | Reverse Goldilocks contributions; Multi-Asset Regime Radar; Regimes in last 6m – highest dominates | |
55 | Which categories of loans in the chart are based on floating interest rates?
Options:
A: MCLR
B: Repo
C: Fixed
D: Other EBLR linked | ABD | Fig. 102: Repo/MCLR-linked loans make up for 26%/22% of CIFC’s bank borrowings (FY23); 51% of the liabilities for CIFC are bank borrowings, out of which 26% is linked to repo rates, 22% to marginal cost of funds-based lending rates (MCLR). | |
56 | What is the approximate difference in revenue between 'Large Enterprises' and 'Rest of Enterprise' in 2027?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think yo... | There may be multiple correct answers, I'm not sure which one | For the data center market, according to 650 Group, the global data center Ethernet switch revenue may have exceeded USD20bn in 2023, and cloud service providers (SP) took large share of the total market, especially for the top five US cloud SPs and top three China cloud SPs.; Meanwhile, for the China market, the reven... | |
57 | Which markets show substantial growth potential based on the chart?
Options:
A: Coherent ZR
B: Coherent on-board
C: Pluggables
D: All of the above | BC | Coherent ZR is here to stay, but pluggables offer opportunities for many players; Coherent on-board and pluggables will both grow | |
58 | What is the percentage change in accompanied truck volume for Q1 2020 compared to 2017-2018?
Options:
A: -13%
B: -31%
C: -23%
D: -30% | A | If we focus on the part of the unitised market that is accompanied (i.e. towed by a truck as opposed to transported by unaccompanied ferry or Lo-Lo container), the decline versus the 2017-2018 average level has been much greater than that of the unitised market overall, as shown below.; Versus the 2017-2018 average, th... | |
59 | Which quarters show a significant difference between GNPA and NNPA?
Options:
A: 1Q FY23
B: 3Q FY24
C: 2Q FY23
D: 2Q FY24 | B | Fig. 32: NAVI Finserv: Credit cost remained elevated...; Fig. 34: SBI Cards: GNPA/NNPA inched up further in 3Q24 (51% increase y-y); Fig. 35: SBI Cards: Likewise, GNPA/NNPA ratio has been increasing as well | |
60 | Which countries are forecasted to have annual GDP growth in 2024 above 2%?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | I think you meant a different question | Forecasts 2023–24: GDP and inflation | |
61 | What should investors look for in this chart as potential decision-making indicators for Kossan Rubber?
Options:
A: Point of steep price drops
B: Support and resistance levels
C: Frequency of target price changes
D: Currency fluctuations | AC | Rating and target price chart (three year history); For explanation of ratings refer to the stock rating keys located after chart(s); Our TP of MYR1.93 is based on FY25F target P/E of 21x (at pre-pandemic mean). | |
62 | What is the difference in allocation value between the Interval Fund and the Redeemable Bond?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a diff... | The question is too complex or nuanced for me to provide an accurate answer | Allocations to alternatives from private wealth investors today predominantly come from the upper-high-net-worth/ultra-high-net-worth segments.; There is a much larger opportunity to address the HNW and mass affluent segments including individuals accessing through individual pension holdings.; Today, allocations from ... | |
63 | Which periods show significant downward recovery from negative growth?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | My knowledge doesn't extend to this topic | Fig. 13: Adjusted PAT growth trends; Source: Company data, Nomura research | |
64 | What was the trend in Vodafone's closing price from the chart data?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | There may be multiple correct answers, I'm not sure which one | Rating and target price chart (three year history); For explanation of ratings refer to the stock rating keys located after chart(s); Our TP of MYR3.13 is based on SOTP basis comprising i) 2024F EV/EBITDA of 4.1x (-2.5 SD) on its core operations; and ii) its 33.1% stake in CelcomDigi at our target valuation. | |
65 | Which conclusions can be drawn from the toll rate trends for both NTE and NTE 35W?
Options:
A: NTE's toll rates increased faster due to higher demand.
B: NTE 35W’s slower growth may reflect newer infrastructure.
C: Both assets saw significant toll increases in 2023.
D: NTE 35W had a higher rate of toll increase throug... | C | For both the NTE and NTE 35W, revenue growth has primarily been driven by toll increases, as one would expect given the pricing regulation of these assets in which tolls are essentially used as a mechanism to maintain the traffic flow rate within a designated range; On a rolling 12-month basis, NTE tolls increased by +... | |
66 | In which quarter did the LBJ revenue growth first exceed 0% after the baseline year 2019?
Options:
A: Q1 2020
B: Q2 2020
C: Q3 2020
D: Q4 2020 | A | If we limit our attention to Ferrovial's managed lanes around Dallas Fort Worth, the picture changes little, with a major revenue gap having opened up between the LBJ and the NTE/NTE 35W; As of Q4, we estimate the LBJ's real revenue growth versus 2019 was just +4.6%, compared with +59.1% for the NTE/NTE 35W on a like-f... | |
67 | What is the value of BBNI percentage around Jan-24?
Options:
A: Around 90%
B: Around 120%
C: Around 150%
D: Around 170% | C | Fig. 18: COF Comp BBNI and BBCA %; | |
68 | Based on the chart, which of the following can be inferred about the company's downward strategy?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a ... | My knowledge doesn't extend to this topic | Fig. 4: Coupang – 4Q23 results summary; Revenue 6,561; Net revenue per active customer ($) | |
69 | What is the average activity for the GBP swap 2s10s over the entire period?
Options:
| 6 | Seasonal patterns; Source: Bloomberg, BNP Paribas | |
70 | Which fiscal years have negative year-on-year growth?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | The question is too complex or nuanced for me to provide an accurate answer | Disbursements grew at CAGR of ~15% over FY16-9M24 | |
71 | Which statements are correct about the stock's price movement over 2024?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | My knowledge doesn't extend to this topic | The stock is currently trading at 38x FY25F and 33x FY26F EPS.; Relative performance chart; Closing price 16 January 2024 INR 5,350 | |
72 | Which of the following years show a forecasted Core HICP of 2.1% by the ECB?
Options:
A: 2023
B: 2025
C: 2024
D: 2026 | D | Figure 3: Forecasts for eurozone HICP (% y/y) | |
73 | Which year did imports from South Korea to the EU experience the highest increase?
Options:
A: 2011
B: 2015
C: 2021
D: 2008 | C | EU and Korea agreed an FTA in 2011, allowing tariff free auto shipments; Korean brands (i.e. Hyundai + Kia) grew EU share from 4% in 2010 to 7% in 2023 | |
74 | Which categories in the chart are associated with price changes greater than 100 ZAR?
Options:
A: Old TP
B: Macro assumptions
C: New TP
D: None of the above | C | The higher gold price in local currency terms is a material boost for Harmony Gold which is operationally leveraged and has more than 80% of production from South Africa. This is a key driver to the uplift in the TP, as illustrated in the waterfall chart below. | |
75 | Which months in 2023 had EV battery exports above 15 GWh?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | My knowledge doesn't extend to this topic | Fig. 179: China EV battery export trend | |
76 | Which years had revenue from roboshops?
Options:
A: FY17
B: FY21
C: FY22
D: FY19 | C | Revenue from Pop Mart’s overseas retail stores saw a significant surge, leaping from CNY3mn to CNY136mn during 2021-22; Roboshops witnessed a slower growth trajectory, climbing from CNY2mn in 2021 to CNY15mn in 2022; Online channels have shown significant success since their launch, delivering CNY41/90mn in revenue in ... | |
77 | What is the total training cost of ChatGPT-2, ChatGPT-3, and ChatGPT-4?
Options:
| 458000000 | Training cost of ChatGPT models | |
78 | Which countries are forecasted to have a policy rate under 1% at the end of 2024?
Options:
A: China
B: Japan
C: Eurozone
D: US | B | BNP Paribas policy rate forecasts; BNP Paribas policy rate forecasts | |
79 | What percentage of spending in 2020 was allocated to 'Saving'?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | There may be multiple correct answers, I'm not sure which one | Economically, these new habits are changing Indonesia’s spending allocation; We think that lower-end consumers will increasingly prioritize value-for-money products; Consumers are sacrificing savings and lifting their budgets in leisure. | |
80 | What is the general trend of the closing price over the given period?
Options:
A: Steady increase
B: Sharp decline
C: Fluctuates irregularly
D: Slight upward trend | D | ASML Historical closing price & target price (as of 24/01/2024); Historical rating & target price changes; Closing prices and target prices have been adjusted to take into account stock split or corporate actions where applicable. | |
81 | Which quarter shows the highest year-over-year revenue growth for SEMCO MLCC?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | There may be multiple correct answers, I'm not sure which one | Fig. 8: Murata and SEMCO revenue y-y growth | |
82 | Which quarter shows the highest total credit?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | My knowledge doesn't extend to this topic | Fig. 7: Debt trend; EBITDA margins by ~80/55/50 bp to 13.6%/13.0%/12.9% over FY24-26F; our EBITDA is revised by ~7.5%/6%/6% and EPS is up by ~17%/14%/13% over FY24-26F | |
83 | Which of the following statements are correct about the target price?
Options:
A: It fluctuates less compared to the closing price.
B: It is more volatile in the beginning.
C: It stabilizes after 12:21.
D: It continuously increases without drops. | A | Banco BPM Historical closing price & target price (as of 22/02/2024); Closing prices and target prices have been adjusted to take into account stock split or corporate actions where applicable; Note: Closing price is based on market close price on last business close date. | |
84 | What factors might contribute to the observed upward trend in the closing price over the past three years?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you... | There may be multiple correct answers, I'm not sure which one | Rating and target price chart (three year history); Our target price for Longfor of HKD18.10 is based on a 2023F NAV estimate of HKD36.10 per share and a target NAV discount of 50%; HKD 10.74 (23-Feb-2024) Buy (Sector rating: N/A) | |
85 | In which week of the year is the 2023 demand notably higher than the 5-year average?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different que... | My knowledge doesn't extend to this topic | European gas demand has seen some industrial sector recovery, but remains below the 5yr avg; European gas inventories are very healthy at 73% full, which continues to dampen European gas prices | |
86 | What is the highest price of Red Latex shown in the chart?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | My knowledge doesn't extend to this topic | Fig. 14: NB Latex price; Source: KITA, Nomura research | |
87 | Which year had the smallest value for the Tokyo Expansion project?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | There may be multiple correct answers, I'm not sure which one | We expect renewable products capacity to exceed Neste’s 2026 6.8MTPA target through continued de-bottlenecking; Whilst Neste’s Singapore refinery has had issues on start-up we expect 75% of capacity will be online by the end of the year and full capacity reached in 2024; The Californian Martinez refinery’s conversion i... | |
88 | Which of the following actions could improve Tele2’s Enterprise Value/EBITDA ratio?
Options:
A: Reducing operational costs.
B: Increasing debt to finance expansion.
C: Increasing revenue through new services.
D: Raising capital by issuing more shares. | AC | Figure 26: Tele2 shares lagged in much of 2023 but rebounded recently | |
89 | What could be the economic implications of the projected decline in the working population?
Options:
A: Increased labor costs
B: Decreased economic productivity
C: Increased employment opportunities
D: Economic growth | AB | Eurostat projections predict that the total population in Europe will remain flat over the next 20 years, while the working population will drop by almost 10% despite immigration.; As shown in the chart below, older people tend to travel less than younger people.; For every increase of 100 bps of older people as percen... | |
90 | What was the general trend of CelcomDigi's closing price from mid-2022 to the end of 2023?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a differe... | I think you meant a different question | Rating and target price chart (three year history); Our target price of MYR4.89 is based on 2024F EV/EBITDA of 11.5x (1SD below the long-term mean); CelcomDigi (CDB MK) MYR 4.37 (20-Feb-2024) Neutral (Sector rating: N/A) | |
91 | Which banks had over 5,000 IDRbillion in monthly profit by January 2024?
Options:
A: BBNI
B: BMRI
C: BBRI
D: BBCA | BCD | Fig. 10: Monthly profit of major banks | |
92 | Based on the chart, which factors might explain the steep rise in Hanwha Aerospace's price from 2020 to 2023?
Options:
A: Increased company valuation
B: Market speculation
C: Rising revenue and operating value
D: External economic factors | AC | Fig. 10: Hanwha Aerospace, SOTP Valuation - TP: KRW200,000; Total value (KRW bn): 10,132, 9,314; Operating value: 9,463, 8,645 | |
93 | Which of the following time periods show significant fluctuations in the swap spread differential?
Options:
A: 2015 to 2017
B: 2018 to 2020
C: 2022 to 2024
D: 2019 to 2021 | BC | Figure 8 shows that the differential between Bund and UST swap spreads has fallen back to the post-2015 average level; Returning to the average level may also suggest that the bulk of the tightening move is over; The difference between Bund and UST swap spreads is back at the post-2015 average level | |
94 | What characteristics define Eurotunnel's market share trend between 2020 and 2024?
Options:
A: Rapid growth
B: Market share fluctuation
C: Gradual normalization
D: Steady decline | B | Eurotunnel's market share of Short Straits passenger vehicle traffic increased since the pandemic, but has since normalised; Eurotunnel gained significant market share from the Short Sea ferry operators during 2020-2022 but this has now largely normalised. | |
95 | Which factors might explain the fluctuation in UCG's loan loss provisions from 2011 to 2018?
Options:
A: Large disposals of non-performing loans
B: Increased loan demand
C: Efforts to clean up legacy assets
D: Stable market conditions | AC | We believe the high levels of cost of risk seen in the past are unlikely to return over the forecast period, since they were largely the results of losses on large NPE disposals and material increases in the coverage levels of both NPEs and performing loans; The reality is that the top-up of provisions done in 2011-14 ... | |
96 | What does the red line in the chart represent?
Options:
1. My knowledge doesn't extend to this topic
2. There may be multiple correct answers, I'm not sure which one
3. The question is too complex or nuanced for me to provide an accurate answer
4. I think you meant a different question | I think you meant a different question | With capital goods shipments – the source data for investment in equipment – slowing to a halt in Q4 (chart above on left), we expect further weakening in business investment going into 2024; Survey data similarly provides little optimism with respect to future trajectory of business investment growth (chart below on r... | |
97 | Which years show a gradual increase in sales per product?
Options:
A: FY16 to FY17
B: FY17 to FY18
C: FY19 to FY20
D: FY18 to FY19 | AD | Fig. 23: Sales per product (USD mn); Source: Company data, IQVIA, Nomura research | |
98 | What factors might justify focusing on 'Green bonds' and 'Sustainable investment' in investment banking?
Options:
A: High demand for retail banking services
B: Increasing environmental awareness among investors
C: Enhanced regulatory frameworks for sustainable finance
D: Direct impact on consumer lending rates | BC | Source: Green is the new gold: what are the opportunities for banks facing climate change?, Sia partners; Source: Sia partners, Nomura research | |
99 | Which of the following years show a decrease in the percentage of loans past due between 2 months to 3 months?
Options:
A: 2022
B: 2023
C: 2019
D: 2018 | B | Fig. 5: Ageing analysis of total domestic loans |
End of preview. Expand in Data Studio
README.md exists but content is empty.
- Downloads last month
- 23