某房地产开发公司有四个寿命期为一年的互斥投资方案，根据下表中的-最需题库

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1某房地产开发公司现有两个互斥投资方案可供选择，各方案的初期投资额及净收益如下表所示，其寿命期均为5年，不计残值。当基准收益率为10%时，用差额法计算的NPV（乙-甲）值（　）。单位：万元<table border="1" cellspacing="0" cellpadding="0" _dj="MsoNormalTable"><tbody><tr><td valign="top" width="116">投资方案</td><td valign="top" width="116">初期投资</td><td valign="top" width="116">净收益</td></tr><tr><td valign="top" width="116">甲乙</td><td valign="top" width="116">30004000</td><td valign="top" width="116">9001200</td></tr></tbody></table>　
A.大于100万元
B.等于零
C.小于零
D.等于100万元
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2某房地产投资者有四个独立的投资项目可供选择，其数据如下表所示。各项目每年年末的净收益都相同，经营5年后转售。若基准收益率为12%，可利用资金总额为2000万元时，该投资都可选择的项目为（　）单位：万元<table style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BORDER-COLLAPSE: collapse; BORDER-TOP: medium none; BORDER-RIGHT: medium none; mso-yfti-tbllook: 1184; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt; mso-border-alt: solid windowtext .5pt" border="1" cellspacing="0" cellpadding="0" _dj="MsoNormalTable"><tbody><tr style="HEIGHT: 14.95pt; mso-yfti-irow: 0; mso-yfti-firstrow: yes"><td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 78.85pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.95pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm; mso-border-alt: solid windowtext .5pt" valign="top" width="105">投资项目</td><td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 78.85pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.95pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm; mso-border-left-alt: solid windowtext .5pt; mso-border-alt: solid windowtext .5pt" valign="top" width="105">初期投资额</td><td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 78.85pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.95pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm; mso-border-left-alt: solid windowtext .5pt; mso-border-alt: solid windowtext .5pt" valign="top" width="105">每年净收益</td><td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 78.9pt; PADDING-RIGHT: 5.4pt; HEIGHT: 14.95pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm; mso-border-left-alt: solid windowtext .5pt; mso-border-alt: solid windowtext .5pt" valign="top" width="105">内部收益率</td></tr><tr style="HEIGHT: 62.9pt; mso-yfti-irow: 1; mso-yfti-lastrow: yes"><td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 78.85pt; PADDING-RIGHT: 5.4pt; HEIGHT: 62.9pt; BORDER-TOP: #000000; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid windowtext .5pt; mso-border-alt: solid windowtext .5pt" valign="top" width="105">甲乙丙丁</td><td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 78.85pt; PADDING-RIGHT: 5.4pt; HEIGHT: 62.9pt; BORDER-TOP: #000000; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-alt: solid windowtext .5pt" valign="top" width="105">600650700900</td><td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 78.85pt; PADDING-RIGHT: 5.4pt; HEIGHT: 62.9pt; BORDER-TOP: #000000; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-alt: solid windowtext .5pt" valign="top" width="105">220170235250</td><td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 78.9pt; PADDING-RIGHT: 5.4pt; HEIGHT: 62.9pt; BORDER-TOP: #000000; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-alt: solid windowtext .5pt" valign="top" width="105">24%10%20%12%</td></tr></tbody></table>　
A.甲、丙
B.甲、丁
C.丙、丁
D.甲、乙、丙
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3某房地产投资项目每年的现金流量如下表所示，基准收益率为10%，该项目的表态投资回收期在（　）之间。<table style="BORDER-COLLAPSE: collapse; mso-yfti-tbllook: 1184; mso-padding-alt: 0cm 5.4pt 0cm 5.4pt" border="0" cellspacing="0" cellpadding="0" _dj="MsoNormalTable"><tbody><tr style="HEIGHT: 15.25pt; mso-yfti-irow: 0; mso-yfti-firstrow: yes"><td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 53.5pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: windowtext .5pt; mso-border-left-alt: windowtext .5pt; mso-border-bottom-alt: black .75pt; mso-border-right-alt: black .75pt; mso-border-style-alt: solid" valign="top" width="71">年份</td><td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 38.8pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid windowtext .5pt; mso-border-left-alt: solid black .75pt; mso-border-alt: solid black .75pt" valign="top" width="52">0</td><td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 33.95pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid windowtext .5pt; mso-border-left-alt: solid black .75pt; mso-border-alt: solid black .75pt" valign="top" width="45">1</td><td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 38.8pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid windowtext .5pt; mso-border-left-alt: solid black .75pt; mso-border-alt: solid black .75pt" valign="top" width="52">2</td><td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 35.3pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid windowtext .5pt; mso-border-left-alt: solid black .75pt; mso-border-alt: solid black .75pt" valign="top" width="47">3</td><td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 40.1pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid windowtext .5pt; mso-border-left-alt: solid black .75pt; mso-border-alt: solid black .75pt" valign="top" width="53">4</td><td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 40.1pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid windowtext .5pt; mso-border-left-alt: solid black .75pt; mso-border-alt: solid black .75pt" valign="top" width="53">5</td><td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 40.1pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: windowtext .5pt; mso-border-left-alt: black .75pt; mso-border-bottom-alt: black .75pt; mso-border-right-alt: windowtext .5pt; mso-border-style-alt: solid" valign="top" width="53">6</td></tr><tr style="HEIGHT: 15.25pt; mso-yfti-irow: 1"><td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 53.5pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: #000000; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid black .75pt; mso-border-left-alt: solid windowtext .5pt; mso-border-alt: solid black .75pt" valign="top" width="71">现金流入</td><td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 38.8pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: #000000; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-alt: solid black .75pt" valign="top" width="52"></td><td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 33.95pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: #000000; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-alt: solid black .75pt" valign="top" width="45"></td><td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 38.8pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: #000000; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-alt: solid black .75pt" valign="top" width="52">250</td><td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 35.3pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: #000000; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-alt: solid black .75pt" valign="top" width="47">250</td><td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 40.1pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: #000000; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-alt: solid black .75pt" valign="top" width="53">250</td><td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 40.1pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: #000000; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-alt: solid black .75pt" valign="top" width="53">250</td><td style="BORDER-BOTTOM: black 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 40.1pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: #000000; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-right-alt: solid windowtext .5pt; mso-border-alt: solid black .75pt" valign="top" width="53">250</td></tr><tr style="HEIGHT: 15.25pt; mso-yfti-irow: 2; mso-yfti-lastrow: yes"><td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 53.5pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: #000000; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: black .75pt; mso-border-left-alt: windowtext .5pt; mso-border-bottom-alt: windowtext .5pt; mso-border-right-alt: black .75pt; mso-border-style-alt: solid" valign="top" width="71">现金流出</td><td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 38.8pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: #000000; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-alt: solid black .75pt" valign="top" width="52">500</td><td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 33.95pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: #000000; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-alt: solid black .75pt" valign="top" width="45">50</td><td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 38.8pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: #000000; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-alt: solid black .75pt" valign="top" width="52">30</td><td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 35.3pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: #000000; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-alt: solid black .75pt" valign="top" width="47">30</td><td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 40.1pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: #000000; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-alt: solid black .75pt" valign="top" width="53">30</td><td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 40.1pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: #000000; BORDER-RIGHT: black 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-alt: solid black .75pt" valign="top" width="53">30</td><td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: #000000; PADDING-BOTTOM: 0cm; BACKGROUND-COLOR: transparent; PADDING-LEFT: 5.4pt; WIDTH: 40.1pt; PADDING-RIGHT: 5.4pt; HEIGHT: 15.25pt; BORDER-TOP: #000000; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0cm; mso-border-top-alt: black .75pt; mso-border-left-alt: black .75pt; mso-border-bottom-alt: windowtext .5pt; mso-border-right-alt: windowtext .5pt; mso-border-style-alt: solid" valign="top" width="53">30</td></tr></tbody></table>
A.第二年与第三年
B.第三年与第四年
C.第四年与第五年
D.第五年与第六年
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4某房地产投资项目的初始投资额为400万元，经营期为5年，基准收益率为10%，净现值为168.62万元，若每年年末的净现金流量相等，则每年年末的净现金流量为（　）万元。
A.250
B.200
C.175
D.150
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5某人拟于每年年末按年利率5%存入3万元，则第3年末全部存款本息之和与10万元相差（　）元（假设按复利计息）。
A.10000
B.9524
C.7396
D.5425
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6房地产投资风险中的动态风险是由于企业的经营管理状况和（　）带来的风险。
A.意外事件的发生
B.市场需求的变动
C.自然灾害
D.国家政策的变化
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7房地产投资风险中的动态风险可通过（　）加以避免。
A.经营者自身努力
B.投保的方式
C.防范自然灾害的发生
D.避免环境污染
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8降低房地产投资中的商业风险可采用的主要对策有：进行房地产组合投资和（　）等。
A.将风险损失摊销计入成本
B.利用通货膨胀的影响
C.选择擅长经营的房地产项目
D.在经济下降期投资
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9年值在实际使用中未作特殊说明时，指的是（　）
A.预付年值
B.普通年值
C.期初年值
D.永续年值
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10形成房地产投资金融风险的主要原因之一是（　）。
A.通货膨胀
B.金融政策问题
C.实际净现值减少
D.销售价格波动
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