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Chartered Investment Manager (CIM) Practice Exam · Question

A portfolio manager is evaluating a Canadian utility company for a client's balanced portfolio. Given the company's stable earnings, mature industry, and consistent dividend payouts, which valuation model would likely be most appropriate and easily applied for this scenario?

The Dividend Discount Model (DDM) is particularly well-suited for valuing stable, dividend-paying companies in mature industries, such as utilities, where futur

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Question: A portfolio manager is evaluating a Canadian utility company for a client's balanced portfolio. Given the company's stable earnings, mature industry, and consistent dividend payouts, which valuation model would likely be most appropriate and easily applied for this scenario?

Answer options: ✅ Dividend Discount Model (DDM)

  • Free Cash Flow to Equity (FCFE) Model
  • Comparable Company Analysis (CCA) using EBITDA multiples
  • Liquidation Value Model

Correct answer: Dividend Discount Model (DDM)

Explanation: The Dividend Discount Model (DDM) is particularly well-suited for valuing stable, dividend-paying companies in mature industries, such as utilities, where future dividends can be reliably estimated. This aligns well with the company's description.

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