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对应课程:点击查看
起止时间:2020-02-24到2020-06-24
更新状态:已完结
绪章：Introduction and Recaps. 课程简介与必要知识回顾。 绪章测试题
1、 The nominal risk-free rate is best described as the sum of the real risk-free rate and a
A:maturity risk premium
B:liquidity risk premium
C:expected inflation premium
D:空
答案: expected inflation premium
2、 A bank quotes a stated annual interest rate of 4.00%. If that rate is equal to an effective annual rate of 4.08%, then the bank is compounding interest
A:daily
B:quarterly
C:semi-annually
D:空
答案: daily
3、 The value in six years of $75,000 invested today at a stated annual interest rate of 7% compounded quarterly is closest to
A:$112,555
B:$113,330
C:$113,733
D:空
答案: $113,733
4、 A client requires $100,000 one year from now. If the stated annual rate is 2.50% compounded weekly, the deposit needed today is closest to
A:$97,500
B:$97,532
C:$97,561
D:空
答案: $97,532
5、 An investment pays $300 annually for five years, with the first payment occurring today. The present value of the investment discounted at a 4% annual rate is closest to
A:$1,336
B:$1,389
C:$1,625
D:空
答案: $1,389
6、 A sweepstakes winner may select either a perpetuity of $2,000 a month beginning with the first payment in one month or an immediate lump sum payment of $350,000. If the annual discount rate is 6% compounded monthly, the present value of the perpetuity is
A:less than the lump sum
B:equal to the lump sum
C:greater than the lump sum
D:空
答案: greater than the lump sum
7、 A sports car, purchased for $200,000, is financed for five years at an annual rate of 6% compounded monthly. If the first payment is due in one month, the monthly payment is closest to
A:$3,847
B:$3,867
C:$3,957
D:空
答案: $3,867
8、 Which of the following risk premiums is most relevant in explaining the difference in yields between 30-year bonds issued by the US Treasury and 30-year bonds issued by a small private issuer?
A:Liquidity
B:Maturity
C:Inflation
D:空
答案: Liquidity
9、 Grandparents are funding a newborn’s future university tuition costs, estimated at $50,000/year for four years, with the first payment due in 18 years. Assuming a 6% effective annual rate, the required deposit today is closest to
A:$60,699
B:$64,341
C:$68,201
D:空
答案: $64,341
10、 Given a stated annual interest rate of 6% compounded quarterly, the level amount that，deposited quarterly, will grow to $25,000 at the end of 10 years is closest to
A:$461
B:$474
C:$836
D:空
答案: $461
第一章：Fixed-Income Securities： Defining the Elements. 固定收益证券的基本要素。 第一章测试题
1、 A 10-year bond was issued four years ago. The bond is denominated in US dollars, offers a coupon rate of 10% with interest paid semi-annually, and is currently priced at 102% of par. The bonds
A:tenor is six years
B:nominal rate is 5%
C:redemption value is 102% of the par value
D:空
答案: tenor is six years
2、 The legal contract that describes the form of the bond, the obligations of the issuer, and the rights of the bondholders can be best described as a bond’s
A:covenant
B:indenture
C:debenture
D:空
答案: indenture
3、 Which of the following is a type of external credit enhancement?
A:Covenants
B:A surety bond
C:Overcollaterization
D:空
答案: A surety bond
4、 An affirmative covenant is most likely to stipulate:
A:limits on the issuer’s leverage ratio
B:how the proceeds of the bond issue will be used
C:the maximum percentage of the issuers gross assets that can be sold
D:空
答案: how the proceeds of the bond issue will be used
5、 Which of the following best describes a negative bond covenant? The issuer is
A:prohibited from investing in risky projects
B:required to pay taxes as they come due
C:required to maintain its current lines of business
D:空
答案: prohibited from investing in risky projects
6、 A South African company issues bonds denominated in pound sterling that are sold to investors in the United Kingdom. These bonds can be best described as
A:Eurobonds
B:global bonds
C:foreign bonds
D:空
答案: foreign bonds
7、 If interest rates are expected to increase, the coupon payment structure most likely to benefit the issuer is a
A:step-up coupon
B:inflation-linked coupon
C:cap in a floating-rate note
D:空
答案: cap in a floating-rate note
8、 Which of the following provisions is a benefit to the issuer?
A:Put provision
B:Call provision
C:Conversion provision
D:空
答案: Call provision
9、 Investors seeking some general protection against a poor economy are most likely to select a
A:deferred coupon bond
B:credit-linked coupon bond
C:payment-in-kind coupon bond
D:空
答案: credit-linked coupon bond
10、 Relative to an otherwise similar option-free bond. a
A:putable bond will trade at a higher price
B:callable bond will trade at a higher price
C:convertible bond will trade at a lower price
D:空
答案: putable bond will trade at a higher price
第二章：Fixed-Income Markets： Issurance, Trading and Funding. 固定收益证券市场：发行、交易与融资。 第二章测试题
1、 The distinction between investment grade debt and non-investment grade debt is best described by
A:tax status
B:credit quality
C:maturity dates
D:空
答案: credit quality
2、 Compared with developed markets bonds, emerging markets bonds most likely
A:offer lower yields
B:exhibit higher risk
C:benefit from lower growth prospects
D:空
答案: exhibit higher risk
3、 In an underwritten offering, an investment bank that underwrites a bond issue most likely
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