2020 固定收益证券分析 王建立(南京航空航天大学) 最新满分章节测试答案

本答案对应课程为:点我自动跳转查看
本课程起止时间为:2020-02-23到2020-04-23
本篇答案更新状态: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、 问题:The nominal risk-free rate is best described as the sum of the real risk-free rate and a
选项：
A:maturity risk premium
B:liquidity risk premium
C:expected inflation premium
D:空
答案: 【expected inflation premium】

2、 问题: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
选项：
A:daily
B:quarterly
C:semi-annually
D:空
答案: 【daily】

3、 问题:The value in six years of $75,000 invested today at a stated annual interest rate of 7% compounded quarterly is closest to
选项：
A:$112,555
B:$113,330
C:$113,733
D:空
答案: 【$113,733】

4、 问题: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
选项：
A:$97,500 
B:$97,532 
C:$97,561 
D:空
答案: 【$97,532 】

5、 问题: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
选项：
A:$1,336
B:$1,389
C:$1,625
D:空
答案: 【$1,389】

6、 问题: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
选项：
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、 问题: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
选项：
A:$3,847 
B:$3,867 
C:$3,957 
D:空
答案: 【$3,867 】

8、 问题: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?
选项：
A:Liquidity
B:Maturity
C:Inflation
D:空
答案: 【Liquidity】

9、 问题: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
选项：
A:$60,699 
B:$64,341 
C:$68,201 
D:空
答案: 【$64,341 】

10、 问题: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
选项：
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、 问题: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
选项：
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、 问题: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
选项：
A:covenant
B:indenture
C:debenture
D:空
答案: 【indenture】

3、 问题:Which of the following is a type of external credit enhancement?
选项：
A:Covenants
B:A surety bond
C:Overcollaterization
D:空
答案: 【A surety bond】

4、 问题:An affirmative covenant is most likely to stipulate:
选项：
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、 问题:Which of the following best describes a negative bond covenant? The issuer is
选项：
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、 问题: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
选项：
A:Eurobonds
B:global bonds
C:foreign bonds
D:空
答案: 【foreign bonds】

7、 问题:If interest rates are expected to increase, the coupon payment structure most likely to benefit the issuer is a
选项：
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、 问题:Which of the following provisions is a benefit to the issuer?
选项：
A:Put provision
B:Call provision
C:Conversion provision
D:空
答案: 【Call provision】

9、 问题:Investors seeking some general protection against a poor economy are most likely to select a
选项：
A:deferred coupon bond
B:credit-linked coupon bond
C:payment-in-kind coupon bond
D:空
答案: 【credit-linked coupon bond】

10、 问题:Relative to an otherwise similar option-free bond. a
选项：
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、 问题:The distinction between investment grade debt and non-investment grade debt is best described by
选项：
A:tax status
B:credit quality
C:maturity dates
D:空
答案: 【credit quality】

2、 问题:Compared with developed markets bonds, emerging markets bonds most likely
选项：
A:offer lower yields
B:exhibit higher risk
C:benefit from lower growth prospects
D:空
答案: 【exhibit higher risk】

3、 问题:In an underwritten offering, an investment bank that underwrites a bond issue most likely
选项：
A:buys and resells the newly issued bonds to investors or dealers
B:acts as a broker and receives a commission for selling the bonds to investors
C:incurs less risk associated with selling the bonds than in a best efforts offering
D:空
答案: 【buys and resells the newly issued bonds to investors or dealers】

4、 问题:In major developed bond markets, newly issued sovereign bonds are most often sold to the public via a(n)
选项：
A:auction
B:private placement
C:best efforts offering
D:空
答案: 【auction】

5、 问题:A liquid secondary bond market allows an investor to sell a bond at
选项：
A:the desired price
B:a price at least equal to the purchase price