2024智慧树网课答案 CFA固定收益证券 最新完整智慧树知到满分章节测试答案

绪论 单元测试

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
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
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
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:97500
B:97532
C:97561
答案: 【
97532
】

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
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
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:3847
B:3867
C:3957
答案: 【
3867
】

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
答案: 【
Call provision
】

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:60699
B:64341
C:68201
答案: 【
64341
】

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
答案: 【
461
】

第一章 单元测试

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

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
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
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
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
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
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
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
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

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
答案: 【
putable bond will trade at a higher price
】

第二章 单元测试

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
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
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
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
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
C:a price close to the bond’s fair market value
答案: 【
a price close to the bond’s fair market value
】

6、 问题:A mechanism by which an issuer may be able to offer additional bonds to the general public without preparing a new and separate offering circular best describes
选项：
A:the grey market
B:a shelf registration
C:a private placement
答案: 【
a shelf registration
】

7、 问题:Which of the following statements relating to commercial paper is most accurate?
选项：
A:There is no secondary market for trading commercial paper
B:Only the strongest, highly rated companies issue commercial paper
C:Commercial paper is a source of interim financing for long-term projects
答案: 【
Commercial paper is a source of interim financing for long-term projects
】

8、 问题:For the issuer, a sinking fund arrangement is most similar to a
选项：
A:term maturity structure
B:serial maturity structure
C:bondholder put provision
答案: 【
serial maturity structure
】

9、 问题:Which of the following is a source of wholesale funds for banks?
选项：
A:Demand deposits
B:Money market accounts
C:Negotiable certificates of deposit
答案: 【
Negotiable certificates of deposit
】

10、 问题:The repo margin on a repurchase agreement is most likely to be lower when
选项：
A:the underlying collateral is in short supply
B:the maturity of the repurchase agreement is long
C:the credit risk associated with the underlying collateral is high
答案: 【
the underlying collateral is in short supply
】

第三章 单元测试

1、 问题:A portfolio manager is considering the purchase of a bond with a 5.5% coupon rate that pays interest annually and matures in three years. If the required rate of return on the bond is 5%, the price of the bond per 100 of par value is closest to
选项：
A:98.65
B:101.36
C:106.43
答案: 【
101.36
】