商业银行管理彼得S.罗斯英文原书第8版-英语试题库Chap008.doc
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商业银行管理彼得S.罗斯英文原书第8版-英语试题库Chap008.doc
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Chapter8
RiskManagement:
FinancialFutures,Options,Swaps,andotherHedgingTools
FillintheBlankQuestions
1. A(n)_________________________isanagreementbetweenabuyerandasellertodaywhichcallsforthedeliveryofaparticularsecurityinexchangeforcashatsomefuturedateforasetprice.
Answer:
financialfuturescontract
2. Afinancialinstitutiongoes_________________________inthefuturesmarketbysellingafuturescontract.
Answer:
short
3. Afinancialinstitutiongoes_________________________inthefuturesmarketbybuyingafuturescontract.
Answer:
long
4. _________________________isthedifferenceininterestrates(orprices)betweenthecashmarketandthefuturesmarketonanunderlyingsecurity.
Answer:
Basis
5. The_________________________isthefeethebuyermustpaytobeabletoputsecuritiestoortocallsecuritiesawayfromtheoptionwriter.
Answer:
optionpremium
6. A(n)_________________________allowstheholdertherighttoeithersellsecuritiestoanotherinvestor(put)orbuysecuritiesfromanotherinvestor(call)forasetpricebeforetheexpirationdate.
Answer:
option
7. Futurescontractsare_________________________dailywhichmeansthatthefuturescontractssettledeachdayasthemarketvalueofthefuturescontractschange.
Answer:
markedtomarket
8. Mostoptionstodayaretradedona(n)_________________________.Theseoptionsarestandardizedtomakeoffsettinganexistingpositioneasier.
Answer:
organizedexchange
9. A(n)_________________________meansthatthebuyeroftheoptioncontractisbettingthatthemarketpriceoftheunderlyingsecuritywilldeclineinthefuture.
Answer:
putoption
10. A(n)_________________________meansthatthebuyeroftheoptioncontractisbettingthatthemarketpriceoftheunderlyingsecuritywillincreaseinthefuture.
Answer:
calloption
11. A(n)_________________________iswhereaborrowerwithalowercreditratingentersintoanagreementwithaborrowerwithahighercreditratingtoexchangeinterestpayments.
Answer:
qualityswap
12. Inaninterestrateswap,the________________________orprincipalamountisnotexchanged.
Answer:
notional
13. A(n)_________________________isaninterestrateswapwhichoffsetstheoriginalinterestrateswapagreement.
Answer:
reverseswap
14. Inaninterestrateswapagreement,__________________reducesthedefaultrisk.Thisiswheretheswappartiesexchangeonlythenetdifferencebetweeninterestpaymentsowed.
Answer:
netting
15. A(n)_________________________isacontractwheretwopartiesexchangeinterestpaymentsinordertosavemoneyandhedgeagainstinterestraterisk.
Answer:
interestrateswap
16. A(n)_________________________isanagreementbetweentwopartieswheretheyagreetoexchangedifferentcurrencies.Itisdesignedtoreduceexchangeraterisk.
Answer:
currencyswap
17. A(n)_________________________protectstheholderfromrisingmarketinterestrates.Itsetsthemaximuminterestratethatalendercanchargeontheloan.
Answer:
interestratecap
18. A(n)__________________________________________________protectsthelenderfromfallinginterestrates.Itistheminimumratethattheborrowermustpayonavariable-rateloan.
Answer:
interestratefloor
19. A(n)_________________________iswherethereisbothaminimumandamaximuminterestratesetonaloan.
Answer:
interestratecollar
20. Inaninterest-rateswap,theprincipalamountoftheloan,usuallycalledthe_________________________,isnotexchanged.
Answer:
notionalamount
21. Thecategoryofderivativecontractwiththelargestusebybanksis__________.
Answer:
swaps
22. The_______isthespreadbetweenthecashpriceandfuturespriceofanunderlyingasset.
Answer:
basis
23. Aninterest-rate________wouldprotecttheswappartyreceivingafloating-ratepaymentintheswap.
Answer:
floor
24. Aninterest-rate_______wouldprotecttheswappartyreceivingafixed-ratepaymentandpayingafloating-rateinaswap.
Answer:
cap
25. Thecombinationofbothacapandfloorisknownasaninterest-rate_________.
Answer:
collar
26.Onereasonthatbanksusederivativesistogenerateimportant,moneythatdoesnotcomefrominterestearnedonloansandsecurities.
Answer:
feeincome
27.arefinancialassetsthatderivetheirvaluefromsomeunderlyinginstrument.
Answer:
derivatives
28.Thelargestbanksaccountformorethan99percentofderivativesactivityintheU.S.
Answer:
25
29.Whenaninve
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