商业银行管理彼得S罗斯英文原书第8版 英语试题库Chap009Word格式文档下载.docx
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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Chap009Word格式文档下载.docx
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3.A(n)_________________________allowsahomeownertoborrowagainsttheresidualvalueoftheirresidence.
homeequityloan
4._________________________allowthebanktogeneratefeeincomeaftertheyhavesoldaloan.Thebankcontinuestocollectinterestandprincipalfromtheborrowersandpassesthesecollectionstotheloanbuyers.
Servicingrights
5.Ina_________________________anoutsiderpurchasespartofaloanfromthesellingfinancialinstitution.Generallythepurchaserhasnoinfluenceoverthetermsoftheloancontract.
participationloan
6.A(n)_________________________isacontingentclaimofthebankthatissuesit.Theissuingbank,inreturnforafee,guaranteestherepaymentofaloanreceivedbyitscustomerorthefulfillmentofacontractmadebyitscustomertoathirdparty.
standbycreditagreement
7.A(n)_________________________occurswhentwobanksagreetoexchangeaportionoralloftheloanrepaymentsoftheircustomers.
creditswap
8.A(n)__________________guardsagainstthelossesinthevalueofacreditasset.Itwouldpayoffiftheassetdeclinessignificantlyinvalueorifitcompletelyturnsbad.
creditoption.
9.A(n)_________________________combinesanormaldebtinstrumentwithacreditoption.Itallowstheissuerofthedebtinstrumenttoloweritsloanrepaymentsifsomesignificantfactorchanges.
creditlinkednote
10.The_________________________ofastandbyletterofcreditisabankorotherinvestorwhoisconcernedaboutthesafetyoffundscommittedtotherecipientofthestandbyletterofcredit.
beneficiary
11.A(n)_________________________guaranteestheswappartiesaspecificrateofreturnontheircreditasset.BankAmayagreetopaythetotalreturnontheloantoBankBplusanyappreciationinthemarketvalueoftheloan.InreturnBankAwilloftengetLIBORplusafixedspreadplusanydepreciationinthevalueoftheloan.
totalreturnswap
12.The________________________isthepartythatisrequestingastandbyletterofcredit.
accountparty
13.The__________________isthebankorfinancialinstitutionwhichguaranteesthepaymentoftheloaninastandbyletterofcredit.
issuer
14.A(n)_________________________isaloansalewhereownershipoftheloanistransferredtothebuyeroftheloan,whothenhasadirectclaimagainsttheborrower.
assignment
15.Anothertypeofloansaleisa(n)_________________________whichisashortdatedpieceofalongermaturityloan,entitlingthepurchasertoafractionoftheexpectedloanincome.
loanstrip
16.ArelativelynewtypeofcreditderivativeisaCDOwhichstandsfor__________________.
collateralizeddebtobligation
17.Insurancecompaniesareaprime__________ofcreditderivatives.
seller
18.A(n)isanover-the-counteragreementofferingprotectionagainstlosswhendefaultoccursonaloanorotherdebtinstrument.
creditderivative
19.A(n)isrelatedtothecreditoptionandisusuallyaimedatlendersabletohandlecomparativelylimiteddeclinesinvaluebutwantsinsuranceagainstseriouslosses.
creditdefaultswap
20.Therehasbeenanexplosionininrecentyears.Theseinstrumentsrestonpoolsofcreditderivativesthatmainlyinsureagainstdefaultsoncorporatebonds.Thecreatorsoftheseinstrumentsdonothavetobuyandpoolactualbondsbutcancreatetheseinstrumentsandgeneraterevenuesfromsellingandtradinginthem.
syntheticCDOs(Collateralizeddebtobligations)
21.Aratesthesecuritiestobesoldfromapoolofsecuritizedloanssothatinvestorshaveabetterideaofwhatthenewsecuritiesarelikelytobeworth.
creditratingagency
22.A(n)isanassurancethatinvestorswillberepaidintheeventofthedefaultoftheunderlyingloansinasecuritization.Thesecanbeinternalorexternaltothesecuritizationprocessandlowertheriskofthesecurities.
creditenhancement
23.WhentheFHLMCcreatesCMOstheyoftenusedifferentwhicheachpromiseadifferentcouponrateandwhichhavedifferentmaturityandriskcharacteristics.
24.Lenderscansetasideagroupofloansontheirbalancesheet,issuebondsandpledgetheloansascollateralagainstthebondsin.Theseusuallystayonthebank’sbalancesheetasliabilities.
25.FNMA(FannieMae)andFHLMC(FreddieMac)areexamplesof.Theyappeartohavetheunofficialbackingofthefederalgovernmentintheeventofdefault.
governmentsponsoredenterprises(GSEs)
True/FalseQuestions
TF26.Securitizationisdesignedtoturnilliquidloansintoliquidassetsintheformofsecuritiessoldintheopenmarket.
True
TF27.Securitizationhastheaddedadvantageofgeneratingfeeincomeforbanks.
TF28.Securitizedassetscannotberemovedfromabank'
sbalancesheetuntiltheymature.
False
TF29.Securitizationraisesthelevelofcompetitionforthebest-qualityloansamongbanks.
TF30.Servicingrightsonloanssoldconsistofthecollectionofinterestandprincipalpaymentsfromborrowersandmonitoringborrowercompliancewithloanterms.
TF31.Aloansoldbyabanktoanotherinvestorwithrecoursemeansthebankhasgiventheinvestoracalloptionontheloan.
TF32.Anaccountpartywillseekabank'
sstandbycreditguaranteeifthebank'
sfeeforissuingtheguaranteeislessthanthevalueassignedtheguaranteebyitsbeneficiary.
TF33.Securitizationtendstolengthenthematurityofabank'
sassets.
TF34.SecuritizedassetsasasourceofbankfundsaresubjecttoreserverequirementssetbytheFederalReserveBoard.
TF35.Securitizationsofcommercialloansusuallycarrythesameregulatorycapitalrequirementsforabankastheoriginalloansthemselves.
TF36.Mostloansthatbankssellofftheirbalancesheetshaveminimumdenominationsofatleastamilliondollars.
TF37.Mostloansthatbankssellofftheirbalancesheetscarryinterestratesthatusuallyareconnectedtolong-terminterestrates(suchasthe30-yearTreasurybondrate).
TF38.Inaparticipationloanthepurchaserisanoutsidertotheloancontractbetweenthefinancialinstitutionsellingtheloanandtheborrower.
TF39.Thebuyerofaloanparticipationmustwatchboththeborrowerandthesellerbankclosely.
TF40.Underanassignmentownershipofaloanistransferredtothebuyer,thoughthebuyerstillholdsonlyanindirectclaimagainsttheborrower.
TF41.Loansalesaregenerallyviewedasrisk-reducingforthesellingfinancialinstitution.
TF42.InaCMO,thedifferenttiers(ortranches)ofsecuritypurchasersfacethesameprepaymentrisk.
TF43.Astandbyletterofcreditsubstantiallyreducestheissuingbank'
sinterestrateriskandliquidityrisk.
TF44.Securitizationofloanscaneasilybeappliedtobusinessloanssincetheseloanstendtohavesimilarcashflowschedulesandcomparableriskstructures.
TF45.Theadvantageofacreditswapisthatitallowseachbankintheswaptobroadenitsmarketareaandspreadoutitscreditriskonitsloans.
TF46.Bankuseofcreditderivativesisdominatedbythelargestbanks.
TF47.Thecreditderivativesmarkethasgrownnine-foldduringtherecentyears.
TF48.Banksaretheprincipalsellersofcreditderivatives.
TF49.Banksareoneoftheprincipalbuyersofcreditderivatives.
TF50.Insurancecompaniesareoneoftheprincipalsellersofcreditderivatives.
MultipleChoiceQuestions
51.Securitizedassetscarryauniqueformofriskcalled:
A)Defaultrisk
B)Inflationrisk
C)Interest-raterisk
D)Prepaymentrisk
E)Noneoftheabove
D
52.Short-datedpiecesofalonger-termloan,usuallymaturinginafewdaysorweeks,arecalled:
A)Loanparticipations
B)Servicingrights
C)Loanstrips
D)Sharedcredits
C
53.Thepartyforwhomastandbycreditletterisissuedbyabankisknownasthe:
A)Accountparty
B)Beneficiary
C)Representative
D)CreditGuarantor
A
54.Whenabankissuesastandbycreditguaranteeonbehalfofoneofitscustomers,thepartyreceivingtheguaranteeisknownasthe:
C)Obligator
D)Servicingagent
B
55.Securitizationhaditsorigininthesellingofsecuritiesbackedby_____________
A)Creditcardreceivables
B)Residentialmortgageloans
C)Computerleases
D)Automobileloans
E)Truckleases
56.Loan-backedsecurities,which
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