第5单元 金融考试题 西南财经大学天府学院.docx
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第5单元 金融考试题 西南财经大学天府学院.docx
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第5单元金融考试题西南财经大学天府学院
FinancialMarketsandInstitutions,7e(Mishkin)
Chapter5HowDoRiskandTermStructureAffectInterestRates?
5.1MultipleChoice
1)Thetermstructureofinterestratesis
A)therelationshipamonginterestratesofdifferentbondswiththesameriskandmaturity.
B)thestructureofhowinterestratesmoveovertime.
C)therelationshipamongthetermstomaturityofdifferentbondsfromdifferentissuers.
D)therelationshipamonginterestratesonbondswithdifferentmaturitiesbutsimilarrisk.
Answer:
D
2)Theriskstructureofinterestratesis
A)thestructureofhowinterestratesmoveovertime.
B)therelationshipamonginterestratesofdifferentbondswiththesamematurity.
C)therelationshipamongthetermstomaturityofdifferentbonds.
D)therelationshipamonginterestratesonbondswithdifferentmaturities.
Answer:
B
3)Whichofthefollowinglong-termbondsshouldhavethelowestinterestrate?
A)CorporateBaabonds
B)U.S.Treasurybonds
C)CorporateAaabonds
D)Municipalbonds
Answer:
D
4)Whichofthefollowinglong-termbondsshouldhavethehighestinterestrate?
A)CorporateBaabonds
B)U.S.Treasurybonds
C)CorporateAaabonds
D)Municipalbonds
Answer:
A
5)Theriskpremiumoncorporatebondsbecomessmallerif
A)theriskinessofcorporatebondsincreases.
B)theliquidityofcorporatebondsincreases.
C)theliquidityofcorporatebondsdecreases.
D)theriskinessofcorporatebondsdecreases.
E)eitherBorDoftheaboveoccur.
Answer:
E
6)Bondswithrelativelylowriskofdefaultarecalled
A)zerocouponbonds.
B)junkbonds.
C)investment-gradebonds.
D)noneoftheabove.
Answer:
C
7)Bondswithrelativelyhighriskofdefaultarecalled
A)Bradybonds.
B)junkbonds.
C)zerocouponbonds.
D)investment-gradebonds.
Answer:
B
8)Acorporationsufferingbiglossesmightbemorelikelytosuspendinterestpaymentsonitsbonds,thereby
A)raisingthedefaultriskandcausingthedemandforitsbondstorise.
B)raisingthedefaultriskandcausingthedemandforitsbondstofall.
C)loweringthedefaultriskandcausingthedemandforitsbondstorise.
D)loweringthedefaultriskandcausingthedemandforitsbondstofall.
Answer:
B
9)(I)Ifacorporationsuffersbiglosses,thedemandforitsbondswillrisebecauseofthehigherinterestratesthefirmmustpay.
(II)Thespreadbetweentheinterestratesonbondswithdefaultriskanddefault-freebondsiscalledtheriskpremium.
A)(I)istrue,(II)false.
B)(I)isfalse,(II)true.
C)Botharetrue.
D)Botharefalse.
Answer:
B
10)Holdingeverythingelseconstant,ifacorporationbeginstosufferlargelosses,thenthedefaultriskonitsbondswill________andtheexpectedreturnonthosebondswill________.
A)increase:
increase
B)decrease;increase
C)increase;decrease
D)decrease;decrease
Answer:
C
11)Holdingeverythingelsethesame,ifacorporation'searningsrise,thenthedefaultriskonitsbondswill________andtheexpectedreturnonthosebondswill________.
A)increase;decrease
B)decrease;decrease
C)increase;increase
D)decrease;increase
Answer:
D
12)Ifacorporationbeginstosufferlargelosses,thenthedefaultriskonitsbondswill________andtheequilibriuminterestrateonthesebondswill________.
A)increase;decrease
B)decrease;increase
C)increase;increase
D)decrease;decrease
Answer:
C
13)Ifacorporation'searningsrise,thenthedefaultriskonitsbondswill________andtheequilibriuminterestrateonthesebondswill________.
A)increase;decrease
B)decrease;decrease
C)increase;increase
D)decrease;increase
Answer:
B
14)Whenthedefaultriskoncorporatebondsdecreases,otherthingsequal,thedemandcurveforcorporatebondsshiftstothe________andthedemandcurveforTreasurybondsshiftstothe________.
A)right;right
B)right;left
C)left;left
D)left;right
Answer:
B
15)(I)Anincreaseindefaultriskoncorporatebondsshiftsthedemandcurveforcorporatebondstotheright.
(II)AnincreaseindefaultriskoncorporatebondsshiftsthedemandcurveforTreasurybondstotheleft.
A)(I)istrue,(II)false.
B)(I)isfalse,(II)true.
C)Botharetrue.
D)Botharefalse.
Answer:
D
16)(I)Anincreaseindefaultriskoncorporatebondsshiftsthedemandcurveforcorporatebondstotheleft.
(II)AnincreaseindefaultriskoncorporatebondsshiftsthedemandcurveforTreasurybondstotheright.
A)(I)istrue,(II)false.
B)(I)isfalse,(II)true.
C)Botharetrue.
D)Botharefalse.
Answer:
C
17)Thespreadbetweeninterestratesonlow-qualitycorporatebondsandU.S.governmentbonds________duringtheGreatDepression.
A)wasreversed
B)narrowedsignificantly
C)widenedsignificantly
D)didnotchange
Answer:
C
18)Asaresulto
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