Chapter 01 The Investment EnvironmentWord文档下载推荐.docx
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Chapter 01 The Investment EnvironmentWord文档下载推荐.docx
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3.
Themeansbywhichindividualsholdtheirclaimsonrealassetsinawell-developedeconomyare
investmentassets.
depositoryassets.
derivativeassets.
financialassets.
exchange-drivenassets.
4.
_______is/arefinancialassets.
Onlybonds
Onlystocks
Stocksandbonds
Knowledge
5.
_________financialasset(s).
Buildingsare
Landisa
Derivativesare
U.S.Agencybondsare
DerivativesandU.S.Agencybondsare
6.
Financialassets______.
directlycontributetothecountry'
sproductivecapacity
indirectlycontributetothecountry'
contributetothecountry'
sproductivecapacitybothdirectlyandindirectly
donotcontributetothecountry'
sproductivecapacityeitherdirectlyorindirectly
areofnovaluetoanyone
7.
In2009,____________wasthemostsignificantrealassetofTaiwanesehouseholdsintermsoftotalvalue.
consumerdurablesandsemi-durables
foreignassets
realestate
mutualfunds
bankloans
8.
In2009,Currencyand____________weretheleastsignificantfinancialassetsofTaiwanesehouseholdsintermsoftotalvalue.
lifeinsurancereserves
debtsecuritiesandother
pensionfundreserves
9.
In2009,____________wasthemostsignificantfinancialassetofTaiwanesehouseholdsintermsoftotalvalue.
debtsecuritiesandother
lifeinsurancereserves
deposits
10.
In2009,____________wasthemostsignificantassetofTaiwanesehouseholdsintermsoftotalvalue.
11.
In2009,____________wasthemostsignificantliabilityofTaiwanesehouseholdsintermsoftotalvalue.
foreignliabilities
loans
accountspayable
otherdebt
12.
WhichofthefollowingfinancialassetsmadeupthegreatestproportionofthefinancialassetsheldbyTaiwanesehouseholds?
Deposits
Lifeinsurancereserves
Mutualfunds
Debtsecuritiesandother
Personaltrusts
13.
In2009,_______ofthetotalassetsofTaiwanesehouseholdsweredomesticfinancialassets.
20.4%
34.2%
56.5%
71.7%
82.5%
14.
ThelargestcomponentofdomesticnetworthofTaiwanin2009was____________.
A.equipment
otherassets
inventories
15.
ThesmallestcomponentofdomesticnetworthofTaiwanin2009was____________.
16.
ThenationalnetworthofTaiwanin2009(inNT$100million)was_________.
NT$154,111
NT$264,387
NT$426,698
NT$1,302,656
NT$1,709,836
17.
Afixed-incomesecuritypays____________.
afixedlevelofincomeforthelifeoftheowner
afixedstreamofincomeorastreamofincomethatisdeterminedaccordingtoaspecifiedformulaforthelifeofthesecurity
avariablelevelofincomeforownersonafixedincome
afixedorvariableincomestreamattheoptionoftheowner
arisklessreturnthatisfixedforlife
18.
Adebtsecuritypays____________.
19.
Moneymarketsecurities____________.
areshortterm
arehighlymarketable
aregenerallyverylowrisk
areshortterm,highlymarketable,andgenerallyverylowrisk
highlymarketableandgenerallyverylowrisk
20.
Anexampleofaderivativesecurityis/are______.
acommonshareofMicrosoft
anIntelbond
acommodityfuturescontractandacalloptiononIntelstock
acalloptiononIntelstockandanIntelbond
acommonshareofIntelstock
21.
Thevalueofaderivativesecurity_______.
dependsonthevalueoftherelatedsecurity
isunabletobecalculated
isunrelatedtothevalueoftherelatedsecurity
hasbeenenhancedduetotherecentmisuseandnegativepublicityregardingtheseinstruments
isworthlesstoday
22.
Althoughderivativescanbeusedasspeculativeinstruments,businessesmostoftenusethemto
____________.
attractcustomers
appeasestockholders
offsetdebt
hedgerisks
enhancetheirbalancesheets
23.
Financialassetscanpermitallofthefollowingexcept____________.
consumptiontiming
allocationofrisk
separationofownershipandcontrol
eliminationofrisk
easytransferofownership
24.
The____________referstothepotentialconflictbetweenmanagementandshareholders.
agencyproblem
diversificationproblem
liquidityproblem
solvencyproblem
regulatoryproblem
25.
Adisadvantageofusingstockoptionstocompensatemanagersisthat
itencouragesmangerstoundertakeprojectsthatwillincreasestockprice.
itencouragesmanagerstoengageinempirebuilding.
itcancreateanincentiveformangerstomanipulateinformationtopropupastockpricetemporarily,givingthemachancetocashoutbeforethepricereturnstoalevelreflectiveofthefirm'
strueprospects.
itcausesmanagerstotakeunduerisks.
itcausesmanagerstobetooconservative.
26.
Whichofthefollowingaremechanismsthathaveevolvedtomitigatepotentialagencyproblems?
I)Compensationintheformofthefirm'
sstockoptions
II)Hiringbickeringfamilymembersascorporatespies
III)Underperformingmanagementteamsbeingforcedoutbyboardsofdirectors
IV)Securityanalystsmonitoringthefirmclosely
V)Takeoverthreats
IIandV
I,III,andIV
I,III,IV,andV
III,IV,andV
I,III,andV
27.
Corporateshareholdersarebestprotectedfromincompetentmanagementdecisionsby
theabilitytoengageinproxyfights.
management'
scontrolofpecuniaryrewards.
theabilitytocallshareholdermeetings.
thethreatoftakeoverbyotherfirms.
one-share/one-voteelectionrules.
28.
Theoretically,takeoversshouldresultin___________.
improvedmanagement
increasedstockprice
increasedbenefitstoexistingmanagementoftakenoverfirm
improvedmanagementandincreasedstockprice
worsemanagementanddecreasedstockprice
29.
Duringtheperiodbetween2000and2002,alargenumberofscandalswereuncovered.Mostofthesescandalswererelatedto
I)manipulationoffinancialdatatomisrepresenttheactualconditionofthefirm.
II)misleadingandoverlyoptimisticresearchreportsproducedbyanalysts.
III)allocatingIPOstoexecutivesasaquidproquoforpersonalfavors.
IV)greenmail.
II,III,andIV
I,II,andIV
IIandIV
I,II,andIII
30.
TheSarbanes-OxleyAct____________.
requirescorporationstohavemoreindependentdirectors
requiresthefirm'
sCFOtopersonallyvouchforthefirm'
saccountingstatements
prohibitsauditingfirmsfromprovidingotherservicestoclients
requirescorporationstohavemoreindependentdirectorsandrequiresthefirm'
saccountingstatements,prohibitsauditingfirmsfromprovidingotherservicestoclients,andrequirescorporationstohavemoreindependentdirectorsandrequiresthefirm'
31.
Assetallocationrefersto____________.
choosingwhichsecuritiestoholdbasedontheirvaluation
investingonlyin"
safe"
securities
theallocationofassetsintobroadassetclasses
bottom-upanalysis
top-downanalysis
32.
Securityselectionrefersto____________.
movingassetsbetweenstocksandbonds
33.
Whichofthefollowingportfolioconstructionmethodsstartswithsecurityanalysis?
Top-down
Bottom-up
Middle-out
Buyandhold
Assetallocation
34.
Whichofthefollowingportfolioconstructionmethodsstartswithassetallocation?
35.
_______areexamplesoffinancialintermediaries.
Commercialbanks
Insurancecompanies
Investmentcompanies
Creditunions
Commercialbanks,insurancecompanies,investmentcompanies,andcreditunions
36.
Financialintermediariesexistbecausesmallinvestorscannotefficiently________.
diversifytheirportfolios
assesscreditriskofborrowers
advertiseforneededinvestments
diversifytheirportfolios,assesscreditriskofborrowers,oradvertiseforneededinvestments
diversifytheirportfoliosorassesscreditriskofborrowers
37.
___
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