金融市场学双语题库及答案第二十四章米什金《金融市场与机构》Word文档下载推荐.docx
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金融市场学双语题库及答案第二十四章米什金《金融市场与机构》Word文档下载推荐.docx
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C)forwardcontracts
D)bothAandB
Chapter24.2ForwardMarkets
3)Whichofthefollowingisnotafinancialderivative?
A)Stocks
B)Futures
C)Options
D)Forwardcontracts
A
Chapter24.5Options
4)Acontractthatcallsfortheinvestorto(possibly)buysecuritiesonafuturedateiscalleda________.
A)shortcontract
B)longcontract
C)hedge
D)cross
B
Chapter24.1Hedging
UpdatedfromPreviousEdition
5)Acontractthatcallsfortheinvestorto(possibly)sellsecuritiesonafuturedateiscalleda________.
D)microhedge
6)Withalongcontract,theinvestor(may)
A)sellsecuritiesinthefuture.
B)buysecuritiesinthefuture.
C)hedgeinthefuture.
D)closeouthispositioninthefuture.
7)Withashortcontract,theinvestor(may)
8)Whichisnotaproblemofforwardcontracts?
A)Alackofliquidity
B)Alackofflexibility
C)Thedifficultyoffindingacounterparty
D)Defaultrisk
9)Bysellingshortafuturescontractof$100,000atapriceof115,youareagreeingtodeliver________facevaluesecuritiesfor________.
A)$100,000;
$115,000
B)$115,000;
$110,000
C)$100,000;
$100,000
D)$115,000;
10)Bysellingshortafuturescontractof$100,000atapriceof96,youareagreeingtodeliver________facevaluesecuritiesfor________.
$104,167
B)$96,000;
$96,000
D)$100,000;
11)Bybuyingalong$100,000futurescontractfor115,youagreetopay________for________facevaluesecurities.
C)$86,956;
D)$86,956;
12)Ifyousellashortcontractonfinancialfutures,youhopeinterestrateswill________.
A)rise
B)fall
C)notchange
D)fluctuate
13)Ifyoubuyalongcontractonfinancialfutures,youhopeinterestrateswill________.
14)Ifyousellashortfuturescontract,youhopethatbondpriceswill________.
15)Theeliminationofrisklessprofitopportunitiesinthefuturesmarketisreferredtoas________.
A)speculation
B)hedging
C)arbitrage
D)openinterest
E)marktomarket
16)Futurescontractsareregularlytradedonthe
A)ChicagoBoardofTrade.
B)NewYorkStockExchange.
C)AmericanStockExchange.
D)ChicagoBoardOptionsExchange.
17)Financialfuturesareregularlytradedonallofthefollowingexceptthe
B)ChicagoMercantileExchange.
C)NewYorkFuturesExchange.
D)ChicagoCommodityMarketsBoard.
D
18)Theagencyresponsibleforregulationofthefuturesexchangesandtradinginfinancialfuturesisthe
A)CommodityFuturesTradingCommission.
B)SecuritiesandExchangeCommission.
C)FederalTradeCommission.
D)FuturesExchangeCommission.
19)ThepurposeoftheCommodityFuturesTradingCommissionistodoallofthefollowingexcept
A)overseefuturestrading.
B)seethatpricesarenotmanipulated.
C)approveproposedfuturescontracts.
D)establishminimumpricesforfuturescontracts.
20)Thenumberofcontractsoutstandinginaparticularfinancialfutureisthe________.
A)demandcoefficient
B)openinterest
C)indexlevel
D)outstandingbalance
21)Thefuturesmarketshavegrownrapidlyinrecentyearsbecause
A)interestratevolatilityhasincreased.
B)financialmanagersaremoreriskaverse.
C)ofbothAandB.
D)ofneitherAnorB.
22)Theadvantageofforwardcontractsoverfuturescontractsisthatforwardcontracts
A)arestandardized.
B)havelowerdefaultrisk.
C)aremoreliquid.
D)arenoneoftheabove.
23)Theadvantageofforwardcontractsoverfuturescontractsisthatforwardcontracts
C)aremoreflexible.
D)bothAandBaretrue.
24)Futuresmarketshavegrownrapidlybecausefuturescontracts
C)areliquid.
D)arealloftheabove.
25)Futuresdifferfromforwardsbecausetheyare
A)usedtohedgeportfolios.
B)usedtohedgeindividualsecurities.
C)usedinbothfinancialandforeignexchangemarkets.
D)standardizedcontracts.
26)Futuresdifferfromforwardsbecausetheyare
D)markedtomarketdaily.
27)WhichofthefollowingfeaturesofTreasurybondfuturescontractswerenotdesignedtoincreaseliquidity?
A)standardizedcontracts
B)tradedupuntilmaturity
C)nottiedtoonespecifictypeofbond
D)markedtomarketdaily
28)WhichofthefollowingfeaturesofTreasurybondfuturescontractswerenotdesignedtoincreaseliquidity?
D)canbeclosedwithoffsettingtrade
29)Whenafinancialinstitutionhedgestheinterest-rateriskforaspecificasset,thehedgeiscalleda________.
A)macrohedge
B)microhedge
C)crosshedge
D)futureshedge
30)Whenafinancialinstitutionishedginginterest-rateriskonitsoverallportfolio,thehedgeisa________.
31)Theriskthatoccursbecausestockpricesfluctuateiscalled________.
A)stockmarketrisk
B)reinvestmentrisk
C)interest-raterisk
D)defaultrisk
Chapter24.4StockIndexFutures
32)Themostwidelytradedstockindexfutureisonthe
A)DowJones1000index.
B)S&
P500index.
C)NASDAQindex.
D)DowJones30index.
33)Whowouldbemostlikelytobuyalongstockindexfuture?
A)Amutualfundmanagerwhobelievesthemarketwillrise
B)Amutualfundmanagerwhobelievesthemarketwillfall
C)Amutualfundmanagerwhobelievesthemarketwillbestable
D)Noneoftheabovewouldbelikelytopurchaseafuturescontract
34)IfyoubuyafuturescontractontheS&
P500Indexatapriceof450andtheindexrisesto500,youwill________.
A)lose$12,500
B)gain$12,500
C)lose$50
D)gain$50
35)IfyousellafuturescontractontheS&
P500Indexatapriceof450andtheindexrisesto500,youwill________.
36)Whichofthefollowingisalikelyreasonforaportfoliomanagertosellastockindexfutureshort?
A)Hebelievesthemarketwillrise.
B)Hewant
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