商业银行管理彼得S.罗斯英文原书第8版+英语试题库Chap009.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Chap009.doc
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Chapter9
RiskManagement:
Asset-BackedSecurities,LoanSales,CreditStandbys,andCreditDerivatives
FillintheBlankQuestions
1.Whenabanksetsasideagroupofincome-earningassetsandthensellssecuritiesbaseduponthose
assetsitis________________________thoseassets.
Answer:
securitizing
2.Oftenwhenloansaresecuritizedtheyarepassedontoa_________________________whopools
theloansandsellssecurities.
Answer:
specialpurposeentity
3.A(n)_________________________allowsahomeownertoborrowagainsttheresidualvalueof
theirresidence.
Answer:
homeequityloan
4._________________________allowthebanktogeneratefeeincomeaftertheyhavesoldaloan.
Thebankcontinuestocollectinterestandprincipalfromtheborrowersandpassesthesecollectionstotheloanbuyers.
Answer:
Servicingrights
5.Ina_________________________anoutsiderpurchasespartofaloanfromthesellingfinancial
institution.Generallythepurchaserhasnoinfluenceoverthetermsoftheloancontract.
Answer:
participationloan
6.A(n)_________________________isacontingentclaimofthebankthatissuesit.Theissuing
bank,inreturnforafee,guaranteestherepaymentofaloanreceivedbyitscustomerorthe
fulfillmentofacontractmadebyitscustomertoathirdparty.
Answer:
standbycreditagreement
7.A(n)_________________________occurswhentwobanksagreetoexchangeaportionorallof
theloanrepaymentsoftheircustomers.
Answer:
creditswap
8.A(n)__________________guardsagainstthelossesinthevalueofacreditasset.Itwouldpayoff
iftheassetdeclinessignificantlyinvalueorifitcompletelyturnsbad.
Answer:
creditoption.
TestBank,Chapter9146
9.A(n)_________________________combinesanormaldebtinstrumentwithacreditoption.It
allowstheissuerofthedebtinstrumenttoloweritsloanrepaymentsifsomesignificantfactorchanges.
Answer:
creditlinkednote
10.The_________________________ofastandbyletterofcreditisabankorotherinvestorwhois
concernedaboutthesafetyoffundscommittedtotherecipientofthestandbyletterofcredit.
Answer:
beneficiary
11.A(n)_________________________guaranteestheswappartiesaspecificrateofreturnontheir
creditasset.BankAmayagreetopaythetotalreturnontheloantoBankBplusanyappreciationinthemarketvalueoftheloan.InreturnBankAwilloftengetLIBORplusafixedspreadplusanydepreciationinthevalueoftheloan.
Answer:
totalreturnswap
12.The________________________isthepartythatisrequestingastandbyletterofcredit.
Answer:
accountparty
13.The__________________isthebankorfinancialinstitutionwhichguaranteesthepaymentofthe
loaninastandbyletterofcredit.
Answer:
issuer
14.A(n)_________________________isaloansalewhereownershipoftheloanistransferredtothe
buyeroftheloan,whothenhasadirectclaimagainsttheborrower.
Answer:
assignment
15.Anothertypeofloansaleisa(n)_________________________whichisashortdatedpieceofa
longermaturityloan,entitlingthepurchasertoafractionoftheexpectedloanincome.
Answer:
loanstrip
16.ArelativelynewtypeofcreditderivativeisaCDOwhichstandsfor__________________.
Answer:
collateralizeddebtobligation
17.Insurancecompaniesareaprime__________ofcreditderivatives.
Answer:
seller
18.A(n)isanover-the-counteragreementofferingprotectionagainstloss
whendefaultoccursonaloanorotherdebtinstrument.
Answer:
creditderivative
19.A(n)isrelatedtothecreditoptionandisusuallyaimedatlendersable
tohandlecomparativelylimiteddeclinesinvaluebutwantsinsuranceagainstseriouslosses.
Answer:
creditdefaultswap
20.Therehasbeenanexplosionininrecentyears.Theseinstrumentsreston
poolsofcreditderivativesthatmainlyinsureagainstdefaultsoncorporatebonds.Thecreatorsoftheseinstrumentsdonothavetobuyandpoolactualbondsbutcancreatetheseinstrumentsandgeneraterevenuesfromsellingandtradinginthem.
Answer:
syntheticCDOs(Collateralizeddebtobligations)
21.Aratesthesecuritiestobesoldfromapoolofsecuritizedloansso
thatinvestorshaveabetterideaofwhatthenewsecuritiesarelikelytobeworth.
Answer:
creditratingagency
22.A(n)isanassurancethatinvestorswillberepaidintheeventofthe
defaultoftheunderlyingloansinasecuritization.Thesecanbeinternalorexternaltothe
securitizationprocessandlowertheriskofthesecurities.
Answer:
creditenhancement
23.WhentheFHLMCcreatesCMOstheyoftenusedifferentwhicheach
promiseadifferentcouponrateandwhichhavedifferentmaturity
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