货币银行学题库国际商学经济学 6.docx

货币银行学题库国际商学经济学 6.docx

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货币银行学题库国际商学经济学6

Chapter4

UnderstandingInterestRates

1 MultipleChoice

1）Ofthefollowingmeasuresofinterestrates,whichisconsideredbyeconomiststobethemostaccurate?

（a）Theyieldtomaturity

（b）Thecouponrate

（c）Thecurrentyield

（d）Theyieldonadiscountbasis

Answer:

A

QuestionStatus:

PreviousEdition

2）Theinterestratethateconomistsconsidertobethemostaccuratemeasureisthe

（a）currentyield.

（b）yieldtomaturity.

（c）yieldonadiscountbasis.

（d）couponrate.

Answer:

B

QuestionStatus:

PreviousEdition

3）Theinterestratethatequatesthepresentvalueofpaymentsreceivedfromadebtinstrumentwithitsvaluetodayisthe

（a）simpleinterestrate.

（b）discountrate.

（c）yieldtomaturity.

（d）realinterestrate.

Answer:

C

QuestionStatus:

PreviousEdition

4）Economistsconsiderthe______tobethemostaccuratemeasureofinterestrates.

（a）simpleinterestrate.

（b）discountrate.

（c）yieldtomaturity.

（d）realinterestrate.

Answer:

C

QuestionStatus:

PreviousEdition

5）Theconceptof_____isbasedonthecommon-sensenotionthatadollarpaidtoyouinthefutureislessvaluabletoyouthanadollartoday.

（a）presentvalue

（b）futurevalue

（c）interest

（d）deflation

Answer:

A

QuestionStatus:

PreviousEdition

6）Theprocessofcalculatingwhatdollarsreceivedinthefutureareworthtodayiscalled

（a）calculatingtheyieldtomaturity.

（b）discountingthefuture.

（c）deflatingthefuture.

（d）noneoftheabove.

Answer:

B

QuestionStatus:

PreviousEdition

7）Toclaimthatalotterywinnerwhoistoreceive$1millionperyearfortwentyyearshaswon$20millionignorestheconceptof

（a）amortizingaloan.

（b）parvalue.

（c）deflation.

（d）discountingthefuture.

（e）facevalue.

Answer:

D

QuestionStatus:

New

8）Thepresentvalueofalotteryprizepaying$1millioneachyearfortwentyyears,discountedatarateof10percent,isworth

（a）morethen$30million.

（b）between$20millionand$30million.

（c）exactly$20million.

（d）$18million.

（e）lessthan$10million.

Answer:

E

QuestionStatus:

New

9）Withaninterestrateof5percent,thepresentvalueof$100nextyearisapproximately

（a）$100.

（b）$105.

（c）$95.

（d）$90.

Answer:

C

QuestionStatus:

PreviousEdition

10）Withaninterestrateof10percent,thepresentvalueofasecuritythatpays$1,100nextyearand$1,460fouryearsfromnowis:

（a）$1,000.

（b）$2,560.

（c）$3,000.

（d）$2,000.

Answer:

D

QuestionStatus:

PreviousEdition

11）Ifasecuritypays$110nextyearand$121theyearafterthat,whatisitsyieldtomaturityifitsellsfor$200?

（a）9percent

（b）10percent

（c）11percent

（d）12percent

Answer:

B

QuestionStatus:

PreviousEdition

12）Withaninterestrateof8percent,thepresentvalueof$100nextyearisapproximately

（a）$108.

（b）$100.

（c）$96.

（d）$93.

Answer:

D

QuestionStatus:

PreviousEdition

13）Withaninterestrateof6percent,thepresentvalueof$100nextyearisapproximately

（a）$106.

（b）$100.

（c）$94.

（d）$92.

Answer:

C

QuestionStatus:

PreviousEdition

14）Withaninterestrateof4percent,thepresentvalueof$100nextyearisapproximately

（a）$104.

（b）$100.

（c）$96.

（d）$92.

Answer:

C

QuestionStatus:

PreviousEdition

15）Ifasecuritypays$105nextyearand$110theyearafterthat,whatisitsyieldtomaturityifitsellsfor$200?

（a）4percent

（b）5percent

（c）6percent

（d）10percent

Answer:

B

QuestionStatus:

PreviousEdition

16）Asecuritythatpays$52.50inoneyearand$110.25intwoyears,withaninterestrateof5percent,hasapresentvalueof

（a）$150.

（b）$162.50.

（c）$200.

（d）$300.

（e）$400.

Answer:

A

QuestionStatus:

StudyGuide

17）Ifasecuritypays$55inoneyearand$133inthreeyears,itspresentvalueis$150iftheinterestrateis

（a）5percent.

（b）10percent.

（c）12.5percent.

（d）15percent.

（e）20percent.

Answer:

B

QuestionStatus:

StudyGuide

18）Acreditmarketinstrumentthatprovidestheborrowerwithanamountoffundsthatmustberepaidatthematuritydatealongwithaninterestpaymentisknownasa

（a）simpleloan.

（b）fixed-paymentloan.

（c）couponbond.

（d）discountbond.

Answer:

A

QuestionStatus:

PreviousEdition

19）Whichofthefollowingaretrueofsimpleloans?

（a）Asimpleloanrequirestheborrowertorepaytheprincipalandinterestatthematuritydate.

（b）Commercialloanstobusinessesareoftenofthistype.

（c）Theborrowerrepaystheloanbymakingthesamepaymenteverymonth.

（d）Both（a）and（b）oftheabove.

（e）Both（b）and（c）oftheabove.

Answer:

D

QuestionStatus:

PreviousEdition

20）Whichofthefollowingaretrueofsimpleloans?

（a）Asimpleloanrequirestheborrowertorepaytheprincipalandinterestatthematuritydate.

（b）Installmentloansandmortgagesarefrequentlyofthefixedpaymenttype.

（c）Theborrowerrepaystheloanbymakingthesamepaymenteverymonth.

（d）Both（a）and（b）oftheabove.

（e）Both（b）and（c）oftheabove.

Answer:

A

QuestionStatus:

PreviousEdition

21）Forasimpleloan,thesimpleinterestrateequalsthe

（a）realinterestrate.

（b）nominalinterestrate.

（c）currentyield.

（d）yieldtomaturity.

Answer:

D

QuestionStatus:

PreviousEdition

22）Forsimpleloans,thesimpleinterestrateis_____theyieldtomaturity.

（a）greaterthan

（b）lessthan

（c）equalto

（d）notcomparableto

Answer:

C

QuestionStatus:

PreviousEdition

23）Foratwo-yearsimpleloanof$1000at10percentinterest,theamountpayableintwoyearsis

（a）$1010.

（b）$1100.

（c）$1121.

（d）$1200.

（e）$1210.

Answer:

E

QuestionStatus:

New

24）If$1102.50istheamountpayableintwoyearsfora$1000simpleloanmadetoday,theinterestrateis

（a）2.5percent.

（b）5percent.

（c）10percent.

（d）12.5percent.

（e）20percent.

Answer:

B

QuestionStatus:

New

25）Iftheamountpayableintwoyearsis$2420forasimpleloanat10percentinterest,theloanamountis

（a）$1000.

（b）$1210.

（c）$2000.

（d）$2200.

（e）$2400.

Answer:

C

QuestionStatus:

New

26）Fora3-yearsimpleloanof$10,000at10percent,theamounttoberepaidis

（a）$10,030.

（b）$10,300.

（c）$10,333.

（d）$13,000.

（e）$13,310.

Answer:

E

QuestionStatus:

New

27）Iftheamountpayableintwoyearsis$18,150forasimpleloanat10percentinterest,theloanamountis

（a）$18,000.

（b）$15,000.

（c）$12,000.

（d）$10,000.

（e）$8,000.

Answer:

B

QuestionStatus:

New

28）If$22,050istheamountpayableintwoyearsfora$20,000simpleloanmadetoday,theinterestrateis

（a）5percent.

（b）10percent.

（c）22percent.

（d）25percent.

（e）205percent.

Answer:

A

QuestionStatus:

New

29）Aloanthatrequirestheborrowertomakethesamepaymenteveryperioduntilthematuritydateiscalleda

（a）simpleloan.

（b）fixed-paymentloan.

（c）discountloan.

（d）asame-paymentloan.

（e）noneoftheabove.

Answer:

B

QuestionStatus:

PreviousEdition

30）Acreditmarketinstrumentthatrequirestheborrowertomakethesamepaymenteveryperioduntilthematuritydateisknownasa

（a）simpleloan.

（b）fixed-paymentloan.

（c）couponbond.

（d）discountbond.

Answer:

B

QuestionStatus:

PreviousEdition

31）Whichofthefollowingaretrueoffixedpaymentloans?

（a）Theborrowerrepaysboththeprincipalandinterestatthematuritydate.

（b）Installmentloansandmortgagesarefrequentlyofthefixedpaymenttype.

（c）Theborrowerrepaystheloanbymakingthesamepaymenteverymonth.

（d）Both（a）and（b）oftheabove.

（e）Both（b）and（c）oftheabove.

Answer:

E

QuestionStatus:

PreviousEdition

32）Afullyamortizedloanisanothernamefor

（a）asimpleloan.

（b）afixed-paymentloan.

（c）acommercialloan.

（d）asecuredloan.

（e）anunsecuredloan.

Answer:

B

QuestionStatus:

New

33）Acouponbondpaystheownerofthebond

（a）thesameamounteverymonthuntilmaturitydate.

（b）thefacevalueofthebondplusaninterestpaymentoncethematuritydatehasbeenreached.

（c）afixed-interestpaymenteveryperiodandrepaysthefacevalueatthematuritydate.

（d）thefacevalueatthematuritydate.

（e）noneoftheabove.

Answer:

C

QuestionStatus:

PreviousEdition

34）Acreditmarketinstrumentthatpaystheownerafixedcouponpaymenteveryyearuntilthematuritydateandthenrepaysthefacevalueiscalleda

（a）simpleloan.

（b）fixed-paymentloan.

（c）couponbond.

（d）discountbond.

Answer:

C

QuestionStatus:

PreviousEdition

35）A______paystheownerafixedcouponpaymenteveryyearuntilthematuritydate,whenthe______valueisrepaid.

（a）couponbond;discount

（b）discountbond;discount

（c）couponbond;face

（d）discountbond;face

Answer:

C

QuestionStatus:

PreviousEdition

36）Whichofthefollowingaretrueofcouponbonds?

（a）Theownerofacouponbondreceivesafixedinterestpaymenteveryyearuntilthematuritydate,whenthefaceorparvalueisrepaid.

（b）U.S.Treasurybondsandnotesareexamplesofcouponbonds.

（c）Corporatebondsareexamplesofcouponbonds.

（d）Alloftheabove.

（e）Only（a）and（b）oftheabove.

Answer:

D

QuestionStatus:

PreviousEdition

37）Acouponbondisidentifiableinwhichofthefollowingways?

（a）Theissuinggovernmentagencyorfirm.

（b）Thematuritydateofthebond.

（c）Thebond’scouponrate.

（d）Alloftheabove.

（e）Only（b）and（c）oftheabove.

Answer:

D

QuestionStatus:

PreviousEdition

38）Acouponbondisidentifiableinwhichofthefollowingways?

（a）Theissuinggovernmentagencyorfirm

（b）Thematuritydateofthebond

（c）Thebond’syieldtomaturity

（d）Alloftheabove

（e）Only（a）and（b）oftheabove

Answer:

E

QuestionStatus:

PreviousEdition

39）Whichofthefollowingaretrueforacouponbond?

（a）Whenthecouponbondispricedatitsfacevalue,