金融市场与机构 24Word格式文档下载.docx
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(a)adverseselectionproblem.
(b)lemonproblem.
(c)adversecreditriskproblem.
(d)moralhazardproblem.
D
4.Banks’attemptstosolveadverseselectionandmoralhazardproblemshelpexplainloanmanagementprinciplessuchas
(a)screeningandmonitoringofloanapplicants.
(b)collateralandcompensatingbalances.
(c)creditrationing.
(d)alloftheabove.
(e)only(a)and(b)oftheabove.
5.Inonesense,_________appearssurprisingsinceitmeansthatthebankisnot_________itsportfolioofloansandthusisexposingitselftomorerisk.
(a)specializationinlending;
diversifying
(b)specializationinlending;
rationing
(c)creditrationing;
(d)screening;
6.Fromthestandpointof_________,specializationinlendingissurprisingbutmakesperfectsensewhenoneconsidersthe_________problem.
(a)moralhazard;
diversification
(b)diversification;
moralhazard
(c)adverseselection;
(d)diversification;
adverseselection
7.Provisionsinloancontractsthatproscribeborrowersfromengaginginspecifiedriskyactivitiesarecalled
(a)proscriptionbonds.
(b)collateralclauses.
(c)restrictivecovenants.
(d)liens.
C
8.Banksattempttoscreengoodfrombadcreditriskstoreducetheincidenceofloandefaults.Todothis,banks
(a)specializeinlendingtocertainindustriesorregions.
(b)writerestrictivecovenantsintoloancontracts.
(c)expendresourcestoacquireaccuratecredithistoriesoftheirpotentialloancustomers.
(d)doalloftheabove.
9.Abank’scommitment(foraspecifiedfutureperiodoftime)toprovideafirmwithloansuptoagivenamountataninterestratethatistiedtoamarketinterestrateiscalled
(a)creditrationing.
(b)alineofcredit.
(c)continuousdealings.
(d)noneoftheabove.
10.Linesofcreditandlong-termrelationshipsbetweenbanksandtheircustomers
(a)reducethecostsofinformationcollection.
(b)makeiteasierforbankstoscreengoodfrombadrisks.
(c)enablebankstodealwithmoralhazardcontingenciesthatareneitheranticipatednorspecifiedinrestrictivecovenants.
(e)doonly(a)and(b)oftheabove.
11.Compensatingbalances
(a)areaparticularformofcollateralcommonlyrequiredoncommercialloans.
(b)arearequiredminimumamountoffundsthataborrower(i.e.,afirmreceivingaloan)mustkeepinacheckingaccountatthebank.
(c)allowbankstomonitorfirms’checkpaymentpracticeswhichcanyieldinformationabouttheirborrowers’financialconditions.
12.Abankthatwantstomonitorthecheckpaymentpracticesofitscommercialborrowers,sothatmoralhazardcanbeprevented,willrequireborrowersto
(a)placeabankofficerontheirboardofdirectors.
(b)placeacorporateofficeronthebank’sboardofdirectors.
(c)keepcompensatingbalancesinacheckingaccountatthebank.
13.Ofthefollowingmethodsthatbanksmightusetoreducemoralhazardproblems,theonenotlegallypermittedintheUnitedStatesistherequirementthat
(a)firmskeepcompensatingbalancesatthebanksfromwhichtheyobtaintheirloans.
(b)firmsplaceontheirboardofdirectorsanofficerfromthebank.
(c)loancontractsincluderestrictivecovenants.
(d)individualsprovidedetailedcredithistoriestobankloanofficers.
14.Whenalenderrefusestomakealoan,althoughborrowersarewillingtopaythestatedinterestrateorevenahigherrate,itissaidtoengagein
(a)constrainedlending.
(b)strategicrefusal.
(d)collusivebehavior.
15.Whenalenderrefusestomakealoan,eventhoughborrowersarewillingtopaythestatedinterestrateorevenahigherrate,itissaidtoengagein
(a)specializedlending.
(c)diversifiedlending.
(d)coercivebehavior.
(e)noneoftheabove.
E
16.Creditrationingoccurswhenabank
(a)refusestomakealoanofanyamounttoaborrower,evenwhensheiswillingtopayahigherinterestrate.
(b)restrictstheamountofaloantolessthantheborrowerwouldlike.
(c)doeseither(a)or(b)oftheabove.
(d)doesneither(a)nor(b)oftheabove.
17.Becauselargerloanscreategreaterincentivesforborrowerstoengageinundesirableactivitiesthatmakeitlesslikelytheywillrepaytheloans,banks
(a)rationcredit,grantingborrowerssmallerloansthantheyhaverequested.
(b)rationcredit,charginghigherinterestratestoborrowerswhowantlargeloansthantothosewhowantsmallloans.
(c)rationcredit,charginghigherfeesasapercentageoftheloantoborrowerswhowantlargeloansthantothosewhowantsmallloans.
(d)dononeoftheabove.
18.Whenbanksofferborrowerssmallerloansthantheyhaverequested,banksaresaidto
(a)shavecredit.
(b)discounttheloan.
(c)razecredit.
(d)rationcredit.
19.Whichofthefollowingarenotrate-sensitiveassets?
(a)Securitieswithamaturityoflessthanoneyear.
(b)Variable-ratemortgages.
(c)Fixed-ratemortgages.
(d)Alloftheabovearerate-sensitiveassets.
(e)Noneoftheaboveisarate-sensitiveasset.
20.Liabilitiesthatarepartially,butnotfully,rate-sensitiveinclude
(a)checkabledeposits.
(b)federalfunds.
(c)non-negotiableCDs.
(d)fixed-ratemortgages.
(e)moneymarketdepositaccounts.
21.Ifabankhasmorerate-sensitiveliabilitiesthanrate-sensitiveassets,thena(n)_________ininterestrateswill_________bankprofits.
(a)increase;
increase
(b)increase;
reduce
(c)decline;
(d)decline;
notaffect
22.Ifabankhasmorerate-sensitiveassetsthanrate-sensitiveliabilities,thena(n)_________ininterestrateswill_________bankprofits.
23.Ifabankhas_________rate-sensitiveassetsthanrate-sensitiveliabilities,thena(n)_________ininterestrateswillincreasebankprofits.
(a)more;
decline
(b)more;
(c)less;
(d)both(a)and(c)
24.Thedifferencebetweenrate-sensitiveliabilitiesandrate-sensitiveassetsisknownasthe
(a)duration.
(b)interest-sensitivityindex.
(c)interest-rateriskindex.
(d)gap.
Table24.1
FirstNationalBank
Assets
Liabilities
Rate-sensitive
$20million
$50million
Fixed-rate
$80million
$40million
25.ReferringtoTable24.1,FirstNationalBankhasagapof_________.
(a)–30
(b)+30
(c)60
(d)0
26.ReferringtoTable24.1,ifinterestratesriseby5percentagepoints,thenbankprofits(measuredusinggapanalysis)will
(a)declineby$0.5million.
(b)declineby$1.5million.
(c)declineby$2.5million.
(d)increaseby$1.5million.
27.RefertoTable24.1.Assumingthattheaveragedurationofitsassetsisfiveyears,whiletheaveragedurationofitsliabilitiesisthreeyears,ariseininterestratesfrom5percentto10percentwillcausethenetworthofFirstNationalto_________by_________ofthetotaloriginalassetvalue.
11percent
(b)decline;
(c)increase;
10percent
5percent
Table24.2
$60million
28.ReferringtoTable24.2,FirstNationalBankhasagapof_________.
(a)–10
(b)10
(c)20
29.ReferringtoTable24.2,ifinterestratesriseby5percentagepoints,thenbankprofits(measuredusinggapanalysis)will
(d)increaseby$2.0million.
30.RefertoTable24.2.Assumingthattheaveragedurationofthebank’sassetsisfouryears,whiletheaveragedurationofitsliabilitiesisthreeyears,ariseininterestratesfrom5percentto10percentwillcausethenetworthofFirstNationalto_________by_________ofthetotaloriginalassetvalue.
(a)decline;
1.3percent
6.2percent
(d)increase;
31.IfFirstStateBankhasagapequaltoapositive$20million,thena5percentagepointdropininterestrateswillcauseprofitsto
(a)increaseby$10million.
(b)increaseby$1.0million.
(c)declineby$10million.
(d)declineby$1.0million.
32.IfFirstNationalBankhasagapequaltoanegative$30million,thena5percentagepointincreaseininterestrateswillcauseprofitsto
(a)increaseby$15million.
(b)increaseby$1.5million.
(c)declineby$15million.
(d)declineby$1.5million.
33.Measuringthesensitivityofbankprofitstochangesininterestratesbymultiplyingthegaptimesthechangeintheinterestrateiscalled
(a)basicdurationanalysis.
(b)basicgapanalysi