商业银行管理彼得S罗斯英文原书第8版英语试题库Chap009Word文档格式.docx

商业银行管理彼得S罗斯英文原书第8版英语试题库Chap009Word文档格式.docx

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3.A（n）_________________________allowsahomeownertoborrowagainsttheresidualvalueoftheirresidence.

homeequityloan

4._________________________allowthebanktogeneratefeeincomeaftertheyhavesoldaloan.Thebankcontinuestocollectinterestandprincipalfromtheborrowersandpassesthesecollectionstotheloanbuyers.

Servicingrights

5.Ina_________________________anoutsiderpurchasespartofaloanfromthesellingfinancialinstitution.Generallythepurchaserhasnoinfluenceoverthetermsoftheloancontract.

participationloan

6.A（n）_________________________isacontingentclaimofthebankthatissuesit.Theissuingbank,inreturnforafee,guaranteestherepaymentofaloanreceivedbyitscustomerorthefulfillmentofacontractmadebyitscustomertoathirdparty.

standbycreditagreement

7.A（n）_________________________occurswhentwobanksagreetoexchangeaportionoralloftheloanrepaymentsoftheircustomers.

creditswap

8.A（n）__________________guardsagainstthelossesinthevalueofacreditasset.Itwouldpayoffiftheassetdeclinessignificantlyinvalueorifitcompletelyturnsbad.

creditoption.

9.A（n）_________________________combinesanormaldebtinstrumentwithacreditoption.Itallowstheissuerofthedebtinstrumenttoloweritsloanrepaymentsifsomesignificantfactorchanges.

creditlinkednote

10.The_________________________ofastandbyletterofcreditisabankorotherinvestorwhoisconcernedaboutthesafetyoffundscommittedtotherecipientofthestandbyletterofcredit.

beneficiary

11.A（n）_________________________guaranteestheswappartiesaspecificrateofreturnontheircreditasset.BankAmayagreetopaythetotalreturnontheloantoBankBplusanyappreciationinthemarketvalueoftheloan.InreturnBankAwilloftengetLIBORplusafixedspreadplusanydepreciationinthevalueoftheloan.

totalreturnswap

12.The________________________isthepartythatisrequestingastandbyletterofcredit.

accountparty

13.The__________________isthebankorfinancialinstitutionwhichguaranteesthepaymentoftheloaninastandbyletterofcredit.

issuer

14.A（n）_________________________isaloansalewhereownershipoftheloanistransferredtothebuyeroftheloan,whothenhasadirectclaimagainsttheborrower.

assignment

15.Anothertypeofloansaleisa（n）_________________________whichisashortdatedpieceofalongermaturityloan,entitlingthepurchasertoafractionoftheexpectedloanincome.

loanstrip

16.ArelativelynewtypeofcreditderivativeisaCDOwhichstandsfor__________________.

collateralizeddebtobligation

17.Insurancecompaniesareaprime__________ofcreditderivatives.

seller

18.A（n）isanover-the-counteragreementofferingprotectionagainstlosswhendefaultoccursonaloanorotherdebtinstrument.

creditderivative

19.A（n）isrelatedtothecreditoptionandisusuallyaimedatlendersabletohandlecomparativelylimiteddeclinesinvaluebutwantsinsuranceagainstseriouslosses.

creditdefaultswap

20.Therehasbeenanexplosionininrecentyears.Theseinstrumentsrestonpoolsofcreditderivativesthatmainlyinsureagainstdefaultsoncorporatebonds.Thecreatorsoftheseinstrumentsdonothavetobuyandpoolactualbondsbutcancreatetheseinstrumentsandgeneraterevenuesfromsellingandtradinginthem.

syntheticCDOs（Collateralizeddebtobligations）

21.Aratesthesecuritiestobesoldfromapoolofsecuritizedloanssothatinvestorshaveabetterideaofwhatthenewsecuritiesarelikelytobeworth.

creditratingagency

22.A（n）isanassurancethatinvestorswillberepaidintheeventofthedefaultoftheunderlyingloansinasecuritization.Thesecanbeinternalorexternaltothesecuritizationprocessandlowertheriskofthesecurities.

creditenhancement

23.WhentheFHLMCcreatesCMOstheyoftenusedifferentwhicheachpromiseadifferentcouponrateandwhichhavedifferentmaturityandriskcharacteristics.

24.Lenderscansetasideagroupofloansontheirbalancesheet,issuebondsandpledgetheloansascollateralagainstthebondsin.Theseusuallystayonthebank’sbalancesheetasliabilities.

25.FNMA（FannieMae）andFHLMC（FreddieMac）areexamplesof.Theyappeartohavetheunofficialbackingofthefederalgovernmentintheeventofdefault.

governmentsponsoredenterprises（GSEs）

True/FalseQuestions

TF26.Securitizationisdesignedtoturnilliquidloansintoliquidassetsintheformofsecuritiessoldintheopenmarket.

True

TF27.Securitizationhastheaddedadvantageofgeneratingfeeincomeforbanks.

TF28.Securitizedassetscannotberemovedfromabank'

sbalancesheetuntiltheymature.

False

TF29.Securitizationraisesthelevelofcompetitionforthebest-qualityloansamongbanks.

TF30.Servicingrightsonloanssoldconsistofthecollectionofinterestandprincipalpaymentsfromborrowersandmonitoringborrowercompliancewithloanterms.

TF31.Aloansoldbyabanktoanotherinvestorwithrecoursemeansthebankhasgiventheinvestoracalloptionontheloan.

TF32.Anaccountpartywillseekabank'

sstandbycreditguaranteeifthebank'

sfeeforissuingtheguaranteeislessthanthevalueassignedtheguaranteebyitsbeneficiary.

TF33.Securitizationtendstolengthenthematurityofabank'

sassets.

TF34.SecuritizedassetsasasourceofbankfundsaresubjecttoreserverequirementssetbytheFederalReserveBoard.

TF35.Securitizationsofcommercialloansusuallycarrythesameregulatorycapitalrequirementsforabankastheoriginalloansthemselves.

TF36.Mostloansthatbankssellofftheirbalancesheetshaveminimumdenominationsofatleastamilliondollars.

TF37.Mostloansthatbankssellofftheirbalancesheetscarryinterestratesthatusuallyareconnectedtolong-terminterestrates（suchasthe30-yearTreasurybondrate）.

TF38.Inaparticipationloanthepurchaserisanoutsidertotheloancontractbetweenthefinancialinstitutionsellingtheloanandtheborrower.

TF39.Thebuyerofaloanparticipationmustwatchboththeborrowerandthesellerbankclosely.

TF40.Underanassignmentownershipofaloanistransferredtothebuyer,thoughthebuyerstillholdsonlyanindirectclaimagainsttheborrower.

TF41.Loansalesaregenerallyviewedasrisk-reducingforthesellingfinancialinstitution.

TF42.InaCMO,thedifferenttiers（ortranches）ofsecuritypurchasersfacethesameprepaymentrisk.

TF43.Astandbyletterofcreditsubstantiallyreducestheissuingbank'

sinterestrateriskandliquidityrisk.

TF44.Securitizationofloanscaneasilybeappliedtobusinessloanssincetheseloanstendtohavesimilarcashflowschedulesandcomparableriskstructures.

TF45.Theadvantageofacreditswapisthatitallowseachbankintheswaptobroadenitsmarketareaandspreadoutitscreditriskonitsloans.

TF46.Bankuseofcreditderivativesisdominatedbythelargestbanks.

TF47.Thecreditderivativesmarkethasgrownnine-foldduringtherecentyears.

TF48.Banksaretheprincipalsellersofcreditderivatives.

TF49.Banksareoneoftheprincipalbuyersofcreditderivatives.

TF50.Insurancecompaniesareoneoftheprincipalsellersofcreditderivatives.

MultipleChoiceQuestions

51.Securitizedassetscarryauniqueformofriskcalled:

A）Defaultrisk

B）Inflationrisk

C）Interest-raterisk

D）Prepaymentrisk

E）Noneoftheabove

D

52.Short-datedpiecesofalonger-termloan,usuallymaturinginafewdaysorweeks,arecalled:

A）Loanparticipations

B）Servicingrights

C）Loanstrips

D）Sharedcredits

C

53.Thepartyforwhomastandbycreditletterisissuedbyabankisknownasthe:

A）Accountparty

B）Beneficiary

C）Representative

D）CreditGuarantor

A

54.Whenabankissuesastandbycreditguaranteeonbehalfofoneofitscustomers,thepartyreceivingtheguaranteeisknownasthe:

C）Obligator

D）Servicingagent

B

55.Securitizationhaditsorigininthesellingofsecuritiesbackedby_____________

A）Creditcardreceivables

B）Residentialmortgageloans

C）Computerleases

D）Automobileloans

E）Truckleases

56.Loan-backedsecurities,which