货币金融学chapter 4英文习题Word格式文档下载.docx

货币金融学chapter 4英文习题Word格式文档下载.docx

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A）decreases

B）increases

C）hasnoeffecton

D）isirrelevantto

4）Withaninterestrateof6percent,thepresentvalueof$100nextyearisapproximately

A）$106.

B）$100.

C）$94.

D）$92.

C

AnalyticalThinking

5）Whatisthepresentvalueof$500.00tobepaidintwoyearsiftheinterestrateis5percent?

A）$453.51

B）$500.00

C）$476.25

D）$550.00

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

A）5percent.

B）10percent.

C）12.5percent.

D）15percent.

B

7）Toclaimthatalotterywinnerwhoistoreceive$1millionperyearfortwentyyearshaswon$20millionignorestheprocessof

A）facevalue.

B）parvalue.

C）deflation.

D）discountingthefuture.

D

8）Acreditmarketinstrumentthatprovidestheborrowerwithanamountoffundsthatmustberepaidatthematuritydatealongwithaninterestpaymentisknownasa

A）simpleloan.

B）fixed-paymentloan.

C）couponbond.

D）discountbond.

9）Acreditmarketinstrumentthatrequirestheborrowertomakethesamepaymenteveryperioduntilthematuritydateisknownasa

10）WhichofthefollowingareTRUEoffixedpaymentloans?

A）Theborrowerrepaysboththeprincipalandinterestatthematuritydate.

B）Installmentloansandmortgagesarefrequentlyofthefixedpaymenttype.

C）Theborrowerpaysinterestperiodicallyandtheprincipalatthematuritydate.

D）Commercialloanstobusinessesareoftenofthistype.

11）Afullyamortizedloanisanothernamefor

A）asimpleloan.

B）afixed-paymentloan.

C）acommercialloan.

D）anunsecuredloan.

12）Acreditmarketinstrumentthatpaystheownerafixedcouponpaymenteveryyearuntilthematuritydateandthenrepaysthefacevalueiscalleda

13）A________paystheownerafixedcouponpaymenteveryyearuntilthematuritydate,whenthe________valueisrepaid.

A）couponbond;

discount

B）discountbond;

C）couponbond;

face

D）discountbond;

14）The________isthefinalamountthatwillbepaidtotheholderofacouponbond.

A）discountvalue

B）couponvalue

C）facevalue

D）presentvalue

15）Whentalkingaboutacouponbond,facevalueand________meanthesamething.

A）parvalue

C）amortizedvalue

D）discountvalue

16）Thedollaramountoftheyearlycouponpaymentexpressedasapercentageofthefacevalueofthebondiscalledthebond'

s

A）couponrate.

B）maturityrate.

C）facevaluerate.

D）paymentrate.

17）The________iscalculatedbymultiplyingthecouponratetimestheparvalueofthebond.

B）facevalue

C）couponpayment

D）maturitypayment

18）Ifa$1000facevaluecouponbondhasacouponrateof3.75percent,thenthecouponpaymenteveryyearis

A）$37.50.

B）$3.75.

C）$375.00.

D）$13.75

19）Ifa$5,000couponbondhasacouponrateof13percent,thenthecouponpaymenteveryyearis

A）$650.

B）$1,300.

C）$130.

D）$13.

20）An$8,000couponbondwitha$400couponpaymenteveryyearhasacouponrateof

B）8percent.

C）10percent.

D）40percent.

21）A$1000facevaluecouponbondwitha$60couponpaymenteveryyearhasacouponrateof

A）.6percent.

B）5percent.

C）6percent.

D）10percent.

22）AllofthefollowingareexamplesofcouponbondsEXCEPT

A）corporatebonds.

B）U.S.Treasurybills.

C）U.S.Treasurynotes.

D）U.S.Treasurybonds.

23）Abondthatisboughtatapricebelowitsfacevalueandthefacevalueisrepaidatamaturitydateiscalleda

24）A________isboughtatapricebelowitsfacevalue,andthe________valueisrepaidatthematuritydate.

25）Adiscountbond

A）paysthebondholderafixedamounteveryperiodandthefacevalueatmaturity.

B）paysthebondholderthefacevalueatmaturity.

C）paysallinterestandthefacevalueatmaturity.

D）paysthefacevalueatmaturityplusanycapitalgain.

26）Examplesofdiscountbondsinclude

A）U.S.Treasurybills.

B）corporatebonds.

D）municipalbonds.

27）WhichofthefollowingareTRUEfordiscountbonds?

A）Adiscountbondisboughtatpar.

B）Thepurchaserreceivesthefacevalueofthebondatthematuritydate.

C）U.S.Treasurybondsandnotesareexamplesofdiscountbonds.

D）Thepurchaserreceivestheparvalueatmaturityplusanycapitalgains.

28）Theinterestratethatequatesthepresentvalueofpaymentsreceivedfromadebtinstrumentwithitsvaluetodayisthe

A）simpleinterestrate.

B）currentyield.

C）yieldtomaturity.

D）realinterestrate.

29）Economistsconsiderthe________tobethemostaccuratemeasureofinterestrates.

30）Forsimpleloans,thesimpleinterestrateis________theyieldtomaturity.

A）greaterthan

B）lessthan

C）equalto

D）notcomparableto

31）Iftheamountpayableintwoyearsis$2420forasimpleloanat10percentinterest,theloanamountis

A）$1000.

B）$1210.

C）$2000.

D）$2200.

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

A）$10,030.

B）$10,300.

C）$13,000.

D）$13,310.

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

C）22percent.

D）25percent.

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

A）9percent

B）10percent

C）11percent

D）12percent

35）Thepresentvalueofafixed-paymentloaniscalculatedasthe________ofthepresentvalueofallcashflowpayments.

A）sum

B）difference

C）multiple

D）log

36）WhichofthefollowingareTRUEforacouponbond?

A）Whenthecouponbondispricedatitsfacevalue,theyieldtomaturityequalsthecouponrate.

B）Thepriceofacouponbondandtheyieldtomaturityarepositivelyrelated.

C）Theyieldtomaturityisgreaterthanthecouponratewhenthebondpriceisabovetheparvalue.

D）Theyieldislessthanthecouponratewhenthebondpriceisbelowtheparvalue.

37）The________ofacouponbondandtheyieldtomaturityareinverselyrelated.

A）price

B）parvalue

C）maturitydate

D）term

38）Thepriceofacouponbondandtheyieldtomaturityare________related;

thatis,astheyieldtomaturity________,thepriceofthebond________.

A）positively;

rises;

rises

B）negatively;

falls;

falls

C）positively;

D）negatively;

39）Theyieldtomaturityis________thanthe________ratewhenthebondpriceis________itsfacevalue.

A）greater;

coupon;

above

B）greater;

below

C）greater;

perpetuity;

D）less;

40）The________isbelowthecouponratewhenthebondpriceis________itsparvalue.

A）yieldtomaturity;

B）yieldtomaturity;

C）discountrate;

D）discountrate;

41）A$10,0008percentcouponbondthatsellsfor$10,000hasayieldtomaturityof

A）8percent.

C）12percent.

D）14percent.

42）Whichofthefollowing$1,000face-valuesecuritieshasthehighestyieldtomaturity?

A）a5percentcouponbondsellingfor$1,000

B）a10percentcouponbondsellingfor$1,000

C）a12percentcouponbond