货币金融学chapter4英文习题.docx

货币金融学chapter4英文习题.docx

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货币金融学chapter4英文习题

EconomicsofMoney,Banking,andFinancialMarkets,11e,GlobalEdition（Mishkin）

Chapter4TheMeaningofInterestRates

MeasuringInterestRates

1）Theconceptof________isbasedonthecommon-sensenotionthatadollarpaidtoyouinthefutureislessvaluabletoyouthanadollartoday.

A）presentvalue

B）futurevalue

C）interest

D）deflation

Answer:

A

AACSB:

ApplicationofKnowledge

2）Thepresentvalueofanexpectedfuturepayment________astheinterestrateincreases.

A）falls

B）rises

C）isconstant

D）isunaffected

Answer:

A

AACSB:

ReflectiveThinking

3）Anincreaseinthetimetothepromisedfuturepayment________thepresentvalueofthepayment.

A）decreases

B）increases

C）hasnoeffecton

D）isirrelevantto

Answer:

A

AACSB:

ReflectiveThinking

4）Withaninterestrateof6percent,thepresentvalueof$100nextyearisapproximately

A）$106.

B）$100.

C）$94.

D）$92.

Answer:

C

AACSB:

AnalyticalThinking

5）Whatisthepresentvalueof$tobepaidintwoyearsiftheinterestrateis5percent

A）$

B）$

C）$

D）$

Answer:

A

AACSB:

AnalyticalThinking

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

A）5percent.

B）10percent.

C）percent.

D）15percent.

Answer:

B

AACSB:

AnalyticalThinking

7）Toclaimthatalotterywinnerwhoistoreceive$1millionperyearfortwentyyearshaswon$20millionignorestheprocessof

A）facevalue.

B）parvalue.

C）deflation.

D）discountingthefuture.

Answer:

D

AACSB:

AnalyticalThinking

8）Acreditmarketinstrumentthatprovidestheborrowerwithanamountoffundsthatmustberepaidatthematuritydatealongwithaninterestpaymentisknownasa

A）simpleloan.

B）fixed-paymentloan.

C）couponbond.

D）discountbond.

Answer:

A

AACSB:

ApplicationofKnowledge

9）Acreditmarketinstrumentthatrequirestheborrowertomakethesamepaymenteveryperioduntilthematuritydateisknownasa

A）simpleloan.

B）fixed-paymentloan.

C）couponbond.

D）discountbond.

Answer:

B

AACSB:

ApplicationofKnowledge

10）WhichofthefollowingareTRUEoffixedpaymentloans

A）Theborrowerrepaysboththeprincipalandinterestatthematuritydate.

B）Installmentloansandmortgagesarefrequentlyofthefixedpaymenttype.

C）Theborrowerpaysinterestperiodicallyandtheprincipalatthematuritydate.

D）Commercialloanstobusinessesareoftenofthistype.

Answer:

B

AACSB:

ReflectiveThinking

11）Afullyamortizedloanisanothernamefor

A）asimpleloan.

B）afixed-paymentloan.

C）acommercialloan.

D）anunsecuredloan.

Answer:

B

AACSB:

ApplicationofKnowledge

12）Acreditmarketinstrumentthatpaystheownerafixedcouponpaymenteveryyearuntilthematuritydateandthenrepaysthefacevalueiscalleda

A）simpleloan.

B）fixed-paymentloan.

C）couponbond.

D）discountbond.

Answer:

C

AACSB:

ApplicationofKnowledge

13）A________paystheownerafixedcouponpaymenteveryyearuntilthematuritydate,whenthe________valueisrepaid.

A）couponbond;discount

B）discountbond;discount

C）couponbond;face

D）discountbond;face

Answer:

C

AACSB:

AnalyticalThinking

14）The________isthefinalamountthatwillbepaidtotheholderofacouponbond.

A）discountvalue

B）couponvalue

C）facevalue

D）presentvalue

Answer:

C

AACSB:

ApplicationofKnowledge

15）Whentalkingaboutacouponbond,facevalueand________meanthesamething.

A）parvalue

B）couponvalue

C）amortizedvalue

D）discountvalue

Answer:

A

AACSB:

ApplicationofKnowledge

16）Thedollaramountoftheyearlycouponpaymentexpressedasapercentageofthefacevalueofthebondiscalledthebond's

A）couponrate.

B）maturityrate.

C）facevaluerate.

D）paymentrate.

Answer:

A

AACSB:

ApplicationofKnowledge

17）The________iscalculatedbymultiplyingthecouponratetimestheparvalueofthebond.

A）presentvalue

B）facevalue

C）couponpayment

D）maturitypayment

Answer:

C

AACSB:

AnalyticalThinking

18）Ifa$1000facevaluecouponbondhasacouponrateofpercent,thenthecouponpaymenteveryyearis

A）$.

B）$.

C）$.

D）$

Answer:

A

AACSB:

AnalyticalThinking

19）Ifa$5,000couponbondhasacouponrateof13percent,thenthecouponpaymenteveryyearis

A）$650.

B）$1,300.

C）$130.

D）$13.

Answer:

A

AACSB:

AnalyticalThinking

20）An$8,000couponbondwitha$400couponpaymenteveryyearhasacouponrateof

A）5percent.

B）8percent.

C）10percent.

D）40percent.

Answer:

A

AACSB:

AnalyticalThinking

21）A$1000facevaluecouponbondwitha$60couponpaymenteveryyearhasacouponrateof

A）.6percent.

B）5percent.

C）6percent.

D）10percent.

Answer:

C

AACSB:

AnalyticalThinking

22）AllofthefollowingareexamplesofcouponbondsEXCEPT

A）corporatebonds.

B）.Treasurybills.

C）.Treasurynotes.

D）.