金融学期中考试.docx

金融学期中考试.docx

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金融学期中考试

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湖南大学课程考试试卷

课程名称：

金融学；课程编码：

试卷编号：

A；考试时间：

120分钟

题号

一

二

三

四

五

六

七

八

九

十

总分

应得分

100

实得分

评卷人

IChoices:

答题页

I.Choices:

1.Thedefinitionofmoneydoesnotreferto

A）coinsandcurrency.B）themonetaryeconomy.

C）unemployment.D）atoolusedbythecentralbanktoinfluenceaggregateeconomicactivity.

2.Aninsurancecompanyeconomistwould

A）forecastinterestrates.

B）talkonlytotheirdirectsuperiors,butnottotheinstitution’scorporatecustomers.

C）notbeconcernedaboutthecostsandbenefitsofsomeinternalinvestmentproject.

D）havelittleuseforstatisticalanalysis.

3.Whichofthefollowingisleastlikelytopurchasealargecertificateofdeposit（over$100,000）?

A）MoneymarketmutualfundsB）Individualinvestors

C）LargecorporationsD）Institutionalinvestors

4.RetailCDsaremostlikelymarketedby

A）peoplewhoarecomfortablewithinterestratecalculations.

B）peoplewhoarecomfortablewithmovementsinthetermstructureofinterestrates.

C）peoplewithstronginterpersonalskills.

D）peoplewhointerpretmonetarypolicyactionstakenbytheFederalReserve.

5.Whichofthefollowingtypesofinstitutionsismostlikelytobeamarketmakerinmortgage-backedsecurities?

A）AcommercialbankB）Aninvestmentbank

C）AsavingsandloanassociationD）Acreditunion

6.Adealerearnsaprofitby

A）chargingacommission.

B）buyingattheaskedpriceandsellingatthebidprice.

C）buyingatthebidpriceandsellingattheaskedprice.

D）Noneoftheabove

7.Themostprominentroleformoneyistoserveasa

A）formofcredit.B）sourceofincome.

C）meansofpayment.D）standardofvalue.

8.Youjustboughtanewcar.Inthistransaction,youusedmoneyasa

A）formofcredit.B）sourceofincome.

C）meansofpayment.D）standardofvalue.

9.TheM1definitionofmoneyincludes

A）currencyoutsidebankspluscheckabledepositsandEurodollars.

B）currencyoutsidebankspluscheckabledepositsplusretailmoneymarketdepositaccounts.

C）currencyoutsidebankspluscheckabledepositsplustraveler’schecks.

D）currencyoutsidebankspluscheckabledepositsplussmall-denominationtimedeposits.

10.Moneyfunctionsasastandardofvaluewhenpeople

A）compareprices.B）buyfinancialassets.

C）purchasegoodsandservices.D）save.

11.Ahighlyliquidassetisonethat

A）losesitsvalue.

B）appreciatesovertime.

C）canbequicklyturnedintothemediumofexchangewithoutloss.

D）cannotbeusedinfinancialtransactions.

12.Anassetthatcanbequicklyturnedintothemediumofexchangewithouttakingalossissaidtobevery

A）accountable.B）liquid.

C）divisible.D）profitable.

13.Whichofthefollowinglistsofassetsisinthecorrectorderfrommostliquidtoleastliquid?

A）Acar,asmalldenominationtimedeposit,adollarbill

B）Governmentbonds,checkingaccounts,parcelofland

C）Governmentbonds,apartmentbuilding,moneymarketdepositaccount

D）Adollarbill,governmentbonds,ahouse

14.Whichofthefollowingistheleastliquid?

A）AcheckingaccountB）Agovernmentbond

C）Atraveler’scheckD）Amoneymarketdepositaccount

15.Thecentralbankinmostcountriesisresponsiblefor

A）monetarypolicy.B）fiscalpolicy.

C）fiscalandmonetarypolicy.

D）printingandcurrencyonly;mostcentralbankshavenopolicyrole.

16.IntheUnitedStates,themoneysupplyisdeterminedbythe

A）FederalReserve.B）U.S.Congress.

C）U.S.Treasury.D）FederalDepositInsuranceCorporation.

17.Arisingpricelevelcauses

A）reducedbarteractivity.

B）consumerstoshiftfromcheckingaccountstocurrency.

C）adecreaseinthemoneysupply.

D）adecreaseinthevalueofmoney.

18.Moneyincreaseseconomicgrowthbyfacilitatingtransfersfrom

A）saverstoborrowers.B）thegovernmenttoinvestors.

C）investorstosavers.D）investorstoborrowers.

19.Anefficientfinancialsystem

A）mustdisseminateinformationtolendersaboutthequalityoffinancialclaimsissued.

B）providesminimalinformationaboutfinancialmarkets.

C）providesperfectinformationregardinginvestmentopportunitiestosavers.

D）doesnotprovideanyinformationtoborrowers.

20.Whenborrower-spendersraisefundsinfinancialmarkets,theyissuenewsecuritiesinthe

A）primarymarket.B）secondarymarket.

C）thirdmarket.D）fourthmarket.

21.Whichofthefollowingisaprimarymarkettransaction?

A）SallyWitherpurchases100sharesofIBMthroughherbroker.

B）KoldCo.issues1millionnewsharesthroughMorganStanley.

C）BobHillsells1,000sharesofDisneydirectlytohisfriend.

D）KipPeterssells1,000sharesofDush,Inc.,whichheboughtinanIPOlastmonth,throughhisbroker.

22.Asecondarymarketisoneinwhich

A）newsecuritiesareissued.B）financialintermediariesmakeloans.

C）saversplacefundsinfinancialintermediaries.

D）existingsecuritiescanbeboughtandsold.

23.Themostprominentfinancialmarketis

A）theNewYorkStockExchange.B）theAmericanStockExchange.

C）theNasdaq.D）theover-the-countermarket.

24.Investmentbanksspecializeininformationregarding

A）commodities.B）certificatesofdeposit.

C）demanddeposits.D）primarysecurities.

25.Thetotalamountofinterestcollectedaftertwoyearsfroma$6,000loanwithanannualinterestrateof6percentcompoundedannuallyisequalto

A）$720.00.B）$741.60.

C）$360.00.D）$6,720.00.

26.A$1,000,7percentdepositpaysinterestcompoundedmonthly.Aftersixmonths,thedepositbalanceis$__________________.

A）1,036B）1,501

C）1,350D）1,420

27.BuddyBollyjustreceivedhisannualbankstatement.Oneyearago,Buddydeposited$10,000inasavingsaccount.Today,hisbalanceis$10,509.45.Buddy’ssavingsaccountinterestiscompoundedquarterly.Buddyreceivedanannualizedinterestrateof__________________percent.

A）6B）5C）4D）3

28.PaulOldyjustpurchaseda$2,000facevaluebondwith.Thebondpays$45ininterestsemiannually.Paulcouldsellthebondtodayfor$2,050.Thecurrentyieldonthisbondis______percent.

A）2.25B）2.20C）4.50D）4.39

29.Anindividualpays$4,000fora$5,000facevalue,coupon-bearingbondthatpays$400peryearandwillbehelduntilitmaturesintenyears.Thecurrentyieldonthisbondis

A）10percent.B）8percent.

C）6percent.D）5percent.

30.The__________________istheinterestratethatmakesthesumofpresentvaluesforallfuturepaymentsequaltoasecurity’spurchaseprice.

A）yieldtomaturityB）currentyield

C）couponrateD）capitalgain

31.Theyieldtomaturityonabondisthe

A）couponrate.

B）annualinterestpaymentdividedbythepurchaseprice.

C）couponpaymentmultipliedbythenumberofpayments.

D）rateofdiscountthatmakesthesumofpresentvaluesforallfuturepaymentsequaltothepurchaseprice. 

32.Theyieldtomaturityofazero-couponbondisdeterminedbythebond'sfacevalueandits

A）purchaseprice.B）currentyield.

C）couponrate.D）realrate.

33.Ariseininterestrateswillcauseshort-termbondpricesto

A）falllessthanlong-termbondprices.B）fallmorethanlong-termbondprices.

C）risemorethanlong-termbondprices.D）riselessthanlong-termbondprices.

34.Afallininterestrateswillcauselong-termbondpricesto

A）falllessthanshort-termbondprices.B）fallmorethanshort-termbondprices.

C）riselessthanshort-termbondprices.D）risemorethanshort-termbondprices.

35.Long-termbondsare__________________thanshort-termbonds,andlong-termbondsoftenhavea__________________yieldthanshort-termbonds.

A）lessrisky;lowerB）morerisky;lower

C）lessrisky;higherD）morerisky;higher

36.Iftheyieldonlong-termsecuritiesisgreaterthantheyieldoncomparableshort-termsecurities,theyieldcurvewillbe

A）negativelysloped.B）positivelysloped.

C）inthenegativequadrant.D）undefined.

37.Iftheyieldonshort-termsecuritiesisgreaterthantheyieldoncomparablelong-termsecurities,theyieldcurvewillhavea

A）positiveslope.B）negativeslope.

C）constantslope.D）zeroslope.

38.Comparedwithlong-termsecurities,thepricesofshort-termsecuritiesarealways

A）morevolatile.B）lessvolatile.

C）higher.D）lower.

39.Investorsusually__________________,becauselong-termsecuritieshaveagreaterriskofcapitallossthandoshort-termsecurities.

A）requireahigheryieldonlong-termsecurities

B）requirealoweryieldonlong-termsecurities

C）payahigherpriceforlong-termsecurities

D）avoidlong-termsecurities

40.Commercialbanksarelikelyto

A）requirealiquiditypremiumtoholdlong-termsecurities.

B）purchaseequallyineachmaturitysegmentofthemarket.

C）viewsimilarsecuritiesofdifferentmaturitiesasclosesubstitutes.

D）haveapreferenceforlong-termsecurities.

41.Thefactthatyieldsonshort-termsecuritiesfluctuatemoreoverthecourseofthebusinesscyclesupportswhichtheoryofthetermstructure?

A）PureexpectationsB）Preferredhabitat

C）SupplyanddemandD）Liquiditypremium

42.Thethreemaintypesofsecuritiesmarketorganizationare

A）primary,secondary,andtertiarymarkets.

B）stock,money,andbondmarkets.

C）public,private,andgovernmentmarkets.

D）auction,dealer,andbrokeredmarkets.

43.Thetypeofmarketinwhichthereisdirectinteractionbetweenbuyersandsellersisa（n）

A）brokeredmarket.B）auctionmarket.

C）dealermarket.D）primarymarket.

44.OntheNewYorkStockExchange,thespecialistata“post”actsasa（n）

A）broker.B）auctioneer.

C）dealer.D）underwriter.

45.Thebestknownfinancialauctionmarketisthe

A）NewYorkStockExchang