1、A) decreasesB) increasesC) has no effect onD) is irrelevant to4) With an interest rate of 6 percent, the present value of $100 next year is approximatelyA) $106.B) $100.C) $94.D) $92. C Analytical Thinking5) What is the present value of $500.00 to be paid in two years if the interest rate is 5 perce
2、nt?A) $453.51 B) $500.00C) $476.25D) $550.006) If a security pays $55 in one year and $133 in three years, its present value is $150 if the interest rate isA) 5 percent.B) 10 percent.C) 12.5 percent.D) 15 percent. B7) To claim that a lottery winner who is to receive $1 million per year for twenty ye
3、ars has won $20 million ignores the process ofA) face value.B) par value.C) deflation.D) discounting the future. D8) A credit market instrument that provides the borrower with an amount of funds that must be repaid at the maturity date along with an interest payment is known as aA) simple loan.B) fi
4、xed-payment loan.C) coupon bond.D) discount bond.9) A credit market instrument that requires the borrower to make the same payment every period until the maturity date is known as a10) Which of the following are TRUE of fixed payment loans?A) The borrower repays both the principal and interest at th
5、e maturity date.B) Installment loans and mortgages are frequently of the fixed payment type.C) The borrower pays interest periodically and the principal at the maturity date.D) Commercial loans to businesses are often of this type.11) A fully amortized loan is another name forA) a simple loan.B) a f
6、ixed-payment loan.C) a commercial loan.D) an unsecured loan.12) A credit market instrument that pays the owner a fixed coupon payment every year until the maturity date and then repays the face value is called a13) A _ pays the owner a fixed coupon payment every year until the maturity date, when th
7、e _ value is repaid.A) coupon bond; discountB) discount bond;C) coupon bond; faceD) discount bond;14) The _ is the final amount that will be paid to the holder of a coupon bond.A) discount valueB) coupon valueC) face valueD) present value15) When talking about a coupon bond, face value and _ mean th
8、e same thing.A) par valueC) amortized valueD) discount value16) The dollar amount of the yearly coupon payment expressed as a percentage of the face value of the bond is called the bonds A) coupon rate.B) maturity rate.C) face value rate.D) payment rate.17) The _ is calculated by multiplying the cou
9、pon rate times the par value of the bond.B) face valueC) coupon paymentD) maturity payment18) If a $1000 face value coupon bond has a coupon rate of 3.75 percent, then the coupon payment every year isA) $37.50.B) $3.75.C) $375.00.D) $13.7519) If a $5,000 coupon bond has a coupon rate of 13 percent,
10、then the coupon payment every year isA) $650.B) $1,300.C) $130.D) $13.20) An $8,000 coupon bond with a $400 coupon payment every year has a coupon rate ofB) 8 percent.C) 10 percent.D) 40 percent.21) A $1000 face value coupon bond with a $60 coupon payment every year has a coupon rate of A) .6 percen
11、t.B) 5 percent.C) 6 percent.D) 10 percent.22) All of the following are examples of coupon bonds EXCEPTA) corporate bonds.B) U.S. Treasury bills.C) U.S. Treasury notes.D) U.S. Treasury bonds.23) A bond that is bought at a price below its face value and the face value is repaid at a maturity date is c
12、alled a24) A _ is bought at a price below its face value, and the _ value is repaid at the maturity date.25) A discount bondA) pays the bondholder a fixed amount every period and the face value at maturity.B) pays the bondholder the face value at maturity.C) pays all interest and the face value at m
13、aturity.D) pays the face value at maturity plus any capital gain.26) Examples of discount bonds includeA) U.S. Treasury bills.B) corporate bonds.D) municipal bonds.27) Which of the following are TRUE for discount bonds?A) A discount bond is bought at par.B) The purchaser receives the face value of t
14、he bond at the maturity date.C) U.S. Treasury bonds and notes are examples of discount bonds.D) The purchaser receives the par value at maturity plus any capital gains.28) The interest rate that equates the present value of payments received from a debt instrument with its value today is theA) simpl
15、e interest rate.B) current yield.C) yield to maturity.D) real interest rate.29) Economists consider the _ to be the most accurate measure of interest rates.30) For simple loans, the simple interest rate is _ the yield to maturity.A) greater thanB) less thanC) equal toD) not comparable to31) If the a
16、mount payable in two years is $2420 for a simple loan at 10 percent interest, the loan amount isA) $1000.B) $1210.C) $2000.D) $2200.32) For a 3-year simple loan of $10,000 at 10 percent, the amount to be repaid isA) $10,030.B) $10,300.C) $13,000.D) $13,310.33) If $22,050 is the amount payable in two
17、 years for a $20,000 simple loan made today, the interest rate isC) 22 percent.D) 25 percent.34) If a security pays $110 next year and $121 the year after that, what is its yield to maturity if it sells for $200?A) 9 percentB) 10 percentC) 11 percentD) 12 percent35) The present value of a fixed-paym
18、ent loan is calculated as the _ of the present value of all cash flow payments.A) sumB) differenceC) multipleD) log36) Which of the following are TRUE for a coupon bond?A) When the coupon bond is priced at its face value, the yield to maturity equals the coupon rate.B) The price of a coupon bond and
19、 the yield to maturity are positively related.C) The yield to maturity is greater than the coupon rate when the bond price is above the par value.D) The yield is less than the coupon rate when the bond price is below the par value.37) The _ of a coupon bond and the yield to maturity are inversely re
20、lated.A) priceB) par valueC) maturity dateD) term38) The price of a coupon bond and the yield to maturity are _ related; that is, as the yield to maturity _, the price of the bond _.A) positively; rises; risesB) negatively; falls; fallsC) positively;D) negatively;39) The yield to maturity is _ than
21、the _ rate when the bond price is _ its face value.A) greater; coupon; aboveB) greater; belowC) greater; perpetuity;D) less;40) The _ is below the coupon rate when the bond price is _ its par value.A) yield to maturity;B) yield to maturity;C) discount rate;D) discount rate;41) A $10,000 8 percent co
22、upon bond that sells for $10,000 has a yield to maturity ofA) 8 percent.C) 12 percent.D) 14 percent.42) Which of the following $1,000 face-value securities has the highest yield to maturity?A) a 5 percent coupon bond selling for $1,000B) a 10 percent coupon bond selling for $1,000C) a 12 percent coupon bond
copyright@ 2008-2022 冰豆网网站版权所有
经营许可证编号:鄂ICP备2022015515号-1