《金融市场学》习题之欧阳道创编.docx

1、金融市场学习题之欧阳道创编金融市场学复习题时间：2021.03.06创作：欧阳道1.Common stock is an example of a(n) _.A) debt security. B) money market security.C) equity security. D) a and b2. The required return to implement a given business project will be _ if interest rates are lower. This implies that businesses will demand a _ qua

2、ntity of loanable funds when interest rates are lower. A) greater; lowerB) lower; greaterC) lower; lower D) greater; greater3. The federal government demand for loanable funds is _. If the budget deficit was expected to increase, the federal government demand for loanable funds would _. A) interest

3、elastic; decreaseB) interest elastic; increase C) interest inelastic; increaseD) interest inelastic; decrease4. If the real interest rate was negative for a period of time, thenA) inflation is expected to exceed the nominal interest rate in the future.B) inflation is expected to be less than the nom

4、inal interest rate in the future. C) actual inflation was less than the nominal interest rate. D) actual inflation was greater than the nominal interest rate.5. If inflation turns out to be lower than expectedA) savers benefit.B) borrowers benefit while savers are not affected. C) savers and borrowe

5、rs are equally affected. D) savers are adversely affected but borrowers benefit.6. Assume that foreign investors who have invested in U.S. securities decide to increase their holdings of U.S. securities. This should cause the supply of loanable funds in the United States to _ and should place _ pres

6、sure on U.S. interest rates.A) decrease; upward B) decrease; downward C) increase; downward D) increase; upward7. If economic expansion is expected to decrease, the demand for loanable funds should _ and interest rates should _.A) increase; increaseB) increase; decreaseC) decrease; decreaseD) decrea

7、se; increase8. When Japanese interest rates rise, and if exchange rate expectations remain unchanged, the most likely effect is that the supply of loanable funds provided by Japanese investors to the United States will _, and the U.S. interest rates will _.A) increase; increaseB) increase; decreaseC

8、) decrease; decreaseD) decrease; increase9. Assume that annualized yields of shortterm and longterm securities are equal. If investors suddenly believe interest rates will increase, their actions may cause the yield curve toA) become inverted.B) become flat. C) become upward sloping. D) be unaffecte

9、d.10. If the liquidity premium exists, a flat yield curve would be interpreted as the market expecting _ in interest rates.A) no changesB)a slight decreaseC) a slight increase D) a large increase11. According to the segmented markets theory, if most investors suddenly preferred to invest in shortter

10、m securities and most borrowers suddenly preferred to issue longterm securities there would beA) upward pressure on the price of longterm securities.B) upward pressure on the price of shortterm securities.C) downward pressure on the yield of longterm securities.D) a and c12. Other things equal, the

11、yield required on noncallable bonds should be _ the yield required on callable bonds whose other characteristics are exactly the same.A) greater thanB) equal to C) less thanD) All of the above are possible, depending on the size of the call premium.13. According to expectations theory, the sudden ex

12、pectation of lower interest rates in the future will cause a _ supply of shortterm funds provided by investors, and a _ supply of longterm funds.A) large; largeB) large; smallC)small; small D) small; large14. Assume that the Treasury experiences a large decrease in the budget deficit and purchases a

13、 large number of T-bills. This action will _ the supply of T-bills in the market and places _ pressure on the yield of T-bills.A) decrease; downwardB) decrease; upward C) increase; upward D) increase; downward15.A firm plans to issue 30day commercial paper for $9,900,000. Par value is $10,000,000. W

14、hat is the firms cost of borrowing?A) 12.12%B) 11.11%C) 13.00%D) 14.08%E) 15.25%16. A repurchase agreement calls for an investor to buy securities for $4,925,000 and sell them back in 60 days for $5,000,000. What is the yield?A) 9.43%B) 9.28%C) 9.14%D) 9.00%17. Robbins Corp. frequently invests exces

15、s funds in the Mexican money market. One year ago, Robbins invested in a one-year Mexican money market security that provided a yield of 25%. At the end of the year, when Robbins converted the Mexican pesos to dollars, the peso had depreciated from $.12 to $.11. What is the effective yield earned by Robbins?A)25.00%B)35.41%C)14.59%D) none of the above 18. Bullock Corp. purchases certain securities for $4,921,349, with an agreement to sell them back at a price of $4,950,000 at the end of a 30-day period. The repo rate is _ %.A) 7.08 B) 6.95 C)