金融市场与金融机构基础（原书第5版）Fabozzi5e Test Bank 银行测试题及答案_CH01--CH39.docx

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1、FabozziTestBankChapter1Introduction1. Anequityinstrumentob1igatestheissuerofthefinancia1assettopaytheho1deranamountbasedon:A. revenue,ifany,afterho1dersofdebtinstrumentshavebeenpaid.B. earnings,ifany,afterho1dersofdebtinstrumentshavebeenpaid.C. cashf1ow,ifany,afterho1dersofdebtinstrumentshavebeenpai

2、d.D. equityva1ue,ifany,afterho1dersofdebtinstrumentshavebeenpaid.Answer:BDifficu1ty:Medium2. Thepriceofanyfinancia1assetisequa1to:A. thepresentva1ueofitscurrentcashf1ow.B. thepresentva1ueofitsexpectedcashf1ow.C. thepresentva1ueofitscurrentrevenuestream.D. theexpectedfutureva1ueofitscurrentrevenuestr

3、eam.Answer:BDifficu1ty:Easy3. Whichofthefo11owingisNOTaro1eoffinancia1markets?A. pricediscoveryB. offer1iquidityC. reducetransactioncostsD. regu1atingfinancia1riskAnswer:DDifficu1ty:Medium4. Thethreec1assificationsoffinancia1marketsare:auctionmarkets,and,A. intermediatedmarkets;unregu1atedmarketsB.

4、regu1atedmarkets;over-the-countermarketsC. intermediatedmarkets;disintermediatedmarketsD. intermediatedmarkets;over-the-countermarketsAnswer:DDifficu1ty:Hard5. Whichofthefo11owingthreefactorshave1edtotheg1oba1integrationoffinancia1markets?A. techno1ogica1advances,thepassageoftheNorthAmericanFreeTrad

5、eAgreement,andstandardizationoffinancia1instrumentsB. standardizationoffinancia1instruments,techno1ogica1advances,and1ibera1izationofmarketsandtheactivitiesofmarketparticipantsC. techno1ogica1advances,increasedinstitutiona1izationoffinancia1markets,and1ibera1izationofmarketsandtheactivitiesofmarketp

6、articipantsD. standardizationoffinancia1instruments,increasedinstitutiona1izationoffinancia1markets,and1ibera1izationofmarketsandtheactivitiesofmarketparticipantsAnswer:CDifficu1ty:Medium6. Whichisaprimarydistinguishingfeatureoftheexterna1market?A. Bondsareregu1atedunderthejurisdictionofthemarkethos

7、t.B. Securitiesareregu1atedunderthejurisdictionofthemarkethost.C. Atissuance,bondsareg1oba11ystandardizedfora11externa1marketparticipants.D. Atissuance,securitiesareofferedsimu1taneous1ytoinvestorsinanumberofcountries.Answer:DDifficu1ty:Hard7. Thetraditiona1assetc1assesofmostdeve1opedcountriesarecom

8、monstocks,bonds,A. cashequiva1ents,andrea1estateB. currencyho1dings,andcommoditiesC. cashequiva1ents,andpreciousmeta1sD. cashequiva1ents,andforeignequitiesAnswer:ADifficu1ty:Medium8. Howismarketcapita1izationca1cu1ated?A. tota1profitdividedbythenumberofoutstandingsharesB. tota1profitmu1tip1iedbythen

9、umberOfoutstandingsharesC. tota1numberofoutstandingsharesdividedbythemarketva1ueof1shareD. tota1numberofoutstandingsharesmu1tip1iedbythemarketva1ueof1shareAnswer:DDifficu1ty:Easy9. Inthecontextoftransactioncosts,searchcostsare:A. costsre1atedtoraisingfundingforco11atera1fortransactinginthefinancia1m

10、arket.B. exp1icitcosts,suchasthecostof1ega1discoveryandtheuseofcomp1icatedsearchenginesforthepricingoffinancia1instruments.C. costsassociatedwithassessingtheinvestmentmeritsofafinancia1asset,thatis,theamountand1ike1ihoodofthecashf1owexpectedtobegenerated.D. exp1icitcosts,suchasthemoneyspenttoadverti

11、seone,sintentiontose11orpurchaseafinancia1asset,andimp1icitcosts,suchastheva1ueoftimespent1ocatingacounterparty.Answer:DDifficu1ty:Easy10. Agrantstheowneroftheoptiontherighttobuyafinancia1assetfromtheotherparty,whi1eagrantstheowneroftheoptiontherighttose11afinancia1assettotheotherparty.A. putoption;

12、ca11optionB. ca11option;putoptionC. forwardoption;futureoptionD. futureoption;forwardoptionAnswer:BDifficu1ty:MediumFabozziTestBankCh叩ter2Ro1eofGovernmentsinFinancia1Markets1. Whichofthefo11owingdidpo1icymakersidentifyascausesofthe2008-2009g1oba1nancia1crisis?A. abubb1einthejunkbondmarket,excessiveu

13、seof1everageandrisktaking,andinvestorpanicB. abubb1einthepricingofassetsinakeysectorofthefinancia1market,regu1atoryandsupervisoryfai1ures,andinvestorpanicC. abubb1einthejunkbondmarket,excessiveuseof1everageandrisktaking,andabubb1einthepricingofassetsinakeysectorofthefinancia1marketD. excessiveuseof1

14、everageandrisktaking,abubb1einthepricingofassetsinakeysectorofthefinancia1market,andregu1atoryandsupervisoryfai1uresAnswer:DDifficu1ty:Medium2. Whatisthestandardjustificationforgovernmentregu1ationofthemarket?A. Themarketwi111eadtorunawaywea1thinequa1ity1efttoitse1f.B. Themarketwi111eadtorunawayinco

15、meinequa1ity1efttoitse1f.C. Themarketwi11causeirreparab1eharmtothenation,seconomy1efttoitse1f.D. Themarketwi11notproduceparticu1argoodsorservicesinanefficientmanner,correctquantity,andatthe1owestpossib1ecost.AnSWe亡DDifficu1ty:Medium3. Whichofthefo11owingareformsofgovernmentregu1ationoffinancia1marke

16、ts?A. enc1osureregu1ation,financia1activityregu1ation,andregu1ationofforeignparticipantsB. enc1osureregu1ation,financia1activityregu1ation,andregu1ationoffinancia1institutionsC. enc1osureregu1ation,regu1ationoffinancia1institutions,andregu1ationofforeignparticipantsD.financia1activityregu1ation,regu1ationof