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6. The yield of a 3-year bond issue quoted on an annual-pay basis is 7.84%. The yield-to-maturity on a bond-equivalent basis is closest to：8 I9 v$ |/ w' ~5 O( J
A. 3.85% ! \$ k* X% s$ `' o1 F3 U1 V
B. 7.69% : C5 S6 n! b- `' ]
C. 7.84%
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答案和详解，登录后回复可见：
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7. The U.S. Treasury spot rates are provided in the following table：: r) N8 A% ?1 d: J; L
| Period | Years | Spot Rate | | 1 | 0.5 | 2.20% | | 2 | 1.0 | 2.50% | | 3 | 1.5 | 2.70% | | 4 | 2.0 | 3.20% |
Given a consistent corporate spread of 0.50%, what will be the most likely price of a 4% coupon corporate bond with 2 years to maturity? & V( Q; b* e# D2 S; u' Z: g# H6 m
A. $100.61
2 L; w( ^, Q+ p p! n% v! ]- Q0 H8 FB. $102.96
5 h3 J5 b( m3 J) U3 k/ pC. $98.92 6 |# K$ K( X z }" }- a- o0 r
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# K' m! V0 V. U' M8. Tina Mo, a fixed income analyst, is asked to value a single, default-free cash flow of $60,000. She is given the information in the following table：' ]: p0 e7 d! X/ q% y
| Period | Years | Annual Par Yield to Maturity BEY | Theoretical Spot Rate BEY | 6-month Forward Rates BEY | | 1 | 0.5 | 2.00% | 2.00% | 2.00% | | 2 | 1.0 | 2.40% | 2.40% | 2.71% | | 3 | 1.5 | 2.70% | 2.71% | 3.12% | | 4 | 2.0 | 3.20% | 3.23% | 4.55% |
6 e) j7 E8 f' u3 U3 kThe value of this single cash flow at the end of Period 4 is closest to: 2 c# f1 Z- ?5 C* Y6 Y/ O% }
A. $56,427 ( T* f8 n. p+ B4 K2 }/ `: q" @2 X4 Q+ L# S
B. $56,309
4 ?- I; D$ Q8 h* c" M6 _C. $56,276 6 G6 p; m/ R/ e8 ?. f6 T6 f3 l
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9. The zero-volatility spread is a measure of the spread off:：8 c: k. d% u9 N3 e7 q. O9 z
A. one point on the Treasury yield curve. ) j! I+ h0 D9 j3 Q1 o. }
B. all points on the Treasury yield curve.
( i7 y. K8 n% aC. all points on the Treasury spot curve.
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C" _) {8 ~3 D% \% Z
10. The U.S. Treasury spot rates are provided in the following table：' j* d) i/ V( W& R/ y
| Period | Years | Spot Rate | | 1 | 1 | 4.000% | | 2 | 2 | 8.167% | | 3 | 3 | 12.3.77% |
Consider a 3-year, 9% annual coupon corporate bond currently trading at $89.464. Given the YTM of a 3-year Treasury is 12%, the Z- spread of the corporate bond is closest to:
5 ?. g5 H6 @+ L Y' u5 R O6 NA. 1.50%. 6 I6 w* B) [- g' ]
B. 1.67%. * K1 Q# w; F, b; @4 D
C. 1.76%.$ O! b3 j- x+ i$ a a g: B& W7 Q( {
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