|
|
本帖最后由 一起学CFA 于 2016-1-15 09:51 编辑
1 d# ?5 m7 ^: k7 O9 }0 _2 F Y* g; W0 l) e
CFA Level I：Fixed Income - Risks associated with investing in bonds 习题精选6 B; H% x! E8 K/ ]- B6 X# l
9 l7 v$ }' X$ I. [, {/ ]36. Compared with an otherwise identical amortizing security, a zero-coupon bond will most likely have：
6 w* {1 n- n8 J. rA. less reinvestment risk and the same interest rate risk. # b. D$ u6 V* Z: q7 j
B. less reinvestment risk and more interest rate risk. * j: k0 f4 w1 |6 T" G
C. the same reinvestment risk and the same interest rate risk.( j& u" K4 y/ y/ e: |
7 h+ M5 K& ~- k. J T' a+ x5 H答案和详解，登录后回复可见：
, O. ?9 [' a c1 L
8 t. L8 E7 `4 Q, H' p
( j' r$ M! ^5 m. @/ T' \0 s+ F8 ~1 O; h- s
37. Two amortizing bonds have the same maturity date and same yield to maturity. The reinvestment risk for an investor holding the bonds to maturity is greatest for the bond that is：' z# ^. t) z {& T
A. a coupon bond selling at a discount to par as a result of market yields increasing after the bond was issued. & [; S# Z1 N% Z6 y) ?$ X
B. a zero-coupon bond. 6 M* \7 n6 M ^4 S- U0 A: Y
C. a coupon bond selling at a premium to par.' K( d7 Y( D( t- Q8 ?- x8 _) e+ v
0 F) [. Z0 C3 [9 g6 S& c
3 b$ i" k/ M! D! N4 z5 D! j
5 u9 `* g3 a- b% T5 q, G: L
38. An investor fears that economic conditions will worsen and the market prices of her portfolio of investment-grade corporate bonds will decrease more than her portfolio of government bonds. The investor’s fear is best described as a fear of：
8 ~/ c. ^* i6 U! u7 j6 J: e% GA. downgrade risk. 4 x2 K# b4 \, i
B. default risk.
3 e+ K" S1 d# ^8 T$ P7 ~" wC. credit spread risk.3 k* d2 ^% u, h
& {- o, R0 }! l( x% {; z% z
: R8 ?. F6 ^& e; c' E: p
8 ~* U5 i5 g* V& {" s) ~. r
* r2 b5 `; w% J+ L( |39. For an A- rated corporate bond that has deteriorating fundamentals, but is expected to remain investment grade, the greatest risk is most likely：
' X7 f- c& t' X8 JA. liquidity risk. : m9 O/ D! D R
B. default risk. + M3 Y3 m Y; I/ ?4 [* z/ R
C. credit spread risk.
. O1 ]# |7 g9 X0 p0 _: e
S: |/ \8 G6 b9 k) Z2 v3 U d- w! h- D. L7 Y% U2 i% e
+ }1 H5 g4 N' n$ r7 v4 f; b$ Z. n
2 L" o, q8 L, |$ F
40. What risk does the bid-ask spread most closely measure：! P, z. H; F4 Y* ~- e$ W# t5 O& r6 M
A. Liquidity risk. 6 V& i' R& G! w; b, O, Y6 r
B. Credit spread risk. W- z/ ^9 n: |
C. Inflation risk.. T$ O4 s* A9 C4 E# Q. t+ ~
- {# a8 e# y- S0 Q# S7 E; g
, J w3 k2 G8 F4 z. R: G) G/ W9 L1 R3 D
更多CFA习题可关注：高顿CFA题库.1 K7 I/ x1 V0 T* n( V T
关注微信 CFAFighting （ID:cfa-frm）CFA考试资讯抢先得, Z! T- U0 i, T5 S) f9 F; e
H- F' H( A6 b
7 Q1 N; |+ N0 G4 ^% a1 t' u/ w# c* [; @% J2 V6 ^- }' U" J3 `) E
|
|
发表于 2016-1-15 09:50:32
发表于 2017-9-3 13:22:42
谢谢楼主共同进步
