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[Level 1] CFA Level 1 - 模考试题(1)(PM) Q106-110

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发表于 2015-7-21 09:05:10 | 显示全部楼层 |阅读模式
本帖最后由 catherine 于 2015-7-21 09:06 编辑 % D) J( I, L8 c( U# A, P% W
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Question 106
2 L' b8 N4 f! n1 XThe estimation of cash flows for certain types of bonds is difficult. The length of the cash flow stream is:. a/ s3 [% R8 D) ?$ h
A)    unpredictable for both variable rate and convertible bonds.
+ I* D. \, i& V+ |1 J  WB)   predictable for both convertible bonds and bonds with sinking fund provisions.! ^- m( v4 q. @) r: i5 r; e9 L+ K
C)   unpredictable for variable rate bonds and predictable for callable bonds.
4 [4 s: w2 b; i+ G+ T) DD)   predictable for variable rate bonds but unpredictable for bonds with sinking fund provisions.6 @9 ~/ @  f, Y
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Question 107( q% k& _# @9 a4 U0 W: d, A% [
Which of the following statements regarding callable bonds is most accurate? Callable bonds:# R7 z6 E' P; C6 U. f) I6 |; h
A)    are likely to be called when interest rates have increased.6 @1 R2 D* k3 W$ R  s
B)   that have a deferred call feature allow the bondholder to defer the call for up to 5 years.- m; j# I4 c$ f2 S" s9 t# q
C)   may not be called at par value--there must be at least a slight call premium to compensate the holder for losing the bond.
! Y! Q3 ]+ T) N  A$ I* w# mD)   typically require that the issuer pay a premium above par to call the issue, and the amount of this premium usually declines as the bond approaches maturity.  i2 E4 p# u1 x1 q
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Question 1088 X1 W* e! X# ^1 Q: M
Which of the following statements regarding debentures is most accurate? Debentures:
, V! l+ g1 T( I& T: a" }A)    are commonly issued by government sponsored entities such as Fannie Mae and Freddie Mac.( v+ x! e4 j" A, B( t
B)   may not be issued by government sponsored entities.
0 J3 Q2 h. ?/ m' C4 x0 B" mC)   are often called first mortgage bonds.
; B! U, F' D' S7 y; PD)   are free from default risk if issued by federally related or government sponsored entities.( \7 I( H) |* G' l, ^

" ], q& v7 P5 K+ P) hQuestion 109
' M2 P4 Z3 Z, I0 cThree corporate bonds are identical in all respects except that one is callable by the issuer, one is putable to the issuer, and one is option-free. Which of these three bonds is likely to have the greatest and least spread to Treasuries?" {- Z. Y- O2 S/ i
       Greatest spread     Least spread
( I/ ]  p. x5 XA)    Callable              Putable
3 w5 T6 t, w$ `  }: v. t- n0 j# SB)   Callable              Option-free
, B  L( Z% i. E0 W& b* u4 tC)   Option-free          Putable
' N/ D5 p) H# q2 k& FD)   Option-free          Callable
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Question 110+ I0 d% ^$ R( F: @+ ~- F3 w
In the United States, an income bond not currently paying interest and a bond of the highest quality would be assigned the following quality ratings (by Standard & Poors), respectively:6 `9 v: M2 f! }
A)    B, A5 E* z9 U) p) X" L5 E. g1 X
B)   CI, AAA# s+ N4 {# W/ r* i7 c" b
C)   D, AA$ q+ k, E0 W& I2 q) x
D)   F, AAA
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 楼主| 发表于 2015-7-21 09:06:20 | 显示全部楼层
缺答案和详解,如有欢迎补充,谢谢!$ L7 N' x' I9 h; c
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这套模考试题完结了!
CFA,你好!
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发表于 2015-7-24 10:17:05 | 显示全部楼层
楼主太好了,太感谢了!
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发表于 2015-7-25 05:41:15 | 显示全部楼层
谢谢分享!
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发表于 2015-7-28 00:37:29 | 显示全部楼层
谢谢您的分享!
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发表于 2015-8-19 17:09:36 | 显示全部楼层
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发表于 2016-1-2 01:31:17 | 显示全部楼层
106)a 107)a 108)c 109)d 110)a
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