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[Level 1] CFA Level I:Fixed Income 习题精选题(21 - 25)

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发表于 2016-1-12 10:14:12 | 显示全部楼层 |阅读模式
本帖最后由 一起学CFA 于 2016-1-13 09:29 编辑
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0 h9 D+ ^3 f2 r# ~, w. h4 iCFA Level I:Fixed Income - Features of debts securities 习题精选
( |; I) S- b9 U( m, I. J21. A 5-year floating-rate security was issued on January 1, 2006. The coupon rate formula was 1-year LIBOR + 300 bps with a cap of 10% and a floor of 5% and annual reset. The 1-year LIBOR rate on January 1st of each year of the security’s life is provided in the following table:
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Year
1-Year LIBOR
2008
3.5%
2009
4.0%
2010
3.0%
2011
2.0%
2012
1.5%

/ D5 U+ k+ F. Y# ^During 2012, the payments owed by the issuer were based on a coupon rate  ~3 }3 v) n3 s4 A% d: D( r! X" Q
closest to:
. d; [& m7 |/ p0 zA. 6.5%
; R) D: C. v8 w" gB. 5.0%
6 F& }5 c' ]5 O' k8 P6 d! b% FC. 4.5% 3 R  ?) p1 A2 R

/ i1 y7 L  j) u! _, l3 J答案和详解,登录后回复可见:
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5 d! V4 ]' B; R$ [' S3 s$ M22. Which of the following provides the most flexibility for the bond issuer?9 q: R* J3 D  i8 n- @2 L5 ~& r9 g" M
A. Put provision
9 H' J6 o# p1 o! t. \; eB. Call provision
0 R" K8 h8 V' E6 i% [0 M5 _C. Sinking fund provision
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23. Which of the following provides the most protection to a bondholder?  c! h2 V4 a. [
A. Call protection.
: u2 y  v- z& mB. Refunding protection.
' x5 w" `9 ?! R4 \' P2 sC. Sinking fund protection. & x3 d' o8 H* n0 t. ~) l1 J( ~

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24. Which statement regarding sinking funds is least likely correct?5 F4 k+ n% \5 }$ Q
A. Sinking fund provisions require the retirement of a portion of a bond issue in specified amounts prior to the maturity date. % Z# s* U% A# P- F% p
B. Sinking fund redemptions can be accomplished by making cash payment to the trustee who will then retire the required proportion of the bonds. 2 h. [  L; d+ o( o
C. If rates have declined since the bond was issued, companies are likely to choose to retire a proportion of the debt through the delivery of securities. 2 `( Z1 Z' s4 G! c& e1 c

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25. If an institutional investor wants to borrow money for 30 days to finance a bond purchase, which of these is most likely to be the lowest loan rate available?
  d" G0 W! j) ^  ~5 HA. Term repo rate
, N5 A! j6 f  k' u. WB. Call money rate 4 n( r; j- K* Y4 r6 C+ |- h7 H
C. Broker loan rate
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 楼主| 发表于 2016-1-12 10:16:17 | 显示全部楼层
想目睹高大上的金融圈是怎么个逼格吗?http://zhibo.gaodun.com/index/play/id/2457
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发表于 2019-2-1 13:19:06 | 显示全部楼层
谢谢谢谢谢
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看看,感谢楼主
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