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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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CFA Level I:Fixed Income - Features of debts securities 习题精选! y, D, {# B* P
21. 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:" V# I: O. K6 E  a$ l  ?$ Z( [
Year
1-Year LIBOR
2008
3.5%
2009
4.0%
2010
3.0%
2011
2.0%
2012
1.5%
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During 2012, the payments owed by the issuer were based on a coupon rate2 R/ @- i' u+ [: r1 t9 G2 e
closest to: 7 |$ P3 |  f4 T
A. 6.5%
1 k2 h) k7 a. K2 e5 zB. 5.0% 3 u! G2 J- _" M; K1 |
C. 4.5% . L2 q" X7 S/ ]4 c, w( ?4 P4 i

% g8 Z2 s7 M  {0 {8 s; \答案和详解,登录后回复可见:
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# o7 H! m* J" o0 X22. Which of the following provides the most flexibility for the bond issuer?  x2 i8 C! r. o" \
A. Put provision
7 `- r+ G" l6 q7 @" Z  ?. PB. Call provision
9 R% P7 b- F/ _C. Sinking fund provision ) W) v6 V$ g: o
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23. Which of the following provides the most protection to a bondholder?
6 }1 j1 u; W- n9 t- l! d( E6 dA. Call protection.
7 d0 I! X" o1 V8 U' KB. Refunding protection.
* D$ G. r3 R$ _  f! N. _- }C. Sinking fund protection. ! U, `( A1 V( q) O  s& E5 a
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24. Which statement regarding sinking funds is least likely correct?6 f# M5 M+ L, {- i  U2 V
A. Sinking fund provisions require the retirement of a portion of a bond issue in specified amounts prior to the maturity date. , c8 M6 I5 {: G
B. Sinking fund redemptions can be accomplished by making cash payment to the trustee who will then retire the required proportion of the bonds. + z  b. s5 j* z9 D  y# r7 A1 Y
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. ) H" y" N$ x6 h7 |. F
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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?
3 ~( {  @: g: o& W2 l4 FA. Term repo rate . n9 A2 K1 J3 u, l1 H$ V
B. Call money rate
* _2 U5 H8 q- 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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