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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 4 o3 G9 J( n0 u' M" s" U

& M9 D+ }0 F/ V8 WCFA Level I:Fixed Income - Features of debts securities 习题精选" O6 c  {0 [/ D9 v. K8 Q1 X- R
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:% b+ @% I) }- P) V6 H, 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 rate
2 e$ Q. P$ P: r7 t3 |& j5 T2 |4 Lclosest to:
/ E) R" e8 \2 i1 }! y1 cA. 6.5% ( {  l% H; B6 t6 e0 K
B. 5.0%
! H& `- L0 ]3 v2 A5 VC. 4.5%
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7 q4 |. J" i8 X3 {; x7 t" x22. Which of the following provides the most flexibility for the bond issuer?
, {. ?7 E* x6 ^  @- |- HA. Put provision , v( n) k( d4 b8 }  z4 v, l
B. Call provision " W% c( x, K; Z, ?$ O" o: `
C. Sinking fund provision
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23. Which of the following provides the most protection to a bondholder?$ _. ^- G0 e4 y% n6 ~
A. Call protection. : ~  \0 ~! A5 D; q+ R! k
B. Refunding protection. 3 J* {* R8 j, e- }" X
C. Sinking fund protection. ; {3 i) v2 L+ E

6 C( b9 ^2 S: k3 C' Z  B
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9 M$ W2 |7 N' w2 i' t4 i9 v24. Which statement regarding sinking funds is least likely correct?
& Z8 c' V" T& o: Z+ P/ oA. Sinking fund provisions require the retirement of a portion of a bond issue in specified amounts prior to the maturity date.
" V1 Z6 n0 y# G  U3 ?, h- ^' 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. 2 s; O8 Y2 V  @! a
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. # V$ `" j$ @1 A. O! o/ H
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1 Q, {8 h: q$ D# k' C25. 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?
, c, k6 O% ?. @3 GA. Term repo rate ! @. V# M3 f6 y( c% A6 }# H# z
B. Call money rate ! p. }( F% x* m7 }* x* I" c
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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