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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. N/ ~& j# @" B1 Z2 g4 i( [8 U/ J( S
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:  E$ a& V, e$ j' k; i6 t* X# v( {
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/ [" r1 h* m+ P$ P' w8 |, k- X) F& ~
closest to:
- U/ d" S# }9 j  WA. 6.5% 5 r% b  y6 I2 ^& c7 j7 V- D8 a3 A
B. 5.0% 4 b% H4 c, B5 Y5 n* }4 t9 B7 v
C. 4.5%   _: b* O+ }4 M* q7 ^  ^

! [. e# {+ T2 Y( L7 d2 s) G* M" ]答案和详解,登录后回复可见:
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+ Q, m# `0 n$ q; Y- [& U22. Which of the following provides the most flexibility for the bond issuer?* C. H$ ^9 v, K" G* }" I# u! z+ s
A. Put provision ' Y! Y9 y: {3 `( t
B. Call provision
! R6 H- F7 L5 U- G' c& s3 c: x! vC. Sinking fund provision
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23. Which of the following provides the most protection to a bondholder?
( W* [8 H9 T- t3 FA. Call protection.
& X1 D# L0 y3 q" z; F. W) ]) R4 v& @B. Refunding protection.
  a/ L" v: c; }C. Sinking fund protection.
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24. Which statement regarding sinking funds is least likely correct?
9 T- g7 ^6 L2 K9 |$ i& H$ j/ sA. Sinking fund provisions require the retirement of a portion of a bond issue in specified amounts prior to the maturity date. ) B% E) U7 h" w& k, o
B. Sinking fund redemptions can be accomplished by making cash payment to the trustee who will then retire the required proportion of the bonds.
+ N! G1 G6 t- d" X( D5 wC. 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.
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4 G- o1 L; P0 z' |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?& ~9 K* B; p9 a" K7 {
A. Term repo rate . y8 }  V; w1 X1 {( V
B. Call money rate / h' z8 z; W- d( T. B
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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