题目 An investor purchases an annual coupon bond with a 6% coupon rate and exactly 20 years remaining until maturity at a price equal to par value. The investor’s investment horizon is eight [...]
题目 The interest rate risk of a fixed-rate bond with an embedded call option is best measured by: 选项 A.effective duration. B.modified duration. C.Macaulay duration. 答案 A 解析 ： A is [...]
题目 A fixed income analyst is least likely to conduct an independent analysis of credit risk because credit rating agencies: 选项 A.may at times mis-rate issues. B.often lag the market in [...]
题目 Credit risk of a corporate bond is best described as the: 选项 A.A risk that an issuer’s creditworthiness deteriorates. B.probability that the issuer fails to make full and timely [...]
题目 For a high-quality debt issuer with a large amount of publicly traded debt, bond investors tend to devote most effort to assessing the issuer’s: 选项 A.default risk. B.loss severity. [...]
题目 Credit yield spreads most likely widen in response to: 选项 A.high demand for bonds. B.weak performance of equities. C.strengthening economic conditions. 答案 B 解析 ： B is correct. In [...]
题目 Which of the following is most appropriate for measuring a bond’s sensitivity to shaping risk? 选项 A.key rate duration B.effective duration C.modified duration 答案 A 解析 ： A is [...]
题目 The risk that the price at which investors can actually transact differs from the quoted price in the market is called: 选项 A.spread risk. B.credit migration risk. C.market liquidity risk. [...]
题目 Loss severity is best described as the: 选项 A.default probability multiplied by the loss given default. B.portion of a bond’s value recovered by bondholders in the event of default. [...]
题目 An investor buys a three-year bond with a 5% coupon rate paid annually. The bond, with a yield-to-maturity of 3%, is purchased at a price of 105.657223 per 100 of par value. Assuming a 5-basis [...]
