题目 The following information is from the annual report of Adidas AG for December 2019:Depreciation and amortization: €1,214 millionTotal assets: €20,640 millionTotal debt: €4,364 [...]
题目 A credit analyst is evaluating the credit worthiness of three companies: a construction company, a travel and tourism company, and a beverage company. Both the construction and travel and [...]
题目 In credit analysis, capacity is best described as the: 选项 A.quality of management. B.ability of the borrower to make its debt payments on time. C.quality and value of the assets supporting [...]
题目 The holding period for a bond at which the coupon reinvestment risk offsets the market price risk is best approximated by: 选项 A.duration gap. B.modified duration. C.Macaulay duration. [...]
题目 An issuer credit rating usually applies to a company’s: 选项 A.secured debt. B.subordinated debt. C.senior unsecured debt. 答案 C 解析 ： C is correct. An issuer credit rating usually [...]
题目 In order to determine the capacity of a company, it would be most appropriate to analyze the: 选项 A.company’s strategy. B.growth prospects of the industry. C.aggressiveness of the [...]
题目 Empirical duration is likely the best measure of the impact of yield changes on portfolio value, especially under stressed market conditions, for a portfolio consisting of: 选项 A.100% [...]
题目 Which of the following corporate debt instruments has the highest seniority ranking? 选项 A.Second lien B.Senior unsecured C.Senior subordinated 答案 A 解析 ： A is correct. Second lien [...]
题目 Which of the following sources of return is most likely exposed to interest rate risk for an investor of a fixed-rate bond who holds the bond until maturity? 选项 A.Capital gain or loss [...]
题目 In the event of default, the recovery rate of which of the following bonds would most likely be the highest? 选项 A.First mortgage debt B.Senior unsecured debt C.Junior subordinate debt [...]
