题目 Credit spreads are most likely to widen: 选项 A.in a strengthening economy. B.as the credit cycle improves. C.in periods of heavy new issue supply and low borrower demand. 答案 C 解析 [...]
题目 When the investor’s investment horizon is less than the Macaulay duration of the bond she owns: 选项 A.the investor is hedged against interest rate risk. B.reinvestment risk dominates, and [...]
题目 The risk that a bond’s creditworthiness declines is best described by: 选项 A.credit migration risk. B.market liquidity risk. C.spread widening risk. 答案 A 解析 ： A is correct. [...]
题目 When determining the capacity of a borrower to service debt, a credit analyst should begin with an examination of: 选项 A.industry structure. B.industry fundamentals. C.company fundamentals. [...]
题目 Based on the information in Exhibit 2, GZ Group’s (a hypothetical company) credit risk is most likely:「huixue_img/importSubject/1564548168417415168.png」 选项 A.lower than the industry. [...]
题目 The factor that most likely results in corporate credit spreads widening is: 选项 A.an improving credit cycle. B.weakening economic conditions. C.a period of high demand for bonds. 答案 B [...]
题目 A limitation of calculating a bond portfolio’s duration as the weighted average of the yield durations of the individual bonds that compose the portfolio is that it: 选项 A.assumes a [...]
题目 A Canadian pension fund manager seeks to measure the sensitivity of her pension liabilities to market interest rate changes. The manager determines the present value of the liabilities under [...]
题目 A bond has an annual modified duration of 7.140 and annual convexity of 66.200. The bond’s yield-to-maturity is expected to increase by 50 basis points. The expected percentage price change [...]
题目 If goodwill makes up a large percentage of a company’s total assets, this most likely indicates that: 选项 A.the company has low free cash flow before dividends. B.there is a low [...]
