题目 A bond portfolio consists of the following three fixed-rate bonds. Assume annual coupon payments and no accrued interest on the bonds. Prices are per 100 of par [...]
题目 Assuming no change in the credit risk of a bond, the presence of an embedded put option: 选项 A.reduces the effective duration of the bond. B.increases the effective duration of the bond. [...]
题目 A bond with exactly nine years remaining until maturity offers a 3% coupon rate with annual coupons. The bond, with a yield-to-maturity of 5%, is priced at 85.784357 per 100 of par value. The [...]
题目 Which type of security is most likely to have the same rating as the issuer? 选项 A.Preferred stock B.Senior secured bond C.Senior unsecured bond 答案 C 解析 ： C is correct. The issuer [...]
题目 Support tranches are most appropriate for investors who are: 选项 A.concerned about their exposure to extension risk. B.concerned about their exposure to concentration risk. C.willing to [...]
题目 Which of the following is most likely an advantage of collateralized mortgage obligations (CMOs)? CMOs can 选项 A.eliminate prepayment risk. B.be created directly from a pool of mortgage [...]
题目 Credit risk is an important consideration for commercial mortgage-backed securities (CMBS) if the CMBS are backed by mortgage loans that: 选项 A.are non-recourse. B.have call protection. [...]
题目 Securitization benefits financial markets by: 选项 A.increasing the role of intermediaries. B.establishing a barrier between investors and originating borrowers. C.allowing investors to [...]
题目 Which of the following characteristics of a residential mortgage loan would best protect the lender from a strategic default by the borrower? 选项 A.Recourse B.A prepayment option [...]
题目 Which commercial mortgage-backed security (CMBS) characteristic causes a CMBS to trade more like a corporate bond than a residential mortgage-backed security (RMBS)? 选项 A.Call protection [...]
