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本课程起止时间为:2021-02-28到2021-06-27
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4. Interest Rate Risk Interest Rate Risk Quiz

1、 问题:The term structure of interest rates assumes that
选项:
A:the risk of all assets is the same.
B:the time to maturity for all assets is the same.
C:the coupon rate of all assets is the same.
D:the market value of assets is the same..
答案: 【the risk of all assets is the same.

2、 问题:The unbiased expectations theory of the term
structure of interest rates
选项:
A:assumes that long-term interest rates are an arithmetic average of short-term rates
B:assumes that the yield curve reflects the market’s current expectations of future short-term interest rates.
C:recognizes that forward rates are perfect predictors of future interest rates.
D:assumes that risk premiums increase uniformly with maturity
答案: 【assumes that the yield curve reflects the market’s current expectations of future short-term interest rates.

3、 问题:The liquidity premium theory of the term structure of interest rates
选项:
A:assumes that investors will hold long-term maturity assets if there is a sufficient premium to compensate for the uncertainty of the long-term.
B:assumes that long-term interest rates are an arithmetic average of short-term rates plus a liquidity premium.
C:recognizes that forward rates are perfect predictors of future interest rates.
D:assumes that risk premiums increase uniformly with maturity.
答案: 【assumes that investors will hold long-term maturity assets if there is a sufficient premium to compensate for the uncertainty of the long-term.

4、 问题:The market segmentation theory of the term
structure of interest rates
选项:
A:assumes that investors will hold long-term maturity assets if there is a sufficient premium to compensate for the uncertainty of the long-term.
B:assumes that the yield curve reflects the market’s current expectations of future short-term interest rates.
C:assumes that market rates are determined by supply and demand conditions within fairly distinct time or maturity buckets.
D:fails to recognize that forward rates are not perfect predictors of future interest rates.
答案: 【assumes that market rates are determined by supply and demand conditions within fairly distinct time or maturity buckets.

5、 问题:Conyers Bank holds U.S. Treasury bonds with a book value of $30 million. However, the U.S. Treasury bonds currently are worth $28,387,500. The bank’s portfolio manager wants to shorten asset maturities. Which of the following statements is true?
选项:
A:The portfolio manager is reluctant to sell the bonds outright since the bank will have to take a loss.
B:The portfolio manager is willing to sell the bonds outright since they are not as valuable as their book value
C:The portfolio manager is willing to sell the bonds outright since they are more valuable than their book value
D:The portfolio manager is reluctant to sell the bonds outright since the bank will have to pay taxes on the gain.
答案: 【The portfolio manager is reluctant to sell the bonds outright since the bank will have to take a loss.

6、 问题:Conyers Bank holds U.S. Treasury bonds with a book value of $30 million. However, the U.S. Treasury bonds currently are worth $28,387,500. If the portfolio manager wants to shorten the bank’s asset maturity, what type of risk is she concerned about?
选项:
A:Credit risk.
B:Foreign exchange rate risk.
C:The risk of rising interest rates.
D:The risk of falling interest rates.
答案: 【The risk of rising interest rates.

7、 问题:The discount rate that equalizes the current market value of a loan or security with the expected stream of future income payments from that loan or security is known as:
选项:
A:A. bank discount rate.
B:B. yield to maturity.
C:C. annual percentage rate.
D:D. net interest margin.
答案: 【B. yield to maturity.

8、 问题:A bank whose interest-sensitive assets total $350 million and its interest-sensitive liabilities amount to $175 million has:
选项:
A:A. an asset-sensitive gap of $525 million.
B:B. a liability-sensitive gap of $175 million.
C:C. an asset-sensitive gap of $175 million.
D:D. a liability-sensitive gap of $350 million.
答案: 【C. an asset-sensitive gap of $175 million.

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