博迪的投资学第⼆章练习题（英）
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1.Which of the following is not a money market instrument?
A. Treasury bill
B. Commercial paper
C. Preferred stock
D. Banker's acceptance
2.Thirteen week T-bill auctions are conducted ____.
A. daily
B. weekly
C. monthly
D. quarterly
3.When computing the bank discount yield you would use ____ days in the year.
A. 260
B. 360
C. 365
D. 366
4. A dollar denominated deposit at a London bank is called _____.
A. eurodollars
B. LIBOR
C. fed funds
D. banker's acceptance
5.Money market securities are sometimes referred to as "cash equivalent" because _____.
A. they are safe and marketable
B. they are not liquid
C. they are high risk
D. they are low denomination
6.The most actively traded money market security is
A. Treasury bills
B. Bankers' Acceptances
C. Certificates of Deposit
D. Common stock
7.______ voting of common stock gives minority shareholders the most representation on the board of directors.
A. Majority
B. Cumulative
C. Rights
D. Proxy
8.An investor in a T-bill earns interest by _________.
A. receiving interest payments every 90 days
B. receiving dividend payments every 30 days
C. converting the T-bill at maturity into a higher valued T-note
D. buying the bill at a discount from the face value received at maturity
9.______ would not be included in the EAFE index.
A. Australia
B. Canada
C. France
D. Japan
10._____ is considered to be an emerging market country.
A. France
B. Norway
C. Brazil
D. Canada
11.Which one of the following is a true statement?
A. Dividends on preferred stocks are tax-deductible to individual investors but not to corporate investors
B. Common dividends cannot be paid if preferred dividends are in arrears on cumulative preferred stock
C. Preferred stockholders have voting power
D. Investors can sue managers for nonpayment of preferred dividends
12.The bid price of a treasury bill is _________.
A. the price at which the dealer in treasury bills is willing to sell the bill
B. the price at which the dealer in treasury bills is willing to buy the bill
C. greater than the ask price of the treasury bill expressed in dollar terms
D. the price at which the investor can buy the treasury bill
13.The German stock market is measured by which market index?
A. FTSE
B. Dow Jones 30
C. DAX
D. Nikkei
14.Deposits of commercial banks at the Federal Reserve are called _____.
A. bankers acceptances
B. federal funds
C. repurchase agreements
D. time deposits
15.Which of the following is not a true statement regarding municipal bonds?
A. A municipal bond is a debt obligation issued by state or local governments.
B. A municipal bond is a debt obligation issued by the Federal Government.
C. The interest income from a municipal bond is exempt from federal income taxation.
D. The interest income from a municipal bond is exempt from state and local taxation in the issuing state.
16.Which of the following is not a characteristic of a money market instrument?
A. Liquidity
B. Marketability
C. Low risk
D. Maturity greater than one year
17.An individual who goes short in a futures position
A. commits to delivering the underlying commodity at contract maturity
B. commits to purchasing the underlying commodity at contract maturity
C. has the right to deliver the underlying commodity at contract maturity
D. has the right to purchase the underlying commodity at contract maturity
18.Which of the following is not a nickname for an agency associated with the mortgage markets?
A. Fannie Mae
B. Freddie Mac
C. Sallie Mae
D. Ginnie Mae
www.doczj/doc/50f32b22dd36a32d73758155.html mercial paper is a short-term security issued by __________ to raise funds.
A. the Federal Reserve
B. commercial banks
C. large well-known companies
D. the New York Stock Exchange
20.The maximum maturity on commercial paper is
A. 270 days
B. 180 days
C. 90 days
D. 30 days
21.Which one of the following is a true statement regarding the Dow Jones Industrial Average?
A. It is a value-weighted average of 30 large industrial stocks
B. It is a price-weighted average of 30 large industrial stocks
C. It is a price-weighted average of 100 large stocks traded on the New York Stock Exchange
D. It is a value-weighted average of all stocks traded on the New York Stock Exchange
22.Treasury bills are financial instruments issued by __________ to raise funds.
A. commercial banks
B. the Federal Government
C. large corporations
D. state and city governments
23.Which of the following are true statements about T-bills?
I. T-bills typically sell in denominations of $10,000
II. Income earned on T-bills is exempt from all Federal taxes
III. Income earned on T-bills is exempt from state and local taxes
A. I only
B. I and II only
C. I and III only
D. I, II and III
24. A bond that has no collateral is called _________.
A. a callable bond
B. a debenture
C. a junk bond
D. a mortgage
25. A __________ gives its holder the right to sell an asset for a specified exercise price on or before a specified expiration date.
A. call option
B. futures contract
C. put option
D. interest rate swap
26. A T-bill quote sheet has 90 day T-bill quotes with a 4.92 bid and a 4.86 ask. If the bill has a $10,000 face value an investor could buy this bill for
A. $10,000.00
B. $9,878.50
C. $9,877.00
D. $9,880.16
27.Which one of the following is a true statement regarding corporate bonds?
A. A corporate callable bond gives its holder the right to exchange it for a specified number of the
company's common shares
B. A corporate debenture is a secured bond
C. A corporate convertible bond gives its holder the right to exchange it for a specified number of the company's common shares
D. Holders of corporate bonds have voting rights in the company
28.The yield on tax-exempt bonds is ______.
A. usually less than 50% of the yield on taxable bonds
deductible
B. normally about 90% of the yield on taxable bonds
C. greater than the yield on taxable bonds
D. less than the yield on taxable bonds
29.__________ is not a money market instrument.
A. A certificate of deposit
B. A treasury bill
C. A treasury bond
D. Commercial paper
30.An investor buys a T-bill at a bank discount quote of 4.80 with 150 days to maturity. The investor's actual annual rate of return on this investment was _____.
A. 4.80%
B. 4.97%
C. 5.47%
D. 5.74%
31.The U.K. stock index is the _________.
A. DAX
B. FTSE
C. GSE
D. TSE
32. A __________ gives its holder the right to buy an asset for a specified exercise price on or before a specified expiration date.
A. call option
B. futures contract
C. put option
D. interest rate swap
33.Which one of the following provides the best example of securitization?
A. convertible bond
B. call option

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