金融市场和机构(15)

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1、Chapter15WhyDoFinancialInstitutionsExist?203Chapter15WhyDoFinancialInstitutionsExist?nMultipleChoiceQuestions1.OfthefollowingsourcesofexternalfinanceforAmericannonfinancialbusinesses,theleastimportantis(a)loansfrombanks.(b)stocks.(c)bondsandcommercialpaper.(d)nonbankloans.Answer:B2.Ofthefollowi

2、ngsourcesofexternalfinanceforAmericannonfinancialbusinesses,themostimportantis(a)loansfrombanks.(b)stocks.(c)bondsandcommercialpaper.(d)nonbankloans.Answer:D3.OfthesourcesofexternalfundsfornonfinancialbusinessesintheUnitedStates,bondsaccountforapproximately_________ofthetotal.(a)10percent(b)20p

3、ercent(c)30percent(d)50percentAnswer:C4.OfthesourcesofexternalfundsfornonfinancialbusinessesintheUnitedStates,stocksaccountforapproximately_________ofthetotal.(a)10percent(b)20percent(c)30percent(d)40percentAnswer:AChapter15WhyDoFinancialInstitutionsExist?2035.Withregardtoexternalsourcesoffinan

4、cingfornonfinancialbusinessesintheUnitedStates,whichofthefollowingareaccuratestatements?(a)MarketablesecuritiesaccountforalargershareofexternalbusinessfinancingintheUnitedStatesthaninmostothercountries.(b)Since1970,lessthan5percentofnewlyissuedcorporatebondsandcommercialpaperhavebeensolddirectl

5、ytoAmericanhouseholds.(c)ThestockmarketaccountedforthelargestshareofthefinancingofAmericanbusinessesinthe1970–2000period.(d)Alloftheabove.(e)Only(a)and(b)oftheabove.Answer:E6.WithregardtoexternalsourcesoffinancingfornonfinancialbusinessesintheUnitedStates,whichofthefollowingareaccuratestatement

6、s?(a)Directfinanceisusedinlessthan5percentoftheexternalfinancingofAmericanbusinesses.(b)Onlylarge,well-establishedcorporationshaveaccesstosecuritiesmarketstofinancetheiractivities.(c)LoansfrombanksandotherfinancialintermediariesintheUnitedStatesprovidefivetimesmorefinancingofcorporateactivities

7、thandostockmarkets.(d)Alloftheabove.(e)Only(a)and(b)oftheabove.Answer:D7.(I)IntheUnitedStatesnonbankloansarethemostimportantsourceofexternalfundsfornonfinancialbusinesses.(II)InGermanyandJapan,issuingstocksandbondsisthemostimporta