金融市场和机构(15)

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

2、ourcesofexternalfinanceforAmericannonfinancialbusinesses,themostimportantis(a)loansfrombanks.(b)stocks.(c)bondsandcommercialpaper.(d)nonbankloans.Answer:D3.OfthesourcesofexternalfundsfornonfinancialbusinessesintheUnitedStates,bondsaccountforapproximately

3、_________ofthetotal.(a)10percent(b)20percent(c)30percent(d)50percentAnswer:C4.OfthesourcesofexternalfundsfornonfinancialbusinessesintheUnitedStates,stocksaccountforapproximately_________ofthetotal.(a)10percent(b)20percent(c)30percent(d)40percentAnswer:A5

4、.WithregardtoexternalsourcesoffinancingfornonfinancialbusinessesintheUnitedStates,whichofthefollowingareaccuratestatements?(a)MarketablesecuritiesaccountforalargershareofexternalbusinessfinancingintheUnitedStatesthaninmostothercountries.(b)Since1970,less

5、than5percentofnewlyissuedcorporatebondsandcommercialpaperhavebeensolddirectlytoAmericanhouseholds.(c)ThestockmarketaccountedforthelargestshareofthefinancingofAmericanbusinessesinthe1970–2000period.(d)Alloftheabove.(e)Only(a)and(b)oftheabove.Answer:E6.Wit

6、hregardtoexternalsourcesoffinancingfornonfinancialbusinessesintheUnitedStates,whichofthefollowingareaccuratestatements?(a)Directfinanceisusedinlessthan5percentoftheexternalfinancingofAmericanbusinesses.(b)Onlylarge,well-establishedcorporationshaveaccesst

7、osecuritiesmarketstofinancetheiractivities.(c)LoansfrombanksandotherfinancialintermediariesintheUnitedStatesprovidefivetimesmorefinancingofcorporateactivitiesthandostockmarkets.(d)Alloftheabove.(e)Only(a)and(b)oftheabove.Answer:D7.(I)IntheUnitedStatesnon

8、bankloansarethemostimportantsourceofexternalfundsfornonfinancialbusinesses.(II)InGermanyandJapan,issuingstocksandbondsisthemostimportantsourceofexternalfornonfinancialbusinesses.(a)(I)istrue,(II)false.(b)(I)isfalse,(II)tru