The Economics of Money, Banking and Financial Markets (11th 11E - Mishkin - TB web chapter 4

《The Economics of Money, Banking and Financial Markets (11th 11E - Mishkin - TB web chapter 4》由会员上传分享，免费在线阅读，更多相关内容在学术论文-天天文库。

1、EconomicsofMoney,Banking,andFinancialMarkets,11e(Mishkin)WebChapter4:FinancialDerivativesWC4.1Hedging1)ThepayoffsforfinancialderivativesarelinkedtoA)securitiesthatwillbeissuedinthefuture.B)thevolatilityofinterestrates.C)previouslyissuedsecurities.D)governmentregulationsspecifyingallowable

2、ratesofreturn.Answer:CAACSB:Reflectivethinking2)Whichofthefollowingisnotafinancialderivative?A)stockB)futuresC)optionsD)forwardcontractsAnswer:AAACSB:Analyticalthinking3)Byhedgingaportfolio,abankmanagerA)reducesinterest-raterisk.B)increasesreinvestmentrisk.C)increasesexchange-raterisk.D)i

3、ncreasestheprobabilityofgains.Answer:AAACSB:Reflectivethinking4)HedgingriskforashortpositionisaccomplishedbyA)takingalongposition.B)takinganothershortposition.C)takingadditionallongandshortpositionsinequalamounts.D)takinganeutralposition.Answer:AAACSB:Reflectivethinking5)Hedgingriskforalo

4、ngpositionisaccomplishedbyA)takinganotherlongposition.B)takingashortposition.C)takingadditionallongandshortpositionsinequalamounts.D)takinganeutralposition.Answer:BAACSB:Analyticalthinking19Copyright©2016PearsonEducation,Inc.6)Acontractthatrequirestheinvestortobuysecuritiesonafuturedateis

5、calledaA)shortcontract.B)longcontract.C)hedge.D)cross.Answer:BAACSB:Reflectivethinking7)AlongcontractrequiresthattheinvestorA)sellsecuritiesinthefuture.B)buysecuritiesinthefuture.C)hedgeinthefuture.D)closeouthispositioninthefuture.Answer:BAACSB:Reflectivethinking8)Apersonwhoagreestobuyana

6、ssetatafuturedateisgoingA)long.B)short.C)back.D)ahead.Answer:AAACSB:Reflectivethinking9)AshortcontractrequiresthattheinvestorA)sellsecuritiesinthefuture.B)buysecuritiesinthefuture.C)hedgeinthefuture.D)closeouthispositioninthefuture.Answer:AAACSB:Reflectivethinking10)Acontractthatrequirest

7、heinvestortosellsecuritiesonafuturedateiscalledaA)shortcontract.B)longcontract.C)hedge.D)microhedge.Answer:AAACSB:Reflectivethinking19Copyright©2016PearsonEducation,Inc.WC4.2Interest-RateForwardContracts1)TosaythattheforwardmarketlacksliquiditymeansthatA)forwardcont