资源描述：
《BH_FFM13_TB_ch07》由会员上传分享，免费在线阅读，更多相关内容在教育资源-天天文库。
1、CHAPTER7BONDSANDTHEIRVALUATION(DifficultyLevels:Easy,Easy/Medium,Medium,Medium/Hard,andHard)NotethatthereissomeoverlapbetweentheT/Fandthemultiplechoicequestions,assomeT/FstatementsareusedintheMCquestions.SeetheprefaceforinformationontheAACSBletterindicato
2、rs(F,M,etc.)onthesubjectlines.MultipleChoice:True/False(7-2)CouponrateFGAnswer:aEASY.(7-2)CouponrateFGAnswer:aEASY.Ifafirmraisescapitalbysellingnewbonds,itcouldbecalledthe“issuingfirm,”andthecouponrateisgenerallysetequaltotherequiredrateonbondsofequalrisk
3、.a.Trueb.False(7-2)CallprovisionFGAnswer:bEASY.(7-2)CallprovisionFGAnswer:bEASY.Acallprovisiongivesbondholderstherighttodemand,or“callfor,”repaymentofabond.Typically,companiescallbondsifinterestratesriseanddonotcallthemifinterestratesdecline.a.Trueb.False
4、(7-2)SinkingfundFGAnswer:aEASY.(7-2)SinkingfundFGAnswer:aEASY.Sinkingfundsareprovisionsincludedinbondindenturesthatrequirecompaniestoretirebondsonascheduledbasispriortotheirfinalmaturity.Manyindenturesallowthecompanytoacquirebondsforsinkingfundpurposesbye
5、ither(1)purchasingbondsontheopenmarketatthegoingmarketpriceor(2)selectingthebondstobecalledbyalotteryadministeredbythetrustee,inwhichcasethepricepaidisthebond'sfacevalue.a.Trueb.False(7-2)ZerocouponbondFGAnswer:bEASY.(7-2)ZerocouponbondFGAnswer:bEASY.Azer
6、ocouponbondisabondthatpaysnointerestandisoffered(andinitiallysells)atpar.Thesebondsprovidecompensationtoinvestorsintheformofcapitalappreciation.a.Trueb.FalseChapter7:BondsTrue/FalsePage229©2013CengageLearning.AllRightsReserved.Maynotbecopied,scanned,ordup
7、licated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.(7-2)Floating-ratedebtFGAnswer:aEASY.(7-2)Floating-ratedebtFGAnswer:aEASY.Thedesireforfloating-ratebonds
8、,andconsequentlytheirincreasedusage,aroseoutoftheexperienceoftheearly1980s,wheninflationpushedinterestratesuptoveryhighlevelsandthuscausedsharpdeclinesinthepricesofoutstandingbonds.a.Trueb.False(7-3)Discountedcashfl
