money and bank test bank chap06

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1、TheEconomicsofMoney,Banking,andFinancialMarkets,9e(Mishkin)Chapter6TheRiskandTermStructureofInterestRates6.1RiskStructureofInterestRates1)TheriskstructureofinterestratesisA)thestructureofhowinterestratesmoveovertime.B)therelationshipamonginterestratesofdifferentbondswiththes

2、amematurity.C)therelationshipamongthetermtomaturityofdifferentbonds.D)therelationshipamonginterestratesonbondswithdifferentmaturities.Answer:BQuesStatus:PreviousEdition2)Theriskthatinterestpaymentswillnotbemade,orthatthefacevalueofabondisnotrepaidwhenabondmaturesisA)interest

3、raterisk.B)inflationrisk.C)moralhazard.D)defaultrisk.Answer:DQuesStatus:PreviousEdition3)BondswithnodefaultriskarecalledA)flowerbonds.B)no-riskbonds.C)default-freebonds.D)zero-riskbonds.Answer:CQuesStatus:PreviousEdition4)Whichofthefollowingbondsareconsideredtobedefault-risk

4、free?A)MunicipalbondsB)Investment-gradebondsC)U.S.TreasurybondsD)JunkbondsAnswer:CQuesStatus:PreviousEdition5)U.S.governmentbondshavenodefaultriskbecauseA)theyarebackedbythefullfaithandcreditofthefederalgovernment.B)thefederalgovernmentcanincreasetaxestopayitsobligations.C)t

5、heyarebackedwithgoldreserves.D)theycanbeexchangedforsilveratanytime.Answer:BQuesStatus:PreviousEdition236)Thespreadbetweentheinterestratesonbondswithdefaultriskanddefault-freebondsiscalledtheA)riskpremium.B)junkmargin.C)bondmargin.D)defaultpremium.Answer:AQuesStatus:Previous

6、Edition7)Iftheprobabilityofabonddefaultincreasesbecausecorporationsbegintosufferlargelosses,thenthedefaultriskoncorporatebondswill________andtheexpectedreturnonthesebondswill________,everythingelseheldconstant.A)decrease;increaseB)decrease;decreaseC)increase;increaseD)increa

7、se;decreaseAnswer:DQuesStatus:PreviousEdition8)Abondwithdefaultriskwillalwayshavea________riskpremiumandanincreaseinitsdefaultriskwill________theriskpremium.A)positive;raiseB)positive;lowerC)negative;raiseD)negative;lowerAnswer:AQuesStatus:PreviousEdition9)Ifacorporationbegi

8、nstosufferlargelosses,thenthedefaultriskonthecorporatebondwillA)increaseand