货币金融学chapter 6英文习题.doc

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1、EconomicsofMoney,Banking,andFinancialMarkets,11e,GlobalEdition(Mishkin)Chapter6TheRiskandTermStructureofInterestRates6.1RiskStructureofInterestRates1)TheriskstructureofinterestratesisA)thestructureofhowinterestratesmoveovertime.B)therelationshipamonginterestratesofdifferentbondswiththe

2、samematurity.C)therelationshipamongthetermtomaturityofdifferentbonds.D)therelationshipamonginterestratesonbondswithdifferentmaturities.Answer:BAACSB:ReflectiveThinking2)Theriskthatinterestpaymentswillnotbemade,orthatthefacevalueofabondisnotrepaidwhenabondmaturesisA)interestraterisk.B)i

3、nflationrisk.C)liquidityrisk.D)defaultrisk.Answer:DAACSB:ApplicationofKnowledge3)BondswithnodefaultriskarecalledA)flowerbonds.B)no-riskbonds.C)default-freebonds.D)zero-riskbonds.Answer:CAACSB:ApplicationofKnowledge4)Whichofthefollowingbondsareconsideredtobedefault-riskfree?A)municipalb

4、ondsB)investment-gradebondsC)U.S.TreasurybondsD)junkbondsAnswer:CAACSB:AnalyticalThinking5)U.S.governmentbondshavenodefaultriskbecauseA)theyareissuedinstrictlylimitedquantities.B)thefederalgovernmentcanincreasetaxesorprintmoneytopayitsobligations.C)theyarebackedwithgoldreserves.D)theyc

5、anbeexchangedforsilveratanytime.Answer:BAACSB:ReflectiveThinking25Copyright©2016PearsonEducation,Ltd.6)Thespreadbetweentheinterestratesonbondswithdefaultriskanddefault-freebondsiscalledtheA)riskpremium.B)junkmargin.C)bondmargin.D)defaultpremium.Answer:AAACSB:ApplicationofKnowledge7)Ift

6、heprobabilityofabonddefaultincreasesbecausecorporationsbegintosufferlargelosses,thenthedefaultriskoncorporatebondswill________andtheexpectedreturnonthesebondswill________,everythingelseheldconstant.A)decrease;increaseB)decrease;decreaseC)increase;increaseD)increase;decreaseAnswer:DAACS

7、B:ReflectiveThinking8)Abondwithdefaultriskwillalwayshavea________riskpremiumandanincreaseinitsdefaultriskwill________theriskpremium.A)positive;raiseB)positive;lowerC)negative;raiseD)negative;lowerAnswer:AAACSB:ReflectiveThinking9)Ifacorporationbeginstosufferlargelosses,thenthedefault