货币金融学英文试卷

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1、SampleExam(货币金融学2013-2014Fall)MULTIPLECHOICE.Choosetheonealternativethatbestcompletesthestatementoranswersthequestion.1)Theupwardanddownwardmovementofaggregateoutputproducedintheeconomyisreferredtoasthe.i)A)businesscycleB)shockwaveC)seesawD)rollercoaster2)Increasingtheamountofinformationavai

2、labletoinvestorshelpstoreducetheproblemsofandinthefinancialmarkets.2)A)adverseselection;economiesofscaleB)adverseselection;moralhazardC)moralhazard;transactionscostsD)adverseselection;risksharing3)WhenIpurchase,Iownaportionofafirmandhavetherighttovoteonissuesimportanttothefirmandtoelectitsdi

3、rectors.3)A)bondsB)notesC)billsD)stock4)Dennisnoticesthatjacketsareonsalefor$99.Inthiscasemoneyisfunctioningasa.4)A)unitofaccountB)payments-systemrulerC)storeofvalueD)mediumofexchange5)Whentheinflationrateisexpectedtoincrease,theforbondsfalls,whilethecurveshiftstotheright,everythingelseheldc

4、onstant.5)A)supply;supplyB)demand;demandC)supply;demandD)demand;supply1)A2)B3)D4)A5)DCALCULATIONQUESTION.(Pleasewritedownboththetimelinefromtheborrower,sperspectiveandthepresent(orfuture)valueformulaforAnnuity,beforeyouproceedtodocalculationexercises.)1)YouplantobuyahouseforY1,000,000Yuan.Th

5、ebankrequiresthatyoupay60%ofthepurchasepriceasadownpayment.Supposeyouhave100,500savedalready,andyoucanaffordtosaveanadditional50,000peryearattheendofeachyear.Ifyouearn7.25%peryearonyoursavings,howlongwillittakeyoutosaveyourdownpayment?(ln(1.632)/ln(1.0725)=7)2)Supposethebankoffersyoua30-year

6、mortgageloanwithequalmonthlypaymentsandanannualpercentageinterestrateof8.4%peryear.SinceyoucanborrowonlyY400,000Yuan.Whatisthepaymentofyourmortgageloan?(Tips:convertingtheannualpercentageratetotheloanratepermonth.(1.007)360=12.32)3)Supposeyouhavealreadypaidforthemortgageloanfortwoyears,howmu

7、chdoyoustilloweontheloan?(1.007)336=10.424)Howmuchinterestdidyoupayontheloaninthepastyear?(1.007)348=11.33