更多"An analyst does research about bond"的相关试题:
[单项选择]An analyst does research about bond price and gathers the following information about a callable bond:
| Par value | $1000000 |
| Current market value | $923686 |
| Effective duration | 3.5 |
| Modified duration | 3.1 |
If yields are expected to increase by 125 basis points, the expected price change for the bond is closest to:（）
A. -$35793
B. -$40411
C. -$4,3750
[单项选择]An analyst does research about book value and gathers the following information from a company's balance sheet (in millions):
| Shareholders' equity | $150 |
| Preferred stock | $25 |
| Total liabilities | $50 |
| Issued common shares | 75 |
| Repurchased common shares | 20 |
The company's book value per share is closest to:（）
A. $1.67
B. $2.27
C. $2.73
[单项选择]An analyst does research about asset beta and gathers the following information about a company:
·Market value of equity is $900000
·Book value of equity is $1100000
·Market value of debt is $1000000
·Book value of debt is $950000
·Equity beta is 2.3
·Marginal tax rate is 40%（）
A. Assuming the company's debt has no market risk, the company's asset beta is closest to: 1.36
B. 1.38
C. 1.49
[单项选择]An analyst does research about covariance and gathers the following joint probability function for the return of two securities.
| Security 1 Return=10% | Security 1 Return=15% |
| Security 2 Return=6% | 0.0 | 0.4 |
| Security 2 Return=12% | 0.6 | 0.0 |
The covariance of returns between the two securities is closest to:（）
A. -4.8
B. -7.2
C. -8.4
[单项选择]An analyst does research about bond evaluation. Each of the option-free bonds listed below has a par value of $1000:
| Bond 1 | Bond 2 |
| Time to maturity | 12 years | 11 years |
| Annual coupon rate | 6.0% | 8.0% |
| Discount rate today | 7.5% | 7.5% |
Which of the following statements about the two bonds is most accurate If the discount rate for each of the bonds remains at 7.5 percent for ten years, the passage of time will result in an increase in value for:
A. Bond 1 only.
B. Bond 2 only.
C. both Bond 1 and Bond 2.
[单项选择]An analyst does research about yield spreads difference between a callable bond and a putable bond. Compared to an otherwise identical option-free bond, market participants would most likely require that yield spreads be:（）
A. larger for both a callable bond and a putable bond.
B. larger for a callable bond and smaller for a putable bond.
C. smaller for a callable bond and larger for a putable bond.
[单项选择]An analyst does research about valuation of bond. An option-free 6 percent coupon bond has an annual discount rate of 5 percent, pays interest semiannually, matures in five years, and is valued at $1043.76. One year later, the annual discount rate for that bond is 4.5 percent and the bond is valued at $1054.35. The change in value for this bond that is attributable only to the change of discount rate is closest to:（）
A. -$7.91
B. $7.91
C. $18.5
[单项选择]An analyst does research about yield spread. Which of the following embedded options in a bond is most likely t0 result in the highest yield spread over a comparable option-free Treasury security（）
A. Call option.
B. Floor on a floater.
C. Conversion option.
[单项选择]An analyst does research about yield to maturity and gathers the following information about a corporate bond paying interest semiannually:
| Par value | $1000 |
| Maturity | 10 years |
| Coupon rate | 6% |
If the bond is currently selling for $980 and expected inflation is 5%, the bond's yield to maturity is closest to:（）
A. 3.14%
B. 6.28%
C. 6.47%
[单项选择]An analyst does research about yield spread. With respect to yield spread on corporate bonds, which of the following statements is least accurate（）
A. The size of a bond issue is a factor in the determination of yield spreads.
B. Different sectors in the bond market require different spreads over Treasuries.
C. A bond with an embedded put option would require a wider spread than an otherwise comparable option-free bond.
[单项选择]An analyst does research about option-free bond price change due to both duration and convexity impacts. The duration of an option-free bond is 9.92, and the convexity measure for that bond is 63.8. If interest rates increase by 200 basis points, the bond's percentage price change is closest to:（）
A. -22.39%
B. -18.56%
C. -17.29%
[单项选择]An analyst does research about yield-to-maturity measure. The yield-to-maturity measure for a bond fails to consider the:（）
A. coupon income.
B. reinvestment income.
C. possibility that the bond is sold prior to maturity.
[单项选择]An analyst does research about a bond's indenture. Which of the following is an example of a affirmative covenant（）
A. Limit additional borrowings unless certainfinancial conditions are met.
B. Prohibit the same assets back several debt issues simultaneously.
C. Maintain of current ratio above 2.5.
[单项选择]An analyst does research about bank discount yield and gathers the following information about a U. S Treasury bill:
| Face value | ￥100000 |
| Maturity | 330days |
| Bank discount yield | 0.62% |
The present value of the U. S Treasury bill is closest to:（）
A. $99324
B. $99432
C. $99439
[单项选择]An analyst does research about standard deviation and gathers the following information about two scenarios:
| Scenario | Probability | Expected rate of return |
| A | 0.40 | -5% |
| B | 0.60 | 10% |
The expected standard deviation is closest to:（）
A. 5.29%
B. 7.35%
C. 8.57%
[单项选择]An analyst does research about portfolio management. Which of the following statements is Least accurate when an investor diversifies a portfolio（）
A. Systematic risk is eliminated.
B. The variance of the portfolio declines.
C. The portfolio will have a higher correlation with the market portfolio.
[单项选择]An analyst does research about relationship between credit spreads and economic well being. In general, credit spreads on corporate bonds tend to:（）
A. tighten during both economic expansions and economic contractions.
B. widen during economic expansions and tighten during economic contractions.
C. tighten during economic expansions and widen during economic contractions.
[单项选择]An analyst does research about calculating reinvestment income to achieve desired yield. An 8 percent coupon bond with seven years to maturity makes semiannual interest payment and has a maturity value of $1000. The bond is currently selling at $1112.96 to provide a 6 percent yield. The amount of reinvestment income required to generate this yield is closest to:（）
A. $110.48
B. $123.45
C. $226.44
