[单项选择]The term (maturity) of a forward rate agreement is 90 days and the underlying rate is 180 - day LIBOR. If 180-day LIBOR increases over the term (life) of the contract, which of the following best describes the descriptive notation for the contract and the party receiving payment at expiration, respectively Descriptive notation Party receiving payment at expiration ①A. 3 × 6 Long ②B. 3 × 9 Long ③C. 3 × 6 Short

[简答题]远期利率协议(Forward Interest Rate Agreement)

[单项选择]A short position in a forward rate agreement is equivalent to:（　）
A. writing an interest rate put and buying an interest rate call. 
B. buying an interest rate put and an interest rate call. 
C. writing an interest rate call and buying an interest rate put.

[单项选择]A forward rate agreement (FRA) :（　）
A. must consider the creditworthiness of the parties making the deal when determining the rate. 
B. requires the long to pay cash to the short if the rate specified in the contract at expiration is below the current floating rate. 
C. can sometimes be viewed as the right to borrow money at below-market rates.

[单项选择]Consider a forward rate agreement (FRA) that expires in 90 days. The agreement is based on the 180-day LIBOR. The long position agrees to borrow $ 10000000 from the short position (i. e. the dealer). The dealer quotes this instrument at 6 percent. Today, the 90-day LIBOR is 5.5 percent. If the 180-day LIBOR in 90 days is quoted at 5 percent, compute the amount of the cash settlement payment made or received by the borrower at expiration. The borrower will:（）
A. make a payment of $ 48780.
B. make a payment of $ 48543.
C. receive a payment of $ 48543.

[单项选择]A forward exchange rate can move for two reasons: (1) because the spot rate moves, and (2) ______.
A. because of changes in interest rate which affect the forward rates
B. because of changes in interest rate which affect the forward differential
C. for the changes in interest rate affect the forward rates
D. because of changes in interest rate which affect the spot rates

[单项选择]A. A long-term interest rate. B. A long-term loan.
C. A short-term interest rate. D. A short-term loan.

[单项选择]Analoges

CALLOW : MATURITY ::
A. incipient: fruition
B. eager : anxiety
C. youthful : senility
D. apathetic : disinterest
E. (E) pallid : purity

[填空题]reach an agreement

[单项选择]　　Finishing teacher’s evaluations need maturity and objectivity. Every semester we have the opportunity to evaluate our instructors. We are supposed to judge their lectures, interest in students’’ problems, methods of assigning work, and general ability to conduct a class. Then, when the instructor has left the room, we must write our evaluations on the forms provided. We are not sup-posed to exchange view or discuss our responses. After everyone has completed the forms, one student collects and tallies the responses and then puts them in an envelope and makes them sealed. 　　It is very difficult to evaluate another person’s performance objectively. For example, Senta recently wrote irresponsible remarks about her instructor because she was falling to pass the course. Her friend Sam wrote a marvelous description of the same instructor because he received an A in the course. Both Senta and Sam were not fairly evaluating the instructor. They were affected by the grades they were earning
A. biased answers
B. fairly written answers
C. information based on teacher’s performance
D. well thought out judgments