3,The risks associated with corporate bonds depend entirely on the ______company. Bonds from extremely unstable companies are called junk bonds and are very risky because they have a high risk of default
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相关试题
- 1.Which of the following bonds would have the highest default risk? 选项： A: municipal bonds B: investment-grade bonds C: U.S. Treasury bonds D: junk bonds
- 2.Bonds with no default risk are called选项： A:no-risk bonds; B:flower bonds; C:default-free bonds; D:zero-risk bonds
- 3.UK government bonds pay less interest than corporate bonds issued by UK companies because the government bonds carry less credit risk.（） 选项：A、是 B、否
- 4.The spread between the interest rates on bonds with default risk and default-free bonds is called the risk premium.
- 5.【判断题】The spread between the interest rates on bonds with default risk and default-free bonds is called the risk premium.
- 6.Life insurance companies have risks on both sides of their balance sheets: market and credit risks on the asset side along with longevity and mortality risks on the liability side. What are the most popular investments for life insurance companies to manage risk? 选项： A:Equities B:Treasury bonds C:Commercial paper D:Long-term corporate bonds
- 7. Municipal bonds in U.S. might lower interest rate than treasury bonds because municipal have lower default-risk.
- 8.Compared to interest rates on long-termU.S.government bonds, interest rates on _____ fluctuate more and are lower on average选项： A:medium-quality corporate bonds; B:low-quality corporate bonds; C:high-quality corporate bonds; D:three-month Treasury bills
- 9.Eurobonds are popular because ________. 选项： A、they are less risky than traditional bonds B、 they are always denominated in euros C、 governments of nations in which they are sold do not regulate them D、 European companies are considered very stable
- 10.Over the past 75 years, we have observed that investments with higher average annual returns also tend to have the highest standard deviations in their annual returns. This observation supports the notion that there is a positive correlation between risk and return. Which of the following lists correctly ranks investments from having the highest returns and risk to those with the lowest returns and risk? （ ）选项： A:Small-company stocks, large-company stocks, long-term corporate bonds, long-term government bonds, U.S. Treasury bills. B:Small-company stocks, long-term corporate bonds, large-company stocks, long-term government bonds, U.S. Treasury bills. C:Large-company stocks, small-company stocks, long-term corporate bonds, U.S. Treasury bills, long-term government bonds. D:U.S. Treasury bills, long-term government bonds, long-term corporate bonds, small-company stocks, large-company stocks. E:Large-company stocks, small-company stocks, long-term corporate bonds, long-term government bonds, U.S. Treasury bills.
- 11. Typically, the interest rate on corporate bonds will be _________ the more restrictions are placed on management through restrictive covenants, because _________. 选项： A、 higher; corporate earnings will be limited by the restrictions B、 higher; the bonds will be considered safer by bondholders C、 lower; the bonds will be considered safer by buyers D、 lower; corporate earnings will be higher with more restrictions in place
- 12.Which of the following statements is NOT the condition for choosing the comparable interest rate for bond valuation? 选项： A:the interest rate should be paid by newly issued bonds; B:Comparable bonds should have the same length of time to maturity; C:Comparable bonds may have the same degree of risk; D:Comparable bonds may have the same coupon
- 13.Which of the following statements about the risks associated with investing in bonds is most accurate（） 选项： A、Corporate debentures are not subject to prepayment risk. B、Liquidity risk is not relevant if the portfolio manager intends to hold the bond to maturity. C、All fixed income securities except short-term Treasury bills are subject to volatility risk to some degree.
- 14.Which one of the following statements concerning bond ratings is correct? 选项： A、Investment grade bonds are rated BB or higher by Standard & Poor's. B、Bond ratings assess both interest rate risk and default risk. C、The highest rating issued by Standard & Poor's is AAA. D、A "fallen angel" is a term applied to all "junk" bonds.
- 15.The interest rate on municipal bonds falls relative to the interest rate on Treasury securities when ______. 选项： A、there is a major default in the municipal bond market. B、corporate bonds become riskier. C、municipal bonds become less widely traded. D、income tax rates are raised.
- 16.Which of the following bonds may have negative convexity: A. Mortgage backed securities. B. High yield bonds. C. All of these choices are correct. D. Callable bonds.
- 17. An investor is currently holding income bonds, preferred stocks, subordinated debentures, and U.S. Treasury bonds. Which of these securities traditionally is considered to have the least risk? 选项： A: Income bonds. B: Preferred stocks. C: Subordinated debentures. D: U.S. Treasury bonds.
- 18.An increase in the liquidity of corporate bonds, other things being equal, shifts the demand curve for corporate bonds to the ________ and the demand curve for Treasury bonds shifts to the ________. 选项： A: right; right B: right; left C: left; left D: left; right
- 19.Bonds secured by a pledge of specific assets are called debenture bonds.
- 20.Interest is exempt from federal income taxation for ___ 选项： A、equipment trust certificates B、zero coupon bonds C、federal bonds such as savings bonds D、state of Florida bonds
- 21. Bonds with a maturity that is longer than the holding period have no interest-rate risk.
- 22.The spread between the interest rates on Baa corporate bonds and U.S. government bonds is very large during the Great Depression years 1930-1933. Explain this difference using the bond supply and demand analysis.
