金融市场学双语题库及答案(第七章)米什金《金融市场与机构》

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金融场学双语题库及答案米什金金融场与机构

Financial Markets and Institutions^ 8e (Mishkin)Chapter 1 Why Study Financial Markets and Institutions?1.1Multiple Choice1)Financial maikets and institutionsA)involve the movement of huge quantities of money.B)affect the profits of businesses.C)affect the types of goods and sendees produced in an economy.D)do all of the above.E)do only A and B of the above.Answer: DTopic: Chapter 1.1 Why Study Fmancial MaiketsQuestion Status: Previous Edition2)Financial maiket activities affectA)peisonal wealth.B)spendmg decisions by individuals and busuiess films.C)the econom^s location in the business cycle.D)all of the above.Answer: DTopic: Chapter 1.1 Why Study Fmancial MaiketsQuestion Status: Previous Edition3)Maikets m which hinds are transfened fiom those who have excess fiinds available to those who have a shortage of available fluids are calledA)conunodity maikets.B)fluids maikets.C)derivative exchange maikets.D)financial maikets.Answer: DTopic: Chapter 1.1 Why Study Fmancial MaiketsQuestion Status: Previous Edition4)The price paid fbr the rental of bonowed fluids (usually expressed as a percentage of the rental of $100 per year) is conunoiily lefened to as theA)inflation rate.B)exchange rate.C)interest rate.D)aggregate price level.Answer: CTopic: Chapter 1.1 Why Study Fmancial MaiketsQuestion Status: Previous Edition5)The bond maikets are impoitant becauseA)they are easily the most widely followed financial maikets m the Umted States.B)they are the maikets where mteiest rates are detemiined.C)they are the maikets where foreign exchange rates are detemimed.D)all of the above.Answer: BTopic: Chapter 1.1 Why Study Fmancial MaiketsQuestion Status: Previous Edition6)hiterest rates are impoilant to financial institutions since an interest rate mcrease the cost of acquumg fiinds and the income from assets.A)decreases; decreasesB)mcieases; increasesC)decreases; incieasesD)increases; decreasesAnswer: BTopic: Chapter 1.1 Why Study Fmancial MaiketsQuestion Status: Previous Edition7)Typically, increasing mteiest ratesA)discourages individuals fiom saving.B)discourages coiporate mvestments.C)encourages corporate expansion.D)encourages corporate bonowing.E)none of the above.Answer: BTopic: Chapter 1.1 Why Study Fmancial MaiketsQuestion Status: Previous Edition8)Compaied to mteiest rates on long-term U.S. govenmient bonds, interest rates on fluctuate more and are lower on average.A)medium-quality coiporate bondsB)low-quality coiporate bondsC)lugh-quality coiporate bondsD)tluee-montli Treasuiy billsE)none of the aboveAnswer: DTopic: Chapter 1.1 Why Study Fmancial MaiketsQuestion Status: Previous Edition9)Compaied to mterest rates on long-term U.S. govenmient bonds, interest rates on tluee-month Treasury bills fluctuate and are on average.A)more; lowerB)less; lowerC)more; lugherD)less; higherAnswer: ATopic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition10)The stock maiket is important becauseA)it is where interest rates are determined.B)it is the most widely followed financial maiket in the United States.C)it is where foreign exchange rates are deteimined.D)all of the above.Answer: BTopic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition11)Stock prices smce the 1980s have beenA)relatively stable, trending upward at a steady pace.B)relatively stable, tiending downward at a moderate rate.C)extiemely volatile.D)unstable, trendmg downwaid at a moderate rate.Answer: CTopic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition12)The largest one-day drop m the histoiy of the Aineiican stock markets occuned in A) 1929.B)1987.C)2000.D)2001.Answer: BTopic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition13) A declining stock market index due to lower share pricesA)reduces people's wealth and as a result may reduce then willingness to spend.B)mcieases people's wealth and as a result may increase their willmgness to spend.C)decreases the amount of hinds that business films can raise by sellmg newly issued stock.D)both A and C of the above.E)both B and C of the above.Answer: DTopic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition14)Changes m stock pricesA)affect people's wealth and their willmgness to spend.B)affect films' decisions to sell stock to finance investment spending.C)are chaiacteiized by considerable fluctuations.D)all of the above.E)only A and B of the above.Answer: DTopic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition15)(I) Debt maikets are often refened to genencally as the bond maiket.(II) A bond is a security that is a claim on the earnings and assets of a corporation.A)(I) is tine, (II) false.B)(I) is false, (II) tine.C)Both are tme.D)Both are false.Answer: ATopic: Chapter 1.1 Why Study Fmancial MaiketsQuestion Status: Previous Edition16) (I) A bond is a debt secunty that pionuses to make payments peiiodically for a specified penod of tune. (II) A stock is a secunty that is a claim on the eanimgs and assets of a coipoiation.A)(I) is true, (II) false.B)(I) is false, (II) tine.C)Both are tme.D)Both are false.Answer: CTopic: Chapter 1.1 Why Study Fmancial MaiketsQuestion Status: Previous Edition17)The piice of one country's cunency in terms of anothei J s is calledA)the foreign exchange rate.B)the interest rate.C)the Dow Jones mdustrial average.D)none of the above.Answer: ATopic: Chapter 1.1 Why Study Fmancial MaiketsQuestion Status: Previous Edition18) A stronger dollar benefits and hints.A)Aineiican busuiesses; Aineiican consumeisB)Aineiican busmesses; foreign businessesC)Aineiican consumeis; Aineiican busmessesD)foreign businesses; Ameiican consumeisAnswer: CTopic: Chaptei 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition19) A weaker dollar benefits and hurts.A)Aineiican busmesses; Aineiican consumeisB)Aineiican busmesses; foieign consumersC)Aineiican consumeis; Aineiican busmessesD)foreign businesses; Ameiican consumersAnswer: ATopic: Chaptei 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition20)From 1980 to early 1985 the dollar in value, thereby benefitingAinencan.A)appreciated; businessesB)appreciated; consumersC)depreciated; businessesD)depreciated; consumersAnswer: BTopic: Chaptei 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition21)hi generaL fiom 2001 tluough 2013, the dollar m value relative tomajor foreign cuuencies.A)appreciatedB)depreciatedC)lemained about the sameAnswer: BTopic: Chaptei 1.1 Why Study Fmancial MarketsQuestion Status: New Question22)Money is defined asA)anythmg that is geneially accepted in payment fbr goods and sendees or in the repayment of debt.B)bills of exchange.C) a nskless repositoiy of spending power.D)all of the above.E)only A and B of the above.Answer: ATopic: Chaptei 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition23)The organization responsible fbf the conduct of monetaiy policy in the United States is theA)Comptioller of the Currency.B)U.S. Treasuiy.C)Federal Reserve System.D)Bureau of Monetaiy Affaus.Answer: CTopic: Chaptei 1.2 Why Study Fmancial InstitutionsQuestion Status: Previous Edition24)The central bank of the United States isA)Citicoip.B)The Fed.C)Bank of America.D)The Tieasuiy.E)none of the above.Answer: BTopic: Chaptei 1.2 Why Study Fmancial InstitutionsQuestion Status: Previous Edition25)Monetaiy policy is cluefly concerned withA)how much money businesses earn.B)the level of mterest rates and the nation's money supply.C)how much money people pay in taxes.D)whether people have saved enough money for letnement.Answer: BTopic: Chaptei 1.2 Why Study Fmancial InstitutionsQuestion Status: Previous Edition26)Econonusts group conuneicial banks, savings and loan associations, credit unions, mutual ftinds, mutual savings banks, msuiance companies, pension fiinds, and finance companies together under the heading financial inteniiedianes. Financial mtermedianes A)act as middlemen, bonowmg ftinds fiom those who have saved and lending these fluids to others.B)produce nothing of value and are therefore a drain on society's resoui ces.C)help promote a more efficient and dynamic economy.D)do all of the above.E)do only A and C of the above.Answer: ETopic: Chaptei 1.2 Why Study Fmancial InstitutionsQuestion Status: Previous Edition27)Econonusts group conuneicial banks, savings and loan associations, credit unions, mutual fiinds, mutual savings banks, msuiance companies, pension fiinds, and finance companies together under the heading financial inteimedianes. Financial mtermedianesA)act as middlemen, bonowmg fiinds fiom those who have saved and lending these fimds to others.B)play an important role in detemmuiig the quantity of money m the economy.C)help promote a more efficient and dynanuc economy.D)do all of the above.E)do only A and C of the above.Answer: DTopic: Chapter 1.2 Why Study Fmancial InstitutionsQuestion Status: Previous Edition28)Banks are unpoitant to the study of money and the economy because they A) provide a chaimel for Imkrng those who want to save with those who want to mvest.B)have been a source of financial nmovation that is expandmg the alternatives available to those wanting to mvest then money.C)are the only financial mstitution to play a role in detemuiHiig the quantity of money in the economy.D)do all of the above.E)do only A and B of the above.Answer: ETopic: Chapter 1.2 Why Study Fmancial InstitutionsQuestion Status: Previous Edition29)Banks, savings and loan associations, mutual savings banks, and credit unions A) are no longer unportant players in financial intemiediation.B)have been providing services only to small depositors since deregulation.C)have been adept at iimovating in response to changes in the regulatoiy envuomnent.D)all of the above.E)only A and C of the above.Answer: CTopic: Chapter 1.2 Why Study Fmancial InstitutionsQuestion Status: Previous Edition30)(I) Banks are financial intennediaiies that accept deposits and make loans.(II) The tenn n baiiks n includes films such as commercial banks, savmgs and loan associations, mutual savings banks, credit unions, msuiance companies, and pensionfluids.A)(I) is true, QI) false.B)(I) is false, (II) tine.C)Both are tme.D)Both are false.Answer: ATopic: Chapter 1.2 Why Study Fmancial InstitutionsQuestion Status: Previous Edition31)was the stock market^ worst one-day chop in histoiy in the 1980s.A)Black FridayB)Black MondayC)Blackout DayD)none of the aboveAnswer: BTopic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition32)The largest financial intennedianes areA)insuiance companies.B)finance compames.C)banks.D)all of the above.Answer: CTopic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition33)hi recent yearsA)interest rates have lemained constant.B)the success of financial institutions has leached levels unpiecedented smce the Great Depiession.C)stock markets have crashed.D)all of the above.Answer: CTopic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition34) A securityA)is a claun oi puce of propeity that is subject to ownership.B)piomises that payments will be made penodically fbr a specified penod of time.C)is the piice paid fbr the usage of ftinds.D)is a claun on the issuers fiituie mcome.Answer: DTopic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition35)are an example of a financial institution.A)BanksB)hisuiance companiesC)Fmance companiesD)All of the aboveAnswer: DTopic: Chapter 1.2 Why Study Fmancial InstitutionsQuestion Status: Previous Edition36)Monetaiy policy affectsA)interest rates.B)mflation.C)business cycles.D)all of the above.Answer: DTopic: Chapter 1.2 Why Study Fmancial InstitutionsQuestion Status: Previous Edition37) A using stock market index due to higher share pricesA)increases people's wealth and as a result may increase their willmgness to spend.B)uicieases the amount of fluids that business firms can raise by selling newly issued stock.C)decreases the amount of hinds that business films can raise by selling newly issued stock.D)both A and B of the above.Answer: DTopic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition38)From the peak of the high-tech bubble in 2000, the stock market byovei by late 2002.A)collapsed; 75%B)rose; 35%C)collapsed; 30%D)rose; 50%Answer: CTopic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition39)The Dow fell below 7,000 m 2009, only to start a bull market run, reaching new highs above m 2013.A)12,000B)10,000C) 15,000D) 19,000Answer: CTopic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: New Question1.2 Tme/False1)Money is anything accepted by anyone as payment fbr services or goods.Answer: TRUETopic: Chapter 1.2 Why Study Fmancial InstitutionsQuestion Status: Previous Edition2)hiterest rates are determined in the bond markets.Answer: TRUETopic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition3) A stock is a debt secuiity that promises to make penodic payments fbr a specific period of time.Answer: FALSETopic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition4)Monetaiy policy affects interest rates but has little effect on inflation oi busmess cycles.JAnswer: FALSETopic: Chapter 1.2 Why Study Fmancial InstitutionsQuestion Status: Previous Edition5)The govenunent orgamzation lesponsible for the conduct of monetaiy policy m the United States is the U.S. Treasuiy.Answer: FALSETopic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition6)hiterest rates can be accuiately described as the rental price of money.Answer: TRUETopic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition7)Holding eveiytliuig else constant, as the dollar weakens vacations abroad become less attractive.Answer: TRUETopic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition8)In recent years, financial markets have become more stable and less risky. Answer: FALSETopic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition9)Financial innovation lias provided more options to both mvestors and bonowers. Answer: TRUETopic: Chaptei 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition10) A financial mtennediaiy borrows fiinds fiom people who have saved.Answer: TRUETopic: Chaptei 1.2 Why Study Fmancial InstitutionsQuestion Status: Previous Edition11)Holding eveiything else constant, as the dollar strengthens fbieigneis will buy more U.S. exports.Answer: FALSETopic: Chaptei 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition12)In a bull market stock prices are rising, on average.Answer: TRUETopic: Chaptei 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition13)Financial institutions are among the largest employers m the country and fiequently pay very high salaries.Answer: TRUETopic: Chaptei 1.3 Applied Managerial PerspectiveQuestion Status: Previous Edition14)Different interest rates have a tendency to move in unison.Answer: TRUETopic: Chaptei 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition15)Financial markets are what makes financial mstitutions work.Answer: FALSETopic: Chaptei 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition16)In recent years, financial markets have become more iisky. However, only a linuted number of tools (such as deiivatives) are available to assist in managing this lisk. Answer: FALSETopic: Chaptei 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition17)Although the internet has changed many aspects of oui lives, it hasn't proven veiy usefill for collectmg and/oi analyzmg financial and econonuc data.Answer: FALSETopic: Chapter 1.4 How We Study Fmancial Markets and InstitutionsQuestion Status: New Question1.3 Essay1)Have inteiest rates been more or less volatile m recent years? Why?Topic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition2)Why should consumers be concerned with movements in foreign exchange rates?Topic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition3)How does the value of the dollar affect the competitiveness of Aineiican busmesses? Topic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition4)What is monetaiy policy and who is responsible fbi its implementation?Topic: Chapter 1.2 Why Study Fmancial InstitutionsQuestion Status: Previous Edition5)What are financial intennediaiies and what do they do?Topic: Chapter 1.2 Why Study Fmancial InstitutionsQuestion Status: Previous Edition6)What is money?Topic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition7)How does a bond differ fiom a stock?Topic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition8)Why is the stock market so important to individuals, films, and the economy? Topic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition9)What is the cential bank and what does it do?Topic: Chapter 1.2 Why Study Fmancial InstitutionsQuestion Status: Previous Edition10)If you are plaiming a vacation to Europe, do you prefer a strong dollar or weak dollar relative to the euio? Why?JTopic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: Previous Edition11)How has the stock market peifbimed smce 2000?Topic: Chapter 1.1 Why Study Fmancial MarketsQuestion Status: New Question。

金融市场学及答案（题库）

金融市场学及答案（题库）一、单项选择题1.金融市场交易的对象是（）A.资本B金融资产 C.劳动力 D.土地与房屋2.金融市场各种运行机制中最主要的是（）A.发行机制B.交易机制C.价格机制D.监督机制3.企业通过发行债券和股票等筹集资金主要体现的是金融市场的（）A．聚敛功能 B.配置功能 C.调节功能 D.反映功能4.非居民间从事国际金融交易的市场是（）A.到岸金融市场B.离岸金融市场C.非居民金融市场D.金融黑市5.同业拆借资金的期限一般为（）天天 C . 3个月 D. 2年6.一市政债券息票率%，以面值出售；一纳税人的应税等级为34%，该债券所提供的应税等价收益为（）A. % 最能准确概况欧洲美元特点的是（）A.存在欧洲银行的美元B.存在美国的外国银行分行的美元C.存在外国银行和在美国国土外的美国银行的美元D.存在美国的美国银行的美元8.短期市政债券当期收益率为4%，而同类应税债券的当期收益率为5%。

投资者的税收等级分别为以下数值时，能给予投资者更高税后收益的是（）% % %9.最早发行大额可转让定期存单是（）A 汇丰银行B 中国银行C 花旗银行D 巴林银行10.国库券和BAA级公司债券收益率差距会变大的情形（）A 利率降低B 经济不稳定C 信用下降D 以上均可11.以折价方式卖出债券的情形是（）A 债券息票率大于当期收益率，也大于债券的到期收益率B债券息票率等于当期收益率，也等于债券的到期收益率C债券息票率小于当期收益率，也小于债券的到期收益率D债券息票率小于当期收益率，也大于债券的到期收益率12.一份10 000元面值的10年期国债每半年付息一次，该国债的年息票率6%，投资者在第5年末会收到（）A 300元B 600元C 3 000元D 6 000元13.关于政府机构债券说法不正确的是（）A 以信誉为保证，无需抵押品B 债券由中央银行作后盾C 债券的收支偿付列入政府的预算D 财政部和一些政府机构可发行14.最适合被证券化的是（）A 企业的信用贷款B 一般的房地产抵押贷款C 住房抵押贷款D 企业的担保贷款15.一家公司的销售额和利润都快速地增长，且其速度要远远快于整个国家以及其所在的行业的发展速度，那么这家公司发行的股票属于（）A 蓝筹股B 投机股C 成长股D 收入股16.在本国募集资金并投资于本国证券市场的证券投资基金是指（）A 在岸基金B 离岸基金C 伞形基金D 保本基金17.我国封闭式基金上市要求基金份额持有人不少于（）A 200B 500C 1 000D 2 00018.在风险调整测度指标中，用市场组合的长期平均超额收益除以该时期的标准差的是（）A 夏普测度B 特雷纳测度C 詹森指数D M2测度19.期权购买者只能在期权到期日那一天行使权利，既不能提前也不能推迟的期权是（）A 欧式期权B 现货期权C 期货期权D 美式期权20.标的的资产市价高于协议价格时的看涨期权称为（）A 虚值期权B 场内期权C 实值期权D 场外期权21.某人某日用美元在买进50万欧元，5天后再平仓，其获利为（）A 7 000美元B 7 250美元C 6 275美元D 6 750美元22.关于利率对汇率变动的影响，表述正确的是（）A内利率上升，则本国汇率上升B 国内利率下降，则本国利率下降C 需比较国内外的利率和通货膨胀率后确定D 利率对汇率的影响是长期的23.下面表述正确的是（）A 在直接标价法和间接标价法下，升水和贴水的含义恰恰相反B 远期外汇的买卖价之差总是大于即期外汇的买卖价之差C 买入价和卖出价是同一笔外汇交易中买卖双方所使用的价格D 在直接标价法下，汇率上升意味着本币升值24.现代货币制度下，可能使一国的汇率上升的原因有（）A 政府宣布减少税收B 银行利率下降C 物价下降D 放宽对进口的限制25.弹性货币分析法强调对汇市产生影响的市场有（）A 保险市场B 商品市场C 货币市场D 证券市场26.下列有关利率期限结构的说法正确的是（）A.预期假说认为，如果预期将来短期利率高于目前的短期利率，收益率曲线就是水平的B.预期假说认为，长期利率等于预期短期利率C.流动性偏好假说认为，在其他条件相同的情况下，期限越长，收益率越低D.流动性偏好假说认为，不同的借款人和贷款人对收益率曲线的不同区段有不同的偏好27.假定名义年利率为10%，每年复利两次，那么，有效（年）利率为（）% % 根据凯恩斯流动性偏好理论，与利率相关的是（）A.交易动机B.预防动机 B.投机动机 D.以上都不对29.名义利率是8%，通货膨胀率为10%。

金融市场学双语题库及答案(第十七章)米什金《金融市场与机构》

D) only A and B of the above.
E) only A and C of the above.
Answer: D
Topic: Chapter 17.1 The Bank Balance Sheet
Question Status: Previous Edition
Topic: Chapter 17.1 The Bank Balance Sheet
Question Status: Previous Edition
4) A bank's balance sheet
A) shows that total assets equal total liabilities plus equity capital.
6) Which of the following are reported as liabilities on a bank's balance sheet?
A) Discount loans
B) Cash items in the process of collection
C) State governme来自t securitiesFinancial Markets and Institutions, 8e(Mishkin)
Chapter 17 Banking and the Management of Financial Institutions
17.1 Multiple Choice
1) Which of the following statements is true?
A) A bank's assets are its sources of funds.
B) A bank's liabilities are its uses of funds.

金融市场学双语题库及答案(第一章)米什金金融市场与机构

Financial Markets and Institutions^ 8e (Mishkin)Chapter 1 Why Study Financial Markets and Institutions?1.1 Multiple Choice1)Financial markets and institutionsA)involve the movement of huge quantities of money.B)affect the profits of businesses.C)affect the types of goods and seivices produced ill an economy.D)do all of the above.E)do only A and B of the above.Answer: DTopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition2)Financial market activities affectA)personal wealth.B)spending decisions by individuals and business firms.C)the economy's location in the business cycle.D)all of the above.Answer: DTopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition3)Markets in wliich funds are tiansfeired from those who have excess funds available to those who have a shortage of available funds are calledA)commodity markets.B)funds markets.C)derivative exchange markets.D)financial markets.Answer: DTopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition4)The price paid for the rental of bonowed funds (usually expressed as a percentage of the rental of $100 per year) is conmionly referred to as theA)inflation rate.B)exchange late.C)interest rate.D)aggiegate price level.Answer: CTopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition5)The bond maikets are impoitant becauseA)they are easily the most widely followed financial markets in the United States.B)they are the maikets where interest rates are deteimined.C)they are the markets where foreign exchange rates are determined.D)all of the above.Answer: BTopic: Chapter 1.1 Why Study Financial MaiketsQuestion Status: Previous Edition6)Interest rates are impoitant to financial institutions since an interest rate uicrease the cost of acquiring funds and the income fiom assets.A)decreases; decreasesB)increases; increasesC)decreases; increasesD)increases; decreasesAnswer: BTopic: Chapter 1.1 Why Study Financial MaiketsQuestion Status: Previous Edition7)Typically, increasing interest ratesA)discourages individuals fiom saving.B)discourages corporate investments.C)encourages coipoiate expansion.D)encourages coipoiate borrowing.E)none of the above.Answer: BTopic: Chapter 1.1 Why Study Financial MaiketsQuestion Status: Previous Edition8)Compared to interest rates on long-tenn U.S. govenmient bonds, interest rates onfluctuate more and are lower on average.A)medium-quality coipoiate bondsB)low-quality corporate bondsC)high-quality coipoiate bondsD)tluee-month Treasuiy billsE)none of the aboveAnswer: DTopic: Chapter 1.1 Why Study Financial MaiketsQuestion Status: Previous Edition9)Compared to interest rates on long-tenn U.S. govenmient bonds, interest rates on tluee-month Tieasuiy bills fluctuate and are on average.A)moie; lowerB)less; lowerC)moie; liigherD)less; higherAnswer: ATopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition10)The stock market is important becauseA)it is where interest rates are determined.B)it is the most widely followed financial market in the United States.C)it is where foreign exchange rates are deteimined.D)all of the above.Answer: BTopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition11)Stock prices since the 1980s have beenA)relatively stable, trending upward at a steady pace.B)relatively stable, tiending downward at a moderate rate.C)extremely volatile.D)unstable, trending downward at a moderate late.Answer: CTopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition12)The largest one-day drop in the liistoiy of the Ainei ican stock markets occuii ed inA)1929.B)1987.C)2000.D)2001.Answer: BTopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition13) A declining stock market index due to lower share pricesA)reduces people's wealth and as a result may reduce theii willingness to spend.B)increases people's wealth and as a result may increase their willingness to spend.C)decreases the amount of fiinds that business firms can raise by selling newly issued stock.D)both A and C of the above.E)both B and C of the above.Answer: DTopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition14)Changes in stock pricesA)affect people's wealth and their willingness to spend.B)affect films' decisions to sell stock to finance investment spending.C)are characterized by considerable fluctuations.D)all of the above.E)only A and B of the above.Answer: DTopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition15)(I) Debt markets are often referred to generically as the bond market.(II) A bond is a security that is a claim on the earnings and assets of a coiporation.A)(I) is true, (II) false.B)(I) is false, (II) true.C)Both are true.D)Both are false.Answer: ATopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition16)(I) A bond is a debt security that promises to make paymen's periodically fbr a specified peiiod of time. (II) A stock is a security that is a claim on the earnings and assets of a corporation.A)(I) is true, (II) false.B)(I) is false, (II) true.C)Both are true.D)Both are false.Answer: CTopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition17)The price of one countiy's currency in terms of another's is calledA)the foreign exchange rate.B)the interest rate.C)the Dow Jones industrial average.D)none of the above.Answer: ATopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition18) A stronger dollar benefits and hurts .A)American businesses; American consumersB)American businesses; foreign businessesC)American consumers; American businessesD)foreign businesses; American consumersAnswer: CTopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition19) A weaker dollar benefits and hurts .A)American businesses; American consumersB)American businesses; foreign consumersC)American consumers; American businessesD)foreign businesses; American consumersAnswer: ATopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition20)From 1980 to early 1985 the dollar in value, thereby benefiting American.A)appreciated; businessesB)appreciated; consumeisC)depreciated; businessesD)depreciated; consumersAnswer: BTopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition21)In general, from 2001 tluougli 2013, the dollar in value relative to major foreign cunencies.A)appreciatedB)depreciatedC)remained about the sameAnswer: BTopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: New Question22)Money is defined asA)anything that is generally accepted in payment for goods and seivices or in the repayment of debt.B)bills of exchange.C) a riskless repositoiy of spending power.D)all of the above.E)only A and B of the above.Answer: ATopic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition23)The organization responsible foi the conduct of monetary policy in the United States is theA)Compti oiler of the Currency.B)U.S. Tieasuiy.C)Federal Reserve System.D)Bureau of Monetaiy Affairs.Answer: CTopic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition24)The central bank of the United States isA)Citicoip.B)The Fed.C)Bank of America.D)The Tieasuiy.E)none of the above.Answer: BTopic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition25)Monetaiy policy is chiefly conceined withA)how much money businesses earn.B)the level of interest rates and the nation's money supply.C)how much money people pay in taxes.D)whether people have saved enough money fbr letiiement.Answer: BTopic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition26)Economists gioup commercial banks, savings and loan associations, credit unions, mutual funds, mutual savings banks, insurance companies, pension funds, and finance companies together under the heading financial intermediaiies. Financial intermediaiies A)act as middlemen, borrowing funds fiom those who have saved and lending these funds to others.B)produce notliing of value and are therefore a drain on society's resources.C)help piomote a more efficient and dynamic economy.D)do all of the above.E)do only A and C of the above.Answer: ETopic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition27)Economists gioup commercial banks, savings and loan associations, credit unions, mutual funds, mutual savings banks, insurance companies, pension funds, and finance companies together under the heading financial intermediaiies. Financial intermediariesA)act as middlemen, borrowing funds fiom those who have saved and lending these funds to others.B)play an impoilant role in determining the quantity of money in the economy.C)help promote a more efficient and dynamic economy.D)do all of the above.E)do only A and C of the above.Answer: DTopic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition28)Banks are important to the study of money and the economy because theyA)provide a channel for linking those who want to save with those who want to invest.B)have been a source of financial innovation that is expanding the alternatives available to those wanting to invest theii money.C)are the only financial institution to play a role in determining tlie quantity of money in the economy.D)do all of the above.E)do only A and B of the above.Answer: ETopic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition29)Banks, savings and loan associations, mutual savings banks, and credit unionsA)are no longer inipoitant players ill financial inteimediation.B)have been providing seivices only to small depositors since deregulation.C)have been adept at innovating in response to changes in the regulatoiy environment.D)all of the above.E)only A and C of the above.Answer: CTopic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition30)(I) Banks are financial inteimediaries that accept deposits and make loans.(II) The tenn "banks" includes firms such as commercial banks, savings and loan associations, mutual savings banks, credit unions, insurance companies, and pension funds.A)(I) is true, (II) false.B)(I) is false, (II) true.C)Both are true.D) Both are false.Answer: ATopic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous EditionA)Black FridayB)Black MondayC)Blackout DayD)none of the aboveAnswer: BTopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition32)The largest financial intennediaiies areA)insurance companies.B)finance companies.C)banks.D)all of the above.Answer: CTopic: Chapter 1.2 Why Study Financial ListitutionsQuestion Status: Previous Edition33)In recent yearsA)interest rates have remained constant.B)the success of financial institutions has reached levels unpiecedented since the Great Depiession.C)stock markets have crashed.D)all of the above.Answer: CTopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition34) A securityA)is a claim oi price of property that is subject to ownei sliip.B)promises that payments will be made peiiodically fbr a specified peiiod of time.C)is the price paid fbr the usage of funds.D)is a claim on the issuers future income.Answer: DTopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous EditionA)BanksB)Insurance companiesC)Finance companiesD)All of the aboveAnswer: DTopic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition36)Monetaiy policy affectsA)interest rates.B)inflation.C)business cycles.D)all of the above.Answer: DTopic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition37) A rising stock market index due to higher share pricesA)incieases people's wealth and as a result may inciease their willingness to spend.B)increases the amount of funds that business films can raise by selling newly issued stock.C)decreases the amount of fiinds that business firms can raise by selling newly issued stock.D)both A and B of the above.Answer: DTopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition38)From the peak of the high-tech bubble in 2000, the stock market by overby late 2002.A)collapsed; 75%B)rose; 35%C)collapsed; 30%D)rose; 50%Answer: CTopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition39)The Dow fell below 7,000 in 2009, only to stall a bull market inn, reaching new highs above in 2013.A)12,000B)10,000C)15,000D)19,000Answer: CTopic: Chapter 1.1 Why Study Financial Markets Question Status: New Question1.2 Tme/False1)Money is anything accepted by anyone as payment for sendees or goods.Answer: TRUETopic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition2)Interest rates are determined in the bond markets.Answer: TRUETopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition3) A stock is a debt security that promises to make periodic payments fbr a specific period of time.Answer: FALSETopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition4)Monetaiy policy affects interest rates but has little effect on inflation or business cycles. Answer: FALSETopic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition5)The govenunent organization responsible fbr the conduct of monetaiy policy in the United States is the U.S. Treasury.Answer: FALSETopic: Chapter 1.2 Why Study Financial ListitutionsQuestion Status: Previous Edition6)Interest rates can be accurately described as the rental price of money.Answer: TRUETopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition7)Holding eveiytliiiig else constant, as the dollar weakens vacations abroad become less attractive.Answer: TRUETopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition8)In recent years, financial markets have become more stable and less risky. Answer: FALSETopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition9)Financial innovation has provided moie options to both investors and borrowers. Answer: TRUETopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition10) A financial inteimediaiy bonows funds fiom people who have saved.Answer: TRUETopic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition11)Holding everything else constant, as the dollar stiengtliens fbreigiieis will buy more U.S. exports.Answer: FALSETopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition12)In a bull market stock prices are rising, on average.Answer: TRUETopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition13)Financial institutions are among the largest employers in the countiy and frequently pay very high salaries.Answer: TRUETopic: Chapter 1.3 Applied Managerial PerspectiveQuestion Status: Previous Edition14)Different interest rates have a tendency to move in unison.Answer: TRUETopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition15)Financial markets are what makes financial institutions work.Answer: FALSETopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition16)In recent years, financial markets have become more risky. However, only a limited number of tools (such as derivatives) are available to assist in managing this risk. Answer: FALSETopic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition17)Although the internet lias changed many aspects of our lives, it hasn't proven very useful for collecting and/or analyzing financial and economic data.Answer: FALSETopic: Chapter 1.4 How We Study Financial Markets and Institutions Question Status: New Question1.3 Essay1)Have interest rates been more or less volatile in recent years? Why?Topic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition2)Why should consumers be concerned with movements in fbreign exchange rates? Topic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition3)How does the value of the dollar affect the competitiveness of American businesses? Topic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition4)What is monetary policy and who is responsible fbr its implementation?Topic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition5)What are financial intermediaiies and what do they do?Topic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition6)What is money?Topic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition7)How does a bond differ fiom a stock?Topic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition8)Why is the stock market so important to individuals, films, and the economy? Topic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition9)What is the cential bank and what does it do?Topic: Chapter 1.2 Why Study Financial InstitutionsQuestion Status: Previous Edition10)If you are plamiing a vacation to Europe, do you prefer a strong dollar 01 weak dollar relative to the euio? Why?Topic: Chapter 1.1 Why Study Financial MarketsQuestion Status: Previous Edition11)How has the stock market perfoimed since 2000?Topic: Chapter 1.1 Why Study Financial MarketsQuestion Status: New Question。

金融市场学双语题库及答案(第二十章)米什金《金融市场与机构》

Financial Markets and Institutions, 8e (Mishkin)Chapter 20 The Mutual Fund Industry20.1 Multiple Choice1) At the beginning of 2013, mutual funds held about ________ of the U.S. stock market was held by mutual funds.A) 30%B) 50%C) 10%D) 70%Answer: ATopic: Chapter 20.1 The Growth of Mutual FundsQuestion Status: Updated from Previous Edition2) The origins of mutual funds can be traced back to the mid to late 1800s in________.A) England and ScotlandB) New York CityC) BostonD) GermanyAnswer: ATopic: Chapter 20.1 The Growth of Mutual FundsQuestion Status: New Question3) ________ intermediation means that small investors can pool their funds with other investors to purchase high face value securities.A) LiquidityB) FinancialC) DenominationD) ShareAnswer: CTopic: Chapter 20.2 Benefits of Mutual FundsQuestion Status: Previous Edition4) Mutual funds offer investors all of the following exceptA) greater-than-average returns.B) diversified portfolios.C) lower transaction costs.D) professional investment management.Answer: ATopic: Chapter 20.2 Benefits of Mutual FundsQuestion Status: Previous Edition5) Mutual fundsA) pool the resources of many small investors by selling these investors shares and using the proceeds to buy securities.B) allow small investors to obtain the benefits of lower transaction costs in purchasing securities.C) provide small investors a diversified portfolio that reduces risk.D) do all of the above.E) do only A and B of the above.Answer: DTopic: Chapter 20.2 Benefits of Mutual FundsQuestion Status: Previous Edition6) ________ enables mutual funds to consistently outperform a randomly selected group of stocks.A) Managerial expertiseB) DiversificationC) Denomination intermediationD) None of the aboveAnswer: DTopic: Chapter 20.2 Benefits of Mutual FundsQuestion Status: Previous Edition7) At the end of 2012 there were over ________ separate mutual funds with total assets over ________.A) 800; $10 trillionB) 7,500; $13 trillionC) 10,000; $10 trillionD) 1,000; $7 trillionAnswer: BTopic: Chapter 20.2 Benefits of Mutual FundsQuestion Status: Updated from Previous Edition8) Most mutual funds are structured in two ways. The most common structure is a(n) ________ fund, from which shares can be redeemed at any time at a price that is tied to the asset value of the fund. A(n) ________ fund has a fixed number of nonredeemable shares that are traded in the over-the-counter market.A) closed-end; open-endB) open-end; closed-endC) no-load; closed-endD) no-load; loadE) load; no-loadAnswer: BTopic: Chapter 20.3 Mutual Fund StructureQuestion Status: Previous Edition9) Which of the following is an advantage to investors of an open-end mutual fund?A) Once all the shares have been sold, the investor does not have to put in more money.B) The investors can sell their shares in the over-the-counter market with low transaction fees.C) The fund agrees to redeem shares at any time.D) The market value of the fund's shares may be higher than the value of the assets held by the fund.Answer: CTopic: Chapter 20.3 Mutual Fund StructureQuestion Status: Previous Edition10) The net asset value of a mutual fund isA) determined by subtracting the fund's liabilities from its assets and dividing by the number of shares outstanding.B) determined by calculating the net price of the assets owned by the fund.C) calculated every 15 minutes and used for transactions occurring during the next 15-minute interval.D) calculated as the difference between the fund's assets and its liabilities. Answer: ATopic: Chapter 20.3 Mutual Fund StructureQuestion Status: Previous Edition11) ________ funds are the simplest type of investment funds to manage.A) BalancedB) Global equityC) GrowthD) IndexAnswer: DTopic: Chapter 20.4 Investment Objective ClassesQuestion Status: Previous Edition12) The majority of mutual fund assets are now owned byA) individual investors.B) institutional investors.C) fiduciaries.D) business organizations.E) retirees.Answer: ATopic: Chapter 20.2 Benefits of Mutual FundsQuestion Status: Previous Edition13) Capital appreciation funds select stocks of ________ and tend to be ________ risky than total return funds.A) large, established companies that pay dividends regularly; moreB) large, established companies that pay dividends regularly; lessC) companies expected to grow rapidly; moreD) companies expected to grow rapidly; lessAnswer: CTopic: Chapter 20.4 Investment Objective ClassesQuestion Status: Previous Edition14) From largest to smallest in terms of total assets, the four classes of mutual funds areA) equity funds, bond funds, hybrid funds, money market funds.B) equity funds, money market funds, bond funds, hybrid funds.C) money market funds, equity funds, hybrid funds, bond funds.D) bond funds, money market funds, equity funds, hybrid funds.Answer: BTopic: Chapter 20.4 Investment Objective ClassesQuestion Status: Previous Edition15) Measured by assets, the most popular type of bond fund is the ________ bond fund.A) state municipalB) strategic incomeC) governmentD) high-yieldAnswer: BTopic: Chapter 20.4 Investment Objective ClassesQuestion Status: Previous Edition16) People who take their money out of insured bank deposits to invest in uninsured money market mutual funds have ________ risk because money market funds invest in ________ assets.A) high; long-termB) low; short-termC) high; short-termD) low; long-termAnswer: BTopic: Chapter 20.4 Investment Objective ClassesQuestion Status: Previous Edition17) The largest share of assets held by money market mutual funds isA) Treasury bills.B) certificates of deposit.C) commercial paper.D) repurchase agreements.Answer: CTopic: Chapter 20.4 Investment Objective ClassesQuestion Status: Previous Edition18) Which of the following is a feature of index funds?A) They have lower fees.B) They select and hold stocks to match the performance of a stock index.C) They do not require managers to select stocks and decide when to buy and sell.D) All of the above.Answer: DTopic: Chapter 20.4 Investment Objective ClassesQuestion Status: Previous Edition19) A deferred-load mutual fund charges a commissionA) when shares are purchased.B) when shares are sold.C) both when shares are purchased and when they are sold.D) when shares are redeemed.Answer: DTopic: Chapter 20.5 Fee Structure of Investment FundsQuestion Status: Previous Edition20) Over the past twenty years, mutual fund fees have ________, largely because________.A) fallen; SEC fee disclosure rules have led to greater competitionB) risen; investors have learned that funds with high fees provide better performanceC) risen; there has been collusion between large mutual fund companiesD) fallen; advances in information technology have lowered transaction costs Answer: ATopic: Chapter 20.5 Fee Structure of Investment FundsQuestion Status: Previous Edition21) Which of the following is most likely to be a no-load fund?A) Value fundsB) Hedge fundsC) Growth fundsD) Index fundsAnswer: DTopic: Chapter 20.5 Fee Structure of Investment FundsQuestion Status: Previous Edition22) When investors switch between funds within the same fund family, mutual funds may chargeA) a contingent deferred sales charge.B) a redemption fee.C) an exchange fee.D) 12b-1 fees.E) an account maintenance fee.Answer: CTopic: Chapter 20.5 Fee Structure of Investment FundsQuestion Status: Previous Edition23) The Securities Acts of 1933 and 1934 did notA) regulate the activities of investment funds.B) require funds to register with the SEC.C) include antifraud rules covering the purchase and sale of fund shares.D) apply to investment funds.Answer: BTopic: Chapter 20.6 Regulation of Mutual FundsQuestion Status: Previous Edition24) The largest share of total investment in mutual funds is inA) stock funds.B) hybrid funds.C) bond funds.D) money market funds.Answer: ATopic: Chapter 20.4 Investment Objective ClassesQuestion Status: Previous Edition25) Over ________ of the total daily volume in stocks is due to institutions initiating trades.A) 70%B) 50%C) 25%D) 90%Answer: ATopic: Chapter 20.6 Regulation of Mutual FundsQuestion Status: New Question26) Hedge funds areA) low risk because they are market-neutral.B) low risk if they buy Treasury bonds.C) low risk because they hedge their investments.D) high risk because they are market-neutral.E) high risk, even though they may be market-neutral.Answer: ETopic: Chapter 20.7 Hedge FundsQuestion Status: Previous Edition27) The near collapse of Long Term Capital Management was caused byA) the high management fees charged by the fund's two Nobel Prize winners.B) the fund's high leverage ratio of 20 to 1.C) a sharp decrease in the spread between corporate bonds and Treasury bonds.D) a sharp increase in the spread between corporate bonds and Treasury bonds.E) the fund's shift away from a market-neutral investment strategy.Answer: DTopic: Chapter 20.7 Hedge FundsQuestion Status: Previous Edition28) Conflicts arise in the mutual funds industry because ________ cannot effectively monitor ________.A) investment advisers; directorsB) directors; shareholdersC) shareholders; investment advisersD) investment advisers; stocks that will outperform the overall marketAnswer: CTopic: Chapter 20.8 Conflicts of Interest in the Mutual Fund IndustryQuestion Status: Previous Edition29) Late trading is the practice of allowing orders received ________ to trade at the ________ net asset value.A) before 4:00 PM; 4:00 PMB) after 4:00 PM; 4:00 PMC) after 4:00 PM; next day'sD) before 4:00 PM; previous day'sAnswer: BTopic: Chapter 20.8 Conflicts of Interest in the Mutual Fund IndustryQuestion Status: Previous Edition30) Market timingA) takes advantage of time differences between the east and west coasts of the United States.B) takes advantage of arbitrage opportunities in foreign stocks.C) takes advantage of the time lag between the receipt and execution of orders.D) is discouraged by the stiff fees mutual funds charge every investor for buying and then selling shares on the same day.Answer: BTopic: Chapter 20.8 Conflicts of Interest in the Mutual Fund IndustryQuestion Status: Previous Edition31) Late trading and market timingA) allow large, favored investors in a mutual fund to profit at the expense of other investors in the fund.B) hurt ordinary investors by increasing the number of fund shares and diluting the fund's net asset value.C) are both A and B of the above.D) are none of the above.Answer: CTopic: Chapter 20.8 Conflicts of Interest in the Mutual Fund Industry Question Status: Previous Edition32) Which of the following is not a proposal to deal with abuses in the mutual fund industry?A) Strictly enforce the 4:00 PM net asset value rule.B) Make redemption fees mandatory.C) Disclose compensation arrangements for investment advisers.D) Increase the number of dependent directors.Answer: DTopic: Chapter 20.8 Conflicts of Interest in the Mutual Fund IndustryQuestion Status: Previous Edition33) ________ means the investors can convert their investment into cash quickly at a low cost.A) Liquidity intermediationB) Denomination intermediationC) DiversificationD) Managerial expertiseAnswer: ATopic: Chapter 20.2 Benefits of Mutual FundsQuestion Status: Previous Edition34) At the start of 2014, one share of Berkshire Hathaway's A-shares was trading at over $150,000. ________ in an mutual fund gives a small investor access to these shares.A) Liquidity intermediationB) Denomination intermediationC) DiversificationD) Managerial expertiseAnswer: BTopic: Chapter 20.2 Benefits of Mutual FundsQuestion Status: Previous Edition35) Mutual fund companies frequently offer a number of separate mutual funds called ________.A) indexesB) complexesC) componentsD) actuariesAnswer: BTopic: Chapter 20.4 Investment Objective ClassesQuestion Status: Previous Edition36) Equity funds can be placed in which class according to the Investment Company Institute?A) Capital appreciation fundsB) World fundsC) Total return fundsD) All of the aboveAnswer: DTopic: Chapter 20.4 Investment Objective Classes Question Status: Previous Edition37) Government bonds are essentially default risk-free, ________ returns.A) and will yield highB) and will yield the highestC) but will have relatively lowD) none of the aboveAnswer: CTopic: Chapter 20.4 Investment Objective ClassesQuestion Status: Previous Edition38) ________ bonds combine stocks into one fund.A) HybridB) Money marketC) MunicipalD) EquityAnswer: ATopic: Chapter 20.4 Investment Objective ClassesQuestion Status: Previous Edition39) All ________ are open-end investment funds that invest only in money market securities.A) Stock fundsB) Bond fundsC) Money market mutual fundsD) all of the aboveAnswer: CTopic: Chapter 20.4 Investment Objective ClassesQuestion Status: Previous Edition20.2 True/False1) The larger the number of shares traded in a stock transaction, the lower the transaction costs per share.Answer: TRUETopic: Chapter 20.2 Benefits of Mutual FundsQuestion Status: Previous Edition2) The increase in the number of defined contribution pension funds has slowed the growth of mutual funds.Answer: FALSETopic: Chapter 20.1 The Growth of Mutual FundsQuestion Status: Previous Edition3) Mutual funds accounted for $5.3 trillion, or 27%, of the $19.5 trillion U.S. retirement market at the beginning of 2013.Answer: TRUETopic: Chapter 20.2 Benefits of Mutual FundsQuestion Status: Updated from Previous Edition4) Among the investors in mutual funds, only about 25% cite preparing for retirement as one of their main reasons for holding shares.Answer: FALSETopic: Chapter 20.2 Benefits of Mutual FundsQuestion Status: Updated from Previous Edition5) Open-end mutual funds are more common than closed-end funds.Answer: TRUETopic: Chapter 20.3 Mutual Fund StructureQuestion Status: Previous Edition6) The net asset value of a mutual fund is the average market price of the stocks, bonds, and other assets the fund owns.Answer: FALSETopic: Chapter 20.3 Mutual Fund StructureQuestion Status: Previous Edition7) A mutual fund's board of directors picks the securities that will be held and makes buy and sell decisions.Answer: FALSETopic: Chapter 20.4 Investment Objective ClassesQuestion Status: Previous Edition8) Money market mutual funds originated when the brokerage firm Merrill Lynch offered its customers an account from which funds could be taken to purchase securities and into which funds could be deposited when securities were sold. Answer: TRUETopic: Chapter 20.4 Investment Objective ClassesQuestion Status: Previous Edition9) A deferred load is a fee charged when shares in a mutual fund are redeemed. Answer: TRUETopic: Chapter 20.5 Fee Structure of Investment FundsQuestion Status: Previous Edition10) Several academic research studies show that investors earn higher returns by investing in mutual funds that charge higher fees.Answer: FALSETopic: Chapter 20.5 Fee Structure of Investment FundsQuestion Status: Previous Edition11) Hedge funds have a minimum investment requirement of between $100,000 and$20 million, with the typical minimum investment being $1 million.Answer: TRUETopic: Chapter 20.7 Hedge FundsQuestion Status: New Question12) SEC research suggests that about three-fourths of mutual funds let privileged shareholders engage in market timing.Answer: TRUETopic: Chapter 20.8 Conflicts of Interest in the Mutual Fund IndustryQuestion Status: Previous Edition13) One factor explaining the rapid growth in mutual funds is that they are financial intermediaries that are not regulated by the federal government.Answer: FALSETopic: Chapter 20.1 The Growth of Mutual FundsQuestion Status: Previous Edition14) Whether a fund is organized as a closed- or an open-end fund, is will have the same basic organizational structure.Answer: TRUETopic: Chapter 20.3 Mutual Fund StructureQuestion Status: Previous Edition15) The primary purpose of loads is to provide compensation for sales brokers. Answer: TRUETopic: Chapter 20.5 Fee Structure of Investment FundsQuestion Status: Previous Edition16) Mutual funds are regulated under four federal laws designed to protect investors. Answer: TRUETopic: Chapter 20.6 Regulation of Mutual FundsQuestion Status: Previous Edition20.3 Essay1) What benefits do mutual funds offer investors?Topic: Chapter 20.2 Benefits of Mutual FundsQuestion Status: Previous Edition2) How is a mutual fund's net asset value calculated?Topic: Chapter 20.3 Mutual Fund StructureQuestion Status: Previous Edition3) How did money market mutual funds originate and why did they become especially popular in the late 1970s and early 1980s?Topic: Chapter 20.1 The Growth of Mutual FundsQuestion Status: Previous Edition4) How does the governance structure of mutual funds lead to asymmetric information and conflicts of interest?Topic: Chapter 20.8 Conflicts of Interest in the Mutual Fund IndustryQuestion Status: Previous Edition5) Describe the practices of late trading and market timing and explain how these practices harm a mutual fund's shareholders.Topic: Chapter 20.8 Conflicts of Interest in the Mutual Fund IndustryQuestion Status: Previous Edition6) Discuss the proposals that have been made to reduce the conflict of interest abuses in the mutual funds industry.Topic: Chapter 20.8 Conflicts of Interest in the Mutual Fund IndustryQuestion Status: Previous Edition7) How is an index fund different from the other four primary investment objective classes for mutual funds?Topic: Chapter 20.4 Investment Objective ClassesQuestion Status: New Question8) Discuss the four primary classes of mutual funds available to investors.Topic: Chapter 20.4 Investment Objective ClassesQuestion Status: Previous Edition9) What are the five benefits of mutual funds?Topic: Chapter 20.2 Benefits of Mutual FundsQuestion Status: New Question10) What is the difference between an open-end and a closed-end mutual fund? Topic: Chapter 20.3 Mutual Fund StructureQuestion Status: New Question11) What are two key differences between a traditional mutual fund and a hedge fund?Topic: Chapter 20.7 Hedge FundsQuestion Status: New Question。

金融市场学双语题库及答案(第二章)米什金金融市场与机构

D) Both A and C of the above.
Answer: D
Topic: Chapter 2.1 Function of Financial Markets
Question Status: Previous Edition
7) Financial markets improve economic welfare because
Topic: Chapter 2.2 Structure of Financial Markets
Question Status: Previous Edition
13) Which of the following are primary markets?
A) The New York Stock Exchange
Question Status: Previous Edition
14) Which of the following are secondary markets?
A) The New York Stock Exchange
B) The U.S. government bond market
C) The over-the-counter stock market
C) experience economic hardship and financial crises.
D) increase its standard of living.
Answer: C
Topic: Chapter 2.1 Function of Financial Markets
Question Status: Previous Edition
Answer: D
Topic: Chapter 2.1 Function of Financial Markets

(整理)米什金《金融市场与金融机构》课后习题答案

米什金《金融市场与金融机构》课后习题答案
（第五版第六版通用）（1－11章）
（5）法律、行政法规和国务院规定的其他建设项目。
（4）跟踪评ห้องสมุดไป่ตู้的结论。
（二）环境影响经济损益分析的步骤
[答疑编号502334050102]
（4）建设项目环境保护措施及其技术、经济论证。
1.建设项目环境影响评价机构的资质管理
1.规划环境影响评价的技术依据
（1）内涵资产定价法
环境影响评价，是指对规划和建设项目实施后可能造成的环境影响进行分析、预测和评估，提出预防或者减轻不良环境影响的对策和措施，进行跟踪监测的方法和制度。
影响支付意愿的因素有：收入、替代品价格、年龄、教育、个人独特偏好以及对该环境物品的了解程度等。

2024年金融市场基础考题与解答英文版

2024年金融市场基础考题与解答英文版2024 Financial Markets Fundamentals Exam Questions and AnswersIn the financial markets fundamentals exam for 2024, students can expect a range of questions covering various aspects of finance. Here are some sample questions along with their answers:1. What is the role of central banks in the financial markets?- Central banks play a crucial role in the financial markets by regulating the money supply, setting interest rates, and maintaining financial stability.2. Explain the concept of diversification in investment portfolios.- Diversification involves spreading investments across different asset classes to reduce risk exposure and enhance potential returns.3. How do interest rates impact the financial markets?- Changes in interest rates can influence borrowing costs, investment decisions, and overall market sentiment.4. What are the key differences between stocks and bonds?- Stocks represent ownership in a company, while bonds are debt instruments issued by corporations or governments.5. Discuss the impact of inflation on the financial markets.- Inflation erodes purchasing power, leading to higher interest rates and potentially affecting investment returns.6. What is the role of regulatory bodies in overseeing financial markets?- Regulatory bodies enforce rules and regulations to ensure transparency, fairness, and investor protection in the financial markets.7. How do economic indicators such as GDP and unemployment rates affect market trends?- Economic indicators provide insights into the health of the economy, influencing investor confidence and market performance.8. Explain the concept of risk management in financial markets.- Risk management involves identifying, assessing, and mitigating potential risks to protect investments and achieve financial goals.9. Discuss the impact of technological advancements on financial markets.- Technology has revolutionized trading practices, market access, and information dissemination, shaping the future of finance.10. What are the implications of global events on international financial markets?- Global events such as geopolitical tensions, economic crises, and natural disasters can trigger volatility and uncertainty in international markets.By understanding these fundamental concepts and practicing with sample questions, students can prepare effectively for the 2024 financial markets exam. Good luck!。

《金融市场与金融的机构》课后习题答案

《金融市场与金融机构》米什金第七版课后习题答案
（请集中复习1-6、10-13、15章）
第一章为什么研究金融市场与金融机构
第二章金融体系概览
第三章利率的含义及其在定价中的作用
第四章为什么利率会变化
第五章利率的风险结构和期限结构如何影响利率
第六章金融市场是否有效
第十章货币政策传导：工具、目标战略和战术
第七版中的12题在第五六版中没有，此处的12-19题即为第七版的13-20题
第十一章货币市场
第十二章债券市场
第十三章股票市场
第十四章抵押贷款市场
第十五章外汇市场。

金融英语第七章答案

Chapter 7 Business FinancingI. Answer the following questions in English.1. What is mean about debt financing?Debt financing means borrowing money that is to be repaid over a period of time, usually with interest.2. What is equity financing?Equity financing describes an exchange of money for a share of business ownership.3.Why does company's organizational form influence willing others will be to invest company's business?Because of equity financing.This form of financing allows you to obtain funds without incurring debt; in other words, without having to repay a specific amount of money at any particular time.4. How many advantages for a partnership?Three.They are inexpensive and simple to form and maintain,favorable tax treatment,sharing of expertise and risk.5.How many disadvantages for a partnership?Three. They are personal liability,limited transferability of ownership,limited financing options.6. What is the major disadvantage to equity financing?The major disadvantage to equity financing is the dilution of your ownership interests and the possible loss of control that may accompany a sharing of ownership with additional investors.7. Why does some one say debt financing is attractive?Debt financing is attractive because you do not have to sacrifice any ownership interests in your business, interest on the loan is deductible, and the financing cost isa relatively fixed expense.8. What are the disadvantages of an LLC?The disadvantages of an LLC are the statutory formalities that must be followed and the expenses that accompany compliance with those formalities，as well as several unresolved legal and tax issues(e.g.，multistate transactions，whether single-member LLCs are allowed and conflicts between state LLC laws)．II. Fill in the each blank with an appropriate word or expression.1. Equity financing describes an exchange of money for a share of business ownership. This form of financing allows you to obtain funds without incurring debt; in other words, without having to repay a specific amount of money at any particular time.2. Financing is categorized into two fundamental types: debt financing and equity financing. .3. The effect of selling a large percentage of the ownership interest interest in your business may mean that your own investment will be short-term,unless you retain a majority interest in the business and control over future sale of the business.4.The business enters into a kind of contract with the state (called a corporate charter )in which the business agrees to abide by the governing state regulations, in return for the state's agreeing to treat the business as a separate legal entity for legal liability and tax purposes.5. A limited partnership is a partnership that requires only one partner to assume personal liability for the business's liabilities (the general partner).6. The business must have at least one general partner who is responsible for overseeing operations and for making daily management decisions.III. Translate the following sentences into English.1.企业融资是指企业在发展扩张中筹集所需资金的行为。

金融市场学双语题库及答案(第二十七章)米什金《金融市场与机构》

Financial Markets and Institutions, 8e (Mishkin)Chapter 27 Finance Companies27.1 Multiple Choice1) The earliest examples of finance companies date back to the beginning of the________ when retailers offered installment credit to customers.A) 1800sB) 1900sC) 1950sD) 1980sAnswer: ATopic: Chapter 27.1 History of Finance CompaniesQuestion Status: New Question2) A balloon loan requiresA) multiple payments at odd, random intervals.B) periodic payments of principle and interest.C) a single large payment at the loan's maturity to retire the debt.D) a steadily increasing payment (floating balloon) to retire the debt.Answer: CTopic: Chapter 27.1 History of Finance CompaniesQuestion Status: New Question3) In the early 1900s, banks did not offer loans to purchase automobiles. This is becauseA) banks could not make a profit on car loans.B) only finance companies were permitted to offer car loans.C) banks could not repossess a car if the loan defaulted.D) banks did not view a car as a productive asset.Answer: DTopic: Chapter 27.1 History of Finance CompaniesQuestion Status: New Question4) By the beginning of 2013, banks held $1,191 billion in consumer loans. Finance companies held about ________ of that figure.A) 42%B) 68%C) 90%D) 117%Answer: BTopic: Chapter 27.6 Finance Company Balance SheetQuestion Status: Updated from Previous Edition5) Finance companies are ________ market intermediaries.A) stockB) bondC) FXD) moneyAnswer: DTopic: Chapter 27.2 Purpose of Finance CompaniesQuestion Status: New Question6) How do consumer loans differ between those issued by finance companies and those issued by banks?A) Loans made by finance companies are often riskier than those issued by banks.B) Consumer finance companies are typically owned by the manufacturer whose products are being financed.C) Both A and B of the above are correct.D) None of the above are correct.Answer: CTopic: Chapter 27.2 Purpose of Finance CompaniesQuestion Status: New Question7) What is liquidity risk?A) A problem that arises when a firm runs short of cash.B) The risk of asset prices rising too high.C) The chance that the borrower will fail to repay a loan.D) The risk associated with longer-term contracts.Answer: ATopic: Chapter 27.3 Risk in Finance CompaniesQuestion Status: New Question8) What is default risk?A) A problem that arises when a firm runs short of cash.B) The risk of asset prices rising too high.C) The chance that the borrower will fail to repay a loan.D) The risk associated with longer-term contracts.Answer: CTopic: Chapter 27.3 Risk in Finance CompaniesQuestion Status: New Question9) What are the three main types of finance companies?A) Sales, lease, and buybackB) Business, sales, and consumerC) Factor, lease, and floor planD) None of the above are correct.Answer: BTopic: Chapter 27.4 Types of Finance CompaniesQuestion Status: New Question10) In 2013, the largest portion of loans made by finance companies was ________, representing 60% of the loans.A) consumer loansB) factoring loansC) business loansD) real estateAnswer: ATopic: Chapter 27.4 Types of Finance CompaniesQuestion Status: Updated from Previous Edition11) In factoring, a finance company makes a loan andA) purchases the firm's accounts receivables at a premium.B) purchases the firm's accounts payables at a premium.C) purchases the firm's accounts receivables at a discount.D) purchases the firm's accounts payables at a discount.Answer: CTopic: Chapter 27.4 Types of Finance CompaniesQuestion Status: New Question12) In which industry is factoring a common practice?A) AutomobileB) Tech servicesC) EntertainmentD) ApparelAnswer: DTopic: Chapter 27.4 Types of Finance CompaniesQuestion Status: New Question13) In which industry is factoring a common practice?A) AutomobileB) Tech servicesC) EntertainmentD) ApparelAnswer: DTopic: Chapter 27.4 Types of Finance CompaniesQuestion Status: New Question14) Which of the following is not an advantage of a lease financing arrangement?A) Companies with losses can still depreciate equipment if leased from a finance company.B) Repossession is easier in a lease-finance arrangement because the finance company already owns the equipment.C) Finance companies are in a good position to sell a repossessed asset, especially if they are a subsidiary of the equipment manufacturer.D) The lessee often does not have to make as large of an upfront payment, relative to a straight loan.Answer: ATopic: Chapter 27.4 Types of Finance CompaniesQuestion Status: New Question15) In which industry is a floor plan common practice?A) AutomobileB) Tech servicesC) EntertainmentD) ApparelAnswer: ATopic: Chapter 27.4 Types of Finance CompaniesQuestion Status: New Question16) Consumer finance companies typically make loans to consumers whoA) prefer to avoid the regulatory environment at a bank.B) cannot obtain credit otherwise due to low income or poor credit.C) Both A and B of the above are correct.D) Neither A nor B of the above are correct.Answer: BTopic: Chapter 27.4 Types of Finance CompaniesQuestion Status: New Question17) Two growth areas for consumer finance companies areA) first mortgages and vacation financing.B) marine vessel loans and auto loans.C) home equity loans and educational loans.D) home equity loans and "private label" retail credit cards.Answer: DTopic: Chapter 27.4 Types of Finance CompaniesQuestion Status: New Question18) Sales finance companies make loans to consumers to purchase itemsA) on the Internet.B) from any retailer.C) from a particular retailer.D) for a specific use.Answer: CTopic: Chapter 27.4 Types of Finance CompaniesQuestion Status: New Question19) Although finance companies are largely unregulated, they do face some regulations aimed primarily atA) protecting unsophisticated customers.B) the government deposit insurance.C) large corporate customers.D) protecting the finance companies from failure.Answer: ATopic: Chapter 27.5 Regulation in Finance CompaniesQuestion Status: New Question20) As presented in the Consolidated Finance Company Balance Sheet, the largest asset of finance companies is consumer loans, representing ________ of assets.A) 10%B) 22%C) 25%D) 33%Answer: DTopic: Chapter 27.6 Finance Company Balance SheetQuestion Status: New Question21) Commercial paper is an important source of funding for finance companies. As presented in the Consolidated Finance Company Balance Sheet, commercial paper represents about ________ of their liabilities.A) 3.9%B) 5.8%C) 12.5%D) 20.0%Answer: ATopic: Chapter 27.6 Finance Company Balance SheetQuestion Status: New Question22) On average, finance companies have a capital-to-total-asset ratio that is ________ than that of banks and savings and loans.A) lowerB) the same asC) higherD) None of the above are correct. Finance companies do not have acapital-to-total-asset ratio.Answer: CTopic: Chapter 27.6 Finance Company Balance Sheet Question Status: New Question27.2 True/False1) Installment credit is a loan that requires the borrower to make a series of equal payments over some fixed length of time.Answer: TRUETopic: Chapter 27.1 History of Finance CompaniesQuestion Status: New Question2) A balloon loan requires periodic payments of principle and interest.Answer: FALSETopic: Chapter 27.1 History of Finance CompaniesQuestion Status: New Question3) Many retailers established finance companies to provide financing for their customers. Although these finance subsidiaries did increase sales, the subsidiary was typically unprofitable.Answer: FALSETopic: Chapter 27.1 History of Finance CompaniesQuestion Status: New Question4) Finance companies essentially sell commercial paper and use the proceeds to make loans.Answer: TRUETopic: Chapter 27.2 Purpose of Finance CompaniesQuestion Status: New Question5) Finance companies face much stricter regulations than commercial banks. Answer: FALSETopic: Chapter 27.5 Regulation in Finance CompaniesQuestion Status: New Question6) Lease financing is an example of a business financing need not served by most banks.Answer: TRUETopic: Chapter 27.4 Types of Finance CompaniesQuestion Status: New Question7) Much like banking institutions, interest-rate risk is a big concern for finance companies.Answer: FALSETopic: Chapter 27.3 Risk in Finance CompaniesQuestion Status: New Question8) Factoring refers to purchasing a firm's accounts receivables at a premium.Answer: FALSETopic: Chapter 27.4 Types of Finance Companies Question Status: New Question9) In a lease financing arrangement, a finance company will purchase equipment, which it then leases to a company for a set period.Answer: TRUETopic: Chapter 27.4 Types of Finance CompaniesQuestion Status: New Question10) Consumer finance companies make loans to borrowers who would not qualify for bank loans due to low income or poor credit.Answer: TRUETopic: Chapter 27.4 Types of Finance CompaniesQuestion Status: New Question11) A sales finance company differs from a captive finance company primarily in regulations and other restrictions.Answer: FALSETopic: Chapter 27.4 Types of Finance CompaniesQuestion Status: New Question12) Usury statutes limit the level of interest rates that finance companies can charge their customers.Answer: TRUETopic: Chapter 27.5 Regulation in Finance CompaniesQuestion Status: New Question13) Like the consumer finance market, finance companies face many regulations in the business loan market.Answer: FALSETopic: Chapter 27.5 Regulation in Finance CompaniesQuestion Status: New Question27.3 Essay1) What factors explain the existence of finance companies, given that banks already provide loans, credit, and so forth?Topic: Chapter 27.2 Purpose of Finance CompaniesQuestion Status: New Question2) Discuss the regulatory environment for finance companies relative to commercial banks.Topic: Chapter 27.5 Regulation in Finance CompaniesQuestion Status: New Question3) Discuss the types of risk faced by finance companies. Are these risks similar to banks?Topic: Chapter 27.3 Risk in Finance Companies Question Status: New Question4) What are the various types of finance companies?Topic: Chapter 27.4 Types of Finance CompaniesQuestion Status: New Question5) Describe the process of factoring? When and why is it used?Topic: Chapter 27.4 Types of Finance CompaniesQuestion Status: New Question6) Describe how floor plans work in the automobile industry. Why can finance companies offer these arrangements at a lower cost than banks?Topic: Chapter 27.4 Types of Finance CompaniesQuestion Status: New Question11Copyright © 2015 Pearson Education, Inc.。