B.836

C.461

正确答案：461

第一章单元测试

1、A 10-year bond was issued four years ago.The bond is denominated in US dollars， offers a coupon rate of 10% with interest paid semi-annually， and is currently priced at 102% of par.The bonds

A.tenor is six years

B.nominal rate is 5%

C.redemption value is 102% of the par value

正确答案：redemption value is 102% of the par value

2、The legal contract that describes the form of the bond， the obligations of the issuer， and the rights of the bondholders can be best described as a bond’s

A.debenture

B.covenant

C.indenture

正确答案：indenture

3、Which of the following is a type of external credit enhancement？

A.Overcollaterization

B.Covenants

C.A surety bond

正确答案：A surety bond

4、An affirmative covenant is most likely to stipulate：

A.the maximum percentage of the issuers gross assets that can be sold

B.limits on the issuer's leverage ratio

C.how the proceeds of the bond issue will be used

正确答案：how the proceeds of the bond issue will be used

5、Which of the following best describes a negative bond covenant？ The issuer is

A.prohibited from investing in risky projects

B.required to pay taxes as they come due

C.required to maintain its current lines of business

正确答案：prohibited from investing in risky projects

6、A South African company issues bonds denominated in pound sterling that are sold to investors in the United Kingdom.These bonds can be best described as

A.Eurobonds

B.global bonds

C.foreign bonds

正确答案：foreign bonds

7、If interest rates increase， an investor who owns a mortgage pass-through security is most likely affected by

A.credit risk

B.contraction risk

C.extension risk

正确答案：contraction risk

8、Which of the following provisions is a benefit to the issuer？

A.Put provision

B.Call provision

C.Conversion provision

正确答案：Call provision

9、Relative to an otherwise similar option-free bond.a

A.putable bond will trade at a higher price

B.callable bond will trade at a higher price

C.convertible bond will trade at a lower price

正确答案：putable bond will trade at a higher price

第二章单元测试

1、The distinction between investment grade debt and non-investment grade debt is best described by

A.credit quality

B.tax status