A. Because assets and liabilities are not evenly matched on the same time scale
- o; W O) ?3 ~+ G g B. Because assets and liabilities are evenly matched0 F8 N5 m# O( W* q
C. Because the interbank market uses LIBOR1 f4 E/ d# ~, o- k3 F# A0 ^) n2 p
D. Because assets and liabilities can be underwritten8 O" U" h% b4 v5 [% L( }
18. If the expected returns of two risky assets have a perfect negative correlation, then risk .% P' q) p. F: ^2 R G* r4 o: u
A. is increased
. ]0 E) k- j( L+ ]0 d( M B. falls to zero: @* I" x7 @# Z# D% }" n
C. is unaffected3 E% }" W0 w9 E/ @) e8 I+ X
D. is reduced by one-half5 H" i6 `& H( z" D7 \* m
19. A possible disadvantage of freely fluctuating exchange rates with no official intervention is that .
. A' j! s* X$ F4 { A. some nations would experience continual deficits
' Z# c7 x" H. `% u B. the exchange rates may experience wide and frequent fluctuations
' n3 }0 W* [: j) ?$ ]+ W5 I9 R C. nations would no longer be able to undertake domestic policies designed to achieve and maintain full employment/ g! {( H: z, {. ]4 F
D. nations would need a larger supply of international reserves than otherwise
l8 l2 c. M% D 20. What are your GBP/USD position and the average rate if you sell £4m at 1.6350 buy £5m at 1.6340 and sell $5m at 1.6348?
4 p2 M' z9 r" T" p4 O9 _ A. Short £2 058 478.10 long $3 370 000 at 1.6371
, Y" w( Z: e- ~4 W6 ? B. Long £5 941 521.90 short $9710 000 at 1.6342- |0 t& f0 Q# O& P
C. Short £5 941 521.90 long $9 710 000 at 1.6342
* k8 X7 H- ] R$ g- L D. Long £4 058 478.10 short $6 630 000 at 1.6336
2 t9 k& f( q) p% d 答案:
& G/ a( y+ i- }$ l/ j 1.D 2.B 3.A 4.A 5.A 6.C 7.A 8.B 9.A 10.A
8 s* M$ n! K- w% J# `8 B5 x 11.B 12.B 13.D 14.B 15.A 16.A 17.A 18.B 19.B 20.D |