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2020年CFA考试《CFA二级》考试共题,分为。小编为您整理Fixed Income (2)5道练习题,附答案解析,供您备考练习。
1、Reese's statement about credit valuation adjustment is most likely:【单选题】
A.correct.
B.
C.incorrect about the sum of expected losses.
正确答案:C
答案解析:Credit valuation adjustment (CVA) is the sum of the present value of the expected loss for each period (and not simply just
2、If interest rate volatility changes in the way predicted in the chief economist’s interest rate forecast, which bond described in Exhibit 1 will most likely experience the largest decrease in price?【单选题】
A.Bond B
B.Bond C
C.Bond A
正确答案:B
答案解析:B is correct The value of a straight (option-free) bond (Bond A) doesn’t change when interest rate volatility changes. The value of the callable bond (Bond B) is equal to the value of the otherwise identical straight bond minus the value of the call option. The value of the putable bond (Bond C) is equal to the value of the otherwise identical straight bond plus the value of the put option. The values of the put and call options decrease when interest rate volatility decreases, so the value of the callable bond will increase and the value of the putable bond will decrease.
3、【单选题】
A.
B.
C.
正确答案:C
答案解析:The 7-year, 7.25% convertible bond has a market price of $947 (given) and, therefore, does not qualify (as it is below par).
4、The value of Bond #8 is closest to:【单选题】
A.98.116% of par.
B.100.000% of par.
C.100.485% of par.
正确答案:C
答案解析:C is correct:
5、The minimum value of the convertible bond today is closest to:【单选题】
A.$900.
B.$917.
C.$947.
正确答案:B
答案解析:Minimum value of a convertible = Max (straight value, conversion value)
What are the indices for a skewed distribution?:What are the indices for a skewed distribution?
What are the responsibilities of the members in reference to the CFA Institute?:Once accepted as a member:每年交述职报告和年费but must not over promise the competency and future investment results.Case
What members and candidates should notice in CFA examinations?:or security of the CFA examinations.(不能恶心CFA),考试不能作弊:考试内容要保密:A. No.:Responsibilities as a CFA Institute Member.right④Case
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