国际金融管理（英）章节测试课后答案2024春

第八章测试

1. The primary reasons for a counterparty to use a currency swap are
A:both a and b  B: to hedge and to speculate. C:to play in the futures and forward markets.  D:to obtain debt financing in the swapped currency at an interest cost reduction brought about through comparative advantages each counterparty has in its national capital market, and the benefit of hedging long-run exchange rate exposure. 
答案:D
2.Which combination of the following statements is true about a swap bank? (i) - it is a generic term to describe a financial institution that facilitates swaps between counterparties(ii) - it can be an international commercial bank(iii) - it can be an investment bank(iv) - it can be a merchant bank(v) - it can be an independent operator 
A:(i), (ii), (iii) and (iv)  B: (i), (ii) and (iii) C:(i), (ii), (iii), (iv) and (v)  D: (i) and (ii) 3.Suppose the quote for a five-year swap with semiannual payments is 8.50—8.60 percent. The means 
A: the swap bank will pay semiannual fixed-rate dollar payments of 8.60 percent against receiving six-month dollar LIBOR. B: none of the above C: if the swap bank is successful in getting counterparties to both legs of the swap at these prices, he will have an annual profit of ten basis points. D: the swap bank will receive semiannual fixed-rate dollar payments of 8.50 percent against paying six-month dollar LIBOR. 4. An interest-only single currency interest rate swap
A:is also known as an interest rate swap.  B:is also known as a plain vanilla swap.  C:all of the above  D:is about as simple as swaps can get.  5. Suppose ABC Investment Banker Ltd., is quoting swap rates as follows: 7.50 - 7.85 annually against six-month dollar LIBOR for dollars, and 11.00 - 11.30 percent annually against six-month dollar LIBOR for British pound sterling. ABC would enter into a $/£ currency swap in which:
A:it would pay annual fixed-rate dollar payments of 7.5% in return for receiving annual fixed-rate £ payments at 11.3%  B:it will receive annual fixed-rate dollar payments at 7.85% against paying annual fixed-rate £ payments at 11%  C: none of the above D:a and b