CFA固定收益证券答案2023

第三章测试

1.A portfolio manager is considering the purchase of a bond with a 5.5% coupon rate that pays interest annually and matures in three years. If the required rate of return on the bond is 5%, the price of the bond per 100 of par value is closest to
A:101.36 B:106.43 C:98.65
答案:A
2.a bond offers an annual coupon rate of 4%, with interest paid semiannually. The bond matures in two years. At a market discount rate of 6%, the price of this bond per 100 of par value is closest to
A:100 B:103.81 C:96.28 3.Two bonds A and B both have 5 years to maturity. Bond A’s coupon rate is 6% and Bond B’s coupon rate is 8%. Both bonds are currently trading at par value. Relative to Bond B, for a 200 basis points decreases in the yield, Bond A will most likely exhibit a(n):
A:equal percentage price change B:greater percentage price change C:smaller percentage price change 4.Bond A is a semi-annual coupon bond with a coupon rate of 5%. It pays interest on April 10 and October 10 each year and its maturity date is Oct 10, 2020. If its YTM is 4% and 30/360 day-count convention method is used, what is its full price on June 16, 2018?
A:102.36 B:103.10 C:103.65 5.The accrued interest per 100 of par value for Bond A in Question 4 on 16 June 2018 is closest to
A:0.73 B:0.46 C:0.92 6.The flat price for Bond A in Question 4 on 16 June 2018 is closest to
A:102.18 B:103.10 C:104.02 7.Matrix pricing allows investors to estimate market discount rates and prices for bonds
A:with different credit quality B:with different coupon rates C:that are not actively trade 8.A two-year floating-rate note pays 6-month Libor plus 80 basis points. The floater is priced at 97 per 100 of par value. Current 6-month Libor is 1.00%. Assume a 30/360 day-count convention and evenly spaced periods. The discount margin for the floater in basis points is closest to
A:236 bps B:420 bps C:180 bps 9.The bond equivalent yield of a 180-day banker's acceptance quoted at a discount rate of 4.25% for a 360-day year is closest to
A:4.4% B:4.34% C:4.31% 10.The 2-year and 4-year spot rates are 3.5% and 4.2%, respectively. What is the implied 2-year forward rate 2-year from now, if the rate is semi-annually compounded?
A:0.05025 B:0.04905 C:0.04902