第七章单元测试
- A five-year bond with a yield of 11% (continuously compounded） pays an 8% coupon at the end of each year. What is the bond's duration?（ ）
- A trading portfolio consists of two bonds, A1and B1. Both have modified duration of 3 years and face value of $1,000. Bond A1 is a zero-coupon bond, and its current price is $900. Bond B1pays annual coupons and is priced at par. What is expected to happen to the market prices of bond A1and bond B1, in dollar terms, if there is a parallel upward shift in the yield curve of 1%?（ ）
- Duration is a measure of how long the bond holder has to wait for cash flows.（ ）
- The table gives the closing prices and yields of a particular liquid bond over the past few days. What is the approximate duration of the bond?
（ ） - Modified duration is used when the yield y is expressed with compounding m times per year.（ ）
A:4.536
B:3.982
C:4.256
答案:4.256
A:Both bond prices will move down by roughly equal amounts.
B:Both bond prices will move up, but bond B1 will gain more than bond A1.
C:Both bond prices will move down, but bond B1 will lose more than bond A1.
A:对 B:错
A:9.4
B:18.8
C:1.9
A:对 B:错
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