CFA论坛 - Powered by Discuz! Board

标题: Reading 65:Yield Measures, Spot Rates, and Forward Rates- [打印本页]

作者: yangh 时间: 2009-3-4 09:22 标题: [2009] Session 16 - Reading 65:Yield Measures, Spot Rates, and Forward Rates-

LOS c, (Part 2): Discuss the factors that affect reinvestment risk.

Q1. All else being equal, which of the following bond characteristics will lead to lower levels of coupon reinvestment risk?

A) Longer maturities and higher coupon levels.

B) Shorter maturities and higher coupon levels.

C) Shorter maturities and lower coupon levels.

Q2. All else being equal, which of the following bond characteristics will lead to higher levels of coupon reinvestment risk?

A) Longer maturities and lower coupon levels.

B) Longer maturities and higher coupon levels.

C) Shorter maturities and higher coupon levels.

Q3. If the coupon payments are reinvested at the coupon rate during the life of the issue, then the:

A) yield to maturity is less than the realized yield.

B) yield to maturity is greater than the realized yield.

C) yield to maturity cannot be determined from the information given.

作者: yangh 时间: 2009-3-4 09:22 标题: [2009] Session 16 - Reading 65:Yield Measures, Spot Rates, and Forward Rates-

LOS c, (Part 2): Discuss the factors that affect reinvestment risk.fficeffice" />

Q1. All else being equal, which of the following bond characteristics will lead to lower levels of coupon reinvestment risk?

A) Longer maturities and higher coupon levels.

B) Shorter maturities and higher coupon levels.

C) Shorter maturities and lower coupon levels.

Correct answer is C)

Other things being equal, the amount of reinvestment risk embedded in a bond will decrease with lower coupons because the there will be a lesser dollar amount to reinvest and with shorter maturities because the reinvestment period is shorter.

Q2. All else being equal, which of the following bond characteristics will lead to higher levels of coupon reinvestment risk?

A) Longer maturities and lower coupon levels.

B) Longer maturities and higher coupon levels.

C) Shorter maturities and higher coupon levels.

Correct answer is B)

Other things being equal, the amount of reinvestment risk embedded in a bond will increase with higher coupons because there is a greater dollar amount to reinvest, and with longer maturities because the reinvestment period is longer.

Q3. If the coupon payments are reinvested at the coupon rate during the life of the issue, then the:

A) yield to maturity is less than the realized yield.

B) yield to maturity is greater than the realized yield.

C) yield to maturity cannot be determined from the information given.

Correct answer is C)

For the calculated YTM to hold true all reinvestments must occur at that YTM, otherwise a new YTM will occur and we will not be able to calculate it.

作者: erpang8888 时间: 2009-3-17 09:16

a

作者: connie198226 时间: 2009-3-24 10:11

ss

作者: kkingswd 时间: 2009-4-3 23:14

good

作者: dullmul 时间: 2009-4-6 12:35

thx

作者: saint_zhu 时间: 2009-4-16 16:14

factors

作者: dxxiao 时间: 2009-4-17 09:08

thx

作者: kgbvvsscia 时间: 2009-4-23 22:04

thanks

作者: kgbvvsscia 时间: 2009-4-23 22:08

thanks

作者: lanmark38 时间: 2009-4-24 22:14

好好

作者: hjl2000 时间: 2009-4-26 20:34

d

作者: wangyoucao 时间: 2009-4-28 14:16

thansk

作者: gerda2000 时间: 2009-4-29 16:13

thanks

作者: dandinghe4748 时间: 2009-5-5 13:56 标题: 回复：（yangh）[2009] Session 16 - Reading 65:Yiel...

good

作者: tycao 时间: 2009-5-16 06:39 标题: x

x

作者: yangxi_sisi 时间: 2009-5-18 11:38

d

作者: itispig 时间: 2009-5-18 16:58

thanks

作者: 大狗狗 时间: 2009-5-18 19:32

k

作者: ray0106 时间: 2009-5-19 21:31

D

作者: deqiang 时间: 2009-5-21 05:35

 ok

作者: jacky_lu79 时间: 2009-5-26 17:43

 m

作者: vivianegao 时间: 2009-5-27 11:48

 ok

作者: rosemarie 时间: 2009-5-27 14:37

[em01]

作者: coffeebeanmm 时间: 2009-5-29 10:53

cbb

作者: redmoon 时间: 2009-5-29 22:57

 thanks

作者: au_cafe 时间: 2009-5-30 05:17

a

作者: thomas0412 时间: 2009-6-4 10:27

thx

作者: tonytaot 时间: 2009-6-4 16:49

re

作者: danqing66 时间: 2009-6-5 12:14

thanks

作者: helloalan 时间: 2009-6-6 00:32

 cbc

作者: cracy2749 时间: 2009-6-15 20:32

BAC

作者: dlives 时间: 2009-6-22 22:46

help

作者: tcchan312 时间: 2009-8-4 23:11

thx

作者: ohwow_my 时间: 2009-8-7 18:19

thanks

作者: 梅子绿茶 时间: 2009-8-19 10:02

 a

作者: luodan0103 时间: 2009-8-21 09:56

thanks

作者: htpeng 时间: 2009-8-26 03:39

sese

作者: snowmen1984 时间: 2009-10-7 03:31

dd

作者: garmun 时间: 2009-10-27 22:48

 tq

作者: bjms912224 时间: 2009-11-4 17:30

 tx

作者: lqx1212 时间: 2009-11-4 21:58

aa

作者: solitute 时间: 2009-11-10 19:47

thanks

作者: haisian 时间: 2009-11-12 10:39

学习

作者: ken_wangyang 时间: 2009-11-18 16:56

 thanks

作者: njjens 时间: 2009-11-19 09:29 标题: d

d

作者: rockmelon 时间: 2009-11-20 12:17

re

作者: big36999 时间: 2009-11-20 12:24

thanks

作者: mellsa 时间: 2009-11-22 10:22

fff

作者: chouccy 时间: 2009-11-22 11:18

thx

作者: guopeng00304024 时间: 2009-11-23 19:01

d

作者: sibrinall 时间: 2009-11-25 21:41

[em60]

作者: tin_wo 时间: 2009-11-27 13:11

tk

作者: cfamike 时间: 2009-11-30 07:23

dsf

作者: jrxx999 时间: 2009-12-15 13:43

踩踩踩踩踩踩踩踩踩踩踩踩

作者: 司我琪 时间: 2010-2-7 23:40

 3x

作者: flyingdance_nan 时间: 2010-3-18 22:29

great

作者: zuelpich 时间: 2010-3-26 23:37

作者: 梅子绿茶 时间: 2010-4-5 10:33

 a

作者: daisytea 时间: 2010-4-5 19:37

刚刚

作者: lingicer 时间: 2010-5-9 11:40

 y

作者: aarongreen 时间: 2010-5-10 10:43

谢谢

作者: shuru1207 时间: 2010-5-11 01:25

thnx

作者: cageun2002 时间: 2010-6-2 10:37

Thx

作者: jerrywang0 时间: 2010-7-26 18:10

q

作者: casiofd 时间: 2010-8-12 21:54

abc

作者: yamimiyato 时间: 2010-8-29 08:43

[em50]

作者: bobchin 时间: 2010-9-1 04:59

thx

作者: jc1188 时间: 2010-9-26 00:20

d

作者: yoyome 时间: 2010-10-2 22:52

t

作者: heartfc 时间: 2010-10-12 21:34

谢谢楼主的分享

作者: zsd425 时间: 2010-10-15 16:12

 谢谢了

作者: dreamcici 时间: 2010-10-16 18:46

thanks for sharing

作者: scofield1985 时间: 2010-10-23 13:05

d

作者: echopapa 时间: 2010-11-12 03:56

thx

作者: seraphiris0116 时间: 2010-11-16 15:06

thanks

作者: danforth 时间: 2010-12-1 00:19

d

作者: khaipinglai 时间: 2010-12-1 13:47

 thanks

欢迎光临 CFA论坛 (http://forum.theanalystspace.com/)