2009 Level 1 Mock afternoon 106和 77题 face, 106, afternoon, investor, percent

pkuers

大牛来给解答一下啊~

 

106的yield ratio不是应该higher yield/lower yield么？

 

106. A U.S. investor has purchased a tax-exempt 5-year municipal bond at a yield of
3.86 percent which is 100 basis points less than the yield on a 5-year option-free
U.S. Treasury. If the investor’s marginal tax rate is 32 percent, then the yield ratio
are closest to:
A. 0.79.
B. 1.26.
C. 5.68 .

 

还有77题怎么理解

77. Which of the following is least likely to concern an investor evaluating a
corporation’s shareowner rights provisions?
A. Shareowners may nominate board members.
B. Shares held by the founding family have supernormal voting rights.
C. To ensure accuracy, company executives tabulate and verify shareowner
voting. 

[此贴子已经被作者于2009-6-5 20:52:13编辑过]

xixi723

不可能，relative yield是absolute yield spread/yield on benchmark bond，除非absolute yield spread为负，但absolute yield spread是明确写了highter减去lower的。。。

allanfan

 i guess relative yield can be negative then...

xixi723

可是还是不对呀，第106题，notes上虽然是以treasury bond做benchmark，但是公式下面写了一句，note that the yield ration is simply one plus the relative yield，那就证明yield还是应该大于1啊。。。

xixi723

有没有可能是答案错了？

faye626

o,看到大家的解答了

pkuers

恩。。。我刚才看书了，书上是以treasury bond为benchmark的

johnnybonn

你是看的去年的notes吧（和我一样），去年的notes上是high/low，但今年的是bond rate/benchmark raterate/benchmark，你以treasury rate作为benchmark就对了

ylwhen

 3.86/4.86

faye626

106题我也不明白,我死记的,反正us treasury rate作为benchmark