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Reading 64:Introduction to the Valuation of Debt Securiti

 

Q29. Value a semi-annual, 8% coupon bond with a $1,000 face value if similar bonds are now yielding 10%? The bond has 10 years to maturity.

A)   $1,373.87.

B)   $875.38.

C)   $1,000.00.

 

Q30. What value would an investor place on a 20-year, 10% annual coupon bond, if the investor required an 11% rate of return?

A)   $920.

B)   $879.

C)   $1,035

 

Q31. Georgia-Pacific has $1,000 par value bonds with 10 years remaining maturity. The bonds carry a 7.5% coupon that is paid semi-annually. If the current yield to maturity on similar bonds is 8.2%, what is the current value of the bonds?

A)   $1,123.89.

B)   $952.85.

C)   $569.52.

 

Q32. What value would an investor place on a 20-year, 10% annual coupon bond, if the investor required a 10% rate of return?

A)   $1,104.

B)   $920.

C)   $1,000.

 

Q33. An investor plans to buy a 10-year, $1,000 par value, 8% semiannual coupon bond. If the yield to maturity of the bond is 9%, the bond’s value is:

A)   $1,067.95.

B)   $934.96.

C)   $935.82.

 

Q34. Deep discount bonds have:

A)   less call protection than bonds selling at par.

B)   greater price volatility than bonds selling at par.

C)   greater reinvestment risk than bonds selling at par.

 

Q35. The price and yield on a bond have:

A)   positive relation.

B)   inverse relation.

C)   no relation.

 

Q36. A year ago a company issued a bond with a face value of $1,000 with an 8% coupon. Now the prevailing market yield is 10%. What happens to the bond? The:

A)   bond is traded at a market price higher than $1,000.

B)   bond is traded at a market price of less than $1,000.

C)   bond price is not affected by the change in market yield, and will continue to trade at $1,000.

 

Q37. Suppose the term structure of interest rates makes an instantaneous parallel upward shift of 100 basis points. Which of the following securities experiences the largest change in value? A five-year:

A)   zero-coupon bond.

B)   floating rate bond.

C)   coupon bond with a coupon rate of 5%.

 

a

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d

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知音体的叫法来源于知名杂志《知音》,指用煽情的标题来吸引读者。2007年8月,一网友在天涯发帖呼吁:大家用无敌优雅冷艳的“知音体标题”来给熟悉的童话、寓言、故事等重新命名!激起无数网友的创作欲望:《嫦娥奔月》被改为《铸成大错的逃亡爱妻啊,射击冠军的丈夫等你悔悟归来》,《唐伯虎点秋香》被改为《我那爱人打工妹哟,博士后为你隐姓埋名化身农民工》……一场大赛后,留下无数经典笑料。

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