[CFA level 1模拟真题]Version 4 Questions－Q53 future, face

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Q53. If investors expert stable rates of inflation in the future, the pure expectations theory suggests that the yield curve now will be

A. flat

B. humped

C. inverted

D. upward-sloping

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答案和详解如下：

Q53   A    Study Session 15-68-c

The pure expectations theory explains the term structure in terms of expected future Short-term interest rates, Assuming that interest rates reflect a relatively stable real rate of interest plus a premium for expected inflation, stability in inflation expectations would mean unchanged future short-term interest rates and a flat yield curve.