金融市场与机构madura第九版题库ch13

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1、FinancialFuturesMarketsv13Chapter13FinancialFuturesMarkets1.A(n)______isastandardizedagreementtodeliverorreceiveaspecifiedamountofaspecifiedfinancialinstrumentataspecifiedpriceanddate.A)optioncontractB)brokeragecontractC)financialfuturescontractD)margincallANSWER:C2.Interestratef

2、uturesarenotavailableonA)Treasurybonds.B)Treasurynotes.C)EurodollarCDs.D)theS&P500index.ANSWER:D3._________takepositionsinfuturestoreducetheirexposuretofuturemovementsininterestratesorstockprices.A)HedgersB)DaytradersC)PositiontradersD)noneoftheaboveANSWER:A4.______tradefuturescon

3、tractsfortheirownaccount.A)CommissionbrokersB)FloorbrokersC)CommissiontradersD)FloortradersANSWER:D5.Theinitialmarginofafuturescontractistypicallybetween___________percentofafuturescontract’sfullvalue.A)0and2B)5and18C)25and40D)45and60ANSWER:B6.Futuresexchangesfacilitatethetradingp

4、rocessandtakebuyorsellpositionsonfuturescontracts.©2010CengageLearning.AllRightsReserved.ThiseditionisintendedforuseoutsideoftheU.S.only,withcontentthatmaybedifferentfromtheU.S.Edition.Maynotbescanned,copied,duplicated,orpostedtoapubliclyaccessiblewebsite,inwholeorinpart.Financial

5、FuturesMarketsv13A)TrueB)FalseANSWER:B7.IfthepricesofTreasurybonds______,thevalueofanexistingTreasurybondfuturescontractshould______.A)increase;beunaffectedB)decrease;beunaffectedC)AandBD)decrease;decreaseE)decrease;increaseANSWER:D8.AssumethataTbillfuturescontractwithafacevalueo

6、f$1millionispurchasedatapriceof$95.00per$100facevalue. Atsettlement,thepriceofTbillsis$95.50. Whatisthedifferencebetweenthesellingandpurchasepriceofthefuturescontract?A)$.50B)$50C)$500D)$5,000E)noneoftheaboveANSWER:D9.Ifspeculatorsbelieveinterestrateswill_______,theywouldconside

7、r______aTbillfuturescontracttoday.A)increase;sellingB)increase;buyingC)decrease,sellingD)decrease;purchasingacalloptiononANSWER:A10.FinancialfuturescontractsonU.S.securitiesare__________bynon-U.S.financialinstitutions.A)notallowedtobetradedB)arerarelydesiredC)arecommonlytradedD)A

8、andBANSWER:C11.Assumethatspeculat