兹维博迪金融学第二版试题库2tb

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1、ChapterTwoFinancialMarketsandInstitutionsThischaptercontains49multiple-choicequestions,20shortproblemsand10longerproblems.MultipleChoice1.Amarketthathasnoonespecificlocationistermeda(n)________market.(a)over-the-counter(b)geographiclocation(c)intermediary(d)c

2、onceptualAnswer:(a)2.________problemsarisebecausepartiestocontractsoftencannoteasilymonitororcontroloneanother.(a)Payment(b)Counter(c)Incentive(d)ExchangeAnswer:(c)3.Incentiveproblemstakeavarietyofformsandinclude:(a)moralhazard(b)adverseselection(c)principal-

3、agent(d)alloftheaboveAnswer:(d)4.The________problemexistswhenhavinginsuranceagainstsomeriskcausestheinsuredpartytotakegreaterriskortotakelesscareinpreventingtheeventthatgivesrisetotheloss.(a)moralhazard(b)adverseselection(c)principal-agent(d)alloftheaboveAnsw

4、er:(a)2-215.Lifeannuitiesareexamplesof________problems.(a)moralhazard(b)adverseselection(c)principal-agent(d)alloftheaboveAnswer:(b)6.________meansgivingthelendertherighttoseizespecificbusinessassetsintheeventofdefault.(a)Increasingmoralhazard(b)Increasingadv

5、erseselection(c)Collateralizationofloans(d)AlloftheaboveAnswer:(c)7.________instrumentsarealsocalledfixed-incomeinstruments.(a)Debt(b)Equity(c)Derivative(d)AlloftheaboveAnswer:(a)8.Themarketforshort-termdebt(lessthanoneyear)iscalledthe________market,andthemar

6、ketforlong-termdebtandequitysecuritiesiscalledthe________market.(a)capital;money(b)money;capital(c)fixed-income;money(d)derivative;equityAnswer:(b)2-219.________securitiesarefinancialinstrumentsthatderivetheirvaluefromthepricesofoneormoreotherassets.(a)Debt(b

7、)Equity(c)Derivative(d)Fixed-incomeAnswer:(c)10.Acalloptiongivesitsholdertherightto________someassetataspecifiedpriceonorbeforesomespecifiedexpirationdate.(a)sell(b)buy(c)loan(d)borrowAnswer:(b)11.Aputoptiongivesitsholdertherightto________someassetataspecifie

8、dpriceonorbeforesomespecifiedexpirationdate.(a)sell(b)buy(c)loan(d)borrowAnswer:(a)12.________contractsobligeonepartytothecontracttobuy,andtheotherpartytosell,someassetataspecifiedpriceon