第二单元 金融考试题 西南财经大学天府学院

第二单元金融考试题西南财经大学天府学院第二单元金融考试题西南财经大学天府学院第二单元金融考试题西南财经大学天府学院V:1.0精细整理，仅供参考第二单元金融考试题西南财经大学天府学院日期：20xx年X月FinancialMarketsandInstitutions,7e(Mishkin)Chapter2OverviewoftheFinancialSystemMultipleChoice1)Everyfinancialmarketperformsthefollowingfunction:A)Itdeterminesthelevelofinterestrates.B)Itallowscommonstocktobetraded.C)Itallowsloanstobemade.D)Itchannelsfundsfromlenders-saverstoborrowers-spenders.Answer:D2)FinancialmarketshavethebasicfunctionofA)bringingtogetherpeoplewithfundstolendandpeoplewhowanttoborrowfunds.B)assuringthattheswingsinthebusinesscyclearelesspronounced.C)assuringthatgovernmentsneedneverresorttoprintingmoney.D)bothAandBoftheabove.E)bothBandCoftheabove.Answer:A3)Whichofthefollowingcanbedescribedasinvolvingdirectfinance?A)Acorporation'sstockistradedinanover-the-countermarket.B)Peoplebuysharesinamutualfund.C)Apensionfundmanagerbuyscommercialpaperinthesecondarymarket.D)Aninsurancecompanybuyssharesofcommonstockintheover-the-countermarkets.E)Noneoftheabove.Answer:E4)Whichofthefollowingcanbedescribedasinvolvingdirectfinance?A)Acorporation'sstockistradedinanover-the-countermarket.B)Acorporationbuyscommercialpaperissuedbyanothercorporation.C)Apensionfundmanagerbuyscommercialpaperfromtheissuingcorporation.D)BothAandBoftheabove.E)BothBandCoftheabove.Answer:B5)Whichofthefollowingcanbedescribedasinvolvingindirectfinance?A)Acorporationtakesoutloansfromabank.B)Peoplebuysharesinamutualfund.C)Acorporationbuyscommercialpaperinasecondarymarket.D)Alloftheabove.E)OnlyAandBoftheabove.Answer:E6)Whichofthefollowingcanbedescribedasinvolvingindirectfinance?A)Abankbuysa.Treasurybillfromoneofitsdepositors.B)Acorporationbuyscommercialpaperissuedbyanothercorporation.C)Apensionfundmanagerbuyscommercialpaperintheprimarymarket.D)BothAandCoftheabove.Answer:D7)FinancialmarketsimproveeconomicwelfarebecauseA)theyallowfundstomovefromthosewithoutproductiveinvestmentopportunitiestothosewhohavesuchopportunities.B)theyallowconsumerstotimetheirpurchasesbetter.C)theyweedoutinefficientfirms.D)theydoalloftheabove.E)theydoAandBoftheabove.Answer:E8)AcountrywhosefinancialmarketsfunctionpoorlyislikelytoA)efficientlyallocateitscapitalresources.B)enjoyhighproductivity.C)experienceeconomichardshipandfinancialcrises.D)increaseitsstandardofliving.Answer:C9)Whichofthefollowingaresecurities?A)AcertificateofdepositB)AshareofTexacocommonstockC)ATreasurybillD)AlloftheaboveE)OnlyAandBoftheaboveAnswer:D10)Whichofthefollowingstatementsaboutthecharacteristicsofdebtandequityaretrue?A)Theybothcanbelong-termfinancialinstruments.B)Theybothinvolveaclaimontheissuer'sincome.C)Theybothenableacorporationtoraisefunds.D)Alloftheabove.E)OnlyAandBoftheabove.Answer:D

11)Themoneymarketisthemarketinwhich________aretraded.A)newissuesofsecuritiesB)previouslyissuedsecuritiesC)short-termdebtinstrumentsD)long-termdebtandequityinstrumentsAnswer:C12)Long-termdebtandequityinstrumentsaretradedinthe________market.A)primaryB)secondaryC)capitalD)moneyAnswer:C13)Whichofthefollowingareprimarymarkets?A)TheNewYorkStockExchangeB)TernmentbondmarketC)Theover-the-counterstockmarketD)TheoptionsmarketsE)NoneoftheaboveAnswer:E14)Whichofthefollowingaresecondarymarkets?A)TheNewYorkStockExchangeB)TernmentbondmarketC)Theover-the-counterstockmarketD)TheoptionsmarketsE)AlloftheaboveAnswer:E15)AcorporationacquiresnewfundsonlywhenitssecuritiesaresoldintheA)secondarymarketbyaninvestmentbank.B)primarymarketbyaninvestmentbank.C)secondarymarketbyastockexchangebroker.D)secondarymarketbyacommercialbank.Answer:B16)IntermediarieswhoareagentsofinvestorsandmatchbuyerswithsellersofsecuritiesarecalledA)investmentbankers.B)traders.C)brokers.D)dealers.E)noneoftheabove.Answer:C17)IntermediarieswholinkbuyersandsellersbybuyingandsellingsecuritiesatstatedpricesarecalledA)investmentbankers.B)traders.C)brokers.D)dealers.E)noneoftheabove.Answer:D18)AnimportantfinancialinstitutionthatassistsintheinitialsaleofsecuritiesintheprimarymarketistheA)investmentbank.B)commercialbank.C)stockexchange.D)brokeragehouse.Answer:A19)Whichofthefollowingstatementsaboutfinancialmarketsandsecuritiesaretrue?A)Mostcommonstocksaretradedover-the-counter,althoughthelargestcorporationshavetheirsharestradedatorganizedstockexchangessuchastheNewYorkStockExchange.B)Acorporationacquiresnewfundsonlywhenitssecuritiesaresoldintheprimarymarket.C)Moneymarketsecuritiesareusuallymorewidelytradedthanlonger-termsecuritiesandsotendtobemoreliquid.D)Alloftheabovearetrue.E)OnlyAandBoftheabovearetrue.Answer:D20)Whichofthefollowingstatementsaboutfinancialmarketsandsecuritiesaretrue?A)Abondisalong-termsecuritythatpromisestomakeperiodicpaymentscalleddividendstothefirm'sresidualclaimants.B)Adebtinstrumentisintermediatetermifitsmaturityislessthanoneyear.C)Adebtinstrumentislongtermifitsmaturityistenyearsorlonger.D)Thematurityofadebtinstrumentisthetime(term)thathaselapsedsinceitwasissued.Answer:C21)Whichofthefollowingstatementsaboutfinancialmarketsandsecuritiesaretrue?A)Fewcommonstocksaretradedover-the-counter,althoughtheover-the-countermarketshavegrowninrecentyears.B)Acorporationacquiresnewfundsonlywhenitssecuritiesaresoldintheprimarymarket.C)Capitalmarketsecuritiesareusuallymorewidelytradedthanlonger-termsecuritiesandsotendtobemoreliquid.D)Alloftheabovearetrue.E)OnlyAandBoftheabovearetrue.Answer:B22)Whichofthefollowingmarketsissometimesorganizedasanover-the-countermarket?A)ThestockmarketB)ThebondmarketC)TheforeignexchangemarketD)ThefederalfundsmarketE)alloftheaboveAnswer:E23)Bondsthataresoldinaforeigncountryandaredenominatedinthatcountry'scurrencyareknownasA)foreignbonds.B)Eurobonds.C)Eurocurrencies.D)Eurodollars.Answer:A24)BondsthataresoldinaforeigncountryandaredenominatedinacurrencyotherthanthatofthecountryinwhichtheyaresoldareknownasA)foreignbonds.B)Eurobonds.C)Eurocurrencies.D)Eurodollars.Answer:B25)FinancialintermediariesA)existbecausetherearesubstantialinformationandtransactioncostsintheeconomy.B)improvethelotofthesmallsaver.C)areinvolvedintheprocessofindirectfinance.D)doalloftheabove.E)doonlyAandBoftheabove.Answer:D26)Themainsourcesoffinancingforbusinesses,inorderofimportance,areA)financialintermediaries,issuingbonds,issuingstocks.B)issuingbonds,issuingstocks,financialintermediaries.C)issuingstocks,issuingbonds,financialintermediaries.D)issuingstocks,financialintermediaries,issuingbonds.Answer:A27)Thepresenceoftransactioncostsinfinancialmarketsexplains,inpart,whyA)financialintermediariesandindirectfinanceplaysuchanimportantroleinfinancialmarkets.B)equityandbondfinancingplaysuchanimportantroleinfinancialmarkets.C)corporationsgetmorefundsthroughequityfinancingthantheygetfromfinancialintermediaries.D)directfinancingismoreimportantthanindirectfinancingasasourceoffunds.Answer:A28)FinancialintermediariescansubstantiallyreducetransactioncostsperdollaroftransactionsbecausetheirlargesizeallowsthemtotakeadvantageofA)poorlyinformedconsumers.B)standardization.C)economiesofscale.D)theirmarketpower.Answer:C29)ThepurposeofdiversificationistoA)reducethevolatilityofaportfolio'sreturn.B)raisethevolatilityofaportfolio'sreturn.C)reducetheaveragereturnonaportfolio.D)raisetheaveragereturnonaportfolio.Answer:A30)Aninvestorwhoputsallherfundsintooneasset________herportfolio's________.A)increases;diversificationB)decreases;diversificationC)increases;averagereturnD)decreases;averagereturnAnswer:B31)Throughrisk-sharingactivities,afinancialintermediary________itsownriskand________therisksofitscustomers.A)reduces;increasesB)increases;reducesC)reduces;reducesD)increases;increasesAnswer:B32)Thepresenceof________infinancialmarketsleadstoadverseselectionandmoralhazardproblemsthatinterferewiththeefficientfunctioningoffinancialmarkets.A)noncollateralizedriskB)free-ridingC)asymmetricinformationD)costlystateverificationAnswer:C

33)Whenthelenderandtheborrowerhavedifferentamountsofinformationregardingatransaction,________issaidtoexist.A)asymmetricinformationB)adverseselectionC)moralhazardD)fraudAnswer:A34)Whenthepotentialborrowerswhoarethemostlikelytodefaultaretheonesmostactivelyseekingaloan,________issaidtoexist.A)asymmetricinformationB)adverseselectionC)moralhazardD)fraudAnswer:B35)Whentheborrowerengagesinactivitiesthatmakeitlesslikelythattheloanwillberepaid,________issaidtoexist.A)asymmetricinformationB)adverseselectionC)moralhazardD)fraudAnswer:C36)TheconceptofadverseselectionhelpstoexplainA)whichfirmsaremorelikelytoobtainfundsfrombanksandotherfinancialintermediaries,ratherthanfromthesecuritiesmarkets.B)whyindirectfinanceismoreimportantthandirectfinanceasasourceofbusinessfinance.C)whydirectfinanceismoreimportantthanindirectfinanceasasourceofbusinessfinance.D)onlyAandBoftheabove.E)onlyAandCoftheabove.Answer:D37)AdverseselectionisaproblemassociatedwithequityanddebtcontractsarisingfromA)thelender'srelativelackofinformationabouttheborrower'spotentialreturnsandrisksofhisinvestmentactivities.B)thelender'sinabilitytolegallyrequiresufficientcollateraltocovera100percentlossiftheborrowerdefaults.C)theborrower'slackofincentivetoseekaloanforhighlyriskyinvestments.D)noneoftheabove.Answer:A

38)Whentheleastdesirablecreditrisksaretheonesmostlikelytoseekloans,lendersaresubjecttotheA)moralhazardproblem.B)adverseselectionproblem.C)shirkingproblem.D)free-riderproblem.E)principal-agentproblem.Answer:B39)Successfulfinancialintermediarieshavehigherearningsontheirinvestmentsbecausetheyarebetterequippedthanindividualstoscreenoutgoodfrombadrisks,therebyreducinglossesduetoA)moralhazard.B)adverseselection.C)badluck.D)financialpanics.Answer:B40)Infinancialmarkets,lenderstypicallyhaveinferiorinformationaboutpotentialreturnsandrisksassociatedwithanyinvestmentproject.ThisdifferenceininformationiscalledA)comparativeinformationaldisadvantage.B)asymmetricinformation.C)variantinformation.D)caveatvenditor.Answer:B41)Whichofthefollowingfinancialintermediariesaredepositoryinstitutions?A)AsavingsandloanassociationB)AcommercialbankC)AcreditunionD)AlloftheaboveE)OnlyAandCoftheaboveAnswer:D42)Whichofthefollowingisacontractualsavingsinstitution?A)AlifeinsurancecompanyB)AcreditunionC)AsavingsandloanassociationD)AmutualfundAnswer:A

43)Whichofthefollowingarenotinvestmentintermediaries?

A)AlifeinsurancecompanyB)ApensionfundC)AmutualfundD)OnlyAandBoftheaboveAnswer:D44)Whichofthefollowingareinvestmentintermediaries?A)FinancecompaniesB)MutualfundsC)PensionfundsD)AlloftheaboveE)OnlyAandBoftheaboveAnswer:E45)Thegovernmentregulatesfinancialmarketsfortwomainreasons:A)toensuresoundnessofthefinancialsystemandtoincreasetheinformationavailabletoinvestors.B)toimprovecontrolofmonetarypolicyandtoincreasetheinformationavailabletoinvestors.C)toensurethatfinancialintermediariesdonotearnmorethanthenormalrateofreturnandtoimprovecontrolofmonetarypolicy.D)toensuresoundnessoffinancialintermediariesandtopreventfinancialintermediariesfromearninglessthanthenormalrateofreturn.Answer:A46)Asymmetricinformationcanleadtowidespreadcollapseoffina