exam 1 practice利率计入商业银行和其他存款机构从联邦储备了贷款贴现窗口

WhatisthediscountTheinterestratechargedtocommercialbanksandotherdepositoryinstitutionsforloansreceivedfromtheFederalReserveBank’sdiscountWindow.Thediscountratealsoreferstotheinterestratedusedindiscountwindow.Thediscountratealsoreferstotheinterestrateusedindiscountedcashflow(DCF) ysistodeterminethepresentvalueoffuturecashflows.ThediscountrateinDCF ysistakesintoaccountnotjustthetimevalueofmoney,butalsotheriskoruncertaintyoffuturecashflows;thegreatertheuncertaintyoffuturescashflows,thehigherthediscountrate.Athirdmeaningoftheterm“discountrate”istherateusedbypensionnsandinsurancecompaniesfordiscountingtheirliabilities.利率计入商业银行和其他存款机构从储备银行获得了贴现窗口贴现率也指的是用于在利率贴现现金流（DCF）分析，以确定现值未来的现金流。在DCF分析贴现率考虑到不只是的时间价值，也是未来现金流的风险或不确定性更大的未来现金流的不确定性，较高的折价率。所谓“折扣率”的第三层含义是所采用的利率计划的和公司扣除其。WhatisthereserveRequirementsregardingtheamountoffundsthatbanksmustholdinreserveagainstdepositsmadebytheircustomers.Thismoneymustbeinthebank'svaultsorattheclosestFederalReservebank.关于银行必须持有的准备金对他们的客户的存款量的要求。这笔钱必须在银行的金库，或在最近的联IfinterestratesrisewhathappenstobondTheamountcharged,expressedasapercentageofprincipal,byalendertoaborrowerfortheuseofassets.Interestratesaretypicallynotedonanannualbasis,knownastheannualpercentagerate(APR).Theassetsborrowedcouldinclude,cash,consumergoods,largeassets,suchasavehicleorbuilding.Interestisessentiallyarental,orleasingchargetotheborrower,fortheasset'suse.Inthecaseofalargeasset,likeavehicleorbuilding,theinterestrateissometimesknownasthe"leaserate".Whentheborrowerisalow-riskparty,theywillusuallybechargedalowinterestrate;iftheborrowerisconsideredhighrisk,theinterestratethattheyarechargedwillbehigher.充电量，表示为一个百分比主要由一个贷方到借款人的使用资产。利率通常在一个年度，被称为年利率”。当借款人是一个低风险的一方，他们通常会收取低利率如果借款人被认为是高风险的，他们收取的Thepriceorvalueofabondisdeterminedbydiscountingthebond'sexpectedcashflowstothepresentusingtheappropriatediscountrate.ThisrelationshipisexpressedforasemiannualcouponbondbythefollowingB0=thebondC=theannualcouponpayment,F=thefacevalueofthebond,r=therequiredreturnonthebond,t=thenumberofyearsremaininguntilB0C每年付息，FR=在债券所要求的回报，T剩余到期日之前，年数。WhatarethefivemajorpartsoftheFederalTheiallyappointedBoardof ernors(orFederalReserveBoard),anindependentfederal agencylocatedinWashington,D.C.TheFederalOpenMarketCommittee(FOMC),composedofthesevenmembersoftheFederalReserveBoardandfiveofthetwelveFederalReserveBanks,whichoverseesopenmarketoperations,theprincipaltoolofU.S.monetaryTwelveregionalFederalReserveBankslocatedinmajorcitiesthroughoutthenation,whichdividethenationintotwelveFederalReservedistrict.TheFederalReserveBanksactasfiscalagentsfortheU.S.Treasury,andeachhasitsownnine-memberboardofdirectors.NumerousotherprivateU.S.memberbanks,whichownrequiredamountsofnon-transferablestockintheirregionalFederalReserveBanks.Variousadvisory州长的总统任命的董事会（或储备),一个独立的机构设在特在公开市场（FOMC）储备的七名成员和五个十二个储备银行行长组成的，负责监督公开市场操作，的主要工具的货币政策。 储备银行位于主要城市在各地，其国家切成十二储备区。储备银 许多其他的私人银行会员，其中拥有在其地区性储备银行所需量的不可转让IfthedollarrisesagainsttheEurowillaGermancarbemoreexpensivetoGermansortoWhatisthemoneyTheentirestockofcurrencyandotherliquidinstrumentsinacountry'seconomyasofaparticulartime.Themoneysupplycanincludecash,coinsandbalancesheldincheckingandsavingsaccounts.Economists yzethemoneysupplyanddeveloppoliciesrevolvingarounditthroughcontrollinginterestratesandincreasingordecreasingtheamountofmoneyflowingintheeconomy.Moneysupplydataiscollected,recordedandpublishedperiodically,typicallybythecountry's ernmentorcentralbank.Publicandprivatesector ysisisperformedbecauseofthemoneysupply'spossibleimpactsonpricelevel,inflationandthebusinesscycle.IntheUnitedStates,theFederalReserveisthemostimportantdecidingfactorinthemoneysupply.现金，硬币和结余储蓄账户。分析货币供应量和开发，通过围绕它旋转政策的控股权率和增加或减少流动的经济量。货币供应量数据的收集，记录并定期公布，通常由国家的或。公共和私营部门的分析，是因为对货币供应的可能影响进行的物价水平，通胀和经济周期。在，美联储的WhatisthedifferencebetweenbarteringandTheactoftradinggoodsandservicesbetweentwoormorepartieswithouttheuseofmoney.Barteringbenefitsindividuals,companiesandcountriesthatseeamutualbenefitinexchanginggoodsandservicesratherthancash,anditenablesthosewhoarelackinghardcurrencytoobtaingoodsandservices.无需使用金钱两方或多方之间的贸物和服务的行为。以货有利于个人，公司和看到一个互惠互利WhoisJanetAleadingAmericaneconomist,JanetYellenservedasvicechairmanoftheFederalReserveBoardof since2010until ingthefirstwomanto echairoftheboardin2014.一家领先的，曾担任州长的储备自2010年起，直到成为第一位成为董事会在2014年。 Howmanystocksareselectedforthe;PoorAnindexof500stockschosenformarketsize,liquidityandindustrygrou,amongotherfactors.TheS&P500isdesignedtobealeadingindicatorofU.S.equitiesandismeanttoreflecttherisk/returncharacteristicsofthelargecapuniverse.CompaniesincludedintheindexareselectedbytheS&PIndexCommittee,ateamof ystsandeconomistsatStandard&Poor's.TheS&P500isamarketvalueweightedindex-eachstock'sweightisproportionatetoitsmarketvalue.纳入指数的公司都是由标准普尔指数，一队分析师和选定的在标准普尔。标准普尔500是一个市值指数-每只的权重比例，以它的市场价值。HowmanystocksareselectedfortheDowJonesIndustrial（指数WhatisanAnETF,orexchangetradedfund,isamarketablesecuritythattracksanindex,acommodity,bonds,orabasketofassetslikeanindexfund.Unlikemutualfunds,anETFtradeslikeacommonstockonastockexchange.ETFsexperiencepricechangesthroughoutthedayastheyareboughtandsold.ETFstypicallyhavehigherdailyliquidityandlowerfeesthanmutualfundshares,makingthemanattractivealternativeforindividualinvestors.所基金，是一种有价，索引，大宗商品，债券，或一篮子资产，像指数基金。不同于共同基金，ETF的像普通股的交换。ETF的经验，价格变动全天，他们现买现卖。所基金通常具有较高的日常流动性和较低的费用比共同基金，使他们对个人投资者有的选择。WhatisamutualAninvestmentvehiclethatismadeupofapooloffundscollectedfrommanyinvestorsforthepurposeofinvestinginsecuritiessuchasstocks,bonds,moneymarketinstrumentsandsimilarassets.Mutualfundsareoperatedbymoneymanagers,whoinvestthefund'scapitalandattempttoproducecapitalgainsand eforthefund'sinvestors.Amutualfund'sportfolioisstructuredandmaintainedtomatchtheinvestmentobjectivesstatedinits一种投资工具是由许多投资者收集的用途池的投资，如，债券，工具和类似资产。共同基金是由经营基金经理，谁投资基金的，并试图产生资本收益和收入基金的投资者。一个共同基金的投资组合的结构和，以符合投资目标在规定的招股说明书。AdvantagesanddisadvantagesofissuingWhatisacapitalAnincreaseinthevalueofacapitalasset(investmentorrealestate)thatgivesitahigherworththanthepurchaseprice.Thegainisnotrealizeduntiltheassetissold.Acapitalgainmaybeshortterm(oneyearorless)orlongterm(morethanoneyear)andmustbeclaimedon etaxes.Acapitallossisincurredwhenthereisadecreaseinthecapitalassetvaluecomparedtoanasset'spurchaseprice.Profitthatresultswhenthepriceofasecurityheldbyamutualfundrisesaboveitspurchasepriceandthesecurityissold(realizedgain).Ifthesecuritycontinuestobeheld,thegainisunrealized.Acapitallosswouldoccurwhentheoppositetakesce.在的价值增加了资本资产（投资或房地产），赋予其比价格更高的价值。增益不能实现直到该资产时，有在相对于资产的价款资本资产价值的降低费用。利润导致当由相互持有的价格基金高于其价格和安全性（已实现收益）。如果安全继续持5keycriteriatoconsiderwhenselectinginvestmentoptions?Anassetoritemthatispurchasedwiththehopethatitwillgenerate eorappreciateinthefuture.Inaneconomicsense,aninvestmentisthepurchaseofgoodsthatarenotconsumedtodaybutareusedinthefuturetocreatewealth.Infinance,aninvestmentisamonetaryassetpurchasedwiththeideathattheassetwillprovideeinthefutureorappreciateandbesoldatahigher耗，但在将来被用来创造的货物。在金融，投资与想法的资产将提供收入在未来或欣赏，并以较高的AdvantagesanddisadvantagesofissuingWhatareAdividendisadistributionofaportionofa 'searnings,decidedbytheboardofdirectors,toaclassofitsshareholders.Dividendscanbeissuedascashpayments,assharesofstock,orotherproperty.股息是一个分布的公司的，由董事会决定的部分，一类股东。股息可以发出为现金支付，作为或WhatistheroleofthesecurityandExchange ernmentcommissioncreatedbyCongresstoregulatethesecuritiesmarketsandprotectinvestors.Inadditiontoregulationandprotection,italsomonitorsthecorporatetakeoversintheU.S.TheSECiscomposedoffivecommissionersappointedbytheU.S. andapprovedbytheSenate.ThestatutesadministeredbytheSECaredesignedtopromotefullpublicdisclosureandtoprotecttheinvestingpublicagainstfraudulentandmanipulativepracticesinthesecuritiesmarkets.Generally,mostissuesofsecuritiesofferedininterstatecommerce,throughthemailorontheinternetmustberegisteredwiththeSEC.通过创建一个会议，以规范市场和保护投资者。除了调节和保护，同时也企业收购美 是由任命，并经参议院批准五名委员。由 管理的旨在促进充分公开披露，保护公众投资者对市场和行为。一般来说，在州际贸易提供，通过邮件或互联网上的大部分问题都必须登记在 Protecttheinvestorsand WhatdoesasecondarymarketAmarketwhereinvestorspurchasesecuritiesorassetsfromotherinvestors,ratherthanfromissuingcompaniesthemselves.Thenationalexchanges-suchastheNewYorkStockExchangeandtheNASDAQaresecondarySecondarymarketsexistforothersecuritiesaswell,suchaswhenfunds,investmentbanks,orentitiessuchasFannieMaepurchasemortgagesfromissuinglenders.Inanysecondarymarkettrade,thecashproceedsgotoaninvestorratherthantotheunderlying /entitydirectly.A场，投资者与其他投资者或资产，而不是从公司本身。国家交流-如纽约所和对于其他的二级市场也同样存在，当基金，如投资银行，或如机构的人住房抵押。在任何二级市场，现金收益去一个投资者，而不是底层的公司/直接实体。whatisleverageandhowtofirmsuseTheuseofvariousfinancialinstrumentsorborrowedcapital,suchasmargin,toincreasethepotentialreturnofanTheamountofdebtusedtofinanceafirm'sassets.Afirmwithsignificantlymoredebtthanequityisconsideredtobehighlyleveraged.用于资助企业的资产负债量。比显著的公司股权被认为是高杠杆。杠杆率是最常用的房地产通过使用抵押住房。DifferentmeansoflongtermBusinessesneedlong-termfinancingforacquiringnewequipment,R&D,cashflowenhancementand长期Fundingobtainedforatimeframeexceedingoneyearinduration.Whenabusinessborrowsfromabankusinglong-termfinancemethods,itexpectstopaybacktheloanovermorethanaoneyearperiod.Forexample,thismightincludemakingpaymentsona20yearmortgage.Anotherlong-termfinanceexamplewouldbeissuing如果得到了时限超过一年的时间。当一个企业从借款银行利用长期融资方式，预计到付回在超过一年的时间。例如，这可能包括使支付对20年的按揭。另一种是长期融资的例子是。DifferentmeansofshorttermShort-termfinancingcanbeusedoveraperiodofuptoayeartohelpcorporationsincreaseinventoryorders,payrollsanddailys.Long-termfinancingisgenerallyforassetsandprojectsandshorttermfinancingistypicallyforcontinuingWhatisfactoringandwhattypeofbusinesswouldusethisFactoringisafinancialtransactionandatypeofdebtorfinanceinwhichabusinesssellsitsaccountsreceivable(i.e.,s)toathirdparty(calledafactor)atadiscount.Abusinesswillsometimesfactoritsreceivableassetstoitspresentandimmediatecashneeds.Forfaitingisafactoringarrangementusedininternationaltradefinancebyexporterswhowishtoselltheirreceivablestoaforfaiter.Afinancingmethodinwhichabusinessownersellsaccountsreceivableatadiscounttoathird-partyfundingsourcetoraisecapital.Oneoftheoldestformsofbusinessfinancing,factoringisthecash-managementtoolofchoiceformanycompanies.Factoringisverycommonincertainindustries,suchastheclothingindustry,wherelongreceivablesarepartofthebusinesscycle.在一个企业的所有者应收账款折价为第来源筹金融资性方法由于因素信贷不是他们的客户，但他们的客户的客户，他们更关心的是客户的付出比客户的财务状况保理是不;它不会创建在资产负债表中的负债或抵押资产。它是资产销售的-在这种情况下，该。银行，保理费用。但是，如果你不能有资格获得，也没关系利率是什么。因素亦提供银行WhatisthedifferencebetweendebtfinancingandequityDebtFinancing:Debtfinancingreferstofundsraisedthroughvariousformsofborrowingthatmustberepaid.EquityFinancing:Equityfinancingismoneyraisedfromwithinthefirm,fromoperationsorthroughthesaleofownershipinthefirm(stock).WhatisthemajorappealofjunkbondsandwhatmakesthematemptingAcolloquialtermforahigh-yieldornon-investmentgradebond.Junkbondsare einstrumentsthatcarryaratingof'BB'orlowerbyStandard&Poor's,or'Ba'orbelowbyMoody's.Junkbondsaresocalledbecauseoftheirhigherdefaultriskinrelationtoinvestment-gradebonds.指高收益和非投资级债券。债券是固定收益携带一个乐器“BB”的或低标准普尔，或“BA”等于或低于穆迪的。债券是所谓的，因为其较高的违约风险相对于投资级债券。Whatisthedifferencebetweenacapitalbudgetandacashbudget?CapitalbudgetTheprocessinwhichabusinessdetermineswhetherprojectssuchasbuildinganewntorinvestinginalong-termventureareworthpursuing.Oftentimes,aprospectiveproject'slifetimecashinflowsandoutflowsareassessedinordertodeterminewhetherthereturnsgeneratedmeetasufficienttargetben CashAnestimationofthecashinflowsandoutflowsforabusinessorindividualforaspecificperiodoftime.Cashbudgetsareoftenusedtoassesswhethertheentityhassufficientcashtofulfillregularoperationsand/orwhethertoomuchcashisbeingleftinunproductivecapacities.WhatisaccountingCollecting yzingdatafromtransactionsandPuttingtransactionsintothegeneraljournal.Postingentriestothegeneralledger.Preparinganunadjustedtrialbalance.Adjustingentriesappropriay.PreparinganadjustedtrialOrganizingtheaccountsintothefinancialstatements.Closingthebooks.Preparingapost-closingtrialbalancetocheckthe收集和分析来自和的数据。把成普通账。 Whatlegislationwascreatedforr