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FIN 355 Quiz 3 Updated

FIN 355 Quiz 3 Updated
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FIN 355 Quiz 3 NEW

Question 1

Bonds issued by state and local governments to fund private projects are called
Question 2

You assess that one-year and three-year zero-coupon bonds are priced correctly but a two-year zero-coupon bond is overpriced. To take advantage of this mispricing, you should
Question 3

A bond that has no specific collateral to support it is
Question 4

If you buy a bond today, hold it to maturity, and reinvest coupons at a rate that exceeds the bond’s YTM, your realized yield will be
Question 5

The yield to maturity assumes that coupons are
Question 6

A fixed coupon rate bond has 12 years to maturity. After one year, its duration will become ______ and its value will become _______ sensitive to interest rate movements.
Question 7

Which of the following terms cannot be associated with corporate bonds?
Question 8

Bonds that are traded over-the-counter are traded
Question 9

Exchange-traded bonds are
Question 10

What is the duration of a 5-year zero-coupon bond if the discount rate is 6%?
Question 11    Which mortgage type dominates the mortgage markets?
Question 12   Single monthly mortality refers to

Question 13     The closed-form solution for valuing a portfolio of fixed-rate mortgages _______.
Question 14
After a single national mortgage market had developed as a result of disintermediation, the 30-year fixed-rate mortgage rates _____.
Question 15
Collateralized loans represent

Question 16

A prepayment option on a mortgage is similar to _______ on a bond.
Question 17

An adjustable-rate mortgage contract should specify all but one of the following:
Question 18

The interest in the asset held by the lender is called
Question 19

Computing a mortgage portfolio’s expected P&I payment is based on all but one of the following:
Question 20

All else equal, if interest rates unexpectedly increase, the actual cash flow of a variable-rate mortgage portfolio is likely to be _______ the expected cash flow.

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