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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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