第二单元-金融考试题-西南财经大学天府学院

1Copyright©2012PearsonEducation,Inc.FinancialMarketsandInstitutions,7e(Mishkin)Chapter2OverviewoftheFinancialSystem2.1MultipleChoice1)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:E2Copyright©2012PearsonEducation,Inc.6)Whichofthefollowingcanbedescribedasinvolvingindirectfinance?A)AbankbuysaU.S.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:D3Copyright©2012PearsonEducation,Inc.11)Themoneymarketisthemarketinwhich________aretraded.A)newissuesofsecuritiesB)previouslyissuedsecuritiesC)short-termdebtinstrumentsD)long-termdebtandequityinstrumentsAnswer:C12)Long-termdebtandequityinstrumentsaretradedinthe________market.A)primaryB)secondaryC)capitalD)moneyAnswer:C13)Whichofthefollowingareprimarymarkets?A)TheNewYorkStockExchangeB)TheU.S.governmentbondmarketC)Theover-the-counterstockmarketD)TheoptionsmarketsE)NoneoftheaboveAnswer:E14)Whichofthefollowingaresecondarymarkets?A)TheNewYorkStockExchangeB)TheU.S.governmentbondmarketC)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:C4Copyright©2012PearsonEducation,Inc.17)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,al