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1/1第二單元金融考試題西南財(cái)經(jīng)大學(xué)天府學(xué)院-幼兒教育
FinancialMarketsandInstitutions,7e(Mishkin)Chapter2OverviewoftheFinancialSystem
2.1MultipleChoice
1)Everyfinancialmarketperformsthefollowingfunction:A)Itdeterminesthelevelofinterestrates.B)Itallowscommonstocktobetraded.C)Itallowsloanstobemade.
D)Itchannelsfundsfromlenders-saverstoborrowers-spenders.Answer:D
2)Financialmarketshavethebasicfunctionof
A)bringingtogetherpeoplewithfundstolendandpeoplewhowanttoborrowfunds.B)assuringthattheswingsinthebusinesscyclearelesspronounced.C)assuringthatgovernmentsneedneverresorttoprintingmoney.D)bothAandBoftheabove.E)bothBandCoftheabove.Answer:A
3)Whichofthefollowingcanbedescribedasinvolvingdirectfinance?A)Acorporation'sstockistradedinanover-the-countermarket.B)Peoplebuysharesinamutualfund.
C)Apensionfundmanagerbuyscommercialpaperinthesecondarymarket.
D)Aninsurancecompanybuyssharesofcommonstockintheover-the-countermarkets.E)Noneoftheabove.Answer:E
4)Whichofthefollowingcanbedescribedasinvolvingdirectfinance?A)Acorporation'sstockistradedinanover-the-countermarket.
B)Acorporationbuyscommercialpaperissuedbyanothercorporation.
C)Apensionfundmanagerbuyscommercialpaperfromtheissuingcorporation.D)BothAandBoftheabove.E)BothBandCoftheabove.Answer:B
5)Whichofthefollowingcanbedescribedasinvolvingindirectfinance?A)Acorporationtakesoutloansfromabank.B)Peoplebuysharesinamutualfund.
C)Acorporationbuyscommercialpaperinasecondarymarket.D)Alloftheabove.
E)OnlyAandBoftheabove.Answer:E
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Copyright?2023PearsonEducation,Inc.
6)Whichofthefollowingcanbedescribedasinvolvingindirectfinance?A)AbankbuysaU.S.Treasurybillfromoneofitsdepositors.
B)Acorporationbuyscommercialpaperissuedbyanothercorporation.C)Apensionfundmanagerbuyscommercialpaperintheprimarymarket.D)BothAandCoftheabove.Answer:D
7)Financialmarketsimproveeconomicwelfarebecause
A)theyallowfundstomovefromthosewithoutproductiveinvestmentopportunitiestothosewhohavesuchopportunities.
B)theyallowconsumerstotimetheirpurchasesbetter.C)theyweedoutinefficientfirms.D)theydoalloftheabove.
E)theydoAandBoftheabove.Answer:E
8)AcountrywhosefinancialmarketsfunctionpoorlyislikelytoA)efficientlyallocateitscapitalresources.B)enjoyhighproductivity.
C)experienceeconomichardshipandfinancialcrises.D)increaseitsstandardofliving.Answer:C
9)Whichofthefollowingaresecurities?A)Acertificateofdeposit
B)AshareofTexacocommonstockC)ATreasurybillD)Alloftheabove
E)OnlyAandBoftheaboveAnswer:D
10)Whichofthefollowingstatementsaboutthecharacteristicsofdebtandequityaretrue?A)Theybothcanbelong-termfinancialinstruments.B)Theybothinvolveaclaimontheissuer'sincome.C)Theybothenableacorporationtoraisefunds.D)Alloftheabove.
E)OnlyAandBoftheabove.Answer:D
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Copyright?2023PearsonEducation,Inc.
11)Themoneymarketisthemarketinwhich________aretraded.A)newissuesofsecuritiesB)previouslyissuedsecuritiesC)short-termdebtinstruments
D)long-termdebtandequityinstrumentsAnswer:C
12)Long-termdebtandequityinstrumentsaretradedinthe________market.A)primaryB)secondaryC)capitalD)moneyAnswer:C
13)Whichofthefollowingareprimarymarkets?A)TheNewYorkStockExchangeB)TheU.S.governmentbondmarketC)Theover-the-counterstockmarketD)TheoptionsmarketsE)NoneoftheaboveAnswer:E
14)Whichofthefollowingaresecondarymarkets?A)TheNewYorkStockExchangeB)TheU.S.governmentbondmarketC)Theover-the-counterstockmarketD)TheoptionsmarketsE)AlloftheaboveAnswer:E
15)AcorporationacquiresnewfundsonlywhenitssecuritiesaresoldintheA)secondarymarketbyaninvestmentbank.B)primarymarketbyaninvestmentbank.
C)secondarymarketbyastockexchangebroker.D)secondarymarketbyacommercialbank.Answer:B
16)IntermediarieswhoareagentsofinvestorsandmatchbuyerswithsellersofsecuritiesarecalledA)investmentbankers.B)traders.C)brokers.D)dealers.
E)noneoftheabove.Answer:C
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Copyright?2023PearsonEducation,Inc.
17)IntermediarieswholinkbuyersandsellersbybuyingandsellingsecuritiesatstatedpricesarecalledA)investmentbankers.B)traders.C)brokers.D)dealers.
E)noneoftheabove.Answer:D
18)Animportantfinancialinstitutionthatassistsintheinitialsaleofsecuritiesintheprimarymarketisthe
A)investmentbank.B)commercialbank.C)stockexchange.D)brokeragehouse.Answer:A
19)Whichofthefollowingstatementsaboutfinancialmarketsandsecuritiesaretrue?
A)Mostcommonstocksaretradedover-the-counter,althoughthelargestcorporationshavetheirsharestradedatorganizedstockexchangessuchastheNewYorkStockExchange.
B)Acorporationacquiresnewfundsonlywhenitssecuritiesaresoldintheprimarymarket.
C)Moneymarketsecuritiesareusuallymorewidelytradedthanlonger-termsecuritiesandsotendtobemoreliquid.
D)Alloftheabovearetrue.
E)OnlyAandBoftheabovearetrue.Answer:D
20)Whichofthefollowingstatementsaboutfinancialmarketsandsecuritiesaretrue?
A)Abondisalong-termsecuritythatpromisestomakeperiodicpaymentscalleddividendstothefirm'sresidualclaimants.
B)Adebtinstrumentisintermediatetermifitsmaturityislessthanoneyear.C)Adebtinstrumentislongtermifitsmaturityistenyearsorlonger.
D)Thematurityofadebtinstrumentisthetime(term)thathaselapsedsinceitwasissued.Answer:C
21)Whichofthefollowingstatementsaboutfinancialmarketsandsecuritiesaretrue?
A)Fewcommonstocksaretradedover-the-counter,althoughtheover-the-countermarketshavegrowninrecentyears.
B)Acorporationacquiresnewfundsonlywhenitssecuritiesaresoldintheprimarymarket.
C)Capitalmarketsecuritiesareusuallymorewidelytradedthanlonger-termsecuritiesandsotendtobemoreliquid.
D)Alloftheabovearetrue.
E)OnlyAandBoftheabovearetrue.Answer:B
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Copyright?2023PearsonEducation,Inc.
22)Whichofthefollowingmarketsissometimesorganizedasanover-the-countermarket?A)ThestockmarketB)Thebondmarket
C)TheforeignexchangemarketD)ThefederalfundsmarketE)alloftheaboveAnswer:E
23)Bondsthataresoldinaforeigncountryandaredenominatedinthatcountry'scurrencyareknownasA)foreignbonds.B)Eurobonds.C)Eurocurrencies.D)Eurodollars.Answer:A
24)BondsthataresoldinaforeigncountryandaredenominatedinacurrencyotherthanthatofthecountryinwhichtheyaresoldareknownasA)foreignbonds.B)Eurobonds.C)Eurocurrencies.D)Eurodollars.Answer:B
25)Financialintermediaries
A)existbecausetherearesubstantialinformationandtransactioncostsintheeconomy.B)improvethelotofthesmallsaver.
C)areinvolvedintheprocessofindirectfinance.D)doalloftheabove.
E)doonlyAandBoftheabove.Answer:D
26)T
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