02.单选题 收藏 标记 纠错 Which of the following statements about the call feature is least accurate? The: A call feature lengthens the bond's duration, increasing price risk. B call feature exposes investors to additional reinvestment rate risk. C call feature reduces the bond's capital appreciation potential. 问：这题解释一大堆，说到了duration。不用duration的理论，光想那个图 判断price risk A就能选出来了。我想问的是 这里的分级是 难题 这里的分级是什么标准，是协会的标准还是看 标准答案的长度分的？还是这是mock题 按题原 出处 分的？题目级别如果划分的？

01.单选题 已收藏 标记 纠错 Compared with fully amortized bond, the coupon payments of a similar partially amortized bond are: A Lower or equal. B Equal. C Higher or equal. 查看解析 下一题 正确答案C 您的答案C本题平均正确率：50% Principal repayment strcutures难度：困难 推荐：      答案解析 Except at maturity, the principal repayments are lower for a partially amortized bond than for an otherwise similar fully amortized bond. Consequently, the principal amounts outstanding and, therefore, the amounts of interest payments are higher for a partially amortized bond than for a fully amortized bond, all else equal. The only exception is the first interest payment, which is the same for both repayment structures. This is because no principal repayment has been made by the time the first coupon is paid. 问：是不是应该是除了到期日 也就是最后一笔 两边本金都还完了，即（coupon是0 ？）会相等？最后一笔的coupon到底是不是0，最后一遍的coupon怎么算的？

问：这种题分析了好久，请问是真题还是mock题？感觉即使做出来性价比也不是很值？如果在考试中分别出哪些题一秒钟能做出来，那些题需要概念很清晰 一点不差的推出来（即使是定性题）？

问：第三个 MBS的抵押物究竟是 房屋贷款 还是房子本身？

请问老师，fair value model 与revaluation model有什么区别？

18.单选题 已收藏 标记 纠错 The most important LIBOR rate for funded investors is the: A 20 year rate. B 1 year or less rate. C 10 year rate. 上一题 下一题 正确答案B 您的答案C本题平均正确率：85% Coupon payment structures难度：一般 推荐：      答案解析 A funded investor is one who borrows to invest. These investors typically borrow short-term and the interest rate on their loan is typically short-term LIBOR plus a margin (e.g. LIBOR plus 30 basis points). funded investors 咋翻译？

03.单选题 收藏 标记 纠错 In a single-price bond auction, an investor who places a competitive bid and specifies a rate that is above the rate determined at auction will most likely: A not receive any bonds. B receive the bonds at the rate determined at auction. C Receive the bonds at the rate specified in the investor's competitive bid. 查看解析 上一题 提交试卷 正确答案A 您的答案B本题平均正确率：25% Primary and secondary market for bonds难度：困难 推荐：      答案解析 A is correct. In a single-price bond auction, a bidder that enters a competitive bid specifies the rate (yield) that is considered acceptable. If the rate specified in the competitive bid is above the coupon rate determined at auction, the investor will not be offered any securities. 问：国债拍卖竞价的模式，能否简单说明一下，难道不是价高者得？

请问老师，CV中的下方均值为什么是算术平均而不是加权平均

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bank reserve越大，为啥MS越大？按照图中示例，商行有100，reserve requirement是10，贷出去70，bank reserve是20。如果bank reserve增大，比如由20增大到30，那么贷出去的钱就减少10，由70减少到60，那MS相应地应该减少才对啊！不明白