投资学题库Chap001

1-1Copyright©2014McGraw-HillEducation.Allrightsreserved.NoreproductionordistributionwithoutthepriorwrittenconsentofMcGraw-HillEducation.Chapter01TheInvestmentEnvironmentMultipleChoiceQuestions1.ThematerialwealthofasocietyisafunctionofA.allfinancialassets.B.allrealassets.C.allfinancialandrealassets.D.allphysicalassets.2._______arerealassets.A.LandB.MachinesC.StocksandbondsD.KnowledgeE.Land,machines,andknowledge1-2Copyright©2014McGraw-HillEducation.Allrightsreserved.NoreproductionordistributionwithoutthepriorwrittenconsentofMcGraw-HillEducation.3.Themeansbywhichindividualsholdtheirclaimsonrealassetsinawell-developedeconomyareA.investmentassets.B.depositoryassets.C.derivativeassets.D.financialassets.E.exchange-drivenassets.4._______arefinancialassets.A.BondsB.MachinesC.StocksD.BondsandstocksE.Bonds,machines,andstocks5._________financialasset(s).A.BuildingsareB.LandisaC.DerivativesareD.U.S.agencybondsareE.DerivativesandU.S.agencybondsare1-3Copyright©2014McGraw-HillEducation.Allrightsreserved.NoreproductionordistributionwithoutthepriorwrittenconsentofMcGraw-HillEducation.6.FinancialassetsA.directlycontributetothecountry'sproductivecapacity.B.indirectlycontributetothecountry'sproductivecapacity.C.contributetothecountry'sproductivecapacitybothdirectlyandindirectly.D.donotcontributetothecountry'sproductivecapacityeitherdirectlyorindirectly.E.areofnovaluetoanyone.7.In2012,____________wasthemostsignificantrealassetofU.S.householdsintermsoftotalvalue.A.consumerdurablesB.automobilesC.realestateD.mutualfundsharesE.bankloans8.In2012,____________wastheleastsignificantfinancialassetofU.S.householdsintermsoftotalvalue.A.realestateB.mutualfundsharesC.debtsecuritiesD.lifeinsurancereservesE.pensionreserves1-4Copyright©2014McGraw-HillEducation.Allrightsreserved.NoreproductionordistributionwithoutthepriorwrittenconsentofMcGraw-HillEducation.9.In2012,____________wasthemostsignificantfinancialassetofU.S.householdsintermsoftotalvalue.A.realestateB.mutualfundsharesC.debtsecuritiesD.lifeinsurancereservesE.pensionreserves10.In2012,____________wasthemostsignificantassetofU.S.householdsintermsoftotalvalue.A.realestateB.mutualfundsharesC.debtsecuritiesD.lifeinsurancereservesE.pensionreserves11.In2012,____________wasthemostsignificantliabilityofU.S.householdsintermsoftotalvalue.A.creditcardsB.mortgagesC.bankloansD.studentloansE.otherdebt1-5Copyright©2014McGraw-HillEducation.Allrightsreserved.NoreproductionordistributionwithoutthepriorwrittenconsentofMcGraw-HillEducation.12.WhichofthefollowingfinancialassetsmadeupthegreatestproportionofthefinancialassetsheldbyU.S.households?A.PensionreservesB.LifeinsurancereservesC.MutualfundsharesD.DebtsecuritiesE.Personaltrusts13.In2012_______oftheassetsofU.S.householdswerefinancialassetsasopposedtotangibleassets.A.20.4%B.34.2%C.68.8%D.71.7%E.82.5%14.Thelargestcomponentofdomesticnetworthin2012wasA.nonresidentialrealestate.B.residentialrealestate.C.inventories.D.consumerdurables.E.equipmentandsoftware.1-6Copyright©2014McGraw-HillEducation.Allrightsreserved.NoreproductionordistributionwithoutthepriorwrittenconsentofMcGraw-HillEducation.15.Thesmallestcomponentofdomesticnetworthin2012wasA.nonresidentialrealestate.B.residentialrealestate.C.inventories.D.consumerdurables.E.equipmentandsoftware.16.ThenationalnetworthoftheU.S.in2012wasA.$15.411trillion.B.$26.431trillion.C.$42.669trillion.D.$48.616trillion.E.$70.983trillion.17.Afixed-incomesecuritypaysA.afixedlevelofincomeforthelifeoftheowner.B.afixedstreamofincomeorastreamofincomethatisdeterminedaccordingtoaspecifiedformulaforthelifeofthesecurity.C.avariablelevelofincomeforownersonafixedincome.D.afixedorvariableincomestreamattheoptionoftheowner.1-7Copyright©2014McGraw-HillEducation.Allrightsreserved.NoreproductionordistributionwithoutthepriorwrittenconsentofMcGraw-HillEducation.18.AdebtsecuritypaysA.afixedlevelofincomeforthelifeoftheowner.B.avariablelevelofincomeforownersonafixedincome.C.afixedorvariableincomestreamattheoptionoftheowner.D.afixedstreamofincomeorastreamofincomethatisdeterminedaccordingtoaspecifiedformulaforthelifeofthesecurity.19.MoneymarketsecuritiesA.areshortterm.B.arehighlymarketable.C.aregenerallyverylowrisk.D.arehighlymarketableandaregenerallyverylowrisk.E.Alloftheoptions20.AnexampleofaderivativesecurityisA.acommonshareofMicrosoft.B.acalloptiononIntelstock.C.acommodityfuturescontract.D.acalloptiononIntelstockandacommodityfuturescontract.E.acommonshareofMicrosoftandacalloptiononIntelstock.1-8Copyright©2014McGraw-HillEducation.Allrightsreserved.NoreproductionordistributionwithoutthepriorwrittenconsentofMcGraw-HillEducation.21.ThevalueofaderivativesecurityA.dependsonthevalueoftherelatedsecurity.B.isunabletobecalculated.C.isunrelatedtothevalueoftherelatedsecurity.D.hasbeenenhancedduetotherecentmisuseandnegativepublicityregardingtheseinstruments.E.isworthlesstoday.22.Althoughderivativescanbeusedasspeculativeinstruments,businessesmostoftenusethemtoA.attractcustomers.B.appeasestockholders.C.offsetdebt.D.hedgerisks.E.enhancetheirbalancesheets.23.Fina