Larger size debt issues normally have:
A. greater yield spread.
B. the same yield spread with smaller size debt issues.
C. lower yield spread.
第1题
A U.S. investor has purchased a tax-exempt 10-year municipal bond at a yield of 3.75% which is 100 basis points less than the yield on a 10-year option-free U.S. Treasury. If the investor’s marginal tax rate is 33.5%, then taxable equivalent yield and the yield ratio is closest to:
Taxable equivalent yield Yield ratio
A. 7.14 0.79
B. 5.64 0.79.
C. 5.64 1.19.
第2题
An investor whose marginal tax rate is 35% is analyzing a tax-exempt bond offering a yield of 5.40%. The tax-equivalent yield of the bond isclosest to:
A. 8.31%.
B. 3.51%.
C. 6.94%.
第3题
According to the Liquidity Preference Theory, if the yield curve is upward sloping, expectations of short-term rates in the future:
A. must be rising.
B. must be declining.
C. can either be rising or declining.
第4题
According to the Liquidity Preference Theory, is the term structure of interest rates most likely related to:
A. expectations about future rates.
B. interest rate risk.
C. both expectations about future rates and interest rate risk.
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