兹维博迪金融学第二版试题库2TB.docVIP

Chapter Two Financial Markets and Institutions This chapter contains 49 multiple-choice questions, 20 short problems and 10 longer problems. Multiple Choice 1. A market that has no one specific location is termed a(n) ________ market. over-the-counter geographic location intermediary conceptual Answer: (a) 2. ________ problems arise because parties to contracts often cannot easily monitor or control one another. Payment Counter Incentive Exchange Answer: (c) 3. Incentive problems take a variety of forms and include: moral hazard adverse selection principal-agent all of the above Answer: (d) 4. The ________ problem exists when having insurance against some risk causes the insured party to take greater risk or to take less care in preventing the event that gives rise to the loss. moral hazard adverse selection principal-agent all of the above Answer: (a) 5. Life annuities are examples of ________ problems. moral hazard adverse selection principal-agent all of the above Answer: (b) 6. ________ means giving the lender the right to seize specific business assets in the event of default. Increasing moral hazard Increasing adverse selection Collateralization of loans All of the above Answer: (c) 7. ________ instruments are also called fixed-income instruments. Debt Equity Derivative All of the above Answer: (a) 8. The market for short-term debt (less than one year) is called the ________ market, and the market for long-term debt and equity securities is called the ________ market. capital; money money; capital fixed-income; money derivative; equity Answer: (b) 9. ________ securities are financial instruments that derive their value from the prices of one or more other assets. Debt Equity Derivative Fixed-income Answer: (c) 10. A call option gives its holder the right to ________ some asset at a specified price on or before some specified expiration date. sell buy loan borrow Answer: (b) 11. A