金融市場(chǎng)與機(jī)構(gòu)（第六版）測(cè)試銀行 ch24

FinancialMarketsandInstitutions,6e(Mishkin/Eakins)

Chapter24RiskManagementinFinancialInstitutions

24.1MultipleChoice

1)Banksfacetheproblemofinloanmarketsbecausebadcreditrisksaretheones

mostlikelytoseekbankloans.

A)adverseselection

B)moralhazard

C)moralsuasion

D)intentionalfraud

Answer:A

QuestionStatus:PreviousEdition

2)Ifborrowerswiththemostriskyinvestmentprojectsaremorelikelytoseekbankloansthan

borrowerswiththesafestinvestmentprojects,banksfacetheproblemof

A)adversecreditrisk.

B)adverseselection.

C)moralhazard.

D)conflictofinterest.

Answer:B

QuestionStatus:PreviousEdition

3)Becauseborrowers,oncetheyhavealoan,aremorelikelytoinvestinhigh-riskinvestment

projects,banksfacethe

A)adverseselectionproblem.

B)lemonproblem.

C)adversecreditriskproblem.

D)moralhazardproblem.

Answer:D

QuestionStatus:PreviousEdition

4)Banks'attemptstosolveadverseselectionandmoralhazardproblemshelpexplainloan

managementprinciplessuchas

A)screeningandmonitoringofloanapplicants.

B)collateralandcompensatingbalances.

C)creditrationing.

D)alloftheabove.

E)onlyAandBoftheabove.

Answer:D

QuestionStatus:PreviousEdition

5)Inonesense,appearssurprisingsinceitmeansthatthebankisnotits

portfolioofloansandthusisexposingitselftomorerisk.

A)specializationinlending;diversifying

B)specializationinlending;rationing

C)creditrationing;diversifying

D)screening;rationing

Answer:A

QuestionStatus:PreviousEdition

6)Fromthestandpointof,specializationinlendingissurprisingbutmakesperfect

sensewhenoneconsiderstheproblem.

A)moralhazard;diversification

B)diversification;moralhazard

C)adverseselection;diversification

D)diversification;adverseselection

Answer:D

QuestionSialus:PreviousEdition

7)Provisionsinloancontractsthatproscribeborrowersfromengaginginspecifiedrisky

activitiesarecalled

A)proscriptionbonds.

B)collateralclauses.

C)restrictivecovenants.

D)liens.

Answer:C

QuestionStatus:PreviousEdition

8)Banksattempttoscreengoodfrombadcreditriskstoreducetheincidenceofloandefaults.

Todothis,banks

A)specializeinlendingtocertainindustriesorregions.

B)writerestrictivecovenantsintoloancontracts.

C)expendresourcestoacquireaccuratecredithistcriesoftheirpotentialloancustomers.

D)doalloftheabove.

Answer:D

QuestionStatus:PreviousEdition

9)Abank'scommitment(foraspecifiedfutureperiodoftime)toprovideafirmwithloansup

toagivenamountataninterestratethatistiedtoamarketinterestrateiscalled

A)creditrationing.

B)alineofcredit.

C)continuousdealings.

D)noneoftheabove.

Answer:B

QuestionStatus:PreviousEdition

10)Linesofcreditandlong-termrelationshipsbetweenbanksandtheircustomers

A)reducethecostsofinformationcollection.

B)makeiteasierforbankstoscreengoodfrombadrisks.

C)enablebankstodealwithmoralhazardcontingenciesthatareneitheranticipatednor

specifiedinrestrictivecovenants.

D)doalloftheabove.

E)doonlyAandBoftheabove.

Answer:D

QuestionSialus:PreviousEdition

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11)Compensatingbalances

A)areaparticularformofcollateralcommonlyrequiredoncommercialloans.

B)arearequiredirinimumamountoffundsthataborrower(i.e.zafirmreceivingaloan)

mustkeepinacheckingaccountatthebank.

C)allowbankstomonitorfirms'checkpaymentpracticeswhichcanyieldinformation

abouttheirborrowers'financialconditions.

D)alloftheabove.

Answer:D

QuestionStatus:PreviousEdition

12)Abankthatwantstomonitorthecheckpaymentpracticesofitscommercialborrowers,so

thatmoralhazardcanbeprevented,willrequireborrowersto

A)placeabankofficerontheirboardofdirectors.

B)placeacorporateofficeronthebank'sboardofdirectors.

C)keepcompensatingbalancesinacheckingaccountatthebank.

D)doalloftheabove.

E)doonlyAandBoftheabove.

Answer:C

QuestionStatus:PreviousEdition

13)Ofthefollowingmethodsthatbanksmightusetoreducemoralhazardproblems,theone

notlegallypermittedintheUnitedStatesistherequirementthat

A)firmskeepcompensatingbalancesatthebanksfromwhichtheyobtaintheirloans.

B)firmsplaceontheirboardofdirectorsanofficerfromthebank.

C)loancontractsincluderestrictivecovenants.

D)individualsprovidedetailedcredithistoriestobankloanofficers.

Answer:B

QuestionStatus:PreviousEdition

14)Whenalenderrefusestomakealoan,althoughborrowersarewillingtopaythestated

interestrateorevenahigherrate,itissaidtoengagein

A)constrainedlending.

B)strategicrefusal.

C)creditrationing.

D)collusivebehavior.

Answer:C

QuestionStatus:PreviousEdition

15)Whenalenderrefusestomakealoan,eventhoughborrowersarewillingtopaythestated

interestrateorevenahigherrate,itissaidtoengagein

A)specializedlending.

B)strategicrefusal.

C)diversifiedlending.

D)coercivebehavior.

E)noneoftheabove.

Answer:E

QuestionStatus:PreviousEdition

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21)Ifabankhasmorerate-sensitiveliabilitiesthanrate-sensitiveassets,thena(n)in

interestrateswillbankprofits.

A)increase;increase

B)increase;reduce

C)decline;reduce

D)decline;notaffect

Answer:B

QuestionSialus:PreviousEdition

22)Ifabankhasmorerate-sensitiveassetsthanrate-sensitiveliabilities,thena(n)in

interestrateswillbankprofits.

A)increase;increase

B)increase;reduce

C)decline;increase

D)decline;notaffect

Answer:A

QuestionStatus:PreviousEdition

23)Ifabankhasrate-sensitiveassetsthanrate-sensitiveliabilities,thena(n)

ininterestrateswillincreasebankprofits.

A)more;decline

B)more;increase

C)less;increase

D)bothAandC

Answer:B

QuestionStatus:PreviousEdition

24)Thedifferencebetweenrate-sensitiveliabilitiesandrate-sensitiveassetsisknownasthe

A)duration.

B)interest-sensitivityindex.

C)interest-rateriskindex.

D)g叩.

Answer:D

QuestionStatus:PreviousEdition

FirstNationalBank

AssetsLiabilities

Rate-sensitive$20million$50million

Fixed-rate$80million$40million

Table24.1

25)ReferringtoTable24.1,FirstNationalBankhasagapof.

A)-30

B)+30

C)60

D)0

Answer:A

QuestionStatus:PreviousEdition

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26)ReferringtoTable24.1,ifinterestratesriseby5percentagepoints,thenbankprofits

(measuredusinggapanalysis)will

A)declinebyS0.5million.

B)declineby$1.5million.

C)declinebyS2.5million.

D)increaseby$1.5million.

Answer:B

QuestionSialus:PreviousEdition

27)RefertoTable24.1.Assumingthattheaveragedurationofitsassetsisfiveyears,whilethe

averagedurationofitsliabilitiesisthreeyears,ariseininterestratesfrom5%to10%will

causethenetworthofFirstNationaltobyofthetotaloriginalasset

value.

A)increase;11%

B)decline;11%

C)increase;10%

D)decline;5%

Answer:B

QuestionStatus:PreviousEdition

FirstNationalBank

AssetsLiabilities

Rate-sensitive$40million$50million

Fixed-rate$60million$40million

Table24.2

28)ReferringtoTable24.2,FirstNationalBankhasagapof.

A)-10

B)10

C)20

D)0

Answer:A

QuestionStatus:PreviousEdition

29)ReferringtoTable24.2,ifinterestratesriseby5percentagepoints,thenbankprofits

(measuredusinggapanalysis)will

A)declineby$0.5million.

B)declineby$1.5million.

C)declineby$2.5million.

D)increaseby$2.0million.

Answer:A

QuestionStatus:PreviousEdition

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30)RefertoTable24.2.Assumingthattheaveragedurationofthebank'sassetsisfouryears,

whiletheaveragedurationofitsliabilitiesisthreeyears,ariseininterestratesfrom5

percentto10percentwillcausethenetworthofFirstNationaltobyof

thetotaloriginalassetvalue.

A)decline;5%

B)decline;1.3%

C)decline;6.2%

D)increase;5%

Answer:C

QuestionStatus:PreviousEdition

31)IfFirstStateBankhasagapequaltoapositive$20million,thena5percentagepointdropin

interestrateswillcauseprofitsto

A)increaseby$10million.

B)increaseby$1.0million.

C)declineby$10million.

D)declineby$1.0million.

Answer:D

QuestionStatus:PreviousEdition

32)IfFirstNationalBankhasagapequaltoanegative$30million,thena5percentagepoint

increaseininterestrateswillcauseprofitsto

A)increaseby$15million.

B)increaseby$1.5million.

C)declineby$15million.

D)declineby$1.5million.

Answer:D

QuestionStatus:PreviousEdition

33)Measuringthesensitivityofbankprofitstochangesininterestratesbymultiplyingthegap

timesthechangeintheinterestrateiscalled

A)basicdurationanalysis.

B)basicgapanalysis.

C)interest-exposureanalysis.

D)gap-exposureanalysis.

Answer:B

QuestionStatus:PreviousEdition

34)Measuringthesensitivityofbankprofitstochangesininterestratesbymultiplyingthegap

forseveralmaturitysubintervalsbythechangeintheinterestrateiscalled

A)basicgapanalysis.

B)thesegmentedmaturityapproachtogapanalysis.

C)thematuritybucketapproachtogapanalysis.

D)thesegmentedmaturityapproachtointerest-exposureanalysis.

E)noneoftheabove.

Answer:C

QuestionStatus:PreviousEdition

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35)Durationgapanalysis

A)isarefinementofbasicgapanalysisthataccountsforinterest-ratechangesovera

multiyearperiod.

B)isarefinementofbasicgapanalysisthataccountsforhowlongagapwilllast.

C)isacomplementtobasicgapanalysisthataccountsfortheeffectofinterestrate

changesonmarketvalue.

D)isacomplementtobasicgapanalysisthataccountsfortheinfluenceofpartially

rate-sensitiveassets.

Answer:C

QuestionStatus:PreviousEdition

36)Durationanalysisinvolvescomparingtheaveragedurationofthebank'stothe

averagedurationofits

A)securitiesportfolio;non-depositliabilities.

B)loanportfolio;non-depositliabilities.

C)loanportfolio;rate-sensitiveliabilities.

D)rate-sensitiveassets;rate-sensitiveliabilities.

E)assets;liabilities.

Answer:E

QuestionStatus:PreviousEdition

37)Tousetheconceptofdurationtoanalyzetheeffectofchangesininterestratesonthemarket

valueofanasset,abankmanagerwouldmultiply

A)thenegativeofthedurationoftheassetbythechangeintheinterestrate,AL

B)thenegativeofthedurationoftheassetbyA//(I+i).

C)thedurationoftheassetbythechangeintheinterestrate,Ai.

D)thedurationoftheassetbyAr/(I+i).

Answer:B

QuestionStatus:PreviousEdition

38)Ifabankhasadurationgapof2years,thenariseininterestratesfrom6percentto9

percentwillleadto

A)ariseinthemarketvalueofitsnetworthof5.66percent.

B)ariseinnetinterestincomeof5.66percent.

C)afallinthemarketvalueofitsnetworthof5.66percent.

D)afallinnetinterestincomeof5.66percent.

E)anunknownchange.

Answer:C

QuestionStatus:PreviousEdition

39)Ifabankhasadurationgapof2years,thenafallininterestratesfrom6percentto3percent

willleadto

A)ariseinthemarketvalueofitsnetworthof5.66percent.

B)afallinthemarketvalueofitsnetworthof5.66percent.

C)ariseinnetinterestincomeof5.66percent.

D)afallinnetinterestincomeof5.66percent.

E)anunknownchange.

Answer:A

QuestionStatus:PreviousEdition

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40)Ifadeclineininterestratescausesthemarketvalueofabank'snetworthtorise,thenthe

bankmusthavea

A)negativedurationgap.

B)positivedurationgap.

C)negativegap.

D)positivegap.

Answer:B

QuestionStatus:PreviousEdition

41)Ifariseininterestratescausesthemarketvalueofabank'snetworthtorise,thenthebank

musthavea

A)negativedurationgap.

B)positivedurationgap.

C)negativegap.

D)positivegap.

Answer:A

QuestionSlatus:PreviousEdition

42)Oneproblemwithdurationgapanalysisisthatit

A)iscalculatedassumingthattheyieldcurveisflat.

B)iscalculatedassumingthattheyieldcurvedoesnotchange.

C)doesnotmeasurethesensitivityofnetworthtointerestratechanges.

D)doesnotmeasurethesensitivityofincometointerestratechanges.

E)appliesonlytofinancialinstitutions.

Answer:A

QuestionStatus:PreviousEdition

43)Oneproblemwithbasicgapanalysisisthatit

A)iscalculatedassuminginterestratesonallmaturitiesareequal.

B)iscalculatedassuminginterestratesonallmaturitieschangebyequalamounts.

C)measuresthesensitivityofnetworthtointerestratechanges.

D)doesnotmeasurethesensitivityofincometointerestratechanges.

E)appliesonlytofinancialinstitutions.

Answer:B

QuestionStatus:PreviousEdition

44)Abankmanagerconcernedaboutinterestincomewhoexpectsinterestratestoriseandwho

knowsthebankcurrentlyhasapositivegapshouldrate-sensitiveassetsand

rate-sensitiveliabilities.

A\

7increase;increase

BX

/Idecrease;increase

c\

7decrease;decrease

DX

,)increase;decrease

Answer:D

QuestionStatus:PreviousEdition

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45)Abankmanagerconcernedaboutinterestincomewhoexpectsinterestratestofallandwho

knowsthebankcurrentlyhasapositivegapshouldrate-sensitiveassetsand

rate-sensitiveliabilities.

A\

/!increase;increase

B\

/!;;increase

c\

7

D\

/Jincrease;decrease

Answer:B

QuestionStatus:PreviousEdition

24.2True/False

1)Ifabankhasmorerate-sensitiveliabilitiesthanassets,thenanincreaseininterestrateswill

reducebankprofits.

Answer:TRUE

QuestionStatus:PreviousEdition

2)Thedifferencebetweenrate-sensitiveliabilitiesandrate-sensitiveassetsisknownasthe

durationgap.

Answer:FALSE

QuestionSialus:PreviousEdition

3)Ifabankhasanegativegap,thenadecreaseininterestrateswillincreaseincome.

Answer:TRUE

QuestionStalus:PreviousEdition

4)Banksfacetheproblemofadverseselectioninloanmarketsbecausebadcreditrisksarethe

onesmostlikelytoseekbankloans.

Answer:TRUE

QuestionStatus:PreviousEdition

5)Due-on-saleclausesinloancontractsreducemoralhazard.

Answer:FALSE

QuestionStatus:PreviousEdition

6)Acorrespondentaccountissometimesrequiredofaborrowerasaconditionforaloan.

Answer:FALSE

QuestionStatus:PreviousEdition

7)Creditrationingreducesadverseselectionproblems.

Answer:TRUE

QuestionStatus:PreviousEdition

8)Creditrationingoccurswhenlenderschargehigherinterestratesontheloanstheymaketo

riskierborrowers.

Answer:FALSE

QuestionStatus:PreviousEdition

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