金融市场与金融机构基础Fabozzi-Chapter01.doc

Foundations of Financial Markets and Institutions, 4e (Fabozzi/Modigliani/Jones) Chapter 1 Introduction Multiple Choice Questions 1 Financial Assets 1) An asset is a possession that has value in an exchange and can be classified as ________. A) financial or intangible. B) financial or variable. C) tangible or intangible. D) fixed or variable. Answer: C Diff: 2 Topic: 1.1 Financial Assets Objective: 1.5: the various ways to classify financial markets 2) The financial asset is referred to as a ________ if the claim is a fixed dollar. A) debt instrument. B) common equity instrument. C) derivative instrument. D) preferred equity instrument. Answer: A Diff: 2 Topic: 1.1 Financial Assets Objective: 1.4: the distinction between debt instruments and equity instruments 3) A basic economic principle is that the price of any financial asset ________ the present value of its expected cash flow, even if the cash flow is not known with certainty. A) is greater than B) is equal to C) is less than D) is equal to or greater than Answer: B Diff: 2 Topic: 1.1 Financial Assets Objective: 1.1: what a financial asset is and the principal economic functions of financial assets 4) A(n) ________ such as plant or equipment purchased by a business entity shares at least one characteristic with a financial asset: Both are expected to generate future cash flow for their owner. A) tangible asset B) intangible asset C) balance sheet asset D) cash asset Answer: A Diff: 1 Topic: 1.1 Financial Assets Objective: 1.2: the distinction between financial assets and tangible assets 5) Financial assets have two principal economic functions. Which of the below is ONE of these? A) A principal economic function is to transfer funds from those who have surplus funds to borrow to those who need funds to invest in intangible assets. B) A principal economic function is to transfer funds in such a way as to redistribute the avoidable risk associated with the cash flow generated by intangible assets