编号：时间：2021年x月x日书山有路勤为径，学海无涯苦作舟页码：第页共NUMPAGES82页第PAGE\*MERGEFORMAT82页共NUMPAGES\*MERGEFORMAT82页Chapter15TheTermStructureofInterestRatesMultipleChoiceQuestions1.ThetermstructureofinterestratesisA.therelationshipbetweentheratesofinterestonallsecurities.B.therelationshipbetweentheinterestrateonasecurityanditstimetomaturity.C.therelationshipbetweentheyieldonabondanditsdefaultrate.D.AlloftheoptionsE.Noneoftheoptions2.TreasurySTRIPSareA.securitiesissuedbytheTreasurywithverylongmaturities.B.extremelyriskysecurities.C.createdbysellingeachcouponorprincipalpaymentfromawholeTreasurybondasaseparatecashflow.D.createdbypoolingmortgagepaymentsmadetotheTreasury.3.ThevalueofaTreasurybondshouldA.beequaltothesumofthevalueofSTRIPScreatedfromit.B.belessthanthesumofthevalueofSTRIPScreatedfromit.C.begreaterthanthesumofthevalueofSTRIPScreatedfromit.D.Alloftheoptions.4.IfthevalueofaTreasurybondwashigherthanthevalueofthesumofitsparts(STRIPPEDcashflows)youcouldA.profitbybuyingthestrippedcashflowsandreconstitutingthebond.B.notprofitbybuyingthestrippedcashflowsandreconstitutingthebond.C.profitbybuyingthebondandcreatingSTRIPS.D.notprofitbybuyingthestrippedcashflowsandreconstitutingthebondandprofitbybuyingthebondandcreatingSTRIPS.E.Noneoftheoptions5.IfthevalueofaTreasurybondwaslowerthanthevalueofthesumofitsparts(STRIPPEDcashflows)youcouldA.profitbybuyingthestrippedcashflowsandreconstitutingthebond.B.notprofitbybuyingthestrippedcashflowsandreconstitutingthebond.C.profitbybuyingthebondandcreatingSTRIPS.D.notprofitbybuyingthestrippedcashflowsandreconstitutingthebondandprofitbybuyingthebondandcreatingSTRIPS.E.Noneoftheoptions6.IfthevalueofaTreasurybondwaslowerthanthevalueofthesumofitsparts(STRIPPEDcashflows)A.arbitragewouldprobablyoccur.B.arbitragewouldprobablynotoccur.C.theFEDwouldadjustinterestrates.D.Noneoftheoptions7.IfthevalueofaTreasurybondwashigherthanthevalueofthesumofitsparts(STRIPPEDcashflows)A.arbitragewouldprobablyoccur.B.arbitragewouldpr