题目内容
（请给出正确答案）
When will be the party held？
A．On October the 6th
B．On September the 6th
C．On September the 16th
D．On October the 16th
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更多“When will be the party held？A．On October the 6thB．On September the 6thC．On September the 1”相关的问题
The coupon yield of a bond______.
A．is expressed as a percentage of the par value of the bond
B．is the same as the current yield
C．changes when current interest rates change
D．changes only when the market price of the bond changes
A.bond
B.premium
C.par value
D.coupon rate
A、decline over time, reaching par value at maturity.
B、increase over time, reaching par value at maturity.
C、be less than the face value at maturity.
D、exceed the face value at maturity.
A.premium; below
B.premium; above
C.discount; below
D.discount; above
(I) A discount bond requires the borrower to repay the principal at the maturity date plus an interest payment. (II) A coupon bond pays the lender a fixed interest payment every year until the maturity date, when a specified final amount (face or par value) is repaid.
A、(I) is true, (II) false.
B、(I) is false, (II) true.
C、Both are true.
D、Both are false.
Section B – TWO questions ONLY to be attempted
GNT Co is considering an investment in one of two corporate bonds. Both bonds have a par value of $1,000 and pay coupon interest on an annual basis. The market price of the first bond is $1,079？68. Its coupon rate is 6% and it is due to be redeemed at par in five years. The second bond is about to be issued with a coupon rate of 4% and will also be redeemable at par in five years. Both bonds are expected to have the same gross redemption yields (yields to maturity).
GNT Co considers duration of the bond to be a key factor when making decisions on which bond to invest.
Required:
(a) Estimate the Macaulay duration of the two bonds GNT Co is considering for investment. (9 marks)
(b) Discuss how useful duration is as a measure of the sensitivity of a bond price to changes in interest rates. (8 marks)
A．A time lag exists between the rate change in the market and the time when the coupon rate is reset
B．The fixed quoted margin on the floating rate security may differ from the margin required by the market
C．Resetting interest rates makes floating rate bonds more susceptible to price risk than results from changing interest rates
Party A: Brainstorming Company Limited, (the employer)
Party B: Jim (the employee)
The duty of Party A: pay the employee at the rate of US ＄3000 per month and, in addition, compensate him for any other expense incurred by him when he is carrying out his duties.
The duty of Party B: agree to carry out the following duties, to negotiate with American authorities about the cooperation between Brainstorming group and business circles of the USA, to arrange for the visits of Steve Wang, president, and other executive to America, to act as authorized representative in any relating to the cooperation with America and to respond to any inquires from China parties．In this employment, the employee shall act honestly, laboriously and to the best of his ability.
Validity of the agreement: on January 1st , 2009.
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