新用戶掃碼下載
掃碼下載APP
及時接收最新考試資訊及
備考信息
"Fixed Income":Credit spread
學習是一個不斷積累的過程，每天學習一點，每天進步一點！為了幫助大家更高效地備考2021年CFA考試，正保會計網校每日為大家上新CFA習題供大家練習。讓網校與您一起高效備考2021年CFA考試，夢想成真！
Questions 1:
Credit spreads are most likely to narrow during:
A 、economic contractions.
B、 a period of flight to quality.
C 、economic expansions.
Questions 2:
Which of the following is least likely a form of internal credit enhancement used in a securitization?
A、 Subordination
B 、Overcollateralization
C、 Letter of credit
View answer resolution
【Answer to question 1】C
【analysis】
C is correct. Credit spreads narrow during economic expansions and widen during economic contractions. During an economic expansion, corporate revenues and cash flows rise, making it easier for corporations to service their debt, and investors purchase corporates instead of Treasuries, causing spreads to narrow.
A is incorrect. Credit spreads narrow during economic expansions and widen during economic contractions.
B is incorrect. During a flight to quality investors sell corporate and buy treasuries thereby widening the credit spread on corporates.
【Answer to question 2】C
【analysis】
C is correct. The use of letters of credit is a type of external credit enhancement used in a securitization.
A is incorrect because subordination is a type of internal credit enhancement used in a securitization.
B is incorrect because overcollateralization is a type of internal credit enhancement used in a securitization.
成功=時間+方法，自制力是這個等式的保障。世上無天才，高手都是來自刻苦的練習。而人們經常只看到“牛人”閃耀的成績，其成績背后無比寂寞的勤奮。小編相信，每天都在勤奮練習，即使是一點點的進步，大家一定可以成為人人稱贊的“牛人”。更多CFA考試資訊，點擊了解>
學員討論（0）
推薦閱讀
新用戶掃碼下載
京公網安備 11010802044457號
