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题目 Two of the key risks facing insurance companies are moral hazard and adverse selection. Three of the following examples are illustrations of moral hazard, but one is an example of adverse [...]

题目 Whichof the following problems would most likely be a concern for life insurancecompanies that are worried about differentiating between good risks and badrisks? 选项 A.Adverse selection. [...]

题目 Bennett Bank extends a 5% APR (annual percentage rate) USD 100,000 30-year mortgage requiring monthly payments. If the mortgage is structured so that it requires interest-only payments for the [...]

题目 Assume an investor has a position in a currency swap. He receives euro in exchange for paying yen. What are the conditions for the swap to be in-the-money? I The value of yen falls. II The [...]

题目 The price to yield function of mortgage-backed securities (MBS) exhibits negative convexity because: 选项 A.they are usually purchased at a premium. B.the probability of default is higher [...]

题目 Catastrophe (CAT) bonds are a popular derivative instrument for hedging catastrophic risk. A CAT bond pays a higher-than-normal interest rate and is often issued by a subsidiary of an [...]

题目 A homeowner has a 30-year, 5% fixed rate mortgage with a current balance of USD 250,000. Mortgage rates have been decreasing. Which of the following is closest to the amount that the homeowner [...]

题目 A level-payment, fixed-rate mortgage has the following characteristics:Term 30 yearsMortgage rate 9.0%Servicing fee 0.5%Original mortgage loan balance $150,000The monthly mortgage payment is: [...]

题目 Under a constant maturity mortality approach, the monthly rate of prepayment （　） on a mortgage (aka, single month mortality rate, SMM) is found to be 0.40%. What is the annualized [...]

题目 The yield curve is upward sloping, and a portfolio manager has a long position in 10-year Treasury Notes funded through overnight repurchase agreements. The risk manager is concerned with the [...]