投资学题库Chap003Word文档下载推荐.docx

投资学题库Chap003Word文档下载推荐.docx

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intheprimarymarketandusuallywiththeassistanceofaninvestmentbanker.

3.

Firmsraisecapitalbyissuingstock 

tounwaryinvestors.

onlyondayswhenthemarketisup.

4.

Whichofthefollowingstatementsregardingthespecialistaretrue?

Specialistsmaintainabooklistingoutstandingunexecutedlimitorders.

Specialistsearnincomefromcommissionsandspreadsinstockprices.

Specialistsstandreadytotradeatquotedbidandaskprices.

Specialistscannottradeintheirownaccounts.

Specialistsmaintainabooklistingoutstandingunexecutedlimitorders,earnincomefromcommissionsandspreadsinstockprices,andstandreadytotradeatquotedbidandaskprices.

5.

Investmentbankers 

actasintermediariesbetweenissuersofstocksandinvestors.

actasadvisorstocompaniesinhelpingthemanalyzetheirfinancialneedsandfindbuyersfornewlyissuedsecurities.

acceptdepositsfromsaversandlendthemouttocompanies.

actasintermediariesbetweenissuersofstocksandinvestorsandactasadvisorstocompaniesinhelpingthemanalyzetheirfinancialneedsandfindbuyersfornewlyissuedsecurities.

6.

Ina"

firmcommitment,"

theinvestmentbanker 

buysthestockfromthecompanyandresellstheissuetothepublic.

agreestohelpthefirmsellthestockatafavorableprice.

findsthebestmarketingarrangementfortheinvestmentbankingfirm.

agreestohelpthefirmsellthestockatafavorablepriceandfindsthebestmarketingarrangementfortheinvestmentbankingfirm.

7.

Thesecondarymarketconsistsof 

transactionsontheAMEX.

transactionsintheOTCmarket.

transactionsthroughtheinvestmentbanker.

transactionsontheAMEXandintheOTCmarket.

transactionsontheAMEX,throughtheinvestmentbanker,andintheOTCmarket.

8.

Initialmarginrequirementsaredeterminedby 

theSecuritiesandExchangeCommission.

theFederalReserveSystem.

theNewYorkStockExchange.

theFederalReserveSystemandtheNewYorkStockExchange.

9.

YoupurchasedJNJstockat$50pershare.Thestockiscurrentlysellingat$65.Yourgainsmaybeprotectedbyplacinga 

stop-buyorder.

limit-buyorder.

marketorder.

limit-sellorder.

Noneoftheoptions

10.

YousoldJCPstockshortat$80pershare.Yourlossescouldbeminimizedbyplacinga 

day-order.

11.

Whichoneofthefollowingstatementsregardingordersisfalse?

Amarketorderissimplyanordertobuyorsellastockimmediatelyattheprevailingmarketprice.

Alimit-sellorderiswhereinvestorsspecifypricesatwhichtheyarewillingtosellasecurity.

IfstockABCissellingat$50,alimit-buyordermayinstructthebrokertobuythestockifandwhenthesharepricefallsbelow$45.

Amarketorderisanordertobuyorsellastockonaspecificexchange（market）.

12.

Restrictionsontradinginvolvinginsiderinformationapplytothefollowingexcept 

corporateofficers.

corporatedirectors.

majorstockholders.

Alloftheoptionsaresubjecttoinsidertradingrestrictions.

Noneoftheoptionsissubjecttoinsidertradingrestrictions.

13.

Thecostofbuyingandsellingastockconsistsof 

broker'

scommissions.

dealer'

sbid-askedspread.

apriceconcessionaninvestormaybeforcedtomake.

scommissionsanddealer'

scommissions,dealer'

sbid-askedspread,andapriceconcessionaninvestormaybeforcedtomake.

14.

Assumeyoupurchased200sharesofGEcommonstockonmarginat$70persharefromyourbroker.Iftheinitialmarginis55%,howmuchdidyouborrowfromthebroker?

$6,000

$4,000

$7,700

$7,000

$6,300

15.

Yousoldshort200sharesofcommonstockat$60pershare.Theinitialmarginis60%.Yourinitialinvestmentwas 

$4,800.

$12,000.

$5,600.

$7,200.

16.

Youpurchased100sharesofIBMcommonstockonmarginat$70pershare.Assumetheinitialmarginis50%andthemaintenancemarginis30%.Belowwhatstockpricelevelwouldyougetamargincall?

Assumethestockpaysnodividend;

ignoreinterestonmargin. 

$21

$50

$49

$80

17.

Youpurchased100sharesofcommonstockonmarginat$45pershare.Assumetheinitialmarginis50%andthestockpaysnodividend.Whatwouldthemaintenancemarginbeifamargincallismadeatastockpriceof$30?

Ignoreinterestonmargin. 

0.33

0.55

0.43

0.23

0.25

18.

Youpurchased300sharesofcommonstockonmarginfor$60pershare.Theinitialmarginis60%andthestockpaysnodividend.Whatwouldyourrateofreturnbeifyousellthestockat$45pershare?

25.00%

-33.33%

44.31%

-41.67%

-54.22%

19.

Assumeyousellshort100sharesofcommonstockat$45pershare,withinitialmarginat50%.Whatwouldbeyourrateofreturnifyourepurchasethestockat$40pershare?

Thestockpaidnodividendsduringtheperiod,andyoudidnotremoveanymoneyfromtheaccountbeforemakingtheoffsettingtransaction. 

20.03%

25.67%

22.22%

77.46%

20.

Yousoldshort300sharesofcommonstockat$55pershare.Theinitialmarginis60%.Atwhatstockpricewouldyoureceiveamargincallifthemaintenancemarginis35%?

$51.00

$65.18

$35.22

$40.36

21.

Assumeyousoldshort100sharesofcommonstockat$50pershare.Theinitialmarginis60%.Whatwouldbethemaintenancemarginifamargincallismadeatastockpriceof$60?

40%

33%

35%

25%

22.

Specialistsonstockexchangesperformwhichofthefollowingfunctions?

Actasdealersintheirownaccounts.

Analyzethesecuritiesinwhichtheyspecialize.

Provideliquiditytothemarket.

Actasdealersintheirownaccountsandanalyzethesecuritiesinwhichtheyspecialize.

Actasdealersintheirownaccountsandprovideliquiditytothemarket.

23.

Sharesforshorttransactions 

areusuallyborrowedfromotherbrokers.

aretypicallysharesheldbytheshortseller'

sbrokerinstreetname.

areborrowedfromcommercialbanks.

sbrokerinstreetnameandareborrowedfromcommercialbanks.

24.

Whichofthefollowingordersismostusefultoshortsellerswhowanttolimittheirpotentiallosses?

Limitorder

Discretionaryorder

Limit-lossorder

Stop-buyorder

25.

Whichofthefollowingordersinstructsthebrokertobuyatthecurrentmarketprice?

Marketorder

26.

Whichofthefollowingordersinstructsthebrokertobuyatorbelowaspecifiedprice?

Limit-buyorder

27.

Whichofthefollowingordersinstructsthebrokertosellatorbelowaspecifiedprice?

Limit-sellorder

Stop-loss

28.

Whichofthefollowingordersinstructsthebrokertosellatoraboveaspecifiedprice?

29.

Whichofthefollowingordersinstructsthebrokertobuyatoraboveaspecifiedprice?

30.

Shelfregistration 

isawayofplacingissuesintheprimarymarket.

allowsfirmstoregistersecuritiesforsaleoveratwo-yearperiod.

increasestransactioncoststotheissuingfirm.

isawayofplacingissuesintheprimarymarketandallowsfirmstoregistersecuritiesforsaleoveratwo-yearperiod.