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1、. . . .Chapter 01The Investment EnvironmentMultiple Choice Questions1.The material wealth of a society is a function ofA.all financial assets.B.all real assets.C.all financial and real assets.D.all physical assets.2._ are real assets.A.LandB.MachinesC.Stocks and bondsD.KnowledgeE.Land, machines, and
2、 knowledge3.The means by which individuals hold their claims on real assets in a well-developed economy areA.investment assets.B.depository assets.C.derivative assets.D.financial assets.E.exchange-driven assets.4._ are financial assets.A.BondsB.MachinesC.StocksD.Bonds and stocksE.Bonds, machines, an
3、d stocks5._ financial asset(s).A.Buildings areB.Land is aC.Derivatives areD.U.S. agency bonds areE.Derivatives and U.S. agency bonds are6.Financial assetsA.directly contribute to the countrys productive capacity.B.indirectly contribute to the countrys productive capacity.C.contribute to the countrys
4、 productive capacity both directly and indirectly.D.do not contribute to the countrys productive capacity either directly or indirectly.E.are of no value to anyone.7.In 2012, _ was the most significant real asset of U.S. households in terms of total value.A.consumer durablesB.automobilesC.real estat
5、eD.mutual fund sharesE.bank loans8.In 2012, _ was the least significant financial asset of U.S. households in terms of total value.A.real estateB.mutual fund sharesC.debt securitiesD.life insurance reservesE.pension reserves9.In 2012, _ was the most significant financial asset of U.S. households in
6、terms of total value.A.real estateB.mutual fund sharesC.debt securitiesD.life insurance reservesE.pension reserves10.In 2012, _ was the most significant asset of U.S. households in terms of total value.A.real estateB.mutual fund sharesC.debt securitiesD.life insurance reservesE.pension reserves11.In
7、 2012, _ was the most significant liability of U.S. households in terms of total value.A.credit cardsB.mortgagesC.bank loansD.student loansE.other debt12.Which of the following financial assets made up the greatest proportion of the financial assets held by U.S. households?A.Pension reservesB.Life i
8、nsurance reservesC.Mutual fund sharesD.Debt securitiesE.Personal trusts13.In 2012 _ of the assets of U.S. households were financial assets as opposed to tangible assets.A.20.4%B.34.2%C.68.8%D.71.7%E.82.5%14.The largest component of domestic net worth in 2012 wasA.nonresidential real estate.B.residen
9、tial real estate.C.inventories.D.consumer durables.E.equipment and software.15.The smallest component of domestic net worth in 2012 wasA.nonresidential real estate.B.residential real estate.C.inventories.D.consumer durables.E.equipment and software.16.The national net worth of the U.S. in 2012 wasA.
10、$15.411 trillion.B.$26.431 trillion.C.$42.669 trillion.D.$48.616 trillion.E.$70.983 trillion.17.A fixed-income security paysA.a fixed level of income for the life of the owner.B.a fixed stream of income or a stream of income that is determined according to a specified formula for the life of the sec
11、urity.C.a variable level of income for owners on a fixed income.D.a fixed or variable income stream at the option of the owner.18.A debt security paysA.a fixed level of income for the life of the owner.B.a variable level of income for owners on a fixed income.C.a fixed or variable income stream at t
12、he option of the owner.D.a fixed stream of income or a stream of income that is determined according to a specified formula for the life of the security.19.Money market securitiesA.are short term.B.are highly marketable.C.are generally very low risk.D.are highly marketable and are generally very low
13、 risk.E.All of the options20.An example of a derivative security isA.a common share of Microsoft.B.a call option on Intel stock.C.a commodity futures contract.D.a call option on Intel stock and a commodity futures contract.E.a common share of Microsoft and a call option on Intel stock.21.The value of a derivative secur
