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1、Chapter 10The Investment Function in Banking and Financial-Services ManagementFill in the Blank Questions1.A(n) _ is a security issued by the federal government which has less than one year to maturity when it is issued. Answer: Treasury bill 2.Debt instruments issued by cities, states and other pol
2、itical entities and which are exempt from federal taxes are collectively known as _ . Answer: municipal securities 3.The investment maturity strategy which calls for the bank to have one half of its investment portfolio in very short term assets and one half of its investment portfolio in long term
3、assets is known as the _ . Answer: barbell strategy 4.A(n) _ is a security where the interest portion of the security is sold separately from the principal portion of the security. Answer: stripped security 5._ are the way the federal, state and local governments guarantee the safety of their deposi
4、ts with banks. Answer: Pledging requirements 6.The most aggressive investment maturity strategy calls for the bank to continually shift the maturities of its securities in responses to changes in interest rates and is called the _. Answer: rate expectation strategy 7._ is the risk that the bank will
5、 have to sell part of its investment portfolio before their maturity for a capital loss. Answer: Liquidity risk 8._ is the risk that the economy of the market area they service may take a down turn in the future. Answer: Business risk 9._ is the risk that the company whose bonds the financial instit
6、ution owns may retire the entire issue of corporate bonds in advance of their maturity leaving the bank with the risk of earnings losses resulting from reinvesting the cash at lower interest rates. Answer: Call risk 10.A security issued by the federal government with 1 to 10 years to maturity when i
7、t is issued is called a(n) _ . Answer: Treasury note 11.A short term debt security issued by major corporations is known as _. Answer: commercial paper 12.The investment maturity strategy which calls for the bank to have all of their investment assets in very short term maturities is called the _. A
8、nswer: front-end-loaded policy 13.A money market security which represents a banks commitment to pay a stipulated amount of money on a specific future date under specific conditions and which is often used in international trade is known as a(n) _. Answer: bankers acceptance 14.A(n) _ is an interest
9、-bearing receipt for the deposit of funds in a bank for a stipulated time period. Ones that are oriented towards business customers or institutions are known as jumbos. Answer: certificate of deposit 15._ are any securities which reach maturity in under one year. Answer: Money market securities 16._
10、 are any securities whose original maturity exceeds one year. Answer: Capital market securities 17.Securities sold by Fannie Mae, Freddie Mac and others are known as _. Answer: federal agency securities 18.Claims against the expected income and principal generated by a pool of similar-type loans are
11、 known as _. Answer: securitized assets 19.The long term debt obligations of major corporations are known as _. Answer: corporate bonds 20.The investment maturity strategy which calls for the bank to have all of their investment assets in very long term maturities is known as the _. Answer: back-end
12、-loaded policy 21.Financial Institutions may invest in municipal bonds issued by smaller local governments. These bonds are known as _ bonds. Answer: bank qualified 22. Marketable notes and bonds sold by agencies owned by the government or sponsored by the government are known as .Answer: government
13、 agency securities23. A security issued by the federal government with greater than 10 years to maturity when it is issued is called a(n) .Answer: Treasury Bond24. are time deposits of fixed maturity issued by the worlds larges banks headquartered in financial centers around the globe. The heart of this market is centered in London.Answer: Eurocurrency deposits25. are a type o
