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1、wordChapter 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 kn
2、owledge3.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, and s
3、tocks5._ 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 pr
4、oductive 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 estateD.
5、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 ter
6、ms 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 20
7、12, _ 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 insu
8、rance 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 ponent of domestic net worth in 2012 wasA.nonresidential real estate.B.residential r
9、eal estate.C.inventories.D.consumer durables.E.equipment and software.15.The smallest ponent 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.$15.411 t
10、rillion.B.$26.431 trillion.C.$42.669 trillion.D.$48.616 trillion.E.$70.983 trillion.17.A fixed-ine security paysA.a fixed level of ine for the life of the owner.B.a fixed stream of ine or a stream of ine that is determined according to a specified formula for the life of the security.C.a variable le
11、vel of ine for owners on a fixed ine.D.a fixed or variable ine stream at the option of the owner.18.A debt security paysA.a fixed level of ine for the life of the owner.B.a variable level of ine for owners on a fixed ine.C.a fixed or variable ine stream at the option of the owner.D.a fixed stream of
12、 ine or a stream of ine 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 risk.E.All of the options20.An example of a der
13、ivative security isA.a mon share of Microsoft.B.a call option on Intel stock.C.a modity futures contract.D.a call option on Intel stock and a modity futures contract.E.a mon share of Microsoft and a call option on Intel stock.21.The value of a derivative securityA.depends on the value of the related security.B.is unable to be calculated.C.is unrelated to the value of the related security.D.has been enhanced due
