问题 单项选择题

下列对于久期公式的理解,不正确的是()。

A.收益率与价格反向变动 

B.价格变动的程度与久期的长短有关 

C.久期越长,价格的变动幅度越大 

D.久期公式中的D为修正久期

答案

参考答案:D

解析:

久期公式为ΔP=-P×D×Δy÷(1+y),式中,P代表当前价格;ΔP代表价格的变动幅度;y代表收益率;Δy代表收益率的变动幅度;D为麦考利久期。A选项,收益率与价格的反向变动是指Δy与ΔP的变化,当Δy为正时,左边ΔP为负,两者符号相反,呈反向变动;B选项,式中D的大小是ΔP的一个决定因素,因此价格变动程度与久期长短有关;C选项,久期越长,ΔP的绝对数值也越大;D选项,式中的D表示麦考利久期,不是修正久期。

阅读理解

阅读理解。

     Some years ago I took on a task in a southern county to work with people on public welfare. What I

wanted to do was to show that everybody has the capacity to be self sufficient and all we have to do is to

activate (激励)them. I asked the country to pick up a group of people who were on public welfare, people

 from different racial groups and different family groups. I would then see them as a group for three hours

every Friday. I also asked for a little petty cash to work with, as I needed it.

    The first thing I said after I shook hands with everybody was, "I'd like to know what your dreams are."

Everyone looked at me as if I were kind of fool.

     One woman said to me,"I don't know what you can do with dreams. The rats are eating up my kids."

"Oh," I said,"That's terrible. No, of course, you are very much involved with the rats and your kids. How

can that be helped?"

     "Well, I could use a new screen door because there are holes in my screen door." I asked, "Is there

anybody around here who know how to fix a screen door?"

     There was a man in the group and he said,"A long time ago I used to do things like that but now I have

a terribly bad back, but I'll try."

     I told him I had some money if he would go to the store and but some screening and go and fix the

lady's screen door. "Do you think you can do that?" 

     "Yes, I'll try."

     The next week, when the group was seated. I said to the woman, "Well, is your screen door fixed?"

     "Oh, yes." she said.

      "Then we can start dreaming, can't we?" she sort of smiled at me.

     I said to the man who did the work,"How do you feel?"

     He said,"Well, you know, it's very funny thing. I'm beginning to feel a lot better."

     That helped the group to begin to dream. These seemingly small successes allowed the group to see

that dreams were not insane. These small steps began to get people to see and feel that something really

could happen.

     Everyone found something. The man who put in the screen door became a handyman. In 12 weeks,

I had all those people off public welfare. I've not only done that once, I've done that in many times.

1. What's the opinion the author had when he took on the work?

A. People need to be activated by others to make a living.

B. Everyone should not have depended on public welfare.

C. Everyone has the ability to live on without getting public welfare.

D. The county should gather people from different racial groups together.

2. Which of the following statements is TRUE according to the passage?

A. The author did the work at his own expense.

B. The people the author worked with were very wealthy.

C. The author usually met the people four times a month.

D. The people the author worked with had no dreams at all.

3. What does the underlined sentence in Paragraph 3 mean?

A. The rats are so big that they eat the children.

B. The rats are crazy and have the children as food.

C. The rats are giving the kids and the mother much trouble.

D. The kids are too weak and even are nearly eaten by the rats..

4. What are the last two paragraphs mainly about?

A. Anything in the would is difficult.

B. Small success can be parts of your dream.

C. I have had those people off public welfare.

D. Your dream comes before it becomes a reality

多项选择题