问题 单项选择题

关于主动债券组合管理,下列说法正确的有()。

A.水平分析法的核心是通过对未来利率的变化就期末的价格进行估计,并据此判断现行价格是否被误定

B.债券掉换的目的是用定价过低的债券替代定价过高的债券,或是用收益率高的债券替代收益率低的债券

C.纯收益率调换是用长期收益率高的债券替代长期收益率低的债券

D.当两债券之间存在着一定的收益差幅,而且该差幅可能发生变化,那么资产管理者就有可能卖出一种债券的同时买入另一种债券,以期获得较高的持有期收益,这种方法称为市场内部价差掉换

答案

参考答案:A, B, C, D

解析:债权资产的主动管理通常有:①水平分析法,其核心是通过对未来利率的变化就期末的价格进行评估,并据此判断现行价格是否被误定以决定是否买进;②债券掉换,其目的是是用定价过低的债券来替换定价过高的债券,或是用收益率高的债券替换收益率低的债券,大体有替代掉换、市场内部价差掉换、利率预期掉换和纯收益率调换四种类型的方法,其中纯收益率调换是指着眼于长期的收益变动,用长期收益高的债券替换长期收益低的债券,而市场内部价差掉换当两种债券之间存在着一定得收益差幅,而且该差幅有可能发生变化,那么资产管理者就有可能卖出一种债券的同时买进另外一种债券,以期获得较高的持有期收益;③骑乘收益率曲线。

完形填空
宪形填空。
     Meg, Joe and Roy are talking about __1__ they want to clo when they grow up. Meg says, "I want
to be a__2__. I am going to write a lot of books."
     "I want to be a famous __3__," says Joe, "I am going to play baseball in the summer __4__ football
in the fall."
     "Oh, yes,"  says Meg, "I want to be a famous tennis star."
     "That __5__ good. __6__ I think I am going to be a doctor and a carpenter. I am going to __7__ a
cabin (小木屋), and I can live in it in winter."
     "I am going to live in a lighthouse __8__ the sea," says Joe, "Then I can go __9__  every day."
     "I want to live in a castle (城堡) when I grow up," Meg says in the end, "Tennis stars always __10__
a lot of money."
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( )2. A. reader    
( )3. A. runner    
( )4. A. but      
( )5. A. sounds    
( )6. A. So        
( )7. A. build    
( )8. A. in        
( )9. A. skating  
( )10. A. spend    
B. that        
B. writer      
B. journalist  
B. for          
B. sounds like  
B. And          
B. buy          
B. on          
B. reading      
B. buy          
C. who              
C. teacher          
C. athlete          
C. or                
C. is going to sound
C. But              
C. make              
C. with              
C. shopping          
C. make              
D. how                  
D. doctor                
D. designer              
D. and                  
D. is going to sound like
D. Because              
D. paint                
D. by                    
D. fishing              
D. pay                  
单项选择题