题目内容

When market participants expect the spot price of a commodity to be higher in the future, the commodity market is most likely said to be in:

A. contango.
B. Full carry
C. backwardation

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Which of the following statements concerning market structure and HerfindahI-Hirschman Index (HHI) is most accurate?

A. HHI is a useful measure of potential barriers to entry.
B. Low control over prices is characteristic of oligopolies.
C. An HHI value of 60 indicates that a market is highly competitive.

Which of these definitions of duration is most relevant to a bond investor? A bonds duration is its:

A. half-life.
B. Price sensitivity to yield changes.
C. First derivative of value with respect to its yield.

An investor sells a bond at the quoted price of $98.00. In addition he receives accrued interest of $4.40. The clean price of the bond is:

A. Par value plus accrued interest
B. Accrued interest plus agreed upon bond price
C. Agreed upon bond price excluding accrued interest.

Which of the following is least likely a reason for discounting the value of stock in a closely held company?

A. Illiquidity
B. Marketability
Controlling interest

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