Which of the following is true of the fed funds rate
A. It is the same as the Treasury rate
B. It is an overnight interbank rate
C. It is a rate for which collateral is posted
D. It is a type of repo rate
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The modified duration of a bond portfolio worth $1 million is 5 years. By approximately how much does the value of the portfolio change if all yields increase by 5 basis points?
A. Increase of $2,500
B. Decrease of $2,500
C. Increase of $25,000
Decrease of $25,000
Which of the following is true of LIBOR
A. The LIBOR rate is free of credit risk
B. A LIBOR rate is lower than the Treasury rate when the two have the same maturity
C. It is a rate used when borrowing and lending takes place between banks
D. It is subject to favorable tax treatment in the U.S.
Which of the following is NOT a theory of the term structure
A. Expectations theory
B. Market segmentation theory
C. Liquidity preference theory
D. Maturity preference theory
A repo rate is
An uncollateralized rate
B. A rate where the credit risk is relative high
C. The rate implicit in a transaction where securities are sold and bought back later at a higher price
D. None of the above
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