2021/11/30 下午9:31 Midterm 1: ECON 173A - Financial Markets - Toda [FA21] https://canvas.ucsd.edu/courses/29697/quizzes/83186 1/5 Midterm 1 Due Oct 15 at 7:20pm Points 10 Questions 10 Available Oct 14 at 7:20pm - Oct 15 at 7:20pm 1 day Time Limit 80 Minutes Instructions This quiz was locked Oct 15 at 7:20pm. Attempt History Attempt Time Score LATEST Attempt 1 60 minutes 9 out of 10 Correct answers are hidden. Score for this quiz: 9 out of 10 Submitted Oct 15 at 5:36pm This attempt took 60 minutes. This is midterm 1. Please carefully read ExamInstruction.pdf and ExamProtocol.pdf for specific instructions. 1 / 1 ptsQuestion 1 Suppose you withdraw $500 from an ATM using your credit card, which has APR (annual percentage rate) 12%. If you pay back after 31 days, how much do you owe? Round to the nearest cent. 505.1 1 / 1 ptsQuestion 2 2021/11/30 下午9:31 Midterm 1: ECON 173A - Financial Markets - Toda [FA21] https://canvas.ucsd.edu/courses/29697/quizzes/83186 2/5 Suppose that the monthly return of an asset is normally distributed with expected return and volatility of 0.81% and 4.9%, respectively. What is the 1% expected shortfall over a month (percentage point, round to first decimal place)? -12.3 1 / 1 ptsQuestion 3 Suppose that the monthly log return of the stock market index is normally distributed with expected return and volatility of 0.0076 and 0.0655, respectively. If the risk-free rate is 1% (annual, continuously compounded), what is the probability that the stock market index underperforms the risk-free asset over a 10-year investment horizon (percentage point, round to first decimal place)? 12.9 1 / 1 ptsQuestion 4 Suppose the annual (net) expected return and volatility of the stock market index is 9.7% and 18.0%, respectively. If you invest in the stock market index in the long run and returns are independent and identically distributed across years, what would be the average growth rate of your wealth (percentage point, continuously compounded, round to second decimal place)? 8.08 2021/11/30 下午9:31 Midterm 1: ECON 173A - Financial Markets - Toda [FA21] https://canvas.ucsd.edu/courses/29697/quizzes/83186 3/5 1 / 1 ptsQuestion 5 Suppose a zero coupon bond with face value 100 and maturity 3 months trades at price 99.2280. What is the annual rate of return if you hold this bond until maturity (percentage point, continuously compounded, round to second decimal place)? 3.1 1 / 1 ptsQuestion 6 Consider a newly issued 10-year bond that makes semiannual coupon payments. If the face value is 100, the coupon rate is 3%, and the interest rate is constant at 4.29% (continuously compounded), what is the fair price of the bond (round to first decimal place)? 89.2 1 / 1 ptsQuestion 7 Suppose you borrow $500,000 from a 15-year mortgage with APR (annual percentage rate) 4.50%. If you decide to pay off the mortgage after 8 years and 113 days, what is your payoff balance (round to nearest 1,000 dollars)? 268,000 2021/11/30 下午9:31 Midterm 1: ECON 173A - Financial Markets - Toda [FA21] https://canvas.ucsd.edu/courses/29697/quizzes/83186 4/5 1 / 1 ptsQuestion 8 If you borrow $800,000 from a 15-year mortgage with APR (annual percentage rate) 2.50%, what is the monthly payment (round to nearest dollar)? 5,335 1 / 1 ptsQuestion 9 Consider a 20-year bond that makes semiannual coupon payments, which was issued 2 years and 140 days ago. If the face value is 100, the coupon rate is 6%, and the interest rate is constant at 3.80% (continuously compounded), what is the fair price of the bond now (round to first decimal place)? 129.8 0 / 1 ptsQuestion 10Incorrect Consider a 10-year corporate bond that makes semiannual coupon payments. If the face value is 100, the coupon rate is 3%, the bond price is 96.897, and the yield on a similar Treasury bond is 1.87% (continuously compounded), what is the yield spread (percentage point, round to second decimal place)? 3.65 2021/11/30 下午9:31 Midterm 1: ECON 173A - Financial Markets - Toda [FA21] https://canvas.ucsd.edu/courses/29697/quizzes/83186 5/5 Quiz Score: 9 out of 10
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