新用户扫码下载
扫码下载APP
及时接收最新考试资讯及
备考信息
"Fixed Income": Spot curve
学习是一个不断积累的过程，每天学习一点，每天进步一点！为了帮助大家更高效地备考2021年CFA考试，正保会计网校每日为大家上新CFA习题供大家练习。让网校与您一起高效备考2021年CFA考试，梦想成真！
Questions 1:
Consider a $100 par value bond with an 8% coupon paid annually, maturing in 20 years. If the bond currently sells for $96.47, the yield to maturity is closest to:
A 、8.37%.
B、 8.29%.
C、 7.41%
Questions 2:
Which of the following statements is most likely correct regarding the spot and forward curves. The spot curve:
A、 can be calculated from the forward curve, and the forward curve can be calculated from the spot curve.
B 、can be calculated from the forward curve, but the forward curve cannot be calculated from the spot curve.
C、 cannot be calculated from the forward curve, but the forward curve can be calculated from the spot curve.
View answer resolution
【Answer to question 1】A
【analysis】
A is correct. A security with a present value of 96.47, 19 interest payments of 8, and a 20th payment of principal plus interest (108) has a yield to maturity of 8.37%.
B is incorrect because it is the security’s current yield: ($8/$96.47).
C is incorrect because it is: $8/$108 = 0.0741.
【Answer to question 2】A
【analysis】
A is correct. The forward and spot curves are interconnected to each other. The spot curve can be calculated from the forward curve, and the forward curve can be calculated from the spot curve. Either curve can be used to value fixed-rate bonds.
B is incorrect because the spot curve can be calculated from the forward curve, and the forward curve can be calculated from the spot curve.
C is incorrect because the spot curve can be calculated from the forward curve, and the forward curve can be calculated from the spot curve.
成功=时间+方法，自制力是这个等式的保障。世上无天才，高手都是来自刻苦的练习。而人们经常只看到“牛人”闪耀的成绩，其成绩背后无比寂寞的勤奋。小编相信，每天都在勤奋练习，即使是一点点的进步，大家一定可以成为人人称赞的“牛人”。
推荐阅读
新用户扫码下载
扫一扫关注
京公网安备 11010802023314号
