Prelim I 2009 solution and test - Name: _ NetID: _ HADM...

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Name: ___________________________________ NetID: _______________________ Prof. Q. Ma, HADM 2222 Fall 2009, Prelim I 1/8 HADM 2222 Prelim I Prof. Ma Tuesday, September 22, 2009 7:30 p.m. – 9:30 p.m. Name (please print): ___________________________________ Cornell ID: ___________________________________ NetID: _____________ Instructions: - Print your name and ID on all pages. - Close book, close notes. - One or multiple financial calculators and non-financial calculators are allowed. - You have exact 120 minutes for the exam. - Total 25 questions, 50 points, and 8 pages (including the cover and formula pages). - Make sure that no page is missing in your exam. - When working on questions, o For problem solving: show your work to earn partial credits; write your final answers in the box below each question. o For multiple choice questions: no partial credit is available; copy your choices (A/B/C/D/E) to the table in page 2. o For short answer questions: do not exceed the number of words specified. - The questions are NOT presented in the order of difficulty. - Allocate your time wisely. By signing below you agree to the University rules on exams. Any violation of academic integrity will result in serious penalty. _______________________________ (Signature) Tests without a signature will be discarded. Good Luck!
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Name: ___________________________________ NetID: _______________________ Prof. Q. Ma, HADM 2222 Fall 2009, Prelim I 2/8 Multiple Choice Questions (Total 10 Questions, 2 points each) Please legibly write your answers (A/B/C/D/E) within the boxes below. 1 2 3 4 5 B A E C C 6 7 8 9 10 B B D C B Please double-check your answers before submitting the exam. No partial credit is possible in multiple-choice questions. For instructor’s use only Score Q01 – 10 Q11 – 15 Q16 – 20 Q21 – 25 Total
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Name: ___________________________________ NetID: _______________________ Prof. Q. Ma, HADM 2222 Fall 2009, Prelim I 3/8 1. A bond with a face value of $1,000 that sells for low than $998 in the market is a _____ bond. A. par B. discount C. premium D. zero coupon E. floating rate 2. All else equal, a bond will sell at _____ when the coupon rate is _____ yield to maturity. A. a premium; higher than B. a premium; equal to C. par; higher than D. par; less than E. a discount; higher than 3. Which of the following cash flow patterns is an “annuity due”? A. A stream of cash flows occurring for less than two years B. An annuity stream of payments that are disbursed rather than received C. An annuity stream of payments that are received rather than disbursed D. A set of equal cash flows occurring at the end of each period E. A set of equal cash flows occurring in the beginning of each period 4. A bond with a 4 percent coupon that pays interest semi-annually and is priced at par will have a market price of _____ and interest payments in the amount of _____ each. A.
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Prelim I 2009 solution and test - Name: _ NetID: _ HADM...

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