首页
登录
职称英语
The original issuer of a security is referred to as a borrower, and the purc
The original issuer of a security is referred to as a borrower, and the purc
游客
2025-06-21
22
管理
问题
The original issuer of a security is referred to as a borrower, and the purchaser is referred to as a lender. Most securities traded in the secondary markets belong to one of two broad classifications: bonds or stocks. Bonds are credit instruments redeemable in a given number of dollars and yielding a fixed return. Important characteristics of bonds include face (or par) value, maturity date, and coupon rate. Face values for most bonds are 5; 1 000, although some government issues have $ 10 000 face values. Face value represents the total amount of cash payable to the owner at the bond’s maturity date, which can range from 1 to 30 years. Prior to maturity, yearly coupon payments equal to the coupon rate times the face value are paid. These coupons represent a profit to the bond owner. Coupon rates on newly issued bonds closely follow the level of interest rates in the economy. Once set in the initial primary market sale, however, the coupon on a given issue will not change in response to changing interest rates in the economy. Instead, the market price of the bond changes. When a bond’s coupon rate is equal to the general level of interest rates prevailing in the economy, the bond’s market price will be equal to its face value. When the coupon rate is higher than prevailing interest rates, the bond will sell at a premium over its face value. When the coupon rate is lower than prevailing interest rates, the bond will sell at a discount from its face value. Interest on bonds constitutes a legal obligation, and failure to pay it may result in bankruptcy.
Preferred stocks are similar to bonds in that they have stated face values (often 100) and a specified dividend payment (similar to a bond’s coupon). They differ from bonds because they do not have a scheduled maturity date and because yearly dividends may remain unpaid for a few years without forcing the issuer into bankruptcy. Common stocks have no specified yearly cash payments or maturity date. These securities have an infinite life on which cash will be earned only if the issuer has satisfactory profits. Because the cash returns on bonds are the most certain, they are viewed as the least risky investment and provide the lowest expected rate of return. Preferred stocks are viewed as more risky than bonds and less risky than common stocks. Common stocks are the most risky and provide the largest expected returns. [br] According to the passage, a coupon is ______.
选项
A、part of a bond which shows the profit to the bond owner.
B、a ticket to buy something at a lower price.
C、a ticket that can be used as money.
D、a ticket that shows the face value of a bond.
答案
A
解析
转载请注明原文地址:http://tihaiku.com/zcyy/4128069.html
相关试题推荐
[img]2022m5s/ct_ve01501001z0006_epelist_0396_220430[/img][br][originaltext]I
[img]2022m5s/ct_ve01501001z0006_epelist_0391_220430[/img][br][originaltext]We
[img]2022m5s/ct_ve01501001z0006_epelist_0391_220430[/img][br][originaltext]We
[img]2022m5s/ct_ve01501001z0006_epelist_0391_220430[/img][br][originaltext]We
Wherearethespeakers?[br][originaltext]W:Excuseme,howlongcanIkeepth
Wherearethespeakers?[br][originaltext]W:Excuseme,howlongcanIkeepth
Whoisthewomanlookingfor?[br][originaltext]W:HaveyouseenAlice?M:Is
Whoisthewomanlookingfor?[br][originaltext]W:HaveyouseenAlice?M:Is
Whoisthewomanlookingfor?[originaltext]W:HaveyouseenAlice?M:Isawher
Whywasthewomannotatthemeeting?[br][originaltext]M:Inoticedyouwere
随机试题
HowtoBuildYourVocabularyEffectivelyVocabularyis
Thehero’sspeechwassomovingthatthe______wereallmovedtotears.A、publicB
Usinganimalsincircusesisanunnecessaryandinhumanepracticethat’shar
TheHistoryofLaborDayLaborDay:HowitCameAbou
下列有关投标限价的说法中,不正确的是( )。A.招标人可以自行决定是否设置最高
下列选项中不属于,确认测试进入条件的是()。A.集成软件测试报告 B.软
男性,58岁。身高165cm,体重76kg。体检时发现空腹血糖6.7mmol/L
家长督促儿童开始早晚自己刷牙的年龄是( )。A.4岁 B.6岁 C.8岁
爆炸造成的后果大多非常严重,在化工生产作业中,爆炸不仅会使生产设备遭受损失,而且
某水库工程由混凝土面板堆石坝、溢洪道和输水隧洞等主要建筑物组成,水库总库容0.9
最新回复
(
0
)