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1、Chapter15WhyDoFinancialInstitutionsExist?MultipleChoiceQuestions1.OfthefollowingsourcesofexternalfinancefAmericannonfinancialbusinessestheleastimptantis(a)loansfrombanks.(b)stocks.(c)bondscommercialpaper.(d)nonbankloans.
2、Answer:B2.OfthefollowingsourcesofexternalfinancefAmericannonfinancialbusinessesthemostimptantis(a)loansfrombanks.(b)stocks.(c)bondscommercialpaper.(d)nonbankloans.Answer:D3.Ofthesourcesofexternalfundsfnonfinancialbusines
3、sesintheUnitedStatesbondsaccountfapproximately_________ofthetotal.(a)10percent(b)20percent(c)30percent(d)50percentAnswer:C4.OfthesourcesofexternalfundsfnonfinancialbusinessesintheUnitedStatesstocksaccountfapproximately__
4、_______ofthetotal.(a)10percent(b)20percent(c)30percent(d)40percentAnswer:AChapter15WhyDoFinancialInstitutionsExist1879.Whichofthefollowingisnotoneoftheeightbasicfactsaboutfinancialstructure(a)Thefinancialsystemisamongthe
5、mostheavilyregulatedsectsoftheeconomy.(b)Issuingmarketablesecuritiesistheprimarywaybusinessesfinancetheiroperations.(c)Indirectfinancewhichinvolvestheactivitiesoffinancialintermediariesismanytimesmeimptantthandirectfinan
6、ceinwhichbusinessesraisefundsdirectlyfromlendersinfinancialmarkets.(d)Financialintermediariesarethemostimptantsourceofexternalfundstofinancebusinesses.Answer:B10.Becauseinfmationisscarce(a)equitycontractsareusedmuchmefre
7、quentlytoraisecapitalthanaredebtcontracts.(b)monitingmanagersgivesrisetocostlystateverification.(c)governmentregulationssuchasstardaccountingprinciplescanhelpreducemalhazard.(d)alloftheabovearetrue.(e)only(b)(c)oftheabov
8、earetrue.Answer:E11.Whichofthefollowingbestexplainstherecentdeclineintheroleoffinancialintermediaries(a)Privateproductionsaleofinfmation(b)Governmentregulationtoincreaseinfmation(c)Improvementsininfmationtechnology(d)Non
9、eoftheabovecanexplaintherecentdeclineAnswer:C12.(I)Thetotalcostofcarryingoutatransactioninfinancialmarketsincreasesproptionallywiththesizeofthetransaction.(II)Financialintermediariesfacilitatediversificationwhenaninvesth
10、asonlyasmallsumtoinvest.(a)(I)istrue(II)isfalse(b)(I)isfalse(II)istrue(c)Both(I)(II)aretrue(d)Both(I)(II)arefalseAnswer:B13.Ifbadcreditrisksaretheoneswhomostactivelyseekloanstherefereceivethemfromfinancialintermediariest
11、henfinancialintermediariesfacetheproblemof(a)malhazard.(b)adverseion.(c)freeriding.(d)costlystateverification.Answer:B14.Ifbrowerstakeonbigrisksafterobtainingaloanthenlendersfacetheproblemof(a)freeriding.(b)adverseion.(c
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