"Fixed Income Investments": Defining Elements

來源: 正保會計網(wǎng)校編輯：小鞠橘桔 2020/10/16 10:05:28　字體：大小

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Questions 1:

Zet Bank has entered into a contract with Louly Corporation in which Zet agrees to buy a 2.5% US Treasury bond maturing in 10 years and promises to sell it back next month at an agreed-on price. From Zet Bank’s perspective, this contract is best described as a:

A、 repo.

B 、collateralized loan.

C、 reverse repo.

Questions 2:

Which of the following bonds are most likely to be bearer bonds?

A、 Foreign bonds

B 、Domestic bonds

C、 Eurobonds

View answer resolution

【Answer to question 1】C

【analysis】

C is correct. A reverse repo (repurchase agreement) is collateralized cash lending by purchasing an underlying security now and selling it back in the future.

A is incorrect because it is the contract known for Louly Corporate as a collateralized borrowing, i.e., repo.

B is incorrect because collateralized short-term borrowing involves selling the security and subsequently repurchasing the collateral posted.

【Answer to question 2】C

【analysis】

C is correct. Most Eurobonds are bearer bonds, meaning that the trustee does not keep records of who owns the bonds; only the clearing system knows who the bond owners are.

A is incorrect because most domestic bonds are registered bonds.

B is incorrect because most foreign bonds are registered bonds for which ownership is recorded by either name or serial number.

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