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RSM ch16

カード 116枚 作成者: Siyang Fan (作成日: 2016/02/04)

  • which 3 factors make up financial system

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  • 1

    which 3 factors make up financial system

    補足(例文と訳など)

    答え

    • financial market institution financial instrument(security)

    解説

  • 2

    two most common ways that fund s are trans-erred between borrowers and savers

    補足(例文と訳など)

    答え

    • financial market and financial institution

    解説

  • 3

    types of security

    補足(例文と訳など)

    答え

    • money instrument(short-term) debt bonds( issued by government and corporation)-->risk rating/ mortgage-backed loan shares

    解説

  • 4

    why buy common shares?

    補足(例文と訳など)

    答え

    • 1.dividends 2.potential price increase of shares

    解説

  • 5

    two ways to hand primary market

    補足(例文と訳など)

    答え

    • open auction underwriting

    解説

  • 6

    what is market order and limit order

    補足(例文と訳など)

    答え

    • .

    解説

  • 7

    depository institution

    補足(例文と訳など)

    答え

    • commercial bank, saving bank , credit union

    解説

  • 8

    with widest service, and most important financial institution

    補足(例文と訳など)

    答え

    • financial bank

    解説

  • 9

    major source of home mortagage

    補足(例文と訳など)

    答え

    • savings bank

    解説

  • 10

    insure deposit in financial institution(CDIC)

    補足(例文と訳など)

    答え

    • Canada deposit insurance corperation

    解説

  • 11

    non-depositary institution

    補足(例文と訳など)

    答え

    • pension fund, insurance

    解説

  • 12

    These companies sell shares to investors and, in turn, invest the proceeds in securities. Many individuals today invest a large portion of their retirement savings in ____shares.

    補足(例文と訳など)

    答え

    • mutual fund

    解説

  • 13

    credit union difference with commercial banks?

    補足(例文と訳など)

    答え

    • lend most to individual in the form of home mortagage

    解説

  • 14

    Bank of Canada 4 main tools

    補足(例文と訳など)

    答え

    • open market operations overnight rate(guideline) selective credit control foreign currency

    解説

  • 15

    financial market is usually regulated by the federal or provincial

    補足(例文と訳など)

    答え

    • both, primary by provincial level

    解説

  • 16

    list 3 types of money market instruments

    補足(例文と訳など)

    答え

    • 1.treasury bills 2.certificate of deposit 3.commercial paper

    解説

  • 17

    CDs of $______ or less per depositor are insured by the Canada Deposit Insurance Corporation (CDIC).

    補足(例文と訳など)

    答え

    • 100,000

    解説

  • 18

    *CDs in larger denominations are not federally insured but can be sold more easily before they mature.

    補足(例文と訳など)

    答え

    • .

    解説

  • 19

    commercial paper matures 1--__天

    補足(例文と訳など)

    答え

    • 270

    解説

  • 20

    when firm gets into bankruptcy, liquidation, acquisition, bondholders claim asset before shareholders

    補足(例文と訳など)

    答え

    • .

    解説

  • 21

    what is the difference between bond and money market instrument?

    補足(例文と訳など)

    答え

    • one is long-term, another is within one year

    解説

  • 22

    list 4 types of bonds issued by different bonds

    補足(例文と訳など)

    答え

    • government bond, municipal bond, corporate bond, mortgage-backed bonds

    解説

  • 23

    canada saving bond is issued by

    補足(例文と訳など)

    答え

    • government of Canada

    解説

  • 24

    *Canada saving bond is affordable

    補足(例文と訳など)

    答え

    • .

    解説

  • 25

    2 types of bonds of corporate bond with regard to collateral

    補足(例文と訳など)

    答え

    • secured bond unsecured bond

    解説

  • 26

    *unsecured bonds are backed by financial health and reputation, and need credit rating

    補足(例文と訳など)

    答え

    • .

    解説

  • 27

    who issues mortgage backed bond?

    補足(例文と訳など)

    答え

    • financial institution

    解説

  • 28

    which security caused the credit crisis

    補足(例文と訳など)

    答え

    • mortgage backed security

    解説

  • 29

    3 way to determine the price of bond:

    補足(例文と訳など)

    答え

    • risk , interest rate and market interest rate

    解説

  • 30

    Bond investors use a tool called ____ to assess the risk of a bond

    補足(例文と訳など)

    答え

    • rate rating

    解説

  • 31

    In Canada,_____ provides bond ratings service

    補足(例文と訳など)

    答え

    • dominon bond rating service

    解説

  • 32

    the standard of investment grade bond is?

    補足(例文と訳など)

    答え

    • AAA~BBB

    解説

  • 33

    the standard of junk bond, or speculative bond?

    補足(例文と訳など)

    答え

    • BB below

    解説

  • 34

    *criticism centred on the conflict of interest from ratings companies also advising companies on how to structure their bond offerings

    補足(例文と訳など)

    答え

    • .

    解説

  • 35

    3 famous bond-rating organization

    補足(例文と訳など)

    答え

    • fitch moody's standard&poor

    解説

  • 36

    _____allows the issuer to redeem, or cash, the bond before its maturity at a specified price

    補足(例文と訳など)

    答え

    • call provision

    解説

  • 37

    issuers tend to call bonds when market interest rates are ______

    補足(例文と訳など)

    答え

    • decreasing

    解説

  • 38

    *faster-growing companies pay less in dividends because they need more funds to finance their growth. investors expect shares that pay little or no cash dividends to show a greater increase in value compared with shares paying larger cash dividends.

    補足(例文と訳など)

    答え

    • .

    解説

  • 39

    * long run share prices tend to follow a company’s profits.

    補足(例文と訳など)

    答え

    • .

    解説

  • 40

    *Holders of preferred shares receive dividends.

    補足(例文と訳など)

    答え

    • .

    解説

  • 41

    what are disadvantages of preferred share

    補足(例文と訳など)

    答え

    • 1. no voting right 2. fixed dividend

    解説

  • 42

    *preferred shares are paid fixed dividends, regardless of how profitable the firm becomes. Preferred shares are legally classified as equity, but many investors consider preferred shares to be more like a bond than common shares.

    補足(例文と訳など)

    答え

    • .

    解説

  • 43

    *convertible security (bond, preferred share) can be converted into common shares

    補足(例文と訳など)

    答え

    • .

    解説

  • 44

    Convertible bonds pay___interest rates than bonds without conversion features, which helps to reduce the issuing firm’s interest expenses

    補足(例文と訳など)

    答え

    • lower

    解説

  • 45

    why Investors are willing to accept lower interest rates of convertible security

    補足(例文と訳など)

    答え

    • because they value the possibility of additional gains if the price of the firm’s shares increase.

    解説

  • 46

    financial markets is markets where _____are issued and traded

    補足(例文と訳など)

    答え

    • security

    解説

  • 47

    the difference between financial market and financial institution

    補足(例文と訳など)

    答え

    • market is about security

    解説

  • 48

    primary markets financial markets where firms and governments issue securities and sell them initially to the _____

    補足(例文と訳など)

    答え

    • general public

    解説

  • 49

    When a company offers shares for sale to the general public for the first time, it is called_____

    補足(例文と訳など)

    答え

    • IPO, initial public offering

    解説

  • 50

    written advertisement placed by investment bankers in a public offering of a security( primary market)

    補足(例文と訳など)

    答え

    • tombstone

    解説

  • 51

    Securities are sold to the investing public in two ways:

    補足(例文と訳など)

    答え

    • open auction investment banker( financial institution)

    解説

  • 52

    all securities sold through open auctions are_______

    補足(例文と訳など)

    答え

    • Government of Canada securities

    解説

  • 53

    Sales of most corporate and municipal securities are made through_____

    補足(例文と訳など)

    答え

    • financial institutions

    解説

  • 54

    These institutions purchase the issue from the firm or government and then resell the issue to investors. This process is known as _______

    補足(例文と訳など)

    答え

    • underwriting

    解説

  • 55

    The size of the underwriting discount is generally _____ for share issues than for bond issues. For example, underwriting discounts for IPOs are generally between 7 and 10 percent

    補足(例文と訳など)

    答え

    • higher

    解説

  • 56

    *Financial institutions underwrite shares and bond issues at a discount. This discount is compensation for the financial institution’s services, including the risk financial institutions take on when they underwrite a new security issue.

    補足(例文と訳など)

    答え

    • .

    解説

  • 57

    the average discount of underwriting is ____

    補足(例文と訳など)

    答え

    • 5%

    解説

  • 58

    *Corporations and governments are willing to pay for the services provided by financial institutions because they are financial market experts. The underwriter typically locates buyers for the issue and advises the issuer on several details

    補足(例文と訳など)

    答え

    • .

    解説

  • 59

    The issuer selects a lead, or primary, financial institution, which forms a _______consisting of other financial institutions

    補足(例文と訳など)

    答え

    • syndicate

    解説

  • 60

    _____is a collection of financial markets where previously issued securities are traded among investors.

    補足(例文と訳など)

    答え

    • secondary market

    解説

  • 61

    *The corporations or governments that originally issued the securities being traded are not directly involved in the secondary market

    補足(例文と訳など)

    答え

    • .

    解説

  • 62

    Toronto stock exchange is a secondary or primary market?

    補足(例文と訳など)

    答え

    • secondary

    解説

  • 63

    *The secondary market handles four to five times the dollar value of securities as are handled in the primary market.

    補足(例文と訳など)

    答え

    • .

    解説

  • 64

    *stock market is secondary market

    補足(例文と訳など)

    答え

    • .

    解説

  • 65

    stock market is also called__

    補足(例文と訳など)

    答え

    • exchange

    解説

  • 66

    * bond trading is less than 1 percent of the total value of securities traded on the TSX during a typical year

    補足(例文と訳など)

    答え

    • .

    解説

  • 67

    *NYSE is the world’s largest stock market

    補足(例文と訳など)

    答え

    • .

    解説

  • 68

    *Nasdaq Stock Market is world second largest stock market

    補足(例文と訳など)

    答え

    • .

    解説

  • 69

    *NASDAQ is computerized communications network that links member investment firms. It is the world’s largest intranet.

    補足(例文と訳など)

    答え

    • .

    解説

  • 70

    *London Stock Exchange takes place using a Nasdaq-type computerized communications network.

    補足(例文と訳など)

    答え

    • .

    解説

  • 71

    *The London Stock Exchange is the most international of all stock markets

    補足(例文と訳など)

    答え

    • .

    解説

  • 72

    *The London Stock Exchange is the most international of all stock markets

    補足(例文と訳など)

    答え

    • .

    解説

  • 73

    ____is the direct trading of exchange- listed stocks off the floor of the exchange

    補足(例文と訳など)

    答え

    • fourth market

    解説

  • 74

    The fourth market has begun to open up to smaller, individual investors through markets called____

    補足(例文と訳など)

    答え

    • electronic communications networks (ECNs)

    解説

  • 75

    *Most investors aren’t members of the TSX or any other stock market; they need to use the services of a brokerage firm to buy or sell shares

    補足(例文と訳など)

    答え

    • .

    解説

  • 76

    two kinds of stock orders?

    補足(例文と訳など)

    答え

    • 1.market order 2.limit order

    解説

  • 77

    *financial institutions can be classified into depository and non-depository institution

    補足(例文と訳など)

    答え

    • .

    解説

  • 78

    non-depository institutions include (4)

    補足(例文と訳など)

    答え

    • life insurance pension plan mutual fund finance company

    解説

  • 79

    *electronic banking: electronic funds transfer systems (EFTSs)

    補足(例文と訳など)

    答え

    • .

    解説

  • 80

    *Canadians were the highest users of Internet banking

    補足(例文と訳など)

    答え

    • .

    解説

  • 81

    Most commercial bank deposits are insured by ______, a federal agency. If a CDIC-insured bank fails, its depositors are paid in full by the CDIC, up to $100,000

    補足(例文と訳など)

    答え

    • Canada deposit insurance corporation

    解説

  • 82

    _____ are co-operative financial institu- tions that are owned by their depositors, all of whom are members

    補足(例文と訳など)

    答え

    • credit unions

    解説

  • 83

    *credit unions are not-for-profit institutions

    補足(例文と訳など)

    答え

    • .

    解説

  • 84

    *credit unions often pay higher rates of interest on deposit, charge lower rates of interest on loans, and charge fewer fees

    補足(例文と訳など)

    答え

    • .

    解説

  • 85

    *Deposits at credit unions are insured at the provincial level

    補足(例文と訳など)

    答え

    • .

    解説

  • 86

    *nondepository institutions do not offer cheque account

    補足(例文と訳など)

    答え

    • .

    解説

  • 87

    what does underwriting mean for insurance company

    補足(例文と訳など)

    答え

    • Underwriting is the process insurance companies use to determine whom to insure and how much to charge

    解説

  • 88

    The insurance company accepts the risk in return for a series of payments, called ______

    補足(例文と訳など)

    答え

    • premium

    解説

  • 89

    *Insurance companies are a major source of short- and long-term financing for businesses

    補足(例文と訳など)

    答え

    • .

    解説

  • 90

    *Credit unions are designed to serve consumers, not businesses

    補足(例文と訳など)

    答え

    • .

    解説

  • 91

    pension plans are set up by ___ and are funded by regular contributions from employers and employees

    補足(例文と訳など)

    答え

    • employees

    解説

  • 92

    * pension funds have predictable long-term cash inflows and very predictable cash outflows, they invest heavily in assets, such as common stocks and real estate

    補足(例文と訳など)

    答え

    • .

    解説

  • 93

    *Consumer and commercial finance companies offer___-term loans to borrowers

    補足(例文と訳など)

    答え

    • short

    解説

  • 94

    *A commercial finance company supplies short-term funds to businesses that use their tangible assets as collateral for the loan

    補足(例文と訳など)

    答え

    • .

    解説

  • 95

    *Finance companies raise funds by selling securities or by borrowing funds from commercial banks

    補足(例文と訳など)

    答え

    • .

    解説

  • 96

    *finance company tends to finance so many specialized industry

    補足(例文と訳など)

    答え

    • .

    解説

  • 97

    ____are financial intermediaries that raise money from investors by selling shares. They then use the money to invest in securities that meet the mutual fund’s objectives.

    補足(例文と訳など)

    答え

    • mutual funds

    解説

  • 98

    *a share-based mutual fund invests mainly in common shares.

    補足(例文と訳など)

    答え

    • .

    解説

  • 99

    half of mutual fund assets are invested in _____, _____funds are also popular

    補足(例文と訳など)

    答え

    • shares, money market instrument

    解説

  • 100

    The Bank of Canada has four basic responsibilities:

    補足(例文と訳など)

    答え

    • regulating monetary policy, designing and issuing bank notes, regulating the financial system, and managing funds for the federal government and other clients.

    解説

  • 101

    what are M1 and M2

    補足(例文と訳など)

    答え

    • chequing account, cash+ saving account, money market mutual fund

    解説

  • 102

    two major policy tools for controlling the growth in the supply of money and credit:

    補足(例文と訳など)

    答え

    • discount rate open market operation

    解説

  • 103

    discount rate is often referred to as ___

    補足(例文と訳など)

    答え

    • Bank rate

    解説

  • 104

    *open market operation-----government security

    補足(例文と訳など)

    答え

    • .

    解説

  • 105

    *When the Bank sells govern- ment securities, money is taken out of circulation and interest rates rise

    補足(例文と訳など)

    答え

    • .

    解説

  • 106

    *overnight rate is a bench market of open market operation

    補足(例文と訳など)

    答え

    • ..

    解説

  • 107

    credit controls include the power to set ______—the percentage of the purchase price of a security that an investor must pay in cash when making credit purchases of shares or bonds.

    補足(例文と訳など)

    答え

    • margin requirement

    解説

  • 108

    *open market operation is used frequently, and bank rate is used only with market operations

    補足(例文と訳など)

    答え

    • .

    解説

  • 109

    The Bank can ___ the exchange value of the dollar by selling dollars and buying foreign currencies.

    補足(例文と訳など)

    答え

    • decrease

    解説

  • 110

    ____was the percentage of cash that banks were required to maintain for immediate withdrawal by customers

    補足(例文と訳など)

    答え

    • reserve requirement

    解説

  • 111

    The ____ the reserve requirement, the more the money supply could increase

    補足(例文と訳など)

    答え

    • lower

    解説

  • 112

    *Bank of Canada removed the reserve requirement

    補足(例文と訳など)

    答え

    • .

    解説

  • 113

    The main purpose of _____is to ensure public confidence in the safety and security of the banking system.

    補足(例文と訳など)

    答え

    • bank regulation

    解説

  • 114

    _____is defined as the use of material nonpublic information about a company to make investment profits

    補足(例文と訳など)

    答え

    • inside trading

    解説

  • 115

    wo examples of self-regulation of security market

    補足(例文と訳など)

    答え

    • rules of conduct market surveilance

    解説

  • 116

    a third party supervise the running of stock market in market surveilance

    補足(例文と訳など)

    答え

    • IIROC( investment industry regulatory organization of Canada)

    解説

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