开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)|3.2.5(安卓)APP下载

ʜ ᴀ ᴢ ᴇ ʟ · 2020年11月12日

问一道题:NO.PZ2016031002000013 [ CFA I ]

问题如下:

If an investor buys a newly issued eurocommercial paper with €50,000 par value and holds it to maturity, how much is this investor most likely to pay?

选项:

A.

The investor pays less than €50,000 and receives more than €50,000 at maturity.

B.

The investor pays €50,000 and receives more than €50,000 at maturity.

C.

The investor pays less than €50,000 and receives €50,000 at maturity.

解释:

B is correct.

Eurocommercial paper pays add-on yield. If an investor buys a newly issued eurocommercial paper with €50,000 par value and holds it to maturity, the investor will pay the issuer €50,000 and receive €50,000 plus interest at maturity. However, U.S. Commercial paper is typically issued as a pure discount security, making a single payment equal to the face value at maturity.

请问如果是US commercial paler的话就是PV小于5000,FV等于5000了?
1 个答案

WallE_品职答疑助手 · 2020年11月13日

是的,US 是discount basis 不同于EU的 interest bearing basis.

  • 1

    回答
  • 1

    关注
  • 576

    浏览
相关问题

NO.PZ2016031002000013 问题如下 If investor buys a newly issueeurocommercipaper with €50,000 pvalue anhol it to maturity, how muis this investor most likely to pay? A.The investor pays less th€50,000 anreceives more th€50,000 maturity. B.The investor pays €50,000 anreceives more th€50,000 maturity. C.The investor pays less th€50,000 anreceives €50,000 maturity. B is correct.Eurocommercipaper pays a-on yiel If investor buys a newly issueeurocommercipaper with €50,000 pvalue anhol it to maturity, the investor will pthe issuer €50,000 anreceive €50,000 plus interest maturity. However, U.S. Commercipaper is typically issuea pure scount security, making a single payment equto the favalue maturity.考点eurocommercipaper解析eurocommercipaper的计价方式可以是interest-bearing,也可以是scount basis。但更常用的模式是interest-bearing,同时题干中也有most likely字样,因此采用interest-bearing模式投资者购买刚发行的50,000ECP,需要支付50,000,到期将拿到大于50,000的金额,故B正确。 想问一下,如果是美国商票的话,C是正确的吗?

2022-05-05 20:22 1 · 回答

The investor pays €50,000 anreceives more th€50,000 maturity. The investor pays less th€50,000 anreceives €50,000 maturity. B is correct. Eurocommercipaper pays a-on yiel If investor buys a newly issueeurocommercipaper with €50,000 pvalue anhol it to maturity, the investor will pthe issuer €50,000 anreceive €50,000 plus interest maturity. However, U.S. Commercipaper is typically issuea pure scount security, making a single payment equto the favalue maturity. 这道题目就是这样一组结论假设面值都是100购买us.commercipaper,投资者期初投资less th100 ,期末收到equto 100购买euro commercipaper,投资者期初投资equto 100,期末收到more th100这个结论总结是对的吗?

2020-03-13 21:14 1 · 回答

按照eurocommercipaper的定义,不是可以折价发行或interest-bearing的吗?

2020-02-01 18:53 1 · 回答

虽然a on yiel收益率、但是pvalue不是面值吗、是加上收益率之后的值吧?

2019-06-08 23:50 1 · 回答