課程名稱︰貨幣銀行學
課程性質︰大三必修
課程教師︰李怡庭
開課學院：社會科學院
開課系所︰經濟系
考試日期（年月日）︰96年11月22日
考試時限（分鐘）：120分鐘
是否需發放獎勵金：是
（如未明確表示，則不予發放）
試題 :
1.簡答題 (第四小題列出算式判斷即可不用算出答案)
(1)(5%) 何以產物保險公司通常比人壽保險公司所持有的資產流動性較高?
(2)(5%) 持有債權和股權各自的的好處是什麼?
(3)(6%) 請說明為何貨幣定義M2不包含待交換票據?
(4)(6%) To pay for colleage, you have just taken out a $1,000 government loan
that makes you pay $126 per years. However, you don't have to start making
these payments until you graduate from colleage two years from now. Why is the
yield to maturity necessarily less than 12%?(hint: The yield to maturity on a
normal $1,000 fixed payment loan in which you pay $126 per year for 25 years
is 12%.)
2.(12%) 請說明銀行如何透過資產轉換(asset transformation)進行風險分攤(risk
sharing)的功能。
3.(12%) 請以貨幣的良好性質(good properties of money) 闡釋何以黃金比牛皮更容易成
為交易媒介。
4.(24%) 請解釋下列事件對債卷需求曲線、債卷供給曲線和均衡利率的影響,並以圖形說明
(1)央行總裁宣示抑制通貨膨脹之決心，且人們相信他的宣示。
(2)Reading the Wall Street Journal "credit market" column: "Treasury drop
ahead of Bush Stimulus Package - selloff is fueled by report of more
extensive plan than investors expected."
5.Suppose that you are considering the purchase of a 2-year coupon bond with
the annual coupon rate 10% and face value $1,000.
(1)(8%) Suppose that you bought the bond at the time when the market interest
rate is 10%. After you just purchase the bond, market interest rate suddenly
rises to 11%. What is the bond worth now? what is the capital gain(or loss)
if you sell the bond now?
(2)(10%) After you have received the first coupon payment and the market
interest rate is still 11%. How much would another investor be willing to pay
for the bond? Calculate the rate of return if you sell the bond now.
6.(12%) 請問下列台灣的金融工具中哪些屬於貨幣市場工具?哪些屬於資本市場工具?
(1)金融業拆款 (2)股票 (3)兩年期定期存單 (4)國庫卷 (5)可轉讓定期存單
(6)活期儲蓄存款 (7)公司債 (8)附買回協定 (9)金融債卷 (10)銀行承兌匯票
(11)商業本票 (12)人壽保險
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