推 lucas12417 :已收精華區:) 01/13 18:29
課程名稱︰投資銀行管理
課程性質︰財金系選修
課程教師︰蘇永成
開課學院：管理學院
開課系所︰財金系
考試日期（年月日）︰98.01.13
考試時限（分鐘）：180 mins
是否需發放獎勵金：是 謝謝
（如未明確表示，則不予發放）
試題 :
General instructions :
1. This is a close book exam. Try your best to answer the following four
questions.
2. Good luck !!!!
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Q I.
Show by graph and explain the possible LBO structures. (15%)
During LBO process, junk bond and mezzanine issue the most important
financing tool. Discuss the characteristics of junk bond and mezzanine
issue. (10%)
Q II.
Explain the possible broker abuses. (25%)
Q III.
Under the framework of Black and Scholes option pricing model, explain
the primary market making behaviors of (i) underwriting syndicate position,
(10%) (ii) underwriting syndicate profit and loss function, (5%) and (iii) risk
and return of under-pricing in underwriting syndicate. (10%)
Q IV.
Show with graphs the process of issuing mortgage pass-through and
CMO. (20%) Explain the potential relations of these financial innovations
with the most recent global financial crisis. (5%)
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