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1、Chapter15WhyDoFinancialInstitutionsExist?MultipleChoiceQuestions1.OfthefollowingsourcesofexternalfinancefAmericannonfinancialbusinessestheleastimptantis(a)loansfrombanks.(b)stocks.(c)bondscommercialpaper.(d)nonbankloans.

2、Answer:B2.OfthefollowingsourcesofexternalfinancefAmericannonfinancialbusinessesthemostimptantis(a)loansfrombanks.(b)stocks.(c)bondscommercialpaper.(d)nonbankloans.Answer:D3.Ofthesourcesofexternalfundsfnonfinancialbusines

3、sesintheUnitedStatesbondsaccountfapproximately_________ofthetotal.(a)10percent(b)20percent(c)30percent(d)50percentAnswer:C4.OfthesourcesofexternalfundsfnonfinancialbusinessesintheUnitedStatesstocksaccountfapproximately__

4、_______ofthetotal.(a)10percent(b)20percent(c)30percent(d)40percentAnswer:AChapter15WhyDoFinancialInstitutionsExist1879.Whichofthefollowingisnotoneoftheeightbasicfactsaboutfinancialstructure(a)Thefinancialsystemisamongthe

5、mostheavilyregulatedsectsoftheeconomy.(b)Issuingmarketablesecuritiesistheprimarywaybusinessesfinancetheiroperations.(c)Indirectfinancewhichinvolvestheactivitiesoffinancialintermediariesismanytimesmeimptantthandirectfinan

6、ceinwhichbusinessesraisefundsdirectlyfromlendersinfinancialmarkets.(d)Financialintermediariesarethemostimptantsourceofexternalfundstofinancebusinesses.Answer:B10.Becauseinfmationisscarce(a)equitycontractsareusedmuchmefre

7、quentlytoraisecapitalthanaredebtcontracts.(b)monitingmanagersgivesrisetocostlystateverification.(c)governmentregulationssuchasstardaccountingprinciplescanhelpreducemalhazard.(d)alloftheabovearetrue.(e)only(b)(c)oftheabov

8、earetrue.Answer:E11.Whichofthefollowingbestexplainstherecentdeclineintheroleoffinancialintermediaries(a)Privateproductionsaleofinfmation(b)Governmentregulationtoincreaseinfmation(c)Improvementsininfmationtechnology(d)Non

9、eoftheabovecanexplaintherecentdeclineAnswer:C12.(I)Thetotalcostofcarryingoutatransactioninfinancialmarketsincreasesproptionallywiththesizeofthetransaction.(II)Financialintermediariesfacilitatediversificationwhenaninvesth

10、asonlyasmallsumtoinvest.(a)(I)istrue(II)isfalse(b)(I)isfalse(II)istrue(c)Both(I)(II)aretrue(d)Both(I)(II)arefalseAnswer:B13.Ifbadcreditrisksaretheoneswhomostactivelyseekloanstherefereceivethemfromfinancialintermediariest

11、henfinancialintermediariesfacetheproblemof(a)malhazard.(b)adverseion.(c)freeriding.(d)costlystateverification.Answer:B14.Ifbrowerstakeonbigrisksafterobtainingaloanthenlendersfacetheproblemof(a)freeriding.(b)adverseion.(c

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