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玛卡巴卡123 · 2022年11月23日

请问这道题的考点在哪里啊？哪个章节第几页呢？

  1. FRM II
  2. Market Risk Measurement And Management

NO.PZ2016070202000030

问题如下：

What is the main reason why convertible bonds are generally issued with a call?

选项：

A.

To make their analysis less easy for investors

B.

To protect against unwanted takeover bids

C.

To reduce duration

D.

To force conversion if in-the-money

解释：

D is correct. Companies issue convertible bonds because the coupon is lower than for regular bonds. In addition, these bonds are callable in order to force conversion into the stock at a favorable ratio. In the previous question, for instance, conversion would provide equity capital to the firm at the price of $40, while the market price is at $45.

请问这道题的考点在哪里啊？哪个章节第几页呢？

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DD仔_品职助教 · 2022年11月23日

嗨，从没放弃的小努力你好：


同学你好，

这部分二级没有，是在一级金融市场与产品里有讲解。具体请看下图：

具体考试题型请同学关注经典题讲义，里面的题目跟考试匹配度非常高，本题库仅供练习。

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加油吧，让我们一起遇见更好的自己！

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NO.PZ2016070202000030问题如下Whis the main reason why convertible bon are generally issuewith a call? A.To make their analysis less easy for investors B.To proteagainst unwantetakeover bi C.To reration To forconversion if in-the-moneyis correct. Companies issue convertible bon because the coupon is lower thfor regulbon. In aition, these bon are callable in orr to forconversion into the stoa favorable ratio. In the previous question, for instance, conversion woulprovi equity capitto the firm the priof $40, while the market priis $45.请问老师这道题的考点在哪里，或者站在发行人的角度还是投资人的角度呢，还是不太明白为什么选择叙述的是正确的，但是并不能为什么可转债多数是Call吧，难道是因为Call对投资者有利，所以发行人多数选择Call的方式发行可转债？

2022-03-13 17:27 1 · 回答

NO.PZ2016070202000030 To proteagainst unwantetakeover bi To reration To forconversion if in-the-money is correct. Companies issue convertible bon because the coupon is lower thfor regulbon. In aition, these bon are callable in orr to forconversion into the stoa favorable ratio. In the previous question, for instance, conversion woulprovi equity capitto the firm the priof $40, while the market priis $45. 老师，B我的理解是，有投资者买大量可转债，再转换成股票，如果超过一定额度，比如50%，不就等于发行人被投资者收购了吗？这时候发行人有call的权利，把债券赎回，就可以阻止被收购，所以应该是对的？的force转换，在价内，投资者可以选择转也可以不转，不是一定要转吧？

2021-04-13 07:45 1 · 回答

老撕你好，感觉c也没问题啊，我可转债一转maturity不就小了，ration不就小了，感觉这个答案很讲道理啊

2020-08-13 22:06 2 · 回答

题目里面的call是不是对发行人的？相当于要求投资人变成股东，不然发行人就要把债券赎回？以此给投资者压力？

2019-11-04 17:37 1 · 回答