NO.PZ2023010301000041
问题如下:
An inverse floater will most likely have:
选项:
A.a maximum coupon rate.
a face value that changes as the reference rate changes.
a coupon rate that changes by more than the change in the reference rate.
解释:
Correct Answer: A
The general formula for the coupon rate of an inverse floater is C – (L × R), where C is the maximum coupon rate if the reference rate (R) is equal to zero and L is the coupon leverage, which is greater than zero.
B is incorrect. The face value of an inverse floater does not change as the reference rate changes; rather, the coupon rate changes.
C is incorrect. Inverse floaters can have leverage less than 1 (deleveraged inverse floaters), so the coupon rate changes by less than the change in the reference rate; leverage greater than 1 (leveraged inverse floaters), so the coupon rate changes by more than the change in the reference rate; or leverage equal to 1, so the coupon rate changes by the same amount as the change in the reference rate.
没看明白,选项和问题。