NO.PZ201812020100000204
问题如下:
Based on Exhibit 1, which bond most likely has the highest liquidity premium?
选项:
A.Bond 1
B.Bond 2
C.Bond 3
解释:
C is correct. Bond 3 is most likely to be the least liquid of the three bonds presented in Exhibit 1 and will thus most likely require the highest liquidity premium. Low credit ratings, longer time since issuance, smaller issuance size, smaller issuance outstanding, and longer time to maturity typically are associated with lower liquidity (and thus a higher liquidity premium).
Bond
3 has the lowest credit quality and the longest time since issuance of the
three bonds. Bond 3 also has a smaller issue size and a longer time to maturity
than Bond 1. The total issuance outstanding for Bond 3 is smaller than that of
Bond 2 and equal to that of Bond 1.
老师好 这题是bond 2 和 bond 3 issue size 一样, 如果issue size 也不同的话, 和 total issurance outstanding 比较的话,两者有没有哪个优先考虑?谢谢。