单项选择题

For which of the following securities is estimating the future cash flows least difficult（）

A. 5-year, 6% bond with two years of call protection.
B. 3-year note with a coupon of Libor + 100 basis points.
C. 8% preferred stock with mandatory redemption in five years.

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单项选择题Magmyre Investments, Ltd. , hold two bonds: a callable bond issued by Mudd Manufacturing Inc. and a put-able bond issued by Precarious Builders. Both bonds have option adjusted spreads (OAS) of 135 basis points (bp). Kevin Grisly, a junior analyst at the firm, makes the following statements (each statement is independent). Apparently, Grisly could benefit from a CFA review course, because the only statement that could be accurate is:（）

A. Given a nominal spread for Precarious Builders of 110 bp, the option cost is -25 bp.
B. The cost of the call option on the Mudd bond is - 15bp.
C. The spread over the spot rates for a Treasury security similar to Mudd’s bond is 145 bp.

单项选择题An analyst collects the following spot rates, stated as annual BEYs: 6-month spot rate =6%. 12-month spot rate =6.5%. 18-month spot rate =7%. 24-month spot rate =7.5%. Given only this information, the value of a 2 -year, semiannual-pay, 10% coupon bond with a face value of $1000 is closest to:（）

A. $918.30.
B. $1000.00.
C. $1046.77.