School of Economics, Peking University 2002 Doctoral Entrance Examination finance questions

Exam subject: Finance

Admissions Major: Finance

Exam date: March 17, 2002 afternoon

1. Short answer questions (10 points per question, students who apply for any teacher and doctoral student major in finance must answer these 4 questions)

1. What are the reasons for the emergence of the European money market?

2. Comparative analysis of direct listing and indirect listing of companies.

3. Briefly describe the nature of life insurance benefits and their confirmation.

4. Briefly describe the principle of proximate cause and its application.

2. Detailed answers (20 points per question, students who apply for the doctoral students of Li Qingyun, Hu Jian and He Xiaofeng answer questions 1, 2 and 3, and students who apply for the doctoral students of Mr. Xiao Zhuoji and Sun Qixiang should answer questions 4, 5 and 6)

1. Discuss the economic implications of the European buyer option pricing formula c(t)=a[S(t)B*(t,T)]+b[b(t,T)] [where c(t) represents the European buyer option, S(t) represents the spot price, B(t,T) and B*(t, T) are the discounted prices of domestic and foreign bonds, and a,b is the number of chinese and local currency bonds in the portfolio, respectively].

2. On the application of asset securitization in China.

3. An overview of the capital asset pricing model (CAPM) and its implications for investment analysis.

4. Analyze the essence and characteristics of the insurance entrustment-agency relationship.

5. Analyze the basic conditions for establishing an independently operated insurance investment fund.

6. Try to analyze the impact of events like 9/11 on the insurance industry.

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