Anda di halaman 1dari 12

THE UNIVERSITY OF HONG KONG School of Economics & Finance 2003-2004 1st Semester Examination

Economics: FINAOSO1 Asian Financial Institution Dr P Leung December- 22, 2003 One A4 size paper with notes on both sides is permitted. ANSWER ALL QUESTIONS 2:30-4:30p.m.

1. Compare and contrast the roles of the Hong Kong MonetaryAuthority and the Monetary Authority of Singapore as of Year End 2002 with respect to: (a) their roles as banker to the Government; (6%) (b) their roles as note-issuers; (6%) (c) the management of Government foreign reserves; (6%) (d) the types of financial institutions under their regulation; (5%) (e) their roles as banker to financial institutions; (6%) (f) the formulation and implementation of monetary and exchange rate policies.(6%) 2. What are the reasons behind the establishment of the Hong Kong Mortgage Corporation? Briefly describe its two principal methods of fundraising. (30%)
3. What are (a) currency swaps ? (b) interest rate swaps ? (c) foreign exchange swaps

(20%)

4. What are some of the main differences between Hong Kongs Mandatory Provident Fund (MPF) and Singapores Central Provident Fund (CPF) ? (15%)

END OF PAPER

THE UNIVERSITY OF HONG KONG School of Economics & Finance 2002-2003 2nd Semester Examination
Economics: FINA050 1 Asian Financial Institution Dr P Leung June 5,2003 One A4 size paper with notes on both sides is permitted. 2:OO-4:OOp.m.

ANSWER ALL QUESTIONS

1 . Compare and contrast the roles of the Hong Kong Monetary Authority and the Monetary Authority of Singapore as of Year End 2002 with respect to: (a) the formulation and implementation of monetary and exchange rate policies; (6%) (b) the types of financial institutions under their regulation; (6%) (c) the management of Government foreign reserves; (6%) (d) their roles as banker to the Government; (6%) (e) their roles as banker to financial institutions; (6%) ( f ) their roles as note-issuers; (6%) (8) their roles as clearing agents for debt instruments. (4%)
2. (a) Turnover in the foreign exchange markets of the world have declined in recent years. What are the principal reasons behind the decline? (15%) (b) Why is Hong Kongs interest rate derivatives market underdeveloped? (5%)

3. What is the difference between the money market and the capital market? Briefly describe the components of Hong Kongs money market? Explain the relationships between HIBOR, the deposit rate and the best lending rate. (20%)
4. What are: (a) Bull and Bear Instruments? (6%) (b) Mismatch Floating Rate Instruments? (8%) (c) Mortgage-backed Securities? (6%)

- END OF PAPER -

THE UNIVERSITY OF HONG KONG School of Economics & Finance 2002-2003 1st Semester Examination
Economics: FrNAO5O 1 Asian Financial Institution Dr P Leung December 17,2002 One A4 size paper with notes on both sides is permitted. ANSWER ALL QUESTIONS Compare and contrast the roles of the Hong Kong Monetary Authorityand the Monetary Authority of Singapore as of Year End 2001 with respect to: (a) the formulation and implementation of monetary and exchange rate policies; (6%) (b) the types of financial institutions under their regulation; (6%) (c) the management of Government foreign reserves; (6%) (d) their roles as banker to the Government; (6%) (e) their roles as banker to financial institutions; (6%) (f) their roles as note-issuers; (6%) (g) their roles as clearing agents for debt instruments. (4%) 2. What are the seven technical measures introduced by the HKMA in 1998? For each measure, briefly explain the reasons why it was introduced. (30%) 3. What is (a) the Liquidity Ratio ? (4%) (b) the Capital Adequacy Ratio? (6%) (c) the difference between a Code and an Ordinance ? 2:30-430p.m.

(5%)

4. Name the three principal contracts traded in the SGX-DT (Singapore Exchange Derivatives Trading) market ? Name the principal contract traded in the HKEx (Hong Kong Exchange and C1earing)'s derivatives market ? Name five other contracts traded in each market currently. (15%)

END

THE UNIVERSITY OF HONG KONG School of Economics & Finance 2001-2002 2nd Semester Examination
Economics: FINAOSO 1 Asian Financial Institution Dr P Leung May 25,2002 9:30am - 11:30am

Candidates are permitted to bring in a piece ofA4 sheet with notes to the examination.

ANSWER A L L QUESTIONS

I . Compare and contrast the roles of the Hong Kong Monetary Authority and the Monetary Authority of Singaporeas of Year End 2001 with respect to: (a) the formulation and implementation of monetary and exchange rate policies; (6%) (b) the types of financial institutions under their regulation; (6%) (c) the management of Government foreign reserves; (6%) (d) their roles as banker to the Government; (6%) (e) their roles as banker to financial institutions; (6%) (fj their roles as note-issuers; (6%) ( 6 ) their roles as clearing agents for debt instruments. (4%)
2. What are (a) Foreign Exchange Swaps? (5%) (b) CurrencySwaps? (5%) (c) Interest Rate Swaps? (5%)

3. What is the main purpose of the Code on Takeovers and Mergers? What is the "trigger point"? What is the 'kreeper point"? What are some of the penalties for the violation of the Code on Takeovers and Mergers? Why was the Code on Share Repurchase merged with the Code on Takeovers and Mergers? (25%)
(4) (a) What are the similarities and differences between a subscription warrant and a derivativewarrant? (1 0%) (b) What are the similarities and differences between a forward contract and a futures contract? ( 1 0%)

END OF PAPER