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39. To handle the financing of a large, complex project, your bank is establishing a Special Purpose Entity (SPE) for which your bank will act as trustee. Which of the following could result in liability to your bank through its role as trustee?
a. The SPE controls were unable to determine whether its investors used funds derived from legitimate business opportunities.
b. The SPE structure provided for fewer creditors and a reduced likelihood that the project would be forced into bankruptcy.
c. The SPE was formed to take advantage of a preferable legal jurisdiction.
d. The SPE’s primary purpose was to allow for the deferral of income taxes
58. You have been asked to review a memo on how market liquidity is affected by shocks to the financial system. Which of the following observations made in the memo is incorrect?
a. in periods of acute market stress, market liquidity typically increases in the most liquid markets, creating a self-correcting loop that will ultimately remove downward pressure on asset prices.
b. Evaporation of market liquidity is an important factor in determining whether and at what speed financial disturbances become financial shocks with potentially systemic threats.
c. Market shocks may not be reflected in mark-to-market portfolio values immediately for portfolios with illiquid assets. As a result, it is possible for market shocks to have delayed effects on financial institutions.
d. The impact of a market shock on the liquidity of a specific asset depends on the characteristics of the investors who own the asset..
不知道为什么选a，麻烦指教
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