Gaining ________ requires delivering more value and satisfaction to target consumers than competitors do
A) competitive advantage
B) first-mover advantage
C) economies of scale
D) comparative advantage
E) differentiation
A
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Just prior to the global financial crisis, mortgage loans known as NINJA loans were issued to borrowers. What is a NINJA loan?
A) A loan issued by a Japanese bank, thus avoiding U.S. regulation. B) A loan document originated by a mortgage banker named Bruce Lee. C) A loan issued to borrowers with no income, employment, nor assets to speak of. D) A loan issued with a "martial arts" clause.
Company X and Company Y have been offered the following rates
Fixed Rate Floating Rate Company X 3.5% 3-month LIBOR plus 10bp Company Y 4.5% 3-month LIBOR plus 30 bp Suppose that Company X borrows fixed and company Y borrows floating. If they enter into a swap with each other where the apparent benefits are shared equally, what is company X's effective borrowing rate? A. 3-month LIBOR?30bp B. 3.1% C. 3-month LIBOR?10bp D. 3.3%