[{"data":1,"prerenderedAt":30},["ShallowReactive",2],{"q-sec_sr_invest-115-2-009":3},{"exam":4,"examName":5,"chapterSlug":6,"question":7,"related":21},"sec_sr_invest","證券商高級業務員資格測驗——證券投資與財務分析(試卷「投資學」)","c2",{"id":8,"exam":4,"session":9,"qno":10,"question":11,"options":12,"answer":17,"chapter":18,"freq":17,"explanation":19,"difficulty":20},"sec_sr_invest-115-2-009","115-2",9,"在利率期限結構中的市場區隔理論(Market Segmentation Theory)中，理論上如果長期利率下跌，則短期利率將：",[13,14,15,16],"上漲","不受影響","下跌","選項(A)(B)(C)皆非",1,"貨幣時間價值與利率理論","市場區隔理論主張長期與短期債券市場是彼此獨立、資金互不流通的市場。壽險公司因負債年期長而偏好長天期債券、銀行因資金調度需要而偏好短天期，各自固守習慣的到期區間，不會因為其他期別利率變動就轉換戰場。既然資金無法在長短期之間自由移動，長期利率下跌只反映長期市場自身的供需，短期利率理論上不受影響，故選 (B)。這正是市場區隔理論與預期理論、流動性偏好理論最大的差別：後兩者假設投資人會跨期別套利，長短期利率因此連動。(A)(C) 都預設了連動關係，(D) 因 (B) 成立而不合。","medium",[22,26],{"id":23,"question":24,"qno":25},"sec_sr_invest-115-1-002","假設小何所擁有的資金在過去一年賺取了 8%的名目利率，該期間通貨膨脹率為 4%，請問小何的實際購買力成長了多少？",2,{"id":27,"question":28,"qno":29},"sec_sr_invest-115-1-025","利率期限結構是利用下列何者導出？",25,1785904143906]