課程名稱︰投資銀行管理 課程性質︰ 課程教師︰蘇永成 開課學院：管理學院 開課系所︰財金系 考試日期（年月日）︰2012/6/19 考試時限（分鐘）：180 是否需發放獎勵金：是 （如未明確表示，則不予發放） 試題 : General instructions: 1. This is a close book exam. Try your best to answer the following four questions. 2. Good luck!!! Question I. Explain in detail primary market making on (i) underwriting syndicate position, (ii) underwriting syndicate profit and loss function, and (iii) risk and return of under-pricing in underwriting syndicate, under the framework of Black-Scholes option pricing model.(30%) How do investment bankers support primary market makings by secondary market makings?(5%) Question II Show by graphs and examples the participants, price settings and equilibrium conditions in three basic types of market making.(30%) Question III Explain dealer functions in secondary market making.(5%) How do market makers adjust inventory in return-order imbalance relation.(10%)Disscuss in detail price-volume relation in hedging and speculative trading strategies. (20%)

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