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NEW QUESTION: 1
Examine this function:

Execute the query:
SELECT remap_schema FROM dual;
Which is the correct output from the query?
A. CREATE TABLE “EMP” (“EMPNO” NUMBER (4,0), “ENAME” VARCHAR2 (10), “JOB” VARCHAR2 (9),
“MGR” NUMBER (4,0), “HIREDATE”
DATE, “SAL” NUMBER (7,2) , “COMM” NUMBER (7,2), “DEPTNO” NUMBER (2,0),
CONSTRAINT “PK_EMP” PRIMARY KEY (“EMPNO”)
USING INDEX PCTFREE 10 INITRANS 2 MAXTRANS 255
STORAGE (INITIAL 65536 NEXT 1048576 MINEXTENTS 1 MAXEXTENTS 2417483645
PCTINCREASE 0 FREELISTS 1 FREELIST GROUPS 1
BUFFER_POOL DEFAULT FLASH_CHACHE DEFAULT CELL_FLASH_CACHE DEFAULT)
TABLESPACE “USERS” ENABLE,
CONSTRAINT “FK_DEPTNO” FOREIGN KEY (“DEPTNO”)
REFERENCES “DEPT” (“DEPTNO”) ENABLE
) SEGMENT CREATION IMMEDIATE
PCTFREE 10 PCTUSED 40 INITRANS 1 MAXTRANS 255
NOCOMPRESS LOGGING
STORAGE (INITIAL 65536 NEXT 1048576 MINEXTENTS 1 MAXEXTENTS 2147483645
PCTINCREASE 0 FREELISTS 1 FREELIST GROUPS 1
BUFFER_POOL DEFAULT FLASH_CACHE DEFAULT CELL_FLASH_CACHE DEFAULT)
TABLESPACE “USERS”
B. CREATE TABLE “EMP” (“EMPNO” NUMBER (4, 0), “ENAME” VARCHAR2 (10), “JOB” VARCHAR2 (9), “MGR” NUMBER (4, 0), “HIREDATE” DATE, “SAL” NUMBER (7, 2), “COMM” NUMBER (7, 2),
“DEPTNO” NUMBER (2, 0),
CONSTRAINT “PK_EMP” PRIMARY KEY (“EMPNO”)
USING INDEX ENABLE,
CONSTRAINT “FK_DEPTNO” FOREIGN KEY (“DEPTNO”)
REFERENCES “DEPT” (“DEPTNO”) ENABLE)
C. CREATE TABLE “EMP” (“EMPNO” NUMBER (4,0), “ENAME” VARCHAR2 (10), “JOB” VARCHAR2 (9),
“MGR” NUMBER (4,0), “HIREDATE”
DATE, “SAL” NUMBER (7, 2) , “COMM” NUMBER (7, 2), “DEPTNO” NUMBER (2,0), CONSTRAINT “PK_EMP” PRIMARY KEY (“EMPNO”) USING INDEX PCTFREE 10 INITRANS 2 MAXTRANS 255
STORAGE (INITIAL 65536 NEXT 1048576 MINEXTENTS 1 MAXEXTENTS 2417483645
PCTINCREASE 0 FREELISTS 1 FREELIST GROUPS 1
BUFFER_POOL DEFAULT FLASH_CHACHE DEFAULT CELL_FLASH_CACHE DEFAULT)
TABLESPACE “SYSAUX” ENABLE,
CONSTRAINT “FK_DEPTNO” FOREIGN KEY (“DEPTNO”)
REFERENCES “DEPT” (“DEPTNO”) ENABLE
) SEGMENT CREATION IMMEDIATE
PCTFREE 10 PCTUSED 40 INITRANS 1 MAXTRANS 255
NOCOMPRESS LOGGING
STORAGE (INITIAL 65536 NEXT 1048576 MINEXTENTS 1 MAXEXTENTS 2147483645
PCTINCREASE 0 FREELISTS 1 FREELIST GROUPS 1
BUFFER_POOL DEFAULT FLASH_CACHE DEFAULT CELL_FLASH_CACHE DEFAULT)
TABLESPACE “SYSAUX”
D. CREATE TABLE “SCOTT”. “EMP” (“EMPNO” NUMBER (4, 0), “ENAME” VARCHAR2 (10), “JOB” VARCHAR2 (9), “MGR” NUMBER (4, 0), “HIREDATE” DATE, “SAL” NUMBER (7, 2), “COMM” NUMBER (7, 2), “DEPTNO” NUMBER (2, 0), CONSTRAINT “PK_EMP” PRIMARY KEY (“EMPNO”)
USING INDEX ENABLE,
CONSTRAINT “FK_DEPTNO” FOREIGN KEY (“DEPTNO”)
REFERENCES “DEPT” (“DEPTNO”) ENABLE)
Answer: B

NEW QUESTION: 2
Click the Exhibit button.

You have an MPLS network and you have configured least-fill as your CSPF tiebreaker.
Using the information in the exhibit, which path will be used to signal a new LSP requiring 12 Mbps?
A. Path 4
B. Path 3
C. Path 2
D. Path 1
Answer: A

NEW QUESTION: 3
Jack Thomas and Tim Bentley are analysts for Bond Analytics (BA). BA provides bond analysis for mutual fund managers, hedge fund managers, and institutional money managers in the United States. BA specializes in the valuation of international bonds and callable bonds, using intrasector analysis to find undervalued bonds. In addition to valuing the bonds, they also advise clients on whether to hedge currency risk for international bonds. Thomas has been a particularly strong advocate of hedging the currency risk of international bonds, especially in emerging markets, using forward contracts when they are available.
At a morning meeting, Thomas and Bentley are trying to decide whether to hedge the currency risk of a large issue of bonds from a Thai manufacturer of pressed steel, Nakhon Metals. The client considering purchasing the bonds is a large U.S. mutual fund, Epsilon Funds. Epsilon has started to explore the possibility of earning higher returns through currency management using forward contracts. Thomas and Bentley discuss the various hedges of currency risk for the Nakhon Metals bond. One possibility is using a forward hedge position on the Thai baht. A second possibility is using forward contracts where the baht is delivered for Korean won. Thomas states that the second hedge would be pursued if the won was expected to appreciate more against the U.S. dollar than the baht. In the second hedge, the manager would sell won for dollars at the future spot rate.
Thomas and Bentley gather the following information on the expected changes in the various currencies, the 1-year cash rates in the respective countries, and the expected return on the Nakhon bond.

Additionally, the Nakhon Metals bond has a duration of 7.30 and is being compared against a bond denominated in U.S. dollars, issued by Powhatan Industries. The Powhatan bond has a duration of 4.2 and a yield of 4.50%. Whichever bond is purchased will be held for the next year. Thomas projects that the yield for the Nakhon Metals bond is expected to increase by I 5 basis points while the yield on the Powhatan Industries bond is expected to stay constant.
The following day, Thomas and Bentley discuss the market for and valuation of callable and long duration bonds. They believe that interest rates are temporarily low and for this reason want to be careful about their bond investments. Although they could hedge interest rate risk, they prefer not to because they believe it reduces the ultimate long-term return.
Thomas says that due to secular changes in the bond market, bonds with structures are expected to become more scarce. He says that the problem with callable bonds has been that they typically trade at a premium due to their scarcity. Bentley states that bonds with long durations also trade at a premium because they are scarce as well.
Thomas states that the performance of callables and non-callables may differ when interest rates change due to the inherent call risk. He discusses the relative performance under two scenarios:
* Scenario A: Interest rates are near coupon rates and fall for both callables and non-callables by the same amount.
* Scenario B: Interest rates are historically very low and rise for both callables and non-callables by the same amount.
Based on interest rate expectations and ignoring currency effects, determine whether the Nakhon Metals bond or Powhatan Industries bond should be more attractive over the one-year time horizon.
A. The Nakhon Metals bond should be more attractive.
B. The Powhatan Industries bond should be more attractive.
C. Neither bond should be more attractive.
Answer: B
Explanation:
Explanation/Reference:
Explanation:
In breakeven rate analysis, the analyst determines the yield change that makes the returns on bonds equivalent. Recall that we hold the short duration bond constant and examine the yield change in the longer duration bond that would make the returns equivalent.
To determine the yield change ar which the investor would be indifferent between purchasing rwo bonds, we must first compare the bonds' yields over the holding period. Over the 1-year time horizon, the Nakhon Metals bond has a yield advantage of 0.70% (5.2% - 4.5%). For the returns to be equivalent over the 1- year time horizon (assuming the bonds are purchased at their current prices), the price for the Nakhon Metals bond must fall by 0.70%. For its price to fall, its yield must increase. The magnitude of the yield change is provided by rearranging the modified duration formula:

So if the yield for the Nakhon Metals bond increases by 9.59 basis points and the yield for the Powhatan Industries bond remains constant, the returns for the two bonds will be equivalent over the next year.
Given that the Nakhon Metals bond has an initial yield advantage of 0.70%, its return will be higher as long as its yield does not increase by more than 9.59 basis points over the next year. In this case, the yield on the Nakhon Metals bond is expected to increase by 15 basis points, so the Powhatan Industries bond is more attractive. (Study Session 10, LOS 31 -j)

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