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　　1.BIS capital requirement for an unfunded, short-term (under one year) credit commitment is:
　　A. 0%
　　B. 4%
　　C. 8%
　　D. 100%
　　2.As of November 2000, which one of the following will generally receive 8% BIS capital charge (100% asset weight)?
　　A. Investment in a publicly traded stock for trading purposes.
　　B. Investment in a US government bond.
　　C. Investment in a Venture Capital fund for speculation purposes.
　　D. None ofthe above
　　3.Which of the following is not considered a traditional mechanism used by banks in mitigating credit risk?
　　A. Netting
　　B. Credit quality migration
　　C. Embedded put options
　　D. Collateralization
　　Answer:
　　1.A
　　The current BIS capital requirements allow hanks to avoid capital charges on unfunded loan commitments of less than 365 days.
　　2.C
　　Debt and equity traded securities in the trading book are excluded from thc credit risk charge, so A is incorrect. There is no charge for the U.S. government bond, regardless, so B is incorrect. In order to be excluded from the credit risk charge, the position must be marked to market, which is not likely for an investment in a venture capital fund due to the illiquid nature of venture capital investments.
　　3.B
　　A is incorrect. Netting can reduce exposures to derivative counterparties.
　　B is correct. Credit quality migration or transition matrices characterize the expected changes in credit quality of obligors.
　　C is incorrect. Embedded put options reduce downside price risk due to deteriorating credit quality.
　　They provide investors with default protection in the sense that the investor holds the right to force early redemption at a pre-specified price.
　　D is incorrect. Collateralization provides ways for direct reductions in credit exposure.