金融专业英语练习

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金融英语练习题答案

金融英语练习题答案对于金融从业者和学习金融专业的学生而言，加强对金融英语的练习和理解是非常重要的。

下面将提供一些金融英语练习题的答案，并解释相关的金融术语和概念，帮助读者更好地掌握金融英语知识。

1. What is the meaning of IPO?IPO stands for Initial Public Offering. It refers to the first sale of stock by a company to the public. It is often used by private companies to go public and raise capital for various purposes, such as expanding their business or paying off debts.2. What does ROI stand for?ROI stands for Return on Investment. It is a measure used to evaluate the efficiency or profitability of an investment. ROI is calculated by dividing the net profit of an investment by the initial cost of the investment and expressing it as a percentage.3. What is a bull market?A bull market refers to a financial market characterized by rising stock prices and optimistic investor sentiment. It is associated with strong economic growth and positive market trends. In a bull market, investors are generally confident and willing to buy stocks, anticipating further price increases.4. What is a bear market?A bear market is the opposite of a bull market. It refers to a financial market characterized by falling stock prices and pessimistic investor sentiment. It is associated with economic downturns and negative market trends. In a bear market, investors tend to sell stocks to avoid further losses, leading to a downward spiral of prices.5. What is the difference between stocks and bonds?Stocks represent ownership in a company, while bonds represent debt issued by companies or governments. When an individual purchases stocks, they become a shareholder of the company and have the potential to earn dividends and capital gains. On the other hand, bonds are considered loans made by investors to the issuer, and they earn fixed interest payments over a specified period.6. What is diversification?Diversification is a risk management strategy that involves spreading investments across different assets, sectors, or regions to reduce exposure to any single investment. By diversifying their portfolio, investors aim to minimize the impact of potential losses from any individual investment and increase the likelihood of achieving positive returns overall.7. What is a hedge fund?A hedge fund is an investment fund that pools capital from accredited investors or institutional investors and uses various strategies to generate high returns. Hedge funds typically have more flexibility and can invest in a wide range of assets, including stocks, bonds, derivatives, and currencies.They also tend to use leverage and alternative investment techniques to achieve their investment objectives.8. What is a credit rating?A credit rating is an assessment of the creditworthiness of a borrower, such as a company or government, which indicates the likelihood of defaulting on its debt obligations. Credit rating agencies assign ratings based on various factors, including financial stability, repayment history, and market conditions. The ratings range from AAA (highest quality) to D (default).以上是对金融英语练习题的解答以及相关金融术语和概念的讲解。

《金融专业英语》习题答案

Chapter One Functions of Financial Markets 一．Translate the following sentences into Chinese.1.China’s banking industry is now supervised by the PBC and CBRC. In addition, the MOFis in charge of financial accounting and taxation part of banking regulation and management.目前中国银行业主要由中国人民银行和银监会进行监管。

此外，财政部负责银行业监管的财务会计及税收方面。

2.Currently Chinese fund management companies are engaged in the following business:securities investment fund, entrusted asset management, investment consultancy, management of national social security funds, enterprise pension funds and QDII businesses.目前中国的基金管理公司主要从事以下业务：证券投资基金业务、受托资产管理业务、投资咨询业务、社保基金管理业务、企业年金管理业务和合格境内机构投资者业务等。

3.China's economy had 10% growth rate in the years before the world financial crisisof 2008. That economic expansion resulted from big trade surpluses and full investment.Now China is seeking to move away from that growth model. The country is working to balance exports with demand at home.在2008年世界经济危机之前的那些年，中国经济增长速度曾达到10%。

金融英语练习答案

金融英语练习答案:Lesson 1I. 1.need 2.specialization 3.double coincidence of wants 4.exchange rate 5. money6.medium of exchange7. Commodity money such as cornmodity / common standard value9. store of wealth 10.parchasing power 11.Banknotes. 12.Fiduciary money 13.redemption rate 14.Fiat money 15. legal tender 16.fiduciary money 17.paper money 18.price level 19.reserve rax 20. checkII Translation:1.Money mainly serves three functions :a medium of exchange, a standard of value and a store ofwealth.2.The greater the specialization in the division of labor increased ,the more difficult in finding goodsthat have a double coincidence of wants.3.The value of money is reflected by its purchasing power.4.Fiat money is declared legal tender by the government ,meaning that creditors must accept it aspayment for debt.5.The bearers/holders of fiduciary money may require bank to redeem for gold or other valuablecommodity.6.The fractional reserve banking system requires the banks to keep certain reserve ratio.7.The money that most countries in the world use today is fiat money.8.The wide application of fiduciary money reduces that cost of transactions.9.There were several metals which have been used as commodity money in the history, such as iron,copper, gold ,silver and so on.10.The value of fiat money lies in that people believe that it can be exchanged for commodity andservice.Lesson 2:I.1.investors 2.consumoption / saving 3.enterprises 4. savings 5.investment 6.home7.loan 8.deposit 9.uill rise 10.fallII1.The interest rate refers to the ratio of the interest amount to the proceeds deposited and loaned in agiven period.2.Interest is the price of capital; which is like the market price for general commodity .Theoretically ,itis determined by demand and supply.3.China’s interest rate has been adjusted and reformed for several times .Before 1978,the policy ofgradually rising interest rate was adopted.4.The mutual relation of all kinds of interest rate comprises the structure of interest rate. Generally ,theinterest rate of longer tenor is higher than that of shorter tenor in terms of the same kind of interest rate.5.Among various interest rate, the interest rate for deposit is lower that for loan; the interest rate offeredby commercial bank is higher than discount rate offered by the central bank.6.At present ,China’s interest rate system consists of the interest rate of bank, non-bank financialinstitution, portfolio and market.7.The discount rate offered by central bank refers to the discount rate for the instrument held by thecommercial banks. it reflects the redemption rate for the amounts of rediscount instrument.8.Due to free competition ,the demand and supply of currency borrowing and lending tend to bebalanced out through market mechanism .in this case ,the market interest rate is called equilibrium rate.9.The bond interest rate is interest rate paid by the government, banks and corporation for theaccommodation in the form of issuing, securities in domestic or foreign financial markets.10.The interest rate for corporate bond is basically determined by the bond issuing corporation itself, butthe government exercises control by setting the ceiling.Lesson 3:I.1.Firrancial intermediary 2.demard deposit /checking account 3.savings and loan associations, mutual savings bank and credit union. 4.Federal reserve system ernment securities/require that member banks hold reserves equal to some fraction of their deposits. 6.Feder Reserve Board 7.Federal Open market committee 8.reserve requirements 9.the ceiling 10. interest rate level 11.portfolios 12.outstanding loans 13.were deregulated 14.deposit insurance 15.merge with other banks 16. automatic teller machines 17.By pooling funds of many share holders 18.branches 19.The banking holding company 20.financialII1.Federal Reserve System was established in 1914,with its aim to stabilize the banking system. thepower of the Federal Reserve System was enhanced and centralized after the failures of many American banks in the Great Depression. The Arts passed in1980s authorized the Federal Reserve System with the power to regulate all the saving institutions. The main powers of Federal Reserve System were:(1)guide the transactions of open market so to control supply of money by buying and selling government securities,(2)determine the reserve requirements for saving institution (3)setting rediscount rate.2.The banking regulations in Great Depression made bank a trade that closely controlled andpredictable. But the high interest rate in 1970s disturbed the peaceful days of saving institutions. But many banks still couldn’t survive in the transive period of keen competition.Lesson 4:1.as a result of /helped to /by the time2.concerned about/at the outset3.offerd to take/in dollars/departure fromTransaction account is checking account which can write checks on deposits balance. They have three forms, the first one is “Demand Deposit”which banks don’t pay explicit interest; the second one is “ other checkable deposits”, which includes NOW(Negotiable Order of Withdrawal)accounts; the third one is Money Market Deposit accounts. Although banks can’t pay explicit interest on demand deposit, they can pay implicit interest in the form of proving free services. Different from NOW accounts, commercial banks don’t need to maintain reserves, so banks pay higher interest on the NOW accounts. At present, transaction account is the second largest debt form of the commercial banks.Lesson 5I1.as well as 2.in total assets 3.intermediate 4. title 5.an agent 6.Financial instruments 7.pay 8.as par 9.documentary letters of credit 10.prof-of –shipment documents . 11. HedgingII. Translation:Lesson 6I.1.bank 2.discount 3.buyers/sellers 4.short-term 5.borrowing/lending 6.deposits7.brokers 8.loans 9.linked 10.marketII Translation:1.The activities of money market mainly aim at keeping the liquidity of assets so that they can bechanged into cash on demand.2.On one hand, the money market meets the demand for short-term money of borrowers, one the otherhand, it finds a way out for lenders who have temporary excessive money.3.The Financial instruments of money market mainly are short-term treasury bill, commercial bill, bankacceptance, certificate of deposits, the tenors of these instruments range from one day shortest to one year longest.4.The participants of buying and selling short-term assets in the money market are individuals, businessfirms, various financial institutions, and governments. They act either as the provider of funds or as the demander of funds.5.As the intermediary of money market, various financial institutions have different functions inaffecting the demand for and supply of funds in the capital market, because their stress of importance on business if different.6.The commercial banks provide the money market mainly with short-term loans mainly with themoney obtained from deposits and other sources.7.In many countries, commercial banks are in the position of key importance in the money market,while the central bank controls commercial banks by various means so as to control money market. 8.Just as a country can’t be without a government, the money market can’t be without a central bank,whose activities in money market will affect the volume of money and interest rate at any time.9.The inter-bank market refers to the market where financial institutions solve the problem of excessiveor short of money by financing one another.10.With the development of the reform of financial system in our country, the inter-bank markets startedto develop rapidly.Lesson 7I.1.firms 2.inter rate /exchange 3. regional exchange 4.negotiable 5.exchange6.bond7.funds8.outstanding9.brokers 10.dealers.II. Translation:1.According to the situation of various countries, the issuance of government bonds adopts the methodof raising money from public, which can be divided into direct and indirect ones.2.The government bonds outstanding are not all held by individuals, but by the government units,financial institutions and the public commonly.3.The government should keep a stable increase for the issuance of securities, if the market price for thegovernment bonds often fluctuate, the investors will be reluctant to hold the government bonds.4.Corporate bonds are the certificates that the business owes to the public, it is the issuing corporationthat makes a promise to pay certain amount of money plus interest at a fixed date in future.5.The better the credit standing of a company, the longer maturity of the bond is ,but the solvency ofcorporate bonds cannot be compared with that of government, so the longest tenor of corporate bond will not be very long.pared with stock investment, the holders of corporate bonds can only have the interest income asthe fixed reward for the investment, but they can’t share the profit of the corporation like share holders.pared with stocks, corporation bonds have lower risks, but the safety can’t be compared to that ofgovernments bonds, that’s why the return ration is always higher than government bonds.8.With the rapid development of capitalist industry, shareholding corporation system becomesirresistible trend.9.The price of stocks are of substantial fluctuation, which makes investment of stocks very speculative.10.The market price of stocks is subject to the status of operation, allocation of profits, as well as to theeconomical, political social factors that make the price of stocks more volatile.Lesson 8I. 1.foreign 2.activities/lend 3.standing 4.role 5.independent 6.consortium banks7.money 8.bond 9.subsidiary 10.EurocurrencyII. Translation:1.In most countries, commercial banks all establish international department or foreign department inorder to deal in foreign exchange or to raise money for foreign trade.2.Due to the development of international banking business and the establishment of the bank’soverseas network organization, commercial banks of western countries become real multinational banks.3.The international network of the multinational bank includes branch, subsidiary, correspondent,resident representative and so on.4.The activities of the multinational bank through exclusive international network are retail deposit,money market activities, foreign trade financing, corporation loans, foreign trade business, investment business, trust business and so on .5.Because most of the clients of the multinational bank are large corporations and banks, they mainlydeal in retail deposits with few retail loans.6.The multinational banks put surplus money into money market when the demand is low, but raisemoney when demand is on rise.7.The tenor of foreign trade financing is usually short with high return, mostly denominated in thecurrency other that of the country where the bank locates.8.Corporation loans refer to the loans given to private business, state-owned business, especially to themultinational corporation.9.Foreign exchange business includes buying and selling foreign exchange and hedging conducting inforeign exchange market for the clients.10.Investment business refers to the underwriting of international securities and the distribution activities,as well as advisory service for customers and governments in the issue of securities.Lesson 9I.1.short-term 2.medium-term /long-term 3.restrictions 4.deposits 5.absence6.Euro currencies7.borrowers abroad8.entities9.deposits 10. convertibleII. Translation:1.Eurodollar refers to the deposits denominated in US dollar in various banks outside USA andEuropean branches of American banks, as well as the loans obtained by these banks.2.Off-shore money market is concentrated by Eurocurrency market , which is habitually called theEurodollar market, because the currency traded in this market is mainly Eurodollar.3.Eurobanks deal in Eurocurrency business which is strictly separated from domestic banking.4.London in the largest Eurodollar market, engaging in both deposit and loan, with huge volume oftransactions.5.Eurobank’s business usually not subject to local banking rules, such as deposit rate and maturity,therefore, banks can compete freely to attract customers.6.The interest rate for Eurodollar deposit is higher than for US domestic deposit since there is noreserve requirement for Eurodollar deposit nor premium insurance.7.The emergence of Eurodollar is due to the deficit of American balance of payments The accumulationof huge deficit and the outflow of large amount of US dollar resulted in substantial increase of Eurodollar deposits.8.The brokers or dealers of American stock Exchange often borrow Eurodollars from Eurodollarmarket.9.The Eurodollar market is a short-term wholesale market of inter bank, it functions in Europe asproviding banks with liquidity like the federal fund market in USA.10.Banks put the money in the Eurodollar market when the liquidity is excessive and borrow moneywhen the liquidity is in squeeze.Lesson 10I. Part(1)1.the creation of money 2.cooperative /voluntarily 3.external/economic reforms4.the par value system5.on demand6.stable/predictable/disadvantages7.float8.quota subscriptions 9.needy/favorable 10.buying power/importsPart(2)1.subsidize 2. internal 3.bargain 4.peg 5.payments 6.assistance/sufficient7.stabilizing/strengthening 8.repay/repayment period 9.effectively11.lower/export/governmentII. Translation:1.The fund shows great concern over the internal economic policies of its member countries.2.The Fund is a cooperative institution, overseeing/supervising and monitoring the foreign exchangepolicies its member countries.3.The exchange of currency is the center of financial connection/relation among various countries, aswell as a dispensable tool of world trade.4.Due to constant fluctuation of exchange rate for major/leading currency, the dealers of foreignexchange may gain profit or suffer loss.5.The convertibility of currencies facilitates tourism, trade and investment in a worldwide scale.6.By analyzing the wealth and economic status of each member the fund determines the quotasubscription for each member. The richer the country is, the higher quota it Subscribes.7.Since the abandonment of the par value system, the membership of the Fund has agreed to allow eachmember to choose its own method of determine an exchange value for its money.8.Man large industrial nations allow their currencies to float, other countries peg the value of theircurrency to that of a major currency of a group of currencies so that, for example, as the U.S. dollar rises in value their own currencies rise too.9.The source of finance of the Fund mainly comes from the quota subscription of its member countriesat the same time, the Fund also borrows money from member governments or their monetary authorities.10.The Fund lends money according to regulation to the member countries with a payments problem,due to their expenditure in foreign exchange exceeding income.Lesson 11I. Part(1)1.catalyst 2.equity 3. creditworthy 4.reschedule/made 5.carry6.fourfold7.share8.foreign exchange9.attained 10.indexPart(2)1.productivity 2.affiliates 3.self-sustaining 4.call up 5.quota/economic strength6.a third/raised7.politicalitary/political9.enjoined 10.indexII Translation:1.The IBRD has more than 140 member countries, which all subscribe quotas to the bank.2.The IBRD gives loans only to creditworthy borrowing countries for the project that has a high realrates of economic return.3.The IDA gives loans only to poorest countries with a annual GNP per capita lower than $795.Actually, 80% of IDA’s loans are given to the countries with annual per capita GNP lower than $410.4.The IDA gives loans only to the government of the borrowing countries, with maturity of 50 years(repayable over 50 years) with grace period of 10 years, no interest.5.In the past decade, the volume of the IBRD’s loans have increased by fourfold.6.The IBRD has helped to develop agriculture, improve education, increase the output of energy,expand industry, create better urban facilities, promote family planning, extend telecommunications network, modernize transportation systems, improve water supply and sewerage facilities, and establish medical care.7.It’s hard to say that the IBRD’s decisions on loans are not influenced by the political character of theborrowing countries.8.Some of the earliest borrowing countries of the IBRD have graduated from the reliance on the IBRD’sloans, in return they become the provider of the IBRD’s finance source.9.The IBRD and IFC jointly provide funds for many projects.10.The more quota the member country subscribes, the more votes it gains.Lesson 12I . Part(1) 1.foster 2.raise 3.subregional/regional 4.multilateral 5.cost-effective6.evaluation7.weighted8.proportional9.paid in 10.developrnental Part(2) 1.equity 2.private 3.subscriptions 4.installment 5.subscribed6.coordinate7.procurement8.absorb9.pooling 10.bidsII. Translation:1.The purpose of the ADB is to provide fund and technical assistance to its developing membercountries in the Asia-Pacific region and to promote investment and foster economic growth.2.The shortage of capital, lack of skilled labor, poor technology, limited markets and the vagaries ofnature have impeded the economic development of the developing countries.3.The Bank’s Charter provides that the capital owned by the Asia-Pacific member countries should notbe less than 60% of total equity.4.Multilateral institution plays an important role in the economic development.5.The projects for bank financing are identified after strictly evaluated.6.The ADB keeps close working relationship with the United Nations as well as all kinds of specialinstitution.7.Some member countries in Asia-Pacific region voluntarily increase their subscriptions.8.The main subscribers of the ADB have no veto. In practice, decisions are reached by process ofdiscussion rather than by voting.9.The capital structure of the ADB is crucial/vital key to its loan/financing capacity.10.The ADB is authorized to make and guarantee loans to its member countries.Lesson 13I 1. surplus 2.surplus 3.deficit 4.capital 5.demand 6.supply 7.supply/demand8.outstanding 9.demand 10.supplyII. Translation:1.Just as a country’s domestic economy should have a financial record, a country’s authority should alsohave a statistical summery for all the external economic and financial transaction of its residents.2.The content of the balance of payments concept differs in different historical stage.3.In narrow sense, the balance of payments is defined as the receipts and payments arising frominternational trade or receipt and payments in foreign exchange.4.The balance of payments is a kind of statistic statement in the given period, which reflects thetransactions of goods, services and incomers of an economy.5.The statement of balance of payments is a kind of material that statistical financial transactions in thegiven period according to the form stipulated by IMF.6.The items entering into credit includes goods and services provided from abroad and so on.7.The items entering into debit includes goods and services obtained from abroad and so on.8.Receipts and payment arising from international trade is the most important item in current account,which comprise export and import of various commodities. Generally, the export and import of commodities account for the biggest proportion in the international transactions.9.Capital account reflects the changed of a country’s foreign assets and liabilities. The financial assethere doesn’t include monetary gold and Special Drawing Rights.10.In order to alter the deficits of our country’s balance of payments, the government adopts a series ofpolicies and measures, for examples, reduce domestic basis construction, adjust the structure of exporting and importing commodity, improve the environment for foreign investment, lower the exchange rate of our currency to the main currencies in the world, and so on.Lesson 14I .1.strike 2.The exchange rate 3.bank deposits 4.coordinates5.Arbitraggeurs6.discrepancies7.depreciation8.appreciation9.foreign exchange market 10.speculatorsII. Translation:1.It’s vitally important for those who are engaged in international finance to be aware of the tender offoreign exchange market.2.As long as the foreign exchange floats, there always exist the risks of change of foreign exchange rateand interest rate.3.The arbitrageurs make profits by taking advantage rate across markets to buy low and sell high.4.The buyers and sellers come to an agreement of transaction according to the exchange rate of twocurrencies.5. A greater demand for foreign goods and services means a greater demand for foreign exchange.6.The view that the price of us dollar will fall might note be wrong.7.If more people want to exchange pound into US dollar, the change of exchange rate is favorable to USdollar, and unfavorable to pound when the demand exceeds the supply.8.If the supply of certain goods is excessive, the demand for the goods will go down/decline.9.To devaluate a country’s currency can encourage export.10.There are tow ways to express foreign exchange rate.Lesson 15I. Part (1) 1. fluctuate 2.predictable 3.Capital flows 4.manufactured 5.speed6. refinements7.open/bonds/exchange8.devaluation9.nominal10.halvePart(2) 1.devalues 2.priced 3.demand 4.expectations 5.profit 6.fund7.closed 8.reduces 9.real 10.verticalII. Translation:。

金融专业英语参考[五篇范文]

金融专业英语参考[五篇范文]第一篇：金融专业英语参考金融专业英语一、选择题（一共10题，每题2分，共20分）第8题和第16题替补再后面。

1.Only what happens if the supply is less than demand?（actual price is higher than the equilibrium price）2.When the Consumer income and established conditions for commodity prices is still, consumers can buy the two commodities to the greatest number of combinations.What did the Line call?（consumption may Line）3.Opportunity cost:（Measures the cost of doing “x” in terms of what else might be done）4.The normal downward slope of demand curves is necessarily explained by:（Limited spending power）5.For a closed two-good economy, the output of the two goods should be at the point where:（The highest indifference curve touches the production possibility curve）.The “J-curve” shows that following depreciation:（The cost of imports rises immediately from the price effect, worsening the current account bal-ance, but later quantities of imports and exports respond and the current account balance im-proves）7.Which of the following statements about standby letters of credit is true? :（They can serve as a guarantee to a buyer against a seller defaulting）8.What information would you find in a statement of cash flows that you would not be able to get from the other two primary financial statements?（Total liabilities due to creditors at the end of the period）*8&16.Which of the following is not a characteristic of a competitive industry?(There is a fierce price war among rivals.)9.Which of these best describesthe U.S.Federal Reserve?（Responsible for monetary policy/money supply）10.What is the basic purpose of profits in our market economy?（Lead businesses to produce what consumers want）11.Which of the following will NOT cause a shift in the demand for baseballs?(An increase in the price of baseballs)12.Decreasing returns to scale may arise from(Inefficiencies in management)13.If the marginal rate of technological substitution(MRTS)is more than the price ratio of labor over capital(w/r), then to minimize cost the firm should Decrease the input of capital and increase the input of labor.14.The price of a good changes, both the substitution effect and the income effect reinforce each other, then the good is a(n)(Normal good)15.What market is the Most in need of the advertising?(Competitive monopoly market)16.American economist Modigliani’s life-cycle hypothesis is that:(Work time after retirement savings for the consumer finance)17.According to the rules of debit and credit for balance sheet accounts:(Decreases in asset and liability accounts are recorded by credits)18.Individuals will accept the medium of exchange in return for goods and services only if they are confident that:(They can exchange it for gold)19.The prices of meat products in a competitive market are determined by:(Supply and demand)20.Which one of the following is most likely to improve the wages of American workers?(An increase in productivity)二、阅读题（一共5题，每题4分，共20分）Reading A:Laura James is the head portfolio manager for national Fund 1.Assume an industry exhibits tendencies of “regression toward the mean.”This could mean all of thefollowing EXCEPT:（Profits increase as firms enter the industry）2.In a recessionary environment, an automaker such as Ford would be expected to:（Produce lower end vehicles）3.Assume domestic automakers are growing at a rate of –2%.Ford expects to increase its market share by 0.5%.What is Ford’s growth rate?（–1.51%）(1 + growth of firm sales)=(1 + growth of industry sales)x(1 + fractional change of market share)= 0.98 x 1.005= 0.9849Growth of firm sales = –1.51%4.Suppose instead that Ford’s growth of firm sales is expected to be –3% and the growth of industry sales is 1%.What is Ford’s expected change in market share?（-4%）0.97 = 1.01 x(1 + x)0.9604 = 1 + x–3.96% = x5.Which of the following scenarios would be most likely to have a positive impact on Ford’s market share?（An increase in its marketing budget）Reading B:Liquidity is a measure of how quickly an item may be converted to cash.1.Long-term assets are all assets other than current assets.(Doesn’t say)2.Supplies are less liquid than accounts receivable, and furniture and buildings are even less so.(Right)3.People are interested in liabilities on the balance sheet because it is relatively liquid.(Wrong)Reading C:Whereas the money markets provide very short-term loans, the capital market takes account of medium and long-term loans.4.An industrial corporate can meet its financial needs by seeking funds from the capital markets.(Right)5.Nowadays a private business usually obtains its workingcapital through a commercial bank.(Wrong)6.In the UK commercial banks often raise funds by issuing bands and stocks.(Doesn’t say)三、简答题（一共8题，每题5分，共40分）需要先把题目翻译成中文，用英语回答内容。

金融英语业务知识练习试卷1(题后含答案及解析)

金融英语业务知识练习试卷1(题后含答案及解析) 题型有： 2. 单项选择题单项选择题1．Which of the following would be considered a disadvantage of allocating resources using a market system?______.i. Income will tend to be unevenly distributed.ii. Significant unemployment may occur.iii. The wastage of scarce economic resources cannot be prevented.iv. A misallocation of resources may occur where there is a discrepancy between private and social costs.A．iv onlyB．i and iiiC．ii, iii and ivD．i and iv正确答案：C解析：答案为C项。

尽管市场经济有众多优势，能够实现资源的有效配置，但它也有缺陷，如广义收入的分配问题、缺乏公共物品以及对外在性问题的忽略等。

本题除i不是市场经济进行资源配置的缺陷外，其余都是。

故本题选C项。

知识模块：金融英语业务知识2．Which of the following is not a factor of production according to economists?______.A．LandB．LabourC．EntrepreneurshipD．Trademark正确答案：D解析：答案为D项。

factor of production“生产要素”。

经济学家一般将其划分为劳动(labour)、土地(land)、资本(capital)和企业家才能(entrepreneurship)。

金融英语练习题(附答案)

Multiple Choice1. The People’s Bank of China shall have the power to demand financial institutions to submit balance sheets, statements ofD and other financial and accounting reports and materials in pursuance of regulations.A. accountB. financial positionC. cash flowD. profit and loss2. A credit card such as Visa will D .A. gurantee chequesB. enable the holder to cash cheques at any bankC. enable the holder to buy goods on creditD. enable the holder to buy goods, up to certain amounts, on credit from certain persons3. Foreign trade can be conducted on the following terms except for DA. open accountB. documentary collectionC. documentary creditsD. public bonds4. Customers trading abroad in foreign currencies may protect against the exchange risk by arranging C .A. a contract of international sale of goodsB. a contract of marine insuranceC. a forward contract to fix the exchange rate in advance5. The danger to the exporter in open account trading is that by surrendering the shipping documents to the importer, heB before he has obtained payment for them.A. is in control of the goodsB. losses control of the goodsB. retain control of the goods D. gives up control of the goods6. Leasing is an arrangement whereby one party obtains on a long-term basis A which belongs to another party.A. the use of a capital assetB. the use of a current assetC. the use of working capitalD. the use of current liabilities7. From a Chinese bank’s point of view, the currency account which it maintains abroad is known as , while a RMB account operated in China for a foreign bank is termed B .A. a vostro account, a nostro accountB. a nostro account, a vostro accountC. a mirror account, a nostro accountD. a vostro account, a mirror account8. Find the interest on US $65,000 for 14 days at 3 percent per annum.B .A. US $37.91B. US $75.83C. US $113.74D. US $227.499. Which of the following can not be included in the functions ofmoney?D 。

《金融专业英语》习题集

Chapter One Functions of Financial Markets一．Translate the following specialized terms into Chinese1.China’s banking industry is now supervised by the PBC and CBRC. In addition, the MOFis in charge of financial accounting and taxation part of banking regulation and management.1。

中国银行业现在由央行与银监会监管。

此外，财政部是在财务会计和银行监管和管理税务部主管。

目前中国基金管理公司从事以下业务：证券投资基金，委托资产管理，投资咨询，全国社会保障基金的管理，企业年金基金及QDII业务。

金融英语练习第一章

金融英语练习第一章姓名_____________________ 学号：_____________________1. Complete each statement of the following with the best one:1. In order to facilitate purchases in the future, we require a commodity that can be used asA. a store of valueB. a legal tenderC. a medium of exchangeD. a standard of deferred payment2. Because of the functions of a store of value and a unit of account, a debt stated in dollars can be repaidA. with any commodities as you likeB. to meet the needs of the sellerC. in money at a later date plus interestD. at any time if we have the currency3. The extent to which money can be “socially acceptable” depends onA. the value of the commodity used as moneyB. people’s confidence in using or owning moneyC. what is selected as moneyD. standard of unit of value4. A government bond states the face value in terms of dollars and when the bond matures, the government pays the bondholder the face value of the bond in dollars, which is the function of ____ of money.A. medium of exchangeB. a unit of accountC. store of valueD. standard of deferred payment5. If you want to store money for future purchases, you can __ unit there is a need.A. leave it in a bank accountB. exchange it for other types of commodityC. trade it for valuablesD. defer the payment6. The production of money should be restricted either through legislation or a limited supply because ____ if anyone could produce money with little cost.A. it is not safe to have too much moneyB. money is too easy for people to produceC. money would lose its value as a medium of exchangeD. money would not be accepted universally7. The Fed places the MMDAs and MMMFs in ___ along with savings and time deposits in consideration ofthe two forms of money mainly used for savings and only secondarily for transactions.A. M1B. M2C. M3D. reserves8. Much attention is focused on the rate at which the money supply grows because money growth ___ inflation,unemployment, and general economic activity.A. determinesB. encouragesC. promotesD. influences9. Currency, coins, and demand deposit in commercial banksare used primarily for transactions or as _____A. a reserve of the loansB. a measure of money supplyC. a medium of exchangeD. a fixed asset10. ____ is the most closely watched of the three measures of the money supply.A. M1B. M2C. M3D. Ms11. Suppose a bank has a 10 percent reserve ratio, $5,000 in deposits, and it loans out all it can given the reserveratio.A. It has $50 in reserves and $4,950 in loans.B. It has $500 in reserves and $4,500 in loans.C. It has $555 in reserves and $4,445 in loans.D. None of the above is correct.12. The reserve ratio is 5 percent and a bank receives a new deposit of $500, this bankA. must increase its required reserves by $25.B. will initially see its total reserves increase by $500.C. will be able to make a new loan of $475.D. All of the above are true.13. When a bank loans out $100, the money supplyA. does not change.B. increases.C. decreases.D. may do any of the above.14. An open market saleA. increases the money supply.B. doesn't change the money supply.C. decreases the money supply.D. has an indeterminate effect on the money supply.15. The balance sheet for the following three questions.First Bank of ErehwonAssets LiabilitiesRequired Reserves $20.00 Deposits $100.00Loans $80.00⑴. The reserve ratio isA. zero percent.B. 20 percent.C. 80 percent.D. percent.⑵. If $1,000 is deposited into the F irst Bank of Erehwon,A. liabilities will decrease by $1,000.B. assets will increase by $1,000.C. total reserves will initially increase by $200.D. required reserves will increase by $800.⑶. If the reserve ratio is 12.5 percent, then $5,600 of money can be generated byA. $64 of new reserves.B. $448 of new reserves.C. $700 of new reserves.D. $800 of new reserves.16. Under a fractional-reserve banking system, banksA. hold more reserves than deposits.B. generally lend out a majority of the funds deposited.C. cause the money supply to fall by lending out reserves.D. All of the above are correct.17. When a bank loans out $1,000, the money supplyA. does not change.B. decreases.C. increases.D. may do any of the above.18. If the reserve ratio for all banks is 12.5 percent, then $2,000 of additional reserves can create up toA. $8,000 of new money.B. $16,000 of new money.C. $32,000 of new money.D. None of the above is correct.19. Banks act as intermediaries byA. bringing together car buyers and auto dealersB. bringing together real estate brokers and home buyersC. printing money for all to useD. serving the credit needs of borrowers and the security needs of saversE. selling shares of stock to investors20. Asymmetric information in financial markets exists whenA. teachers know more about banking than students doB. borrowers know more about their ability to repay loans than lenders doC. lenders know more about borrowers than borrowers know about themselvesD. borrowers pay off a loan before it is dueE. borrowers and lenders know more about banking than banks do21. Coins in the United States are manufactured and distributed by theA. FedB. U.S. MintC. U.S. TreasuryD. FBIE. Controller of the Currency22. If you returned a $5Federal Reserve note to the Fed, you could receiveA. $5 in silverB. $5 in goldC. 5 one-dollar billsD. 10 one-dollar billsE. a small gold bar23. If a bank has $6000 in checkable deposits and the required reserve ration is 0.2, then the bank can lendA. $4000B. $16000C. no more than $4800D. no less than $3000E.$100024. Suppose that a bank has $6000 in checkable deposits and the required ratio is 0.2. If the bank wishes to hold no excess reserves, its actual reserves will beA. $4000B. $1200C. $3000D. less than $1000E. $480025. Bank reserves can be held in the form ofA. loans and cash in the bank’s vaultB. loans and deposits with the FedC. loans and checking accountsD. deposits with the Fed and cash in the bankE. deposits with the Fed and checking accounts26. Suppose the required reserve ration is 0.1 and Linda deposits $4000 in cash at the College State Bank. If the bank held no excess reserves before Linda’s deposit and now increases its reserves by $500, which of the following is true?A. The bank must have lent out an additional $4000B. The $500 are required reservesC. The bank has excess reserves of $100D. Both the bank’s assets and its liabilities rise by $500E. The bank has $500 in excess reserves27. Suppose a commercial bank’s reserves increase by $3000 and the bank, which holds no excess reserves, makesa loan of $2400. What is the required ratio?A. 0.1B. 0.2C. 0.25D. 0.75E. 428. If the required ratio is 0.1 and the Fed buys a $5000 security from a depository institution, what happens to the money supply?A. NothingB. It increases by $5000C. It decreases by $5000D. It increases by $50000E. It decreases by $5000029. The banking system creates money in the sense that itA. prints moneyB. creates excess reserves from loansC. creates loans from excess reservesD. creates required reserves from loansE. creates loans from required reserves30. If r is the required reserve ratio, which of the following is the simple money multiplier?A. rB. 1/(1-r)C. 1-rD. 1/rE. r231. If the simple money multiplier is 5, the required reserve ratio must beA. 5%B. 0C. 10%D. 50%E.20%32. The Fed’s sale of US government securities in open market operations constitutes aA. contractionary policy because it lowers the amount of total reserves in the banking systemB. contractionary policy because it lowers the amount of required reserves in the banking systemC. expansionary policy because it raises the amount of total and excess reserves in the banking systemD. expansionary policy because it raises the amount of excess reserves and lowers the amount of requiredreserves in the banking systemE. expansionary policy because it raises the amount of required reserves in the banking system33. The primary tool the Fed uses to control the money supply isA. the discount rateB. the required reserve ratioC. the discount windowD. charteringE. open market operations34. Decreasing the required reserve ratio isA. a contractionary policy because it lowers the amount of total reserves in the banking systemB. a contractionary policy because it lowers the amount of excess reserves in the banking systemC. an expansionary policy because it raises the amount of required reserves in the banking systemD. an expansionary policy because it raises the amount of total reserves in the banking systemE. an expansionary policy because it raises the amount of excess reserves in the banking systemPassage 1A credit card is a plastic card (or its equivalent) to be used upon presentation by the cardholder to obtain money, goods, or services, possibly under a line of credit established by the card issuer. The cardholder is billed for any outstanding balance.Credit card customers are given a credit limit on the credit card account and can buy goods services up to this amount. Normally, banks will set different credit lines for the different groups of cardholders. Every time cardholder uses a credit card for purchasing, he/she must sign a sales slip in the presence of the seller, and the signature is then compared to the signature on the card. Copies of the sales ships have the details of the cardand they also show the details and amount of the sale.Each month the cardholder receives a statement from the bank which details all the transactions in the month, together with the total amount outstanding and any minimum amount that needs to be paid. When the full balance is not settled each month, the cardholder is charged a compound interest (say 0.05%) on the outstanding balance, and this is supposed to provide the bank with a main source of income (although in china, this revenue is still low because people are reluctant to run into debt). Other two major sources of credit card services are the annual fee from the cardholders and the percentage of the sales revenue as the commission paid by the seller.1. A credit card is a plastic card and the like to be used to obtain money, goods, or services and an overdraft is not allowed.A. RightB. WrongC. Doesn’t say2. Normally, banks will set different credit limits on different customers’ credit card accounts.A. RightB. WrongC. Doesn’t say3. Each month the credit cardholder will receive a statement from the bank showing the details of the transactions excluding the total amount outstanding.A. RightB. WrongC. Doesn’t say4. If the balance of the credit card is not fully settled, thecardholder will have to pay a compound interest on the outstanding amount.A. RightB. WrongC. Doesn’t sayPassage 2Economists define money (or, equivalents, the money supply) as anything that is generally accepted inpayment for goods of services or in the payment of debts. Currency, which is dollar bills and coins, clearly fits this definition and is one type of money. When most people talk about “money”, they are talking about currency. To d efine money merely as currency is much too narrow for economist. Because checks are also accepted as payment for purchases, checking account deposits are considered money as well. An even broader definition of money is often needed because other items such as savings deposits can in effect function as money if they can be quickly and easily converted into currency or checking account deposits. As you can see, there is no single, precise definition of money or the money supply, even for economists.Whether money is shells or rocks or gold or paper, it has three primary functions in any economy: as a medium of exchange, a unit of account, and a store of value. Of the three functions, its function as a medium of exchange is what distinguished money from other assets such as stocks, bonds, and houses. In most all market transactions in our economy, money in the form of currency or checks is a medium of exchange; that is, it is used to pay for goods and services. The use of money a medium of exchange promotes economic efficiency by eliminating much of the time spent in exchanging goods andservices. To see why, let’s look at a barter economy, one without money, in which goods and services are exchanged directly for other goods and services.5. In the viewpoint of economists, which of the following is wrong?A. Money is currency.B. Money means money supply.C. Checks are money in a narrow sense.D. Savings deposits can be considered as money in a narrow sense.6. Which of the following is true according to the passage?A. A check used to pay for goods and services is a medium of exchange.B. The use of money saves little time spent in exchanging goods and services.C. In a barter economy, people exchange their goods and services directly for what they want.D. Checki ng account deposits can’t be considered as money in a narrow sense.7. Which of the following is true in the eyes of most common people?A. Currency is money.B. Money means currency only.C. Dollar bills and coins are money, savings deposits as well.D. Checks are also money.8. “Barber” probably meansA. Goods in exchange for goods.B. Goods in exchange for services.C. Domestic trade.D. International trade.9. Which of the following title best suits the passage?A. Money and CurrencyB. Money and Its FunctionsC. The Value of MoneyD. Currency and Its Functions。

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6 Which one of the following would not shift a country's production possibility frontier outwards (further away from the origin)? A An increase in exports B Technical progress reducing production costs C An increase in the working population D An improvement in the literacy rate
fficient quantities of them for everyone to be able to consume them for nothing.
Consumption of scarce goods is restricted by the fact that consumers have to pay to acquire them. There are lots of things that exist in large quantities, but we still have to pay for them, for example: bread
17 You have the following information on a company $ PBIT 4,000,000 Interest expenses 400,000 Taxes 170,000 Capital expenditure 600,000 Calculate the free cash flow to the firm
16 You have the following information on a company $ PBIT 4,000,000 Interest expenses 400,000 Taxes 170,000 Preferred dividends 500,000 Number of outstanding shares 10,000,000 Calculate the EPS for this company
A $20,000 C $72,000 B $60,000 D $77,000
5 In the production possibility diagram below, what combination of X and Y cannot be produced given current levels of resources?
20 Which one of the following is NOT taken into account by the discount factor applied to future earnings when calculating shareholder value? A The rate of inflation B The amount of earnings that would be lost as taxation C The level of risk attached to future income streams D Shareholders' rate of time preference for money
9 The sector of the economy which consists of manufacturing industries is the : A Primary sector B Secondary sector C Tertiary sector D Quaternary sector
10 There are four main factors of production, each of which has an economic reward. Which one of the following statements about the factors of production is not correct? A Capital is rewarded with interest B Enterprise is rewarded with profit C Labour is rewarded with wages
21 A merger between two firms at different stages in the same production process – for example, between an oil extraction company and an oil shipping company – is an example of: A Horizontal integration B Vertical integration C Conglomerate diversification D Organic growth
18 You have the following information on a company $ PBIT 4,000,000 Interest 500,000 PBT 3,500,000 Tax 1,200,000 Profit for year 2,300,000 Assets 50,000,000 Current liabilities 10,000,000 Calculate the return on capital employed (ROCE).
2 The basic economic problem facing all economies is: A Maximising economic growth B Unemployment C Inflation D Allocating scarce resources
3 Opportunity cost is: A The cost of producing one extra unit of the commodity B The lowest average cost of the commodity C The total cost of the commodity D The loss of the next best alternative
13 Company directors are appointed by: A Auditors B The Board C Senior management D Shareholders
14 In a planned economy, the pattern of production is determined by: A Central allocation B Consumer preference C The price mechanism D The profit motive
Jo bought the warehouse when he started his business, but if he hadn't invested his capital in the business it could now be earning him $5,000 a year in interest. If Jo wasn't working for himself, he could be earning $40,000 working for a large carpentry company in a neighbouring town. Based on the information given, what are the total economic costs of Jo's business, including opportunity costs?
15 Is the sum of the cash flows to the contributors of capital to the firm including shareholders and bondholders the free cashflow to equity or the free cash flow to the firm?
4
Jo is a self-employed carpenter who works in a warehouse that he owns. He buys the wood he needs to use, and last year this cost him $20,000. If Jo didn't work in his warehouse he could earn a rent on it of $12,000 per year.
7 Which of the following would not be regarded by economists as a factor of production? A Labour B Enterprise C Management D Capital
8 Which of the following is likely to shift the production possibility curve (frontier) onwards (away from the origin): A An increase in specialisation B An increase in the labour force C An increase in productivity D All of the above
19 Which sector of the economy contributes most to the gross domestic product (GDP) of developed, capitalist economies? A Industrial B Primary C Government D Service