金融英语考试模拟练习题大汇总

金融英语考试模拟练习题二

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D. both A and B 12. A consumer's indifference curve shows ______. A. all combinations of two products that a consumer can use B. all combinations of two products that yield the same total satisfaction to the consumer C. all combinations of two goods that the consumer can purchase with disposable persona income D. equal income for consumption 13. The value of any investment is found by computing ______. A. the future value of all future expenses B. the future value of all sales C. the present value of all future liabilities D. the present value of all cash flows 14. A "base" or "high-powered" money is distinguished from other types of money by the fact that it . A. always consists of central-bank liabilities B. always consists of assets that can serve as commercial bank cash reserves C. always consists of gold coin D. must be a "fiat" money 15. The relationship between interest rates on various bonds, and the time to (heir maturity is called the ______ structure of interest rates. A. chronological

金融英语测试题自测-打印版

第一章：1、equity（股本）2、financial system3、portfolio（投资组合）4、bond5、stock1.another way for Intel to raise funds to build a new semi-conductor factory is to sell stock in thecompany. Stock represents ownership in a firm and is, therefore a claim to the profits that the firm makes. For example, if Intel sells a total of 1000000 shares of stocks, then share represents ownership of 1/1000000 of the business2. A mutual fund is an institution that sells shares to the public and uses the proceeds to buy aselection, or portfolio, of various types of stocks, bonds, or both stocks and bonds. The shareholder of the mutual fund accepts all the risks and returns associated with the portfolio.If the value of the portfolio rises, the shareholder benefits, if the value of the portfolio falls, the shareholder suffers the loss.第二章：1、commodity money2、fiate money3、bank note4、Treasury Bill5、money supplyMost countries today have an “independent” central bank, that is, one which operates under rules designed to prevent political interference. Examples include the European Central Bank, the US Federal Reserve, the Reserve Bank of Australia, the Reserve Bank of India, the Bank of England, the Bank of Canada, etc. Some central banks are publicly owned, and others are, in theory, privately owned. In practice, there is little difference between public and private ownership, since in the latter case almost all profit of the bank are paid to the government either as a tax or a transfer to the government.Central banks implement a country’s chosen monetary policy. At the most basic level, this involves establishing what form of currency the country may have, whether a fiat currency, gold-backed currency ( disallowed for countries with membership of the IMF ), currency board or a currency union. When a country has its own national currency, this involves the issue of some form of standardized currency, which is essentially a form of promissory note: a promise to exchange the note for “money” under certain circumstances.第三章：Interest rateInflationmonetary policyFederal Reserve ActDiscount loanSerious disagreements existed over whether the central bank should be a private bank or a government institution. Because of the heated debates on these issues, a compromise was struck. In American tradition, Congress wrote an elaborate system of checks and balances into the Federal Reserve Act of 1913, which created the Federal Reserve System with its 12 regional Federal Reserve Banks.All national banks (commercial banks chartered by the Office of the Comptroller of the Currency) are required to be members of the Federal Reserve System. Commercial banks chartered by the states are not required to be members, but they can choose to join. Currently, around one third of the commercial banks in the United Stated are members of the Federal Reserve System, having declined from a peak figure of 49% in 1947.第四章：Exchange rateConsolidationpayment and settlement systemChina Banking Regulatory Commissiondeposit insurance在国务院的领导下，中国人民银行依法独立实施货币政策、履行人行职能、开展人行业务，其决策不受地方政府、各级政府部门、公共组织或者任何个人的影响Faced with the complicated and severe economic situation both at home and abroad, in line with the changing situation, the PBC, under the leadership of the CPC Central Committee and the State Council, resolutely studied and implemented the scientific development approach, earnestly fulfilled its responsibilities as the central bank, responded promptly to the intense impact of the international financial crisis, pressed ahead with developing the coordination mechanism for financial regulation, strengthened the monitoring and assessment of financial risks, speeded up the designing of the deposit insurance system, enhanced the central bank asset management, promoted healthy development of wealth management products, and effectively maintained financial stability and safety.第五章：P/E ratioStock exchangeP/B ratioListH-sharesThrough public listing, the aforementioned four banks have established market-oriented capital supply mechanism, standardized information disclosure, and strengthened restrictions on the performance of senior management. So, the capital market played an increasingly prominent role in establishing efficient operation mechanism of modern financial enterprises. In addition, the consecutive listing of BOC and ICBC on the A share market also enhanced the overall investment value on the market.In 2006, relevant authorities conducted further feasibility studies on the shareholding reform scheme of ABC, taking into the consideration of building new socialist countryside and making the master plan for rural area financial reforms. Financial administration authorities have taken measures to urge ABC to manage its credit risks.第六章：clientcreditrisk managementtrust fundgrantIBRD raises most of its funds on the world’s financial markets and has become one of the most established borrowers since issuing its first bond 1947. The income that IBRD has generated over the years has allowed it to fund development activities and to ensure its financial strength, which enables it to borrow at low cost and offer clients good borrowing terms.IDA’s long-term, no-interest loans pay for programs that build the policies, institutions, infrastructure and human capital needed for equitable and environmentally sustainable development. IDA’s goal is to reduce inequalities both across and within countries by allowing more people to participate in the mainstream economy, reducing poverty and promoting more equal access to the opportunities created by economic growth.第七章：quotaoutstanding loanexchange ratefiscal yearbalance of paymentMore generally, the IFM is responsible for ensuring the stability of the international monetary and financial system—the system of international payments and exchange rates among national currencies that enables trade to take place between counties. The Fund seeks to promote economic stability and prevent crises, to help resolve crises when they do occur, and to promote growth and alleviate poverty. It employs three main functions—surveillance, technical assistance, and lending—to meet these objectives.Surveillance is the regular dialog and policy advice that the IMF offices to each of its members. On a regular basis—usually once each year, the Fund conducts in-depth appraisals of each membercountry’s economic situation. It discusses with the country’s authorities the policies that are most conducive to stable exchange rates and a growing and prosperous economy. Members have the option to publish the Fund’s assessment, and the overwhelming majority of countries opt for transparency, making extensive information on bilateral surveillance acailable to the public.第八章time depositdemand depositcheckable depositrepurchase agreementEurodollarTo define money merely as currency is much too narrow, because checks are also accepted as payment for purchases, and 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.回购协议，金融机构或大公司从银行购买国库券，并同意在将来某个时间以约定的价格，包括利息，再卖回给银行。

金融英语练习题（附答案）

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 。

(金融保险类)金融英语模拟题集

Test2Part One ListeningSection One (10%)Directions: In this section you will hear 10 short statements. Each statement will be spoken only once. After each statement there will be a pause. During the pause, you must read the four suggested answers marked a, b, c and d, and decide which is the best answer.Now you will hear the example: She went to the bank with Mr. Smith.You will read:A. She went home. C.She went to the bank.B. She liked Mr. smith. D.She went to Mr. Smith's house. Statement C, "She went to the bank" is the closest in meaning to the statement "She went to the bank with Mr. Smith." Therefore, you should choose answerC. Now listen to the statements.1. A. Financial markets must support sound financial institutions.B. Sound financial institutions are made by financial markets.C. Financial markets should be backed by strong financial institutions.D. Financial markets are sound because of financial institutions.2. A. US dollar is going higher vs. Japanese Yen.B. US dollar is going higher vs. Pound Sterling.C. US dollar is going lower vs. Japanese Yen.D. US dollar is going lower vs. Deutsche Mark.3. A. Please remit us the bill amount through Barclay's bank on due date.B. Please claim the bill amount on Barclay's Bank on due date.C. Please pay the bill amount to Barclay's Bank.D. Please inform Barclay's Bank to reimburse us on due date.4. A. The People's Bank of China may not provide loans for organizations or individuals.B. The People's Bank of China may not give financial support to enterprises.C. The People's Bank of China may act as a financial guarantor for organizations or individuals.D. The People's Bank of China may not effect a financial guarantee for individuals or organizations..5. A. Policy is the only factor that affects stock prices.B. Policy is one factor that affects stock prices.C. Monetary policy is one of the factors that affect stock prices.D. Monetary policy is the only factor that affects stock prices..6. A. I wish to cash some cheques.B. I wish to cash some traveler's cheques.C. I wish to pay cash for my expenses here.D. I wish to pay for my traveller's cheques here7.A. The L/C will be confirmed by our bank.B. Our bank's agent will confirm the L/C.C. The credit will be opened by our bank's agent.D. Our branch in San Francisco will confirm the L/C.8.A. U.S. dollar is dearer.B. U.S. dollar is higher.C. Japanese yen is weaker.D. Japanese yen is stronger.9. A. The draft is a sight one.B. The draft is payable by Citibank.C. The bill is drawn on Citi Branch.D. The bill is not negotiable.10. A. We paid you early as required.B. Your documents came to us as required.C. Your documents have been correctly presented as required.D. You did not present the documents as required.S ection Two (10%)Directions: In this section, you will hear 10 short conversations. At the end of each conversation a question will be asked about what was said. Theconversations and questions will be spoken only once. During the pause, you must read the four suggested answers marked a, b, c, and d, and decide which is the best answerNow you will hear :M: Does our bank have a direct correspondent relationship with the Bradalys' Bank?W:No, we don't. So we have to advise this L/C via another bank.Q: Which of the following is right?Now you will read:A. We can advise this L/C to the Bradlays' Bank.B. The Bradlays' Bank is our correspondent.C. The L/C has to be advised by a third bank.D. We should advise this L/C by ourselves.From the conversation we know that we have to advise this L/C via another bank. The best answer is C. Therefore you should choose answer C.11. A. To apply for rolling over the loan for another period.B. To default on repayment.C. To repay it immediately.D. To apply for a new loan.2. A. 827.28 B. 829.19 C. 826.71 D. Not mentioned.13. A. He sold a house.B. He borrows some money from the man.C. He borrowed some money from the bank.D. He visited a new house.4. A. She pays a visit to the bank.B. She deals with a transaction with her customer.C. She wants to check Parks' cash and transactions of the day.D. She pays a visit to the Auditing Department.5.A. About remitting money. B. About getting a bill of exchange.C. About discounting a bill of exchange.D. About quotation of buying rate.16. A. she definitely accepted the request.B. She will not do what the man requested.C. She will use her car.D. She definitely refused the request.17. A. How to get a ticket to Paris. B. How to go to Paris.C. How to transfer money to Paris.D. How to fill the form.18. A. To open a current account. B. To open a savings account.C. To cash her cheques.D. To draw money from her savings account.19.A. 5% B. 3% C. 8% D. 6% 20. A. The interest rate will belowered B. The interest rate will be stable.C. The interest rate will increase.D. The interest rate will befloating.Section Three (10%)Directions: In this section, you will hear 3 short passages. At the end of each passage you will hear some questions about what was said. The passages and questions will be spoken only once. During the pause, you must read the four suggested answers marked a, b, c, and d, and decide which is the best answer Questions 21--23 are based on passage 121. A. 4:00 p.m. B. 5:30 p.m. C. 6:00 p.m. D. 6:30 p.m.22. A. He goes to concerts. B. He visits his friends.C. He meets his customers.D. He works at home.3. A. The bank's staff. B. The bank's location.C. The bank's long hours of services.D. The bank's balance sheet. Questions 24-26 are based on passage 224. A. Short term loans without guarantees by banks.B. Long term loans without guarantees by their respective governments.C. Long term loans under guarantees by their respective governments.D. Medium term loans under guarantees by their respective banks.25. A. International banks. B. industrial nations.C. Syndicates of international banks.D. Developed countries.26. A. Yes, they are. B. No, they are not.C. Yes, they are. They represent unusual risk to banks.D. No, they are not. They represent usual risk to banks.Questions 27-30 are based on Passage 327.A. 146 B. 159 C. 194 D. 16828. A. US$ 32.1 billion B. US$ 37.4billion.C. US$ 27.3 billion.D. US$ 4.8 billion.29. A. Allowing more foreign banks to do RMB business in Pudong.B. Extending the experimentation to Shenzhen.C. Increasing the limit on the RMB position of the foreign banks on acase-by-case basis.D. All of the above.30.A. To introduce new products and expertise.B. To improve efficiency in financial intermediation.C. To introduce more foreign capital into China.D. Both A and BPart two Reading Section One (10%)Directions: There are ten statements in this section. For each statement there are four choices marked A,B,C,D.You should choose the best answer.31. Which activities are not the investment banking activities?A. underwriting new issuesB. financial advisingC. dealing and brokingD. savings'taking32. ___________is the purchase of one company by another using mainly borrowed funds.A. A horizontal mergerB. A leveraged buyoutC. A vertical mergerD. A MBO33. The bill of lading is evidence of ownership. It thus functions as a ________.A. receipt for goodsB. contract for deliveryC. title documentD. negotiable instrument34. Liquidity ______________.A. is a measure of how quickly an item may be converted to foreign currenciesB. is a measure of how quickly an item may be converted to cashC. is a measure of how quickly an item may be converted to liabilitiesD. is a measure of how quickly an item may be converted to fixed capital 35.35.Among various worries concerning the internet banking, the first and foremost is the problem of __________.A. profitB. interestC. clientD. security36. According to the rules of debit and credit for balance sheet accounts ______________.A. decreases in asset, liabilities, and owner's equity accounts are recorded by debitsB. increases in liabilities and owner's equity accounts are recorded by creditsC. decreases in liabilities and asset are recorded by creditsD. increases in asset and owner's equity are recorded by debits37. _________ consist of a simultaneous sale or purchase of currency.A. Spot transactionsB. Forward transactionsC. Option forward transactionsD. Swap transaction38. Cash inflows from financing activities for a bank exclude: ________.A. receiving depositsB. issuance of equity securities (capital stock)C. issuance of debt securities ( bond, notes, mortgages)D. redemption of debt39. When a bank holds some valuables on behalf of its customer, the relationship between the bank and customer is ___________.A. debtor-----creditorB. bailor--------baileeC. principal-----agentD. trustor-------trustee40. The red clause documentary credit is often used as a method of ______.A. providing the seller with funds prior to shipmentB. providing the buyer with funds prior to shipmentC. providing the seller with funds after shipmentD. providing the buyer with funds after shipmentSection Two (10%)Directions: There are 10 blanks in the following passages. For each blanks there are four choices marked A, B, C, D. You should choose the best answer.Passage OneCommercial banks ___41______many functions, some central to their main role in the economy and others more peripheral. Although lending and deposit _____42______have been the epicenter of commercial banking, the last few years have witnessed a _______43_______in both the types and the volume of banking services. This surge has ____44____in part by government_____45_____,but most importantly by competitive pressures.41. A. do B. entailC. perform D. work42.A. allocating B. taking C. saving D. mobilizing43.A. increase B. improvement C. decrease D. surge44.A. been induced B. caused C. attributed D. been45.A. relaxation B. Control C. Regulation D. deregulationpassage TwoThere are generally several types of credits. A(n) "___46____" guarantees payment to the beneficiary, provided that the credit terms and conditions are met and the standing of the advising bank in the beneficiary's country is sound. A(n) " ____47______" may be cancelled at any time up to the moment the advising bank pays. This type of credit is ___48_____ favorable to the exporter. There is a risk that goods may be shipped and the credit revoked before documents are presented to the advising bank. A(n) "____49______" may not be cancelled or even amended without the consent of all the parties involved. This type of credit guarantees that no single party will revoke the contract already signed. A(n) "____50_____", like a commercial credit, is a promise by the issuer to honor the beneficiary's presentation of the credit.46.A. stand-by credit B. revocable credit C. irrevocable creditD. confirmed credit47.A. confirmed credit B. revocable credit C. irrevocable creditD. stand-by credit48.A. the most B. the least C. far D. much49. A. confirmed credit B. revocable credit C. irrevocable creditD. stand-by credit50.A. stand-by credit B. revocable credit C. irrevocable creditD. confirmed credits ection Three (10%)Directions: Read the following passages, and determine whether the sentences are "Right" or "wrong". If there is not enough information to answer " right" or "wrong''. choose "Doesn't say".Passage OneInternet banking has many advantages for banks. It is much cheaper to service a customer who makes contact only by phone, interactive TV, computer or other terminals, doing without the expensive branch network. Nevertheless, with Internet banking, customers do much of the basic data inputting themselves, further saving staff time of banks. Banks can invest the saved resources of human power and capital on utilizing the information of its customers when they are transacting, i. e. to route, analyze, and integrate data into meaningful patterns. Processed customer information is and will remain to be an invaluable asset of banks. And there is an element of self selection by higher earning customers - the Internet banking customers tend to be those who are relatively wealthy and generate the banks' profits. These advantages therefore suggest that the Internet is regarded as an increasingly important commercial tool by a growing number of banks.51. Internet banking services customers by phone, interactive TV, computer or other terminals.A. RightB.WrongC.Doesn't say52. Internet banking can save human power and capital.A.RightB.WrongC.Doesn't say53. Internet banking has many disadvantages for banks such as the risks and uncertainty of outcome.A.Righ tB.Wrong C .Doesn't sayPassage TwoRevocable credit is the one which can be amended or cancelled at any time, but the issuing bank is bound to pay drawing under the credit negotiated by the advising bank or the transmitting bank prior to the receipt by it of the notice of revocation or of amendment. An irrevocable credit, however, carries the irrevocable undertaking of the issuing bank to pay all drawings made in terms of the credit. Such a credit can only be amended or cancelled with the consent of all parties to it, that is the applicant, the issuing bank, the intermediary bank, if any, and the beneficiary.Where the confirmation of an intermediary bank is added to an irrevocable letter of credit, the credit is a confirmed credit, or more exactly, a confirmed irrevocable credit, and such a confirmation constitutes a definite undertaking ofthe confirming bank in addition to the undertaking of the issuing bank.54. A revocable credit can be amended in any circumstances.A. RightB. WrongC. Doesn't say55. An irrevocable confirmed credit gives the beneficiary a double assurance of payment.A. RightB. WrongC. Doesn't say56. An irrevocable credit cannot be cancelled.A. RightB. WrongC. Doesn't say57. Where the confirmation of intermediary bank is added to a revocable letter of credit, the credit is a confirmed revocable credit.A. RightB. WrongC. Doesn't sayPassage ThreeThe source of foreign exchange for overseas investment by domestic entities are subject to review by the SAFE before the application for such investment is filed with the relevant government agencies.Profits or other foreign exchange income of Chinese investors from their overseas investment must be remitted home within eight months after the close of each local accounting year and surrendered or kept in foreign exchange accounts in accordance with the regulations. Unless otherwise approved by the SAFE, Chinese investors may not divert foreign exchange receipts to any other purposes or keep them abroad. Whenever an enterprise winds up its overseas business, the investor shall repatriate all of the assets.58. SAFE is the abbreviation of the Stated Administration of Foreign Exchange.A. RightB. WrongC. Doesn't say59. When a corporation ends its overseas business, the investor shall repatriate all of the assets.A. RightB. WrongC. Doesn't say60. Chinese investors cannot divert foreign exchange receipts to any other purposes or keep them abroad.A.RightB.WrongC.Doesn't says ection Four (20%)Directions: There are 4 passages in this sections. Each passage is followed by some questions or unfinished statements. For each of them there are four choices marked A, B, C, D. You should choose the best answer.Passage OneA revolving documentary credit is one by which, under the terms and conditions thereof, the amount is renewed or reinstated without specific amendments to the documentary credit being required. The revolving documentary credit may be revocable or irrevocable, and may revolve in relation to time or value.In the case of a documentary credit that revolves in relation to time, e. g. which is initially available for up to USD15, 000. 00 per month during a fixedperiod of time, say, six months, the documentary credit is automatically available for USD15, 000. 00 each month irrespective of whether any sum was drawn during the previous month. A documentary credit of this nature can be cumulative or non-cumulative. If it is stated to be 'cumulative,'any sum not utilised during the first period carries over and may be utilised during a subsequent period. If it is 'non- cumulative,' any sum not utilised in a period ceases to be available, that is, it is not carried over to a subsequent period. It must be remembered that under this kind of documentary credit and following this example, the obligations of the issuing bank would be for USD90,000.00, i.e. six revolving periods each for USD15, 000. 00. Thus while the face value of the documentary credit is given as USD15, 000. 00 the total undertaking of the issuing bank is for the full value that might be drawn.In the case of a documentary credit that revolves in relation to value, the amount is reinstated utilisation within a given overall period of validity. The documentary credit may provide for automatic reinstatement immediately upon presentation of the specified documents, or it may provide for reinstatement only after receipt by the issuing bank of those documents or another stated condition.This kind of documentary credit involves the buyer and the banks in an incalculable liability. For that reason, it is not in common use. To maintain a degree of control, it would be necessary to specify the overall amount that may be drawn under the documentary credit. Such amount would have to be decided by the buyer and the seller to meet their requirements, and would have to be agreed to by the issuing bank.61. What's the correct definition of revolving documentary credit?A. A revolving documentary credit is one by which, under the terms and conditions thereof, the amount is reinstated without specific amendments to whichever kinds of credit the customer required.B. A revolving documentary credit is one by which, under the terms and conditions thereof, the tenor is extended without specific amendmentsto the documentary credit being required.C. A revolving documentary credit is one by which, under the terms and conditions thereof, the amount is renewed with specific amendments tothe documentary credit being required.D. A revolving documentary credit is one by which, under the terms and conditions thereof, the amount is reinstated without specific amendments to the documentary credit being required.62. "Ceases to" in Line 11 probably means __________________.A. "continue"B. "suspend to"C. "stop"D. "carry over"63. Which of the following statements is true?A. The revolving documentary credit may revolve according to the amount and time.B. A revolving documentary credit must be irrevocable.C. A revolving documentary credit must be revocable.D. The amount of a revolving documentary credit cannot be cumulated.64. When is the amount reinstated in the case of a documentary credit thatrevolves in relation to value?A. Just on presentation of specified documents.B. Only after the issuing bank receives those documents.C. Under the stated condition.D. All of above.65. The documentary credit that revolves in relation to value isn't commonlyused because ________.A. the overall amount that may be drawn under the documentary credit has been specifiedB. such credit involves the buyer and the bank in an incalculable liabilitiesC. it makes the issuing bank entail an incalculable liabilities.D. the documentary credit may provide for reinstatement immediately and automatically.Passage TwoPacking loan is a pre-shipment financing facility. The exporter can obtain packing loan from a bank when it receives the letter of credit issued in its favour. The money required is to finance the business between the commencement of the manufacturing process and the despatch of goods. This period is identical for the exporter. Usually, the finance available will not exceed 90% of the L/C amount. After shipment, the exporter can present the documents to a bank for negotiation, and repay the packing loan.For the security, the lending bank must keep in touch with the exporter, and urge them to dispatch the goods and present document in time. If the exporter fails to present documents after the expiry of the L/C, the bank will ask them to repay according to the terms of the loan agreement.66. The exporter can get packing loan from a bank when____________.A. the importer issues a L/C.B. the exporter presents the documents to the bankC. it receives the letter of credit issued in the exporter's favourD. it receives the letter of credit issued in the bank's favour67. "Commencement" in Line 3 probably means _______________.A. endingB. beginningC. implementationD. finish68. When does the exporter repay the packing loan?A. After shipment.B. Just after finishing the manufacturing process.C. Upon presentation of the documents to a bank for negotiation.D. Both A and C69. Which of the following statements is not true?A. Packing loan is a pre-shipment financing facility.B. The amount of packing loan will not exceed 90% of the L/C amount.C. Packing loan is just granted to the exporter.D. If the exporter fails to present documents after the expiry of the L/C, the bank will ask them to repay according to the terms of the L/C agreement. assage Three An option contract is a risk management or control tool designed to mitigate the effects of possible adverse movements in the price of a security or commodity. Depending upon the right acquired by the taker, options are divided into "calls" and "puts". A call option gives the taker (just the buyer of the option) the right (but not the obligation) to buy at a fixed price, while a put option confers upon him the right (but not the obligation) to sell at a fixed price. The fixed price at which the taker may buy or sell the underlying commodity or security, a procedure known as exercising the option, is called the striking price. If the striking price is identical to the current market price of the commodity or security (i.e. the prevailing price for delivery and payment on expiration date), the option is said to be at the money. When the striking price of a call option is lower than the current market price it is in the money. When it is higher than current market price it is out of the money. In contrast, the put option is in the money when the striking price is higher than the current market price or out of the money when the striking prices lower than the current market price.It will by now clear that there are two basic prices in an options contract, the price paid for the purchase of the actual option, which is the premium, and the fixed price at which the option may be exercised, which is the striking price. In turn, the price of the premium is itself made up of two component parts, the intrinsic value and extrinsic value (often known as the time value). Intrinsic value may be defined as the amount by which an option is in the money. The calculation of a proper time value for an option is far more complex. It is influenced by four different factors ----the duration of the option, the historical price volatility of the underlying commodity or security, current interest rates and the supply of and demand for the option.70. Depending on _________, options are divided into "calls" and "puts".A. the right acquired by the sellerB. the right acquired by the buyerC. the obligation acquired by the sellerD. the obligation acquired by the seller71. A put option_____________.A. gives the buyer the right to sell the underlying commodity at a fixed priceB. gives the seller the right to buy the underlying commodity at a fixed priceC. confers upon the seller the right to buy the underlying commodity at fixed price.D. confers upon the seller the right to sell the underlying commodity at fixed price.72. When the striking price of the put option is higher than the current market price, it is calledA. at the moneyB. in the moneyC. out of the moneyD. none of the money73. The premium in option_____________.A. is the striking price of the underlying commodityB. means the option is sold at par valueC. is just the margin that all option deals demandD. is the price of an option contract 74. Which of the following statement is not true?A. The premium consists of the intrinsic value and the extrinsic valueB. The extrinsic value is just the time value.C. The time value for an option is only influenced by the duration of the option and current interest rates.D. The intrinsic value is just the amount by which an option is in the money. assage FourOn the balance sheet, assets and liabilities are classified as either current or long-term to indicate their relative liquidity. Liquidity is a measure of how quickly an item may be converted to cash. Therefore cash is the most liquid asset. Account receivable is a relatively liquid asset because the business expects to collect the amount in cash in the near future. Supplies are less liquid than accounts receivable, and furniture and buildings are even less so. Users of financial statements are interested in liquidity because business difficulties often arise owing to a shortage of cash. Balance sheets list assets and liabilities in the order of their relative liquidity.Current Assets. Current assets are assets that are expected to be converted to cash, sold, or consumed during the next 12 months or within the business's normal operating cycle if longer than a year. The operating cycle is the time span during which (1) cash is used to acquire goods and services, and (2) these goods and services are sold to customers, who in turn pay for their purchases with cash. For most businesses, the operating cycle is a few months. A few types of business have operating cycles longer than a year. Cash Accounts Receivable, Notes receivable due within a year or less are current assets. Merchandising entities such as Sears, Penney's and K Mart have an additional current asset. Inventory. This account shows the cost of goods that are held for sale to customers.Long-term Assets. Long-term assets are all assets other than current assets. They are not held for sale, but rather they are used to operate the business. One category of long-term assets is plant assets, or fixed assets. Land, buildings, furniture and fixtures, and equipment are examples of plant assets.Financial statement users such as creditors are most interested in the due dates of an entity's liabilities. The sooner a liability must be paid, the more current it is. Liabilities that must be paid on the earliest future date create the greatest stain on cash. Therefore, the balance sheet lists liabilities in the order in which they are due. Knowing how many of a business's liabilities are current and how many are long-term helps creditors assess the likelihood of collecting from the entity. Balance sheets usually have at least two liability classifications,。

金融英语模拟题(一)T1P1-Listening

金融英语模拟题（一）Part One ListeningSection One (10%)Directions: In this section you will hear 10 short statements. Each statement will be spoken only once. After each statement there will be a pause. During the pause, you must read the four suggested answers marked a, b, c and d, and decide which is the best answer. Now you will hear the example:She went to the bank with Mr. Smith.You will read:A. She went home.B. She liked Mr. smith.C.She went to the bank.D.She went to Mr. Smith's house.Statement C, "She went to the bank" is the closest in meaning to the statement "She went to the bank with Mr. Smith." Therefore, you should choose answer C. Now listen to the statements.1.A. The central bank controls many factors that affect the success of banking supervision.B. The success of banking supervision depends on the controls of the central bank.C. The success of banking supervision relies on many factors that are not under the control of the central bank.D. Many factors under the control of the central bank result in the success of banking supervision.2.A. You cannot sign your name on the upper left corner that does not comply with the agreement.B. Your signature does not agree with the specimen signature on the upper left corner.C. The signature on the upper left corner is not the countersign in theagreement.D. You cannot agree with the signature on the upper left corner.3.A. The Chinese banks will not come to compete with the foreign banks inRenminbi business.B. Foreign banks will be allowed to do Renminbi business which is a challenge to the Chinese banks.C. It will be a real great challenge to the Chinese banks when the foreign banks have the right to do Renminbi business.D. In order to have real competition with the Chinese banks, foreign banks should be allowed to do Renminbi business.4.A. I remitted the money to you after the sale of my stocks.B. Your bank account had been credited with the remittance since I sold my shares last week.C. The money had already been credited to your account last week after I sold my shares.D. The money had not been remitted to you since I failed to sell my stocks last week.5.A. The bank makes profits only from its own money.B. The bank makes profits not only from the deposits but also from its own money.C. The bank makes profits with special obligations to depositors.D. The bank has special obligation to make profits.6.A. We thank you for your doing kindness to us.B. We hope you send us your check as soon as possible.C. We thank you because you provide us convenience in checking.D. You will have to pay us $50,000.7.A. The Chinese economists made a proposal that banks' savings interest rates should further be lowered.B. The Chinese economists thought banks' savings interest rates should be improved.C. The Chinese economists believed that banks' savings interest rates should be maintained.D. The Chinese economists suggested that banks' savings interest rates should be kept.8.A. We are the credit holders.B. We are the bank who can encash the card.C. We are the bank who can stop your lost card.D. We are the bank who can find your lost card.9.A. In the foreign exchange market, exchange rates are quoted by the sellers and buyers.B. In the foreign exchange market, exchange rates are quoted by commercial banks.C. In the foreign exchange market, selling and buying of foreign exchange decide exchange rates.D. In the foreign exchange market, exchange rates are fixed by governments.10.A. The bank has the right to charge you fees if your check has bounced.B. The bank will not charge you any service commission even if your check returned.C. No one reserves the right to impose a service charge for returned cheques.D. The bank has the right to impose a charge for encashed cheques.Section Two (10%)Directions: In this section, you will hear 10 short conversations. At the end of each conversation a question will be asked about what was said. The conversations and questions will be spoken only once. During the pause, you must read the four suggested answers marked a, b, c, and d, and decide which is the best answerNow you will hear :M: Does our bank have a direct correspondent relationship with the Bradalys' Bank?W:No, we don't. So we have to advise this L/C via another bank.Q: Which of the following is right?Now you will read:A. We can advise this L/C to the Bradlays' Bank.B. The Bradlays' Bank is our correspondent.C. The L/C has to be advised by a third bank.D. We should advise this L/C by ourselves.From the conversation we know that we have to advise this L/C via another bank. The best answer is C. Therefore you should choose answer C.11.A. Her account number is 60789410B. Her account number is 60798410C. Her account number is 60798401D. Her account number is 6078914012.A. in the safeB. in the drawerC. on the deskD. in the box13.A. 1.89%B. 1.98%C. 8.19%D. none14.A. to open an account with the bankB. to exchange moneyC. to check if the remittance has arrivedD. to remit some money to her brother Tony Waller15.A. employee and bossB. broker and bank clerkC. two bank clerksD. bank clerk and customer16.A. 8 hoursB. 10 hoursC. 12 hoursD. 24hours17.A. one monthB. twelve monthsC. six monthsD. half a month18.A. draw money from her account through ATM.B. write her secret code on the card.C. forget her password.D. ask somebody to pick up her card.19.A. US$ 24,580B. US$ 28,450C. US$ 45,280D. US$ 25,48020.A. Special risks will be excluded.B. You have to pay more money for the inclusion of all risks.C. Exclusion of the special risks means more money you have to pay.D. You have to pay more premium to include a special risk.Section Three (10%)Directions: In this section, you will hear 3 short passages. At the end of each passage you will hear some questions about what was said. The passages and questions wi1l be spoken only once. During the pause, you must read the four suggested answers marked a, b, c, and d, and decide which is the best answerQuestions 21--23 are based on passage 121.A. threeB. fourC. fiveD. six22.A. one-dollar billB. five-dollar billC. ten-dollar billD. twenty-dollar bill23.A. by checks and fund transfersB. by CHAPS and fund transfersC. by CHIPS and fund transfersD. by SWIFT and fund transfersQuestions 24-26 are based on passage 224.A. They will buy houses.B. They will buy cars.C. They will postpone building a new plant.D. They will hire more workers.25.A. because they affect consumers' willingness to spend or save.B. because they affect businesses' investment decisions.C. because interest rates are the cost of borrowings.D. both a and b.26.A. mortgage interest ratesB. car loan ratesC. interest rates on many different types of bondsD. current interest ratesQuestions 27-30 are based on Passage 327.A. corporateB. interbankC. mortgageD. syndicate28.A. pay all attentions to a specific area of lendingB. consider someone more important than the otherC. handle loan applications based on hard and fast ruleD. try to build up a well-balanced loan portfolio29.A. prudenceB. profitabilityC. liquidityD. safety30.A. to ensure healthy growth for the bankB. to outperform the competition in financial industryC. to make the profitsD. to achieve specific business targets。

金融英语(FECT)考试模拟练习题大汇总

1. Which of the following is not a function of money? ______.A. To act as a medium of exchangeB. To act as a unit of accountC. To act as a store of valueD. To provide a double coincidence of wantsE. To act as a means of payment2. The price in the foreign exchange market is called ______.A. the trade surplusB. the exchange rateC. the money priceD. the currency rate3. Market risk refers to the risk of______.A. financial prices fluctuationsB. defaultD. deferred payments4. Which of the following is not among the generally accepted accounting principles? ______.A. Cash basisB. PrudenceC. ConsistencyD. Going concernE. Money measurement.5. What is a documentary letter of credit? ______.A. A conditional bank undertaking to pay an exporter on production of stipulated documentationB. A method of lending against documentary securityC. An international trade settlement system biased in favour of importersD. All of the above6. Holding a group of assets reduces risk as long as the assets ______.A. are perfectly correlatedB. are completely independentC. do not have precisely the same pattern of returnsD. have a correlation coefficient greater than one7. An amount, payable in money goods, or service, owed by a business to a creditor, is known as a/an .A. liabilityB. debtC. equityD. asset8. What function is money serving when you buy a ticket to a movie? ______.A. store of valueB. a medium of exchangeC. transaction demandD. a unit of account9. If foreigners expect that the future price of sterling will be lower, the ______.A. supply of sterling will increase, demand for sterling will fall, and theexchange rate will fallB. supply of sterling will increase, demand for sterling will rise, and theexchange rate may or may not increaseC. supply of sterling will fall, demand for sterling will increase, and the exchange rate will riseD. supply of sterling will fall, demand for sterling will fall, and the exchange rate may or may not fall10. The documentary collection provides the seller with a greater degree of protection than shipping on ______.A. open accountB. bank's letter of guaranteeC. banker's draftD. documentary credit11. Which of the following statements is not true of central banks? ______.A. They pay the government's salariesB. They always undertake the regulation of the banking systemC. They are always the lender of last resortD. None of the above12. When GBP/USD rate goes from 1.6150 to 1.8500, we say the dollar ______.A. appreciates by 12.70%B. depreciates by 14.55%C. depreciates by 12.70%D. appreciates by 14.55%13. According to diversification principle in investment, suppose you invest Stock X and Stock Y with equal funds, which of the following is not true? ______.A. If X and Y are totally independent with each other, the risk of the portfolio is reducedB. If X and Y are perfectly negatively correlated, the risk of the portfolio is perfectly offsetC. If X and Y are perfectly positively correlated, the risk of the portfolio is neither reduced nor increasedD. If X and Y are perfectly negatively correlated, the risk of the portfolio is neither reduced nor increased14. These are four main methods of securing payment in international trade:(1) payment under documentary credit(2) open account(3) collection, that is document against payment or acceptance of a bill of exchange(4) payment in advanceFrom an exporter's point of view, the order of preference is ______.A. (4) , (2) , (3) , (1)B. (4) , (1) , (3) , (2)C. (4) , (3) , (1) , (2)D. (2) , (4) , (1) , (3)15. The main liability on a bank balance sheet is ______.A. depositsB. capital and reservesC. loans and overdraftsD. cash16. ______ shows that net income for a specified period of time and how it was calculated.A. The income statementB. The capital statementC. The accounting statementD. The statement of financial condition17. Why must the liabilities and assets of a bank be actively managed? ______.A. Because assets and liabilities are not evenly matched on the same time scaleB. Because assets and liabilities are evenly matchedC. Because the interbank market uses LIBORD. Because assets and liabilities can be underwritten18. If the expected returns of two risky assets have a perfect negative correlation, then risk .A. is increasedB. falls to zeroC. is unaffectedD. is reduced by one-half19. A possible disadvantage of freely fluctuating exchange rates with no official intervention is that .A. some nations would experience continual deficitsB. the exchange rates may experience wide and frequent fluctuationsC. nations would no longer be able to undertake domestic policies designed to achieve and maintain full employmentD. nations would need a larger supply of international reserves than otherwise20. What are your GBP/USD position and the average rate if you sell ￡4m at 1.6350 buy ￡5m at 1.6340 and sell $5m at 1.6348?A. Short ￡2 058 478.10 long $3 370 000 at 1.6371B. Long ￡5 941 521.90 short $9710 000 at 1.6342C. Short ￡5 941 521.90 long $9 710 000 at 1.6342D. Long ￡4 058 478.10 short $6 630 000 at 1.633621. A correlation coefficient of +1.0 means two stocks are ______.A. perfectly negatively correlatedB. opposite the market betaC. equal to the market betaD. perfectly positively correlated22. The percentage analysis of increases and decreases in corresponding items in comparative financial statements is called ______.A. external analysisB. horizontal analysisC. vertical analysisD. comparative analysis23. What is the name of the document which can make a buyer feel confident that goods are of a certain standard? ______.A. Inspection certificateB. Commercial invoiceC. Insurance policyD. Certificate of origin24. Sometimes financial intermediaries by "borrowing short and lending long" find themselves in difficult financial situations because .A. short-term rates are fallingB. long-term rates are risingC. deposits increase too rapidlyD. short-term rates rise relative to rates of their holdingsE. long-term rates rise more sharply than short-term rates25. Incoterms were written ______.A. by the International Chamber of CommerceB. under the United Nations Convention for the International Sale of Goods (Vienna Convention )C. under the Kyoto Protocols as adopted in 2000D. under "fast track" authority granted by the U.S. Congress26. The purpose of keeping account is to .A. determine whether the business has made a profit or a lossB. find out why the business has lost moneyC. see how much has been spentD. find out why the business cannot fulfil its commitments27. If reserves are 20 percent, then the multiplier effect will be ______ times, so the original deposit of RMB40 000 can create up to ______ of new deposits.A. 5……RMB200000B. 4……RMB120000C. 3……RMB80000D. 6……RMB2000028. ABC Company is the beneficiary of a confirmed irrevocable letter of credit. ______ bank ( s ) will assure the company that it will be paid.A. OneB. NoneC. ThreeD. Two29. Legal tender includes .A. notes and coinsB. notes onlyC. coins onlyD. notes, coins and checks30. The following are the basic functions of a bill of lading except to act as ______.A. a receipt for the goods from the shipping company to the exporterB. a document of title for goods being shipped overseasC. a certificate of origin, which certifies that the goods were produced in a particular countryD. evidence of the carriage contract between the exporter and the carrier31. Persistent foreign trade deficits under a flexible exchange rate system usually lead to ______.A. inflation in the domestic economyB. speculation of future devaluationC. falling interest ratesD. rising imports32. The additional amount paid in buying or selling a currency at a given future date is called .A. premiumB. commissionC.tariffD. dividend33. Banks manage their assets considering ______.A. riskB. some optimum combination of the aboveC. earningsD. liquidity34. What is the function of the book-keeping system in bank accounting? ______.A. To prove that all the day's transactions have gone through for the right amountB. To prove that all the day's transactions have all been posted to the right accountC. To prove that the fresh balance of those accounts is correct after recording the transactionsD. All of the above35. The risk that is specific to individual stocks is called ______.A. systematic riskB. country riskC. unsystematic riskD. market risk36. The main objective of the Exchange Equalization Account is to ______.A. prevent undue fluctuation in the exchange value of one country's own currency against other currenciesB. control the rate of inflationC. ensure that notes and coins continue to be acceptable as a medium of exchangeD. permit the exchange of payments between banks37. How can you prove that no transactions are missing or wrong at the end of the day? ______.A. There is no other way than have these transactions reposted to the proper entriesB. We can examine all the transactions carefully and find the wrong recordsC. We can balance the total debits and the total credits by calculating them againD. We can do that by checking the total debits and the total credits to see whether they are in state of balance38. Money _____.A. serves as the critical function of a medium of exchangeB. facilitates trade in goods and servicesC. overcomes the inefficiencies of barterD. all of the above39. If dealers buy currency forward but do not sell forward at the same time, their position is known as .A. shortB. forerunnerC. speculationD. long40. Incoterms apply ______.A. only if clearly incorporated into the contract of saleB. to International shipments beyond a certain tonnageC. to international shipments under the Uniform Commercial CodeD. to all international shipments of goods41. Under which one of the following circumstances would it be wise for your customer to arrange a forward foreign exchange contract? ______.A. Import of goods priced in a foreign currencyB. Import of goods priced in RMBC. Export of goods priced in RMBD. Export of goods priced in a foreign currency where the rate of exchange has been agreed in the sales contract42. Incoterms address ______.A. the risks of loss between the partiesB. breaches of contractC. ownership rightsD. type of ship used43. Which of the following is or was an example of representative full-bodied money? ______.A. Debt moneyB. ATS accountC. Gold certificateD. Demand deposit44. Risks associated with investing in foreign countries are the following except ______.A. voting riskB. exchange rate riskC. country riskD. political risk45. An exporter sells goods to a customer abroad on FOB and on CIF term. Who is responsible for the freight charges in each? ______.A. Exporter; ExporterB. Exporter; ImporterC. Importer; ImporterD. Importer; Exporter46. Default risk refers to the possibility that a borrower may ______.A. be unable to repay the principal on his loanB. be unable to make the interest payments on his loanC. go bankruptD. all of the above47. What is the reserve requirement? ______.A. The requirement of a bank to deposit a percentage of moneyB. The requirement for deposits in cashC. The percentage of a bank's deposits in the form of cash reservesD. The requirement for cash reserves48. A draft is like a check that can be endorsed but it isn't a title to goods, like ______.A. a bill of ladingB. an inspection certificateC. a certificate of originD. an insurance certificate49. Arbitrage ______.A. is a general economic term for buying something where it is cheap and selling it where it is dearB. keeps exchange rates consistent across marketsC. has been outlawed by the International Monetary FundD. cannot occur where there is a forward exchange marketE. both A and B50. What is the purpose of comparing the ledger entries with the documents? ______.A. To prove that all the transactions have made for the right amountsB. To prove that all the accounts have been posted correctlyC. To check the number of all the debits and creditsD. To post the right accounts51. What is Dollar Cost Averaging? ______.A. A brokerage account that gives investors cheap tradesB. The idea that prices tend to rise over the long termC. Buying stocks that are below average in valueD. A flat quarterly mutual fund fee averaged throughout the yearE. A strategy of investing money on a regular basis to take advantage of market fluctuations52. 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 ______.A. a vostro account…… a nostro accountB. a vostro account…a mirror accountC. a mirror account…a nostro accountD. a nostro account…… a vostro account53. Under FOB terms the bill of lading would state goods ______.A. loaded on board, freight payable at destinationB. loaded on board, freight paidC. received for shipment, freight paidD. received for shipment, freight payable at destination54. The liabilities of the bank as shown in its balance sheet represent the ______ which it uses in its business.A. sources of the fundsB. share capitalC. investmentsD. advances to customers55. International payments and other messages are often sent through an international computer network called ______.A. CHAPSB. BACSC. SWIFTD. EIMT56. Low levels of uncertainty (risk) are associated with .A. stocksB. stock optionsC. higher potential returnsD. lower potential returns57. Government securities would appear on a commercial bank's balance sheet as ______.A. an assetB. reservesC. part of net worthD. a liability58. A major problem with a fixed exchange rate system is that when countries run foreign trade deficits, ______.A. there is no self-correcting mechanismB. currency values become unstableC. the value of the reserve currency declinesD. world inflation increases59. In a particular economy banks are required to keep 25 percent of all deposits in the form of reserves; this gives a credit-creation multiplier of ______.A. fourB. threeC. twoD. five60. Regulation of the money supply and financial markets is referred to as ______.A. fiscal policyB. income policyC. monetary policyD. budgetary policy61. When a country runs a foreign trade deficit under a flexible foreign exchange rate system, its .A. imports automatically increaseB. currency automatically depreciatesC. exports automatically declineD. currency automatically appreciates62. Which of the following statements is not true of accounting?______.A. Accounting is language of businessB. The user of accounting includes business, government, nonprofit organizations and individuals.C. Accounting is useful for decision makingD. Accounting is an end rather than a means to an end63. The term foreign exchange is best defined by the following statement: it is ______.A. the rate of exchange between two currenciesB. synonymous with currency exchangeC. the place in which foreign currencies are exchangedD. an instrument such as paper currency, note, and check used to make payments between countries64. What is Asset Allocation? ______.A. Buying assets of different types, risks, and potential returnsB. Buying assets with more than one brokerage accountC. The ability to buy mutual fundsD. Buying stocks for the long term65. External users of financial accounting information include all of the following except .A. suppliersB. line managersC. general publicD. creditors66. CAPM is short for .A. Capital Asset Pricing ModelB. Cash Added Price MatrixC. Capital Asset Pricing MatrixD. Cost and Price Model67. Liquidity measures the ______.A. value of an assetB. ease with which an asset can be exchangedC. usefulness of an assetD. economic and monetary reliability of an asset compared with other assets68. In a letter of credit transaction, the bank pays the seller against ______ which agree(s) with______.A. documents…… the creditB. merchandise…… the contractC. documents…… the contractD. merchandise……the buyer ordered69. A barter economy is one that does not possess _______.A. any wealthB. printed currencyC. a medium of exchangeD. gold70. Which of the following is not true of airway bill? ______.A. When goods are delivered to the airline, the airway bill is signed by them or their agents as a receipt of the goodsB. Airway bill is a document of title to the goodsC. Airway bill may also provide evidence of despatch of the goods where it has been stamped indicating details of the relevant flightD. None of the above71. The value of money varies _____.A. directly with the unemployment rateB. directly with the price levelC. inversely with the unemploymentD. inversely with the price level72. The economics news on the television reports that the dollar has strengthened relative to the Japanese yen. This means that ______.A. the dollar has depreciated relative to the yenB. the dollar can now purchase more yenC. the yen can now purchase more dollarsD. the US trade balance with the Japanese economy has improved73. The theory of international exchange that holds that exchange rates are set so that the price of similar goods in different countries is the same is the ______.A. price feedback theoryB. trade feedback theoryC. purchasing power parity theoryD. J-curve theory74. According to the optimal portfolio theory, where should portfolios lie? ______.A. On the efficient frontierB. Above the efficient frontierC. Under the efficient frontierD. Anywhere, as long as the portfolio is diversified75. Which of the following is not a user of management accounting information? ______.A. Store managerB. CreditorC. CEOD. CFO76. Based on the scenarios below, what is the expected return for a portfolio with the following return profile? ______.Market ConditionA. 4%B. 10%C. 20%D. 25%Use the following expectations on Stocks X and Y to answer questions77. Financial markets serve to channel funds from ______.A. the government to contractorsB. investors to consumersC. consumers to producersD. savers to investors78. The agreements that were reached at the Bretton Woods conference in 1944 established a system .A. of essentially fixed exchange rates under which each country agreed to intervene in the foreign exchange market when necessary to maintain the agreed-upon value of its currencyB. of floating exchange rates determined by the supply and demand of one nation's currency relative to the currency of other nationsC. that prohibited governments from intervening in the foreign exchange marketsD. in which the values of currencies were fixed in terms of a specific number of ounces of gold, which in turn determined their values in international trading79. Which of the following statements is not consistent with generally accepted accounting principles relating to asset valuation? .A. Assets are originally recorded in accounting records at their cost to the business entityB. Accountants prefer to base the valuation of assets upon objective, verifiable evidence rather than upon appraisals or personal opinionC. Accountants assume that assets such as office supplies, land and buildings will be used in business operations rather than sold at current market pricesD. Subtracting total liabilities from total assets indicates what the owner's equity in the business is worth under current market conditions80. A fiscal expansion in the UK ______ the pound sterling.A. tends to appreciateB. tends to depreciateC. does not affect the price ofD. has no predictable effect on the price of81. What are the expected returns for Stocks X and Y respectively? ______.A. 20% and 10%B. 18% and 12%C. 20% and 11%D. 18% and 5%82. Which of the following payment terms eliminates the exchange risk, assuming the exporter invoices in foreign currency? ______.A. Confirmed irrevocable documentary creditB. Open accountC. Documentary collection D/AD. None of the above83. ABC Co. Ltd. purchased a car for $ 12 000, making a down payment of $5 000 cash and signing a $7 000 note payable due in 60 days. Which of the following is not correct? ______.A. From the viewpoint of a short-term creditor, this transaction makes the business less solventB. Total liabilities increased by $7 000C. Total assets increased by $12 000D. This transaction had no immediate effect on the owner's equity in the business84. Which of the following terms of payment will entirely eliminate country risk? ______.A. Revocable documentary creditsB. Confirmed Irrevocable documentary creditsC. Documentary collection D/PD. Documentary collection D/A85. The expiry date of a documentary credit is Sunday, 24 February, and documents have to be A presented to you. Which of the following is an acceptable presentation? (Assume there is no latest stated date for shipment stipulated.) ______.A. Presentation to you on Monday 25 February with the bill of lading dated 25 FebruaryB. Presentation on Monday 25 February with the bill of lading dated Sunday 24 FebruaryC. Presentation on Tuesday 26 February with the bill of lading dated Sunday 24 FebruaryD. Presentation on Friday 22 February with the bill of lading dated Sunday 29 January86. What are the standard deviations of returns on Stocks X and Y respectively? ______.A. 15% and 26%B. 24% and 13%C. 20% and 4%D. 28% and 8%87. Who makes the first presentation of documents under a transferable credit? ______.A. ApplicantB. First beneficiaryC. Second beneficiaryD. None of the above88. A transaction caused a $10 000 decrease in both total assets and total liabilities. This transaction could have been ______.A. repayment of a $ 10 000 bank loanB. an asset with a cost of $10000 was destroyed by fireC. purchase of a delivery truck for $10 000 cashD. collection of a $10 000 account receivable89. Money ceases to serve as an effective store of value when ______.A. the government runs large deficitsB. the unemployment rate is very highC. productivity in the economy declinesD. rapid inflation occurs90. An indication that the money supply is greater than the desirable amount would be .A. insufficient spending and excessive savingB. deflationC. inadequate spending and rising unemploymentD. rising wages and prices81. What are the expected returns for Stocks X and Y respectively? ______.A. 20% and 10%B. 18% and 12%C. 20% and 11%D. 18% and 5%82. Which of the following payment terms eliminates the exchange risk, assuming the exporter invoices in foreign currency? ______.A. Confirmed irrevocable documentary creditB. Open accountC. Documentary collection D/AD. None of the above83. ABC Co. Ltd. purchased a car for $ 12 000, making a down payment of $5 000 cash and signing a $7 000 note payable due in 60 days. Which of the following is not correct? ______.A. From the viewpoint of a short-term creditor, this transaction makes the business less solventB. Total liabilities increased by $7 000C. Total assets increased by $12 000D. This transaction had no immediate effect on the owner's equity in the business84. Which of the following terms of payment will entirely eliminate country risk? ______.A. Revocable documentary creditsB. Confirmed Irrevocable documentary creditsC. Documentary collection D/PD. Documentary collection D/A85. The expiry date of a documentary credit is Sunday, 24 February, and documents have to be A presented to you. Which of the following is an acceptable presentation? (Assume there is no latest stated date for shipment stipulated.) ______.A. Presentation to you on Monday 25 February with the bill of lading dated 25 FebruaryB. Presentation on Monday 25 February with the bill of lading dated Sunday 24 FebruaryC. Presentation on Tuesday 26 February with the bill of lading dated Sunday 24 FebruaryD. Presentation on Friday 22 February with the bill of lading dated Sunday 29 January86. What are the standard deviations of returns on Stocks X and Y respectively? ______.A. 15% and 26%B. 24% and 13%C. 20% and 4%D. 28% and 8%87. Who makes the first presentation of documents under a transferable credit? ______.A. ApplicantB. First beneficiaryC. Second beneficiaryD. None of the above88. A transaction caused a $10 000 decrease in both total assets and total liabilities. This transaction could have been ______.A. repayment of a $ 10 000 bank loanB. an asset with a cost of $10000 was destroyed by fireC. purchase of a delivery truck for $10 000 cashD. collection of a $10 000 account receivable89. Money ceases to serve as an effective store of value when ______.A. the government runs large deficitsB. the unemployment rate is very highC. productivity in the economy declinesD. rapid inflation occurs90. An indication that the money supply is greater than the desirable amount would be .A. insufficient spending and excessive savingB. deflationC. inadequate spending and rising unemploymentD. rising wages and prices91. If a nation's interest rates are relatively low compared to those of other countries, then the exchange value of its currency will tend to ______ under a system of exchange rates.A. appreciate…… floatingB. depreciate……floatingC. appreciate…… fixedD. depreciate…… fixed92. Which of the following is true of a company's balance sheet? ______.A. It displays sources and uses of cash for the periodB. It is unnecessary if both an income statement and a statement of cash flows are availableC. It is a separate representation of the company's revenue and expense transactions for the yearD. It is an expansion of the basic accounting equation ofAssets=Liabilities+Owner's Equity93. When Americans or foreigners expect the return on dollar deposits to be high relative to the return on foreign deposits, there is a ______ demand for dollar deposits and a correspondingly ______ demand for foreign deposits.A. higher…… higherB. lower…… higherC. higher…… lowerD. lower……lower94. Velocity is the ______.A. inverse of GNPB. speed at which checking accounts are converted into cashC. relationship between the price level and the money supplyD. rate at which money turns over95. Assume that of your $10 000 portfolio, you invest $9 000 in Stock X and $1 000 in Stock Y. What is the expected return on your portfolio? ______.A. 18%B. 20%C. 19%D. 3%96. Which of the following would you expect to find in a correctly prepared income statement? .A. Cash balance at the end of the periodB. Expenses incurred during the period to earn revenuesC. Contributions by the owner during the periodD. The reported company's financial position at a specific date。

(完整word版)英文版国际金融试题和答案

PartⅠ.Decide whether each of the following statements is true or false (10%)每题1分, 答错不扣分1.I.perfec.market.existed.resource.woul.b.mor.mobil.an.coul.therefor.b.transferre.t.thos.countrie.mor.willin.t.pa..hig.pric.fo.them.. .. .2.Th.forwar.contrac.ca.hedg.futur.receivable.o.payable.i.foreig.currencie.t.insulat.th.fir.agains.exchang.rat.risk ... . )3.Th.primar.objectiv.o.th.multinationa.corporatio.i.stil.th.sam.primar.objectiv.o.an.firm.i.e..t.maximiz.sharehol de.wealth.. .. )4..lo.inflatio.rat.tend.t.increas.import.an.decreas.exports.thereb.decreasin.th.curren.accoun.deficit.othe.thing.e qual......5..capita.accoun.defici.reflect..ne.sal.o.th.hom.currenc.i.exchang.fo.othe.currencies.Thi.place.upwar.pressur.o.tha.hom.currency’.value.. .. )parativ.advantag.implie.tha.countrie.shoul.specializ.i.production.thereb.relyin.o.othe.countrie .fo.som.products.. .. .7.Covere.interes.arbitrag.i.plausibl.whe.th.forwar.premiu.reflec.th.interes.rat.differentia.betwee.tw.countrie.sp ecifie.b.th.interes.rat.parit.formula. .. . )8.Th.tota.impac.o.transactio.exposur.i.o.th.overal.valu.o.th.firm.. .. .9. .pu.optio.i.a.optio.t.sell-b.th.buye.o.th.option-.state.numbe.o.unit.o.th.underlyin.instrumen.a..specifie.pric.pe.uni.durin..specifie.period... . )10.Future.mus.b.marked-to-market.Option.ar.not.....)PartⅡ:Cloze (20%)每题2分, 答错不扣分1.I.inflatio.i..foreig.countr.differ.fro.inflatio.i.th.hom.country.th.exchang.rat.wil.adjus.t.maintai.equal.. purchasin.powe... ）2.Speculator.wh.expec..currenc.t..appreciat..... .coul.purchas.currenc.future.contract.fo.tha.currency.3.Covere.interes.arbitrag.involve.th.short-ter.investmen.i..foreig.currenc.tha.i.covere.b.....forwar.contrac...... .t. sel.tha.currenc.whe.th.investmen.matures.4.. Appreciation.Revalu....）petitio.i.increased.5.....PP... .suggest..relationshi.betwee.th.inflatio.differentia.o.tw.countrie.an.th.percentag.chang.i.th.spo.exchang.ra t.ove.time.6.IF.i.base.o.nomina.interes.rat....differential....).whic.ar.influence.b.expecte.inflation.7.Transactio.exposur.i..subse.o.economi.exposure.Economi.exposur.include.an.for.b.whic.th.firm’... valu... .wil.b.affected.modit.a..state.pric.i..... pu..optio..i.exercised9.Ther.ar.thre.type.o.long-ter.internationa.bonds.The.ar.Globa.bond. .. eurobond.....an....foreig.bond...).10.An.goo.secondar.marke.fo.financ.instrument.mus.hav.a.efficien.clearin.system.Mos.Eurobond.ar.cleare.thr oug.eithe...Euroclea... ..o.Cedel.PartⅢ:Questions and Calculations (60%)过程正确结果计算错误扣2分rmation:A BankB BankBid price of Canadian dollar $0.802 $0.796Ask price of Canadian dollar $0.808 $0.800rmation.i.locationa.arbitrag.possible?put.t h.profi.fro.thi.arbitrag.i.yo.ha.$1,000,e.(5%)ANSWER:Yes! One could purchase New Zealand dollars at Y Bank for $.80 and sell them to X Bank for $.802. With $1 million available, 1.25 million New Zealand dollars could be purchased at Y Bank. These New Zealand dollars could then be sold to X Bank for $1,002,500, thereby generating a profit of $2,500.2.Assum.tha.th.spo.exchang.rat.o.th.Britis.poun.i.$1.90..Ho.wil.thi.spo.rat.adjus.i.tw.year.i.th.Unite.Kingdo.experience.a.inflatio.rat.o..percen.pe.yea.whil.th.Unite.State.experience.a.inflatio.rat.o..perc en. pe.year?(10%)ANSWER:According to PPP, forward rate/spot=indexdom/indexforth.exchang.rat.o.th.poun.wil.depreciat.b.4..percent.Therefore.th.spo.rat.woul.adjus.t.$1.9..[..(–.047)..$1.81073.Assum.tha.th.spo.exchang.rat.o.th.Singapor.dolla.i.$0.70..Th.one-yea.interes.rat.i.1.percen.i.th.Unite.State.a n..percen.i.Singapore..Wha.wil.th.spo.rat.b.i.on.yea.accordin.t.th.IFE?.(5%)ANSWER: according to the IFE,St+1/St=(1+Rh)/(1+Rf)$.70 × (1 + .04) = $0.7284.Assum.tha.XY.Co.ha.ne.receivable.o.100,00.Singapor.dollar.i.9.days..Th.spo.rat.o.th.S.i.$0.50.an.th.Singap or.interes.rat.i.2.ove.9.days..Sugges.ho.th.U.S.fir.coul.implemen..mone.marke.hedge..B.precis. .(10%)ANSWER: The firm could borrow the amount of Singapore dollars so that the 100,000 Singapore dollars to be received could be used to pay off the loan. This amounts to (100,000/1.02) = about S$98,039, which could be converted to about $49,020 and invested. The borrowing of Singapore dollars has offset the transaction exposure due to the future receivables in Singapore dollars.pan.ordere..Jagua.sedan.I..month..i.wil.pa.£30,00.fo.th.car.I.worrie.tha.poun.ster1in.migh.ris.sharpl.fro.th.curren.rate($1.90)pan.bough...mont.poun.cal.(suppose.contrac.siz..£35,000.wit..strik.pric.o.$1.9.fo..premiu.o.2..cents/£.(1)Is hedging in the options market better if the £ rose to $1.92 in 6 months?(2)what did the exchange rate have to be for the company to break even?（15%）Solution:(1)I.th..ros.t.$pan.woul. exercis.th.poun.cal.option.Th.su.o.th.strik.pric.an.premiu..i.$1.90 + $0.023 = $1.9230/£Thi.i.bigge.tha.$1.92.So hedging in the options market is not better.(2.whe.w.sa.th. compan.ca.brea.even.w.mea.tha.hedgin.o.no.hedgin.doesn’. matter.An.onl.whe.(strik.pric..premiu.).th.exchang.rat.,hedging or not doesn’t matter.So, the exchange rate =$1.923/£.6.Discus.th.advantage.an.disadvantage.o.fixe.exchang.rat.system.(15%)textbook page50 答案以教材第50 页为准PART Ⅳ: Diagram(10%)Th.strik.pric.fo..cal.i.$1.67/£.Th.premiu.quote.a.th.Exchang.i.$0.022.pe.Britis.pound.Diagram the profit and loss potential, and the break-even price for this call optionSolution:Following diagram shows the profit and loss potential, and the break-even price of this put option:PART Ⅴa) b) Calculate the expected value of the hedge.c) How could you replicate this hedge in the money market?Yo.ar.expectin.revenue.o.Y100,00.i.on.mont.tha.yo.wil.nee.t.cover.t.dollars.Yo.coul.hedg.thi.i.forwar.market.b.takin.lon.position.i.U.dollar.(shor.position.i.Japanes.Yen).B.lockin.i.you.pric.a.$..Y105.you.dolla.revenue.ar.guarantee.t.b.Y100,000/ 105 = $952You could replicate this hedge by using the following:a) Borrow in Japanb) Convert the Yen to dollarsc) Invest the dollars in the USd) Pay back the loan when you receive the Y100,000。

金融英语考试模拟试题

金融英语考试模拟试题SECTION TWO(Compulsory): Reading Comprehension (10 points)Monica Lewis, CFA, has been hired to review data on a series of forward contracts for a major client. The client has asked for an analysis of a contract with each of the following characteristics:A forward contract on a U.S. Treasury bondA forward rate agreement (FRA)A forward contract on a currencyInformation related to a forward contract on a U.S. Treasury bond: The Treasury bond carries a 6 percent coupon and has a current spot price of $1,071.77 (including arued interest). A coupon has just been paid and the next couponis expected in 183 days. The annual risk-free rate is 5 percent. The forward contract will mature in 195 days.Information related to a forward rate agreement: The relevant contract is a 3 x 9 FRA. The current annualized90-day money market rate is 3.5 percent and the 270-dayrate is 4.5 percent. Based on the best available forecast, the 180-day rate at the expiration of the contract is expected to be 4.2 percent.Information related to a forward contract on a currency: The risk-free rate in the U.S. is 5 percent and 4 percentin Switzerland. The current spot exchange rate is $0.8611per Swiss France (SFr). The forward contract will mature in 200 days.1) Based on the information given, what initial price should Lewis remend for a forward contract on the Treasury bond? ( )A. $1,035.12.B. $1,073.54.C. $1,053.66.D. $1,070.02.2) Suppose that the price of the forward contract for the Treasury bond was negotiated off-market and the initial value of the contract was positive as a result. Which party makes a payment and when is the payment made? ()A. The long pays the short at the maturity of the contract.B. The short pays the long at the initiation of the contract.C. The short pays the long at the maturity of the contract.D. The long pays the short at the initiation of the contract.3) Suppose that instead of a forward contract on the Treasury bond, a similar futures contract was being considered. Which one of the following alternatives correctly gives the preference that an investor would havebetween a forward and a futures contract on the Treasury bond? ()A. The futures contract will be preferred to the forward contract.B. An investor would be indifferent between the two types of contracts.C. It is impossible to say for certain because it depends on the correlation between the underlying asset and interest rates.D. The forward contract will be preferred to the futures contract.4) Based on the information given, what initial price should Lewis remend for the 3 x 9 FRA? ()A. 4.96%.B. 4.66%.C. 5.96%.D. 5.66%.5) Based on the information given and assuming a notional principal of $10 million, what value should Lewis place on the 3 x 9 FRA at time of settlement? ()A. $38,000 paid from short to long.B. $19,000 paid from long to short.C. $37,218 paid from long to short.D. $19,000 paid from short to long.SECTION THREE(Compulsory)：Explanations of terms(25 points)1. Security market line2. Negotiable certificates of deposit3. Risk premium4. Financial leasing5. Asset Price VolatilitySECTION FOUR：Answer Questiones(32 points)1.What is the segmented markets theory?2. What Are the Recent Trends in Reserves？3. Factors Affecting Choice of Investment Securities.4.What is Behavioral Finance Theory?SECTION FIVE：Caculation(13 points)In xx, Chinese consumption ( C) is 100 billionyuan ,and its investment(I) is 80 billion yuan, and its government expenditures ( G) is 50billion yuan, and its exports (X - M) is 60billion.Please calculate the the value of total domestic output (Y) aording to the absorption approach.SECTION SIX：CLOSE(10 points)Do you think what the effects of moary and fiscal policies on a nation’s external balance are? And then fill in the blank.(a) moary policy(a) fiscal policy。

金融英语模拟习题一

金融英语证书考试（FECT）Exercises-1（1）来源：考试大 2010/11/26 【考试大：中国教育考试第一门户】模拟考场视频课程字号:T T金融英语证书考试（FECT）Exercises-1（1）。

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1.Which of the following is not a function of money？______。

A.To act as a medium of exchangeB.To act as a unit of accountC.To act as a store of valueD.To provide a double coincidence of wantsE.To act as a means of payment2.The price in the foreign exchange market is called ______。

A.the trade surplusB.the exchange rateC.the money priceD.the currency rate3.Market risk refers to the risk of______。

A.financial prices fluctuationsB.defaultC.fraudD.deferred payments4.Which of the following is not among the generally accepted accounting principles？______。

A.Cash basisB.PrudenceC.ConsistencyD.Going concernE.Money measurement。

5.What is a documentary letter of credit？______。

金融英语模拟题一至五答案

TEST 4: C , A , D , D , C , C , A , B , B , C ,
A , B , D , A , B , B , A , A , C , C ,
A , B , B , A , A , B , B , A , C , B ,
C , A , B , D , C , C , D , A , B , A ,
A , C , D , B , C , A , D , A , B , C ,
C , A , C , B , B , C , A , B , A , A ,
A , D , D , A , A , C , B , D , A , C ,
D , A , C , C , C , B , A , D , A , C
C , C , A , B , D , D , C , C , A , B
TEST 5: B , A , A , D , A , C , B , C , C , A ,
D , A , B , D , C , C , A , C , D , C ,
B , A , A , C , A , B , C , C , A , C ,
Section Three
May 17, 2002
ABC Bank
Dear sirs,
Re: the new interest rate
We are pleased to notify you that effective Aug. 1,2002 until further notice interest is to be calculated on the credit balance at 5.5% and charge at 6% p.a. on overdrafts in your Renminbi account with us. We would add that generally your account is not allowed to be overdrawn and it is hoped that you will see to it that your account always keeps a credit balance and is replenished in time when overdrawn.