国际金融题库(英文版)资料

国际金融题库(英文版)

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Multiple-choice test(only one is correct):

1. Gresham’s Law states that

a)Bad money drives good money out of circulation.

b)Good money drives bad money out of circulation

c)If a country bases its currency on both gold and silver, at an official exchange rate, it

will be the more valuable of the two metals that circulate.

d)None of the above.

2. Balance of payments

a)is defined as the statistical record of a country’s international transactions over a

certain period of time presented in the form of a double-entry bookkeeping

b)provides detailed information concerning the demand and supply of a country’s

currency

c)can be used to evaluate the performance of a country in international economic

competition

d)all of the above

3. If the United States imports more than it exports, then

a)The supply of dollars is likely to exceed the demand in the foreign exchange market,

ceteris paribus.

b)One can infer that the U.S. dollar would be under pressure to depreciate against other

currencies

c)a) and b)

d)None of the above

4. The current spot exchange rate is $1.55/￡ and the three-month forward rate is $1.50/￡. You enter into a short position on ￡1,000. At maturity, the spot exchange rate is $1.60/￡. How much have you made or lost?

a)Lost $100

b)Made ￡100

c)Lost $50

d)Made $150

5. The sensitivity of “realized” domestic currency values of the firm’s contractual cash flows denominated in foreign currency to unexpected changes in the exchange rate is:

a)Transaction exposure

b)Translation exposure

c)Economic exposure

d)None of the above

6. Three d ays ago, you entered into a futures contract to sell €62,500 at $1.20 per €. Over the past three days the contract has settled at $1.20, $1.22, and $1.24. How much have you made or lost?

a)Lost $0.04 per € or $2,500

b)Made $0.04 per € or $2,500

c)Lost $0.06 per € or $3,750

d)None of the above

7. A swap bank

a)Can act as a broker, bringing together counterparties to a swap

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