《金融专业英语》习题答案
(原)金融专业英语(FECT)中级银行业务模拟试卷3(题后含答案及解析)
（原）金融专业英语（FECT）中级银行业务模拟试卷3(题后含答案及解析)题型有：1. SECTION ONE 2. SECTION TWO 3. SECTION THREE 4. SECTION ROUR 5. SECTION FIVESECTION ONE (Compulsory) Now listen to a short conversation and a passage on the tape. This will be played once on the recorder. You may make notes while you are listening, but you should not answer any questions until the reading is over.Qustion 1听力原文：Personal loanA: Good afternoon, Sir, at your service.B: Oh, thank you. My name is Robert and I’d like to make some enquiries concerning mortgage loan facilities offered by your bank. Am I in the right place?A: Yes, definitely Sir, please take a seat and let me get hold of a mortgage loan application form. Might I know some details about the property you intend to buy?B: I decided to purchase an apartment in Sapphire Court on Stanford Road, south of our town. I have already made my down payment last week and now I am trying to get a mortgage loan to finance the purchase.A: Oh, I see. Is Sapphire Court a new development and what is your purchase price?B: No, it’s a second hand property and as far as I know, it has been 5 years since the building was built. The owner is demanding for ＄1 million.A: You mentioned that you have paid a down payment. If you don’t mind, please tell me how much you have already paid mid the amount of loan you want from the bank?B: I have paid ＄40,000 to the landlord through the real estate agent and I will just need ＄700,000 from the bank. What interest rates shall I pay if I’m approved to get the loan?A: According to practice, we offer our customer mortgage loans on the basis of prime rate plus 1.5 %. At the moment, prime rate is 8 % so your mortgage loan, if allowed, will approximate to 9.5 %. But we might be able to offer you better terms depending on your profession. Let me first try to fill out this application form for you. Can I have your ID card please?B: But I might not want a loan from your bank if the terms are not suitable to me. Should I not fill in any form at this stage?A: Sir, the form is just to record the appropriate details and in any case, we will have to conduct an evaluation of the property before we can approve a loan. In addition, we also need your signature when we come to the very end of the form. There is absolutely no commitment at this stage and you can rest assured that the bank will not force you to take up our loan facilities if you don’t want to.B: I understand. Here is my ID card. You can take a photocopy if you need.A: Thank you Sir. Now I want the actual address and the size of the property. Do you want the repayment to spread across a 10-year schedule?B: Yes, let’s work on a 10-year repayment schedule, It’s Apartment 8A, Sapphire Court, Stanford Road South, so it’s on the 8th floor. The size is about750 square feet as the landlord said. There are 2 bed rooms, a sitting mom, a bath mom and a kitchen. The main window faces the south.A: That sounds rather attractive. We will conduct an evaluation to find out the size and other related facilities. That will give us an idea on how much we can lend. Normally we only lend to a maximum of 70% for second hand properties but if you are looking for ＄700,000, which is only about 66% of your purchase price, I believe there is high chance for the loan to be approved as the property is quite new.B: Just now you mentioned possible better terms. What exactly are they?A: Well, would you mind telling me your profession, your source of income and whether you intend to live in the apartment you purchase?B: I’m an engineer in Arrow & Moral Electronics Inc. and my annual income is 260,000 dollars. I also receive additional income for the articles I write for the magazines, amounting to ＄3,000 a month. I do plan to live in Sapphire Court myself.A: Good. Have you brought with you your salary or income tax statement?B: I’m sorry. I didn’t know you need them. But I can send them to you tomorrow.A: Yes, please. We were talking about better terms just now. For certain profession, we offer special rates and if the property is to be used by the applicant, there will also be special consideration.B: Is there any penalty if I make early repayment?A: Only for the first year. There is no penalty if you make early repayment from the 2nd year onward.B: I see. So all I need to do now is to sign the application form and wait for the bank’s advice on how much I can borrow.A: That’s correct. Now if you don’t mind you may perhaps sign here and I will contact you within the next few days. This is my business card. Meanwhile, if you have other questions, please feel free to call me.B: Thank you. Goodbye.A: Goodbye. Personal loan Banks offer personal loans to their customers either in the form of installment loans or overdrafts. Installment loans are loans granted by the bank to the customer over a fixed period of time. Depending on the needs and nature of the loans, they can be extended for a period of a few days to several years. The repayment schedule is usually fixed in amount and time. The bank usually does net have the right to demand early repayment unless the customer fails to meet the agreed repayment schedule. The most popular repayment schedule would be monthly or semi-monthly and the repayment amount would be spread in equal installments over the whole term of the loan, or as otherwise agreed by both parties. Depending on the needs of the personal customer, the purpose of the loan varies: to finance a vacation or to make tax payment. Installment loans can be secured or unsecured. A bank may, up to a certain limit, advance a loan to a customer without security. An unsecured loan usually carries a risk, thus the borrower is required to pay a higher rate of interest on the amount borrowed. However, a customer with good credit standing can negotiate a loan at a lower interest rate even though no security is given. Usually, unsecured loans are for a shorter period of time and for smaller value, loans of this type are usually offered to those who have stable incomes and are in higher income brackets. Most borrowers are in the professional classes, e.g. engineers, lecturers/ teachers, accountants, etc. A secured loan is based on security provided by the customer which is attached to the loan agreement. The security could be provided in the form of specified assets or personal guarantees.A secured loan usually carries a lower interest payment. If the borrower defaults onthe conditions of the loan, the bank could dispose of the assets given as security, keep what the customer owed or return the remainder to the customer. The most popular secured loans are those for financing the purchase of durable items. These loans usually have a period of at least a few years. An example of a longer loan with high security value is the home mortgage loan, which usually has a term for more than ten years. In a mortgage loan agreement, the asset itself is purchased by the loan and provides the security for the banker. The most popular mortgage loan is the real estate mortgage. Other mortgage loans are, for example, granted to purchase a car. This is called a chattel mortgage. When a customer is in the process of selling an asset, such as, a house and buying another one, this person needs a bridging loan, which is a loan agreement under which finance is required in connection with the sale of one asset and the purchase of another. The finance is required because the customer may be lacking money for buying a new asset before the money comes in for the asset being sold. Because the purchase occurs before the sale, the customer needs to “bridge” the gap.1．What’s the name of the man who is seeking the mortgage loan?正确答案：Robert.2．When did he pay the down payment?正确答案：Last week.3．What is the purchase price of the apartment?正确答案：＄1 million.4．Through whom did he pay to the landlord?正确答案：Through the real estate agent.5．What interest rate does he pay if he gets the loan?正确答案：9.5%.6．How many years repayment schedule do they work on?正确答案：10-year repayment schedule.7．Is there any penalty if he makes early repayment, and how early?正确答案：Yes. Only for the first year.8．Can Robert get unsecured loans if he applies for a short period of time andfor smaller value?正确答案：Yes.9．People in what kinds of professions are mentioned in the passage that are offered unsecured loans?正确答案：Engineers, lecturers, teachers, accountants.10．If a loan is granted to purchase a car, what do we call this kind of loan?正确答案：A chattel mortgage.SECTION TWO (Compulsory) Answer all questions below. Read the following statements and decide whether they are True (T) or False (F). If it is a false statement, try to re-write a correct version.Question 211．The Land Fund is now managed by the HKMA under the direction of the Financial Secretary as a combined portfolio with the Exchange Fund.A．正确B．错误正确答案：B解析：Correction: The Land Fund is now managed by the HKMA under the direction of the Financial Secretary as a separate portfolio from the Exchange Fund.12．After July 997, mainland Chinese banks applying to operate in Hongkong are still placed under the category of foreign banks.A．正确B．错误正确答案：A13．Money is a commodity itself.A．正确B．错误正确答案：A14．Credit instruments are issues by which investors supply permanent financing to firms or other borrowers including governments.A．正确正确答案：B解析：Correction: Equity instruments are issues by which investors supply permanent financing to firms or other borrowers including governments.15．Debit instructions arise when the party to whom payment is to be made demands the funds from the bank holding the debtor’s money.A．正确B．错误正确答案：B解析：Correction: Credit instructions arise when the party to whom payment is to be made demands the funds from the bank holding the debtor’s money.16．Compared with call deposits, time deposits generally have a shorter deposit time restriction, which ranges from 24 hours to one week.A．正确B．错误正确答案：B解析：Correction: Compared with time deposits, call deposits generally have a shorter deposit time restriction which ranges from 24 hours to one week.17．Under conditional lease, the company or the bank holds the title, takes the investment credits and depreciation expenses, and sells or releases the facilities when the lease expires.A．正确B．错误正确答案：B解析：Correction: Under true lease, the company or the bank holds the title, takes the investment credits and depreciation expenses, and sells or releases the facilities when the lease expires.18．A breaker’s cheque is a negotiable instrument.A．正确B．错误正确答案：B解析：Correction: A banker’s cheque may or may not be a negotiable instrument.19．Depending on the need of clients, SWIFT is the most convenient and the safest method.B．错误正确答案：A20．There is no circumstance where the “non-disclosure” rule can be broken without the consent of the customer.A．正确B．错误正确答案：B解析：Correction: There are circumstances where the “non-disclosure” rule can be broken without the consent of the customer.21．Index deposit combines the benefit of a time deposit and an investment.A．正确B．错误正确答案：A22．A negotiable instrument is a conditional Order or promise to pay a certain amount of money.A．正确B．错误正确答案：B解析：Correction: A negotiable instrument is an unconditional order or promise to pay a certain amount of money.SECTION THREE (Compulsory) Write short notes on all questions below. Note form answers me acceptable.Question 323．What are the agents required in the process of money creation through the open-market operations?正确答案： a. central bank b. banks or depository institutions c. brokers/citizens24．List any 4 most general types of bank loans and advances that banks provide to all economic sectors.正确答案： a. working capital loans b. start-up loans c. syndicatedloans d. project financing e. foreign trade financing25．What global electronic banking services can business customers obtain from banks?正确答案： a. cash management services b. trade services c. Electronic Data Interchange (EDI) Services26．List any 3 reasons for having funds moved from one country to another.正确答案： a. the settlement of debts as a result of international trade b. The transfer of funds paid out by foreign firms in file forms of dividends, profits and capital gain incomes. c. remittances to friends and relatives d. government’s aid to foreign countries e. capital flight27．Name any 3 conditions that a company, a person or group of persons need to meet in order to get a bank license in HK.正确答案： a. Minimum paid-up share capital of not less than a legally specified amount (HK ＄150 million for Licensed Banks, HK ＄100 million for Restricted Licence Banks and HK ＄25 million for Deposit-taking Companies).b. For overseas applicant, the incorporation must be in countries where the supervisory authorities have the capabilities to meet the minimum supervision standards as recommended by the Basle Committee.c. For local applicant, it has been an authorized institution for at least 10 years.d. There is also an asset requirement for Licensed Banks( US ＄16 billion for overseas and HK ＄4 billion for local applicants as at end 1997), which is revised annually.e. For local applicant, there is an additional minimum requirement for public deposit of HK＄3 million as at end 1997.28．What does the Federal Reserve Payment Services include?正确答案： a. the processing and collection of checks through Federal Reserve Banks. b. the wire transfer of funds and securities against payment. c. automated clearing house services in which Federal Reserve Banks process electronically originated credit and debit transfer. d. the large-dollar payments system called Fedwire.SECTION ROUR Answer one question only.Question 429．What is merchant banking? Why does it grow rapidly in Hong Kong?正确答案：Merchant banking: —providing financial advice and a wide range of special services for companies in the area of finance and management. —main functions in merchant banking: -act as both brokers and dealers in wide variety of securities; -provide research services and give consultancy services on all varieties of management problems; -money market instruments are traded; -underwrite the debt issue of government and manage the sale of corporate debt and stock; -serve as agents to handle the payment of dividends to shareholders; -handle mergers, acquisitions, interest rate Swaps, leveraged buyouts, and other fee-earning activities; -arrange or participate in syndicated lending/project financing; -provide advisory/underwriting services in IPO/placement. The reasons for the rapid growth of merchant banking in Hong Kong: —Institutionalization -Growing importance of institutional investors in the market place has provided a chance for the expansion of merchant banks. -Since 1990s, the main players of the stock market has shifted from individuals to the institutions. —Deregulation -Competition across borders becomes available as the relaxation of regulations in the US and some European states and the development of Euro-market. -Because of the capital limitation, individuals must seek for help from the merchant banks which have considerable scale in global operations. —Securitization and disintermediation -The change of the source of corporate financing from bank loans to merchant banks’ services has increased the development of merchant banking business. Many corporations like to seek financial arrangement through merchant banks. —Advanced technology -Since the communication ability has been intensified by the advanced technology, the information exchange among merchant bankers and other financial institutions becomes more vigorous. —Industrial organization restructuring -The environment for file growth of merchant banking has been created with the rapid restructuring of industrial organization, such as the breaking-down of conglomerates, introduction of leverage-buy-out, favorable acceptance of “junk”bond. —Globalization -From 1990s onwards, a global market has been laid down by the creation of the Euro-market and the increasing use of commercial papers and other financial instruments and the impetus for the growth of merchant banking business has been provided by this favorable conditions.Question 530．Describe money markets and capital markets.正确答案：Money markets: Concept: —Money markets are exchange systems where short-term, usually less than one year, highly liquid and readily marketable credit instruments are traded. Instruments traded in Hongkong money markets: —Negotiable certificates of deposits: -a financial instrument issued by a bank or a deposit-taking company as evidence of indebtedness; -repayable either on demand or at a determined future time; -carries either a fixed or floating interest rate. —Inter-bank lending and borrowing: -in Hongkong, it is anintangible market participated by licensed banks and deposit-taking companies; -borrowing is on unsecured and short-term basis, ranging from overnight call up to 6 to 12 months; -HIBOR is used to determine the offer price. —Floating rate notes: -a negotiable instrument bearing a floating interest rate and issued by a company; -the quality of the note will be reflected by the reception of the notes in file market; -a highly-rated company will offer notes with a better rate. —Commercial papers/ bills: -a form of negotiable instrument issued by companies; -a promissory note, unsecured and with a maturity date; -comparatively high yield. —The Exchange Fund Bills: -similar to the treasury bills issued in other countries; -investors earn no interest but receive a return based on the discount from their face value at maturity; -important investors are: licensed banks, deposit-taking companies, insurance companies, other financial companies and institutions; -advantages: highly liquid; strong credit standing; a large and expanding market. —The Government Bond Instruments traded in the international money markets: —Treasury bills. —Eurodollars. —Eurodollar certificates of deposits. Through local brokers and dealers who bring buyers and sellers together for a commission, one can easily get access to international money market instruments in Hongkong.Capital markets:Concept: —it is a market where long-term financial instruments with maturities of upwards of one year are traded.General characteristics of the instruments: —greater risk; —less liquidity; —higher degree of default rate. Types of instruments: —Credit instruments -they are issues by which a lender advances funds to a borrower in return for the borrower’s IOU. —Equity instruments -they are issues by which investors supply permanent financing to firms or other borrowers including governments.SECTION FIVE Answer one question only.Question 631．Analyzing the “security”—the factor that banks employ to consider the loan granting.正确答案：(1) Concept of the security Security can be viewed as a “comfort”which provides the lending banker with the assurance that if things go wrong with the loan, there is another source of recovery available to minimize credit losses.(2)The classification of the security A. Direct security and collateral Direct security: refers to the borrower’s assets obtained by the bank by way of a mortgage, charge or lien. Collateral: refers to any security deposited by a third party to secure the indebtedness of the borrower. B. Tangible and intangible Tangible: include land, buildings, fixed deposits, shares and stocks. Intangible: guarantees and indemnities. (3)The types of security and their features Land and other property Most popular type of security. It can be classified as “legal” or “equitable”mortgage. Life policy It is an adequate form of security,especially against loans made to a sole proprietorship. Stocks and shares It is common type of security. To avoid the risk involved, loans should not be made against “unquoted”shares. Guarantees It is a written undertaking to be responsible for the debt of another party. There are three parties involved: creditor, debtor and guarantor. Debentures It is a written acknowledgement of indebtedness by a company, usually given under its seal and setting out the terms of interest and repayment. Deposits It is a safe and highly liquid form of security. Its value is readily available and realization is relatively easy. (4)The factors influencing the judgment of the security Value: the price at the time it is necessary to sell the asset so as to recover the loan. Type: Acceptability: acceptable to the bank as security, and be readily available to be transferred to the bank. Realizability: the last step that the bank takes to recover the loan.(5)The criteria for good or suitable security Easy to value. Easy to transfer tide. Easy to realize. Stable and increasing in value. (6)The advantage of using security It provides banks with some form of insurance to safeguard the bank against any loss if the loan turns out to be irrecoverable. (7)The limitation of using security Security is a protection rather than a source of repayment. It should be the last item to be considered in loan approval.Question 732．(a)Write short notes on the following: (i)BACS (ii)CHAPS (iii)CHIPS (iv)FedWire (b)What are the significance and limitations of the balance sheet?正确答案：(a)(i)BACS: Formerly known as Bankers’Automated Clearing Services. BACS handles direct debits and credits as well as standing orders in the UK. The clearing process is normally completed on the third day of the operation cycle. (ii)CHAPS It refers to the Clearing House Automated Payments System. It is available nationwide in Britain. It is operated by a number of settlement banks who communicate directly through computers. Payments sent through the system are guaranteed and unconditional, and cleared on a same-day basis. (iii)CHIPS It refers to Clearing House Inter-bank Payments System. It is a computerized network in the United States for transfer of international payments. It links up a number of international banks and other financial institutions which have offices or subsidiaries in New York City. Members are classified as “settling” and “non-settling”member banks. Each non-settling member bank maintains an account with a settling member which effects settlement on its behalf. (iv)FedWire It is a fund-transfer system operated in the USA by the Federal Reserve System (file Fed, the Central Bank of the US). This fund-transfer network handles transfers from one financial institution to another with an account balance held with the Fed. The transfer of reserve account balances is used for the buying and selling of Fed funds, and credit transfers on behalf of bank customers.(b)A balance sheet is basically a financial statement that gives an accounting pictureof assets owned by a business operation and of claims outstanding on a specific date. The balance sheet acts as a snapshot of the company’s position at a point in time. The balance sheet provides us with some idea of a company’s real worth and the trends of performance. It is static and historical in that it shows the assets and liabilities at a past point in time. Some of the assets are estimations only and as valued on the date stated.Question 833．Wang wants to transfer his money from China to the US. Could you explain the different money transfer methods provided by banks to him?正确答案：There are three methods of money transfer provided by banks: Draft: —A draft is an order in writing, made out to a person other than the maker, instructing him to pay a certain sum of money to a named person called the payee. It is also called a “bank draft” or “banker’s cheque”. —A draft can be sent by mail or handed over directly to the payee by the customer. —the process of a draft handling: -A request from a customer to a banker to issue a draft to a recipient overseas; -The draft drawn by the drawer bank on the drawee bank for the transaction of the draft; -The drawer advises the drawee of the issue of the draft and informs the drawee bank to pay the payee when the draft is presented for payment. —The features: -A draft sent by the customer is the least expensive, but is the slowest form of transmission. -The customer bears the risks of theft, destruction or loss in the mail system when the draft is sent by the customer himself. Mail transfer: Mail transfer is an instruction given by one hank to another, based on the request of the customer. —The way to transfer : -a written draft; -internal communication system. —The banks involved: -the remitting bank: the hank which instructs another bank to make payment to the nominated recipient; -the advising bank: the bank which receives the instruction from the remitting bank. —The process of mail transfer: -The request from a customer to the remitting hank to transfer the money; -The remitting bank will send a statement to the advising bank and tell it the exact amount being transferred, the name of the payee and his address; -The advising bank will inform the nominated recipient and check the recipient’s identity and then release the funds. —The features of the mail transfer: -It is a little safer. -The speed is low. -It could also be delayed, destroyed or even stolen. -Such delay involves additional interest payment. Telegraphic transfer: —It is an authenticated order given by the remitting hank to the advising bank to which it is addressed to make available specified funds to a named recipient. —The way to transfer: cable or telex. —The process of the telegraphic transfer: -The request from a customer to the remitting bank; -The remitting bank will send a statement to the advising bank through cable or telex which contains a “test-key”; -The advising bank receives the transmission and uses the test-key to verify the genuineness of the telex or cable instruction. And then advises the recipient to collect the funds. —The features ofthe telegraphic transfer: -It is the most expensive way of money transfer; -Fast in speed; -One of the reliable forms of money transfer.。
金融英语练习答案 (1)
《金融英语》练习题答案以下答案仅供参考，不应作为唯一的标准答案。
Unit 1 Finance and Your Career1. Answer the following questions based on the text(1)According to Besley and Brigham, the three main areas of finance are financialmarkets, investments, and managerial finance (or business finance).(2)Career opportunities in financial markets include working for financial institutions,such as banks, insurance companies, savings and loan associations, credit unions, mutual funds, investment banks, etc. Career opportunities in investments involve working for stock brokerage firms, financial institutions, investment companies, or insurance companies. Managerial finance offers the greatest number of jobs and mainly deals with decisions that firms make concerning their cash flows.(3)Graduates in finance in China can find jobs in both financial and non-financialareas. Majority of them can and are willing to find jobs in various financialinstitutions including banks, insurance companies, securities firms, etc. They can also work in accounting or auditing firms or in the department of finance invarious enterprises. Job opportunities in international trade, administrativemanagement, human resource management, and even marketing are also available.Some even start their own small businesses.(4)Because finance plays an important role in management. For example, strategicplanning cannot achieve its goals without considering how such plans will affect the overall financial well-being of the firm.(5)It is for the students to answer.2. Translate the following passages into English(1)The analysis on the employment of financial graduates in 2007 showed thatfinancial graduates had chosen the following institutions for their first jobs: a)commercial banks, including the four large-sized state-owned commercial banks, joint-stock commercial banks, city commercial banks, and the representatives or branches of foreign banks in China; b) securities companies, fund management companies, and securities and futures exchanges; c) trust and investmentcompanies, financial investment holding companies, investment consultingcompanies, and large financial companies; d) financial holding groups, the four assets management companies, financial leasing companies, and guaranteecompanies; e) insurance companies and insurance brokerage companies; f)financial regulatory authorities, such as the People’s Bank of China, ChinaBanking Regulatory and Supervisory Commission, China Securities Regulatory and Supervisory Commission, and China Insurance Regulatory and Supervisory Commission; g) policy banks, such as the State Development Bank and theAgricultural Bank of China; h) the social securities fund management centers or bureaus; i) State civil servants in governmental organizations, such as thedepartments of public finance, auditing, and customs; j) faculty of the financial departments of higher educational institutions and researchers in researchinstitutions; k) the securities and financial departments, representatives ofsecurities affairs, and secretaries to chairmen of the boards of listed companies or companies that will be listed soon.(2)At present, the qualification examinations of the financial practitioners in Chinainclude: Securities Practitioners Certificate, Certified International Investment Certificate (CIIA), Chartered Financial Analysis (CFA), Sponsor Qualification Certificate, Futures Practitioners Certificate, Insurance Brokerage and Assessment Practitioners Certificate, Financial Planning Analyst, and the Financial English Certificate Test (FECT).3. Translate the following passages into Chinese(1)当你报名参加注册金融分析师考试时，你就成为一名应试者。
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。
金融专业英语函电写作（答案）
金融专业英语函电写作（答案）第一章第一节I.1. Interna tional Busines s Dept.The Export-ImportBank of ChinaNo. 77, Beiheya n Street, Dongche ng Distric tBeijing 100009ChinaPhone: (8610) 64099988 Telex: 210202EXIM CNFax: (8610) 64005186 SWIFT：EIBCCNB JWebsite: http://www.eximban 2. Policyand Regulat ion Departm entBeijing Municip al Develop ment and Restruc turing Commiss ionNo. 2D, Fuxingm en Neidaji e,Beijing 100031China3. ExportDepartm entJiangxi HuacaiImport& ExportCorpora tion6/F Foreign Trade Buildin g66 ZhanboRoad, Nangcha ng 330000Jiangxi, China4. CreditManagem ent Departm entBank of China410 Fucheng men Neidaji eBeijing 100818P. R. China5. ImportDeparme ntChaoyan g Chemica ls Company23 RenminRoad, HaidianBeijing 100083, P. R. China6.中国建设银行海口市沿江三路分理处7.中国河南南阳市七一路129号，中国银行南阳分行8.邮编100020，中国北京市朝阳区雅宝路8号，中国银行北京分行II.1.Thank you for your letterof Decembe r 9,2010.2.We have receive d with thanksyour letterdated Decembe r 25,2010.3.Pleasei nformus of…4.We shall appreci ate it very much if you would let us know…5.This is in reply to your letterdated…regardi ng…6.In response to your letter ref…of…,we wish to informyou that…7.We refer to the above demanddraft and informyou that…8.In complia n ce with the request in your letterof…,we are pleased to…9.We regret to informyou that…10.As request ed in your letterdated…,we…11.就…日贵行来函之事，现答复如下。
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:。
《金融英语》习题答案unit1-10
“高职高专商务英语专业规划教材”Unit 1 Financial Market Research练习参考答案I.Read through the text and answer the following questions.1.A financial market is a mechanism that allows people to easily buy andsell (trade) financial securities (such as stocks and bonds), commodities (such as precious metals or agricultural goods), and other fungible items of value at low transaction costs and at prices that reflect the efficient-market hypothesis.2.The raising of capital ;the transfer of risk and international trade3.Capital markets,commodity markets,money markets, derivative markets,insurance markets and foreign exchange markets .4.Financial markets fit in the relationship between lenders andborrowers.5.Individuals, companies, governments, municipalities and publiccorporations.II. Paraphrase the following expressions or abbreviations and translate them into ChineseCheck the answers from the Special Term Lists.III. Fill in the blanks with the proper wordsThe global financial crisis, brewing for a while, really started to show its effects in the middle of 2007 and into 2008. Around the world stock markets have fallen, large financial institutions have collapsed or been bought out, and governments in even the wealthiest nations have had to come up with rescue packages to bail out their financial systems.On the one hand many people are concerned that those responsible for the financial problems are the ones being bailed out, while on the other hand, a global financial meltdown will affect the livelihoods of almost everyone in an increasingly inter-connected world. The problem could have been avoided, if ideologues supporting the current economics models weren’t so vocal, influential and inconsiderate of others’ viewpoints and concerns.IV.Translation.1.金融市场包括很多方面，包括资本市场，华尔街，甚至是市场本身。
金融英语课后答案汇总
Part One1. What are the main roles of banks?答：Although banks share many common features with other profit-seeking business,they play a unique role in the economy through mobilizing savings,allocating capital funds to fiance productive investment,transmitting monetary policy,providinga payment system and transforming risks.3. According to the revised edition of the Law of the People's Republic of China on the People's Bank of China ,what functions does the PBC perform?答：The PBC 's key functions are to conduct monetary policy, prevent and dissolve financial risks, and maintain financial stability under the leadership of the State Council.4. Can you give some examples of indirect instruments for implementing monetary policy?答：Indirect instruments as required reserve ratio, interest rate adjustment and open market operations.9. What is your definition of share and bond?答：Shares are certificates or book entries representing ownership in a corporation or similar entity.Bonds are written evidences of debts.13. What is your definition of “securities”?答：Securities are paper certificates (definitive securities) or electronic records (book-entry securities) evidencing ownership of equity (stock) or debt obligations (bonds).Part Two2. What are the objectives of banking supervision?First, the key objective of supervision is to maintain stability and public confidence in financial system.The second goal of bank supervisions to ensure that bank operate in a safe and sound manner and that they hold capital and reserve sufficient to cover the risks that may arise in their business.Third, a related goal is to protect depositors’ funds and , if any bank should fail, to minimize the losses to be absorbed by the deposit insurance fund.The fourth goal of bank supervision is to foster an efficient and competition banking system that is responsive to the public need for high quality financial services at reasonable cost.The fifth and final goal of bank supervision is to ensure compliance with banking laws and regulations.3. What risks might the commercial banks have to face?(1)credit risk (2)market risk (3)liquidity risk (4)operational risk (5)legal risk (6)reputation risk4. What are the implication of credit risk, market risk, liquidity risk and operational risk?Credit risk: A major type of risk that banks face is credit risk or the failure of a counterpart to perform according to a contractual arrangement.Market risk: Two specific elements of market risk are foreign exchange risk and interest risk. Banks face a risk of losses in on- and off-balance sheet positions arising from movement in exchange rates. Interest rate risk prefers to the exposure of a bank’s financial condition to adverse movements in interest rates.Liquidity risk: Liquidity risk arises from the inability of a bank to accommodate decreases in liabilities or to fund increases in assets.Operational risk: The most important types of operational risk involve breakdowns in internal controls and corporate governance..5.At what levels does the Basel Accord set the minimum capital ratio requirements for internationally active banks?The Accord sets minimum capital ratio requirements for internationally active banks of 4% tier one capita and 8% total capital (tier one plus tier two) in relation to risk-weighted assets.Part Three1. What does foreign exchange include ?答：Foreign exchange includes the following means of payments and assets denominated in a foreign currency that can be used for international settlement:●Foreign currencies, including banknotes and coins;●Payment vouchers denominated in foreign currency, including negotiableinstruments, bank certificates of deposit and certificates of postal savings;●Securities denominated in foreign currency, including government bonds,corporate bonds and stocks;●Super-national currencies such as Special Drawing Rights and the Euro; and●Other assets denominated in foreign currency.3. What are the requirements for domestic institutions for opening foreign exchange accounts abroad?答：Domestic entities which meet one of the following requirements may apply for opening a foreign exchange account abroad:●Expecting small amount income during a certain period of time abroad;●Expecting small amount ex penditure during a certain period of time abroad;●Undertaking overseas construction projects;and issuing securities denominated in foreign currency abroad.6. Give the definition of foreign exchange?答：Foreign exchange , or forex , is foreign money. All foreign currency, consisting of founds held with banks abroad, or bills or cheques, again in foreign currency and payable abroad , are termed foreign exchange.9. Give the definition of spot and forward transaction?答：Spot transactions involve today’s p rices of currency and delivery of the currency within two business days, except for Canadian dollar (CAD), which must be delivered in one day.10. Tell the difference between forward and futures transactions?答：(1) Forward transactions involve today’s pr ices of currency and delivery on a stipulated future date.(2) Futures transactions are always traded on exchanges. In order to be marketable on exchanges, futures contracts are standardized in terms of quantity, settlement datesand quotation.Part Four14. How could a bank earn interest income?答：The principal source of income for the majority of banks is still the interest received on the funds that the institution has at its disposal and is able to lend out in some form.Whenever a bank lends out money it will generally charge interest to the customer.21. Why should a bank keep sufficient liquid assets?答：It is important for a bank to hold sufficient liquid assets to meet the demands of depositors who may seek to withdraw their funds. However,maintenance of too high a level of liquid assets could be expensive. Cash balances in particular yield no income,yet will cost the same as any other asset to fund.25. What are the three major activities included in a bank's Statement of Cash Flows?答：The statement of cash flows reports cash flows relating to operating,investing and financing activities of a bank.Part five4. What are negotiable instruments? list some examples.答：From a functional perspective, negotiable instruments are documents used in commerce to secure the payment of money. Paying large sums of money in cash is both inconvenient and, unfortunately, risky. In all cases, negotiable instruments represent a right to payment. A right is, by definition, a promise and not a tangible piece of property. So, negotiable instruments are classified as choses in action. The three main types of them are the following: Bills of Exchange, Cheques, Promissory Notes.7. What’s the difference between capital lease and operating lease?答：1: Whether the ownership of property is to be transferred by the end of lease term.2: Whether the lease has an operation to purchase the leased property at a bargain price.3: The lease term is long to or short in according to the estimated economic life of the leased property.4: Whether the lease is a cancelable lease.5: Whether the lease is full-payout lease.9. What’s the meaning of Account Receivable Financing?答：Accounts Receivable represents a promise from customers to pay for a goods sold or services rendered. Account Receivable Financing is a form of collateralized lending in which accounts receivables are the collateral.12. What are basic characteristics of money mark securities?答：Money-mark securities, which are discussed in details later in this chapter, have three basic characteristics in common:They are usually sold in large denominations.They have low default risk.They mature in one year or less from their original issue date. Most money marker instruments mature in less than 120 days.Why teasury bills are attractive to investors?答：Teasury bills are attractive to investors because they are backed by the government and therefore are virtually free of default risk .Even if the government ran out of money, it could simply print more to pay them off when they mature.The risk of unexpected changes in inflation is also low because of their short-termmaturity. 15. What are the features of inter-bank markets?答：Inter-bank markets are money markets in which short-term funds transferred (lent or borrowed) between financial institutions, usually for one day, that is , they are usually overnight investment . The interest rate for borrowing these funds is close to ,but always slightly higher than ,the rate that is available from the central bank. 17．How have NCDs become the second most popular money market instruments?答：Negotiable CDs are in large denominations .Although NCDs denominations are too large for individual investors , they are sometimes purchased by money market funds that have pooled individua l investor’s funds. Thus , the existence of money market funds allows individuals to be indirect investors in NCDs ,marking a more active NCD market.19.What products does the on-line banking provide?答：basic products and services, intermediate products and services ,advanced products and services.Part Six1,What categories can the loan be divided according to their risk?答：The five-category system classifies bank loans according to their inherent risks as pass(normal),special-mention,substandard,doubtful and loss.What are the commonly used methods of credit analysis?答：Tranditionally,key risk factors have been classified according to the five CS of credit:character,capital,capacity,conditions,and collateral. Golden and Walker identify the five CS of bad credit,representing things to guard against to help prevent problems.These include complacency,carelessness,communication breakdown,contingencies,and competition.A useful framework for sorting out the facts and opinions in credit analysis is the 5Ps approach:people,purpose,payment,protection,and perspective.How can a bank take security for an advance?答：A bank has different kinds of security as cover for advance to his customers.There are several ways in which a bank may take security for an advance by lien,pledge,mortgage and hypothecation.。
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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%。
这一经济增长源于巨额贸易盈余和大量投资。
中国现在正在寻求改变这一增长模式。
中国正致力于平衡出口和国内需求。
二．Translate the following sentences into English1.中国商业银行监管的程序是市场准入监管、市场运营监管和市场退出监管。
Regulatory procedures of China’s commercial banks are market access regulation, market operation regulation and market exit regulation.2.国务院关于推进资本市场改革开放和稳定发展的若干意见。
Some opinions of the State Council on promoting the reform, opening and steady growth of the capital market3.只有建立合理的股权结构，才能保证公司取得好的经营业绩。
Only establishing reasonable ownership structure can guarantee perfect corporate performance.4.该公司股票暴跌，被伦敦交易所摘牌。
The company’s stock nosedived and it was delisted from the London exchange.Chapter Two Money Markets一．Translate the following sentences into Chinese.1.Either way, they have to keep paying their bills. If they default on their debt, thatonly makes it harder and costlier to borrow in the future.但无论选择哪种方式，他们必须继续偿付债务。
如果他们出现债务违约，只会使将来举债更加困难，成本也更高。
2. A series of mishaps followed, as countries lurched into default or devaluation.当这些国家突然陷入违约危机和货币贬值后，一连串的灾祸便接踵而至。
3.The central bank holds vast quantities of treasury securities that it sells if itbelieves that the money supply should be reduced. Similarly, the central bank purchases Treasury securities if it believes that the money supply should be expanded.如果央行认为市场上货币供应量应减少，就会出售债券；同样，如果它认为货币供应量应该增加，就会购买政府债券。
二．Translate the following sentences into English1.一些国家实行紧缩银根的货币政策，以避免通货膨胀。
Some countries tighten monetary policy to avoid inflation.2.鉴于你我双方的长期贸易关系, 我们可以做成这笔交易。
In view of our longstanding business relationship, we can conclude the transaction.3.低成本高收益是所有成功商业的根本。
Low investment and high yield is the core of all successful business.Chapter Three Capital Markets一．Translate the following sentences into Chinese.1.In the broad context of bank fund raising and utilization, corporate banking is dividedinto assets, liabilities and fee-based business from the accounting perspective.从会计角度出发，也就是从资金来源和资金运用的角度出发，一般将公司金融业务划分为资产、负债和收费业务三大类。
2. A major credit rating agency recently reported that continued political unrest inThailand could hurt the country's economy. In its report, Fitch Ratings noted a reduction in manufacturing and sharply lower sales of goods and services. Fitch said, the trust of both Thai consumers and business is at its lowest level since the huge floods of 2011.一家大型信用评级机构最近报告称，泰国政治持续动荡可能会伤害该国的经济。
在报告中，惠誉评级指出了制造业的缩减以及商品和服务的销售大幅下降。
惠誉表示，泰国消费者和企业的信心都处于2011年大洪水以来的最低水平。
3.Ireland's bank bailout and government spending have expanded this year's deficit tomore than thirty percent of gross domestic product. This is ten times the EU limit for a deficit in relation to the size of an economy, as measured by GDP.对爱尔兰银行业的援助以及政府开支使今年的财政赤字增加到超过GDP的30%。
这比欧盟要求的财政赤字占GDP规模比例高出10倍。
二．Translate the following sentences into English1.这两轮熊市都始于投机热潮之后出现的资产价格暴跌。
Both bear markets began with a collapse in asset prices following a speculative frenzy.2.2007年信贷市场崩溃之时，杠杆收购潮迅即结束。
When the credit markets collapsed in 2007, the leveraged buyout boom abruptly ended.3.会计改革提高我国上市公司财务报告稳健性了吗？Has accounting reform improved financial reporting conservatism of Chinese listed companies?4.完善的公司治理结构对会计信息披露的影响有积极作用。
The perfect corporate governance structure is positive to the accounting information disclosure.Chapter Four Foreign Exchange Markets 一．Translate the following sentences into Chinese.1.In futures market, the hedgers, arbitragers, speculators make up the marketparticipants.在期货市场中，套期保值者、套利交易者和投机者构成了市场的参与主体。
2.Signs of stabilization, combined with rallying equities and reduced volatility, havesoothed investors’ nerves.经济稳定的迹象，再加上股市回暖和波动减弱，安抚了投资者的神经。