金融英语翻译题考试第一章

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第一章--为何学习金融市场与机构（英文习题及答案）资料

第⼀章--为何学习⾦融市场与机构（英⽂习题及答案）资料Chapter 1 Why Study Financial Markets and Institutions?1.1 Single Choice1)Financial markets and institutionsA)involve the movement of huge quantities of money.B)affect the profits of businesses.C)affect the types of goods and services produced in an economy.D)do all of the above.E)do only A and B of the above.2)Financial market activities affectA) personal wealth.B) spending decisions by individuals and business firms.C) the economy's location in the business cycle.D) all of the above.3) Markets in which funds are transferred from those who have excess funds available to those who have a shortage of available funds are calledA) commodity markets.B) funds markets.C) derivative exchange markets.D) financial markets.4) The price paid for the rental of borrowed funds (usually expressed as a percentage of the rental of $100 per year) is commonly referred to as theA) inflation rate.B) exchange rate.C) interest rate.D) aggregate price level.5) The bond markets are important becauseA) they are easily the most widely followed financial markets in the United States.B) they are the markets where interest rates are determined.C) they are the markets where foreign exchange rates are determined.D) all of the above.6) Interest rates are important to financial institutions since an interest rate increase _________ the cost of acquiring funds and _________ the income from assets.A) decreases; decreasesB) increases; increasesC) decreases; increasesD) increases; decreases7) Typically, increasing interest ratesA) discourages individuals from saving.B) discourages corporate investments.C) encourages corporate expansion.D) encourages corporate borrowing.E) none of the above.8) Compared to interest rates on long-term U.S. government bonds, interest rates on _________ fluctuate more and are lower on average.A) medium-quality corporate bondsB) low-quality corporate bondsC) high-quality corporate bondsD) three-month Treasury billsE) none of the above9) Compared to interest rates on long-term U.S. government bonds, interest rates on three-month Treasury bills fluctuate_________ and are _________ on average.A) more; lowerB) less; lowerC) more; higherD) less; higher10) The stock market is important becauseA) it is where interest rates are determined.B) it is the most widely followed financial market in the United States.C) it is where foreign exchange rates are determined.D) all of the above.11) Stock prices since the 1950s have beenA) relatively stable, trending upward at a steady pace.B) relatively stable, trending downward at a moderate rate.C) extremely volatile.D) unstable, trending downward at a moderate rate.12) The largest one-day drop in the history of the American stock markets occurred inA) 1929.B) 1987.C) 2000.D) 2001.13) A rising stock market index due to higher share pricesA) increases people's wealth and as a result may increase their willingness to spend.B) increases the amount of funds that business firms can raise by selling newly issued stock.C) decreases the amount of funds that business firms can raise by selling newly issued stock.D) both A and B of the above.14) A declining stock market index due to lower share pricesA) reduces people's wealth and as a result may reduce their willingness to spend.B) increases people's wealth and as a result may increase their willingness to spend.C) decreases the amount of funds that business firms can raise by selling newly issued stock.D) both A and C of the above.E) both B and C of the above.15) Changes in stock pricesA) affect people's wealth and their willingness to spend.B) affect firms' decisions to sell stock to finance investment spending.C) are characterized by considerable fluctuations.D) all of the above.E) only A and B of the above.16) (I) Debt markets are often referred to generically as the bond market. (II) A bond is a security that is a claim on the earnings and assets of a corporation.A) (I) is true, (II) false.B) (I) is false, (II) true.C) Both are true.D) Both are false.17) (I) A bond is a debt security that promises to make payments periodically for a specified period of time. (II) A stock is a security that is a claim on the earnings and assets of a corporation.A) (I) is true, (II) false.B) (I) is false, (II) true.C) Both are true.D) Both are false.18) The price of one country's currency in terms of another's is calledA) the exchange rate.B) the interest rate.C) the Dow Jones industrial average.D) none of the above.19) A stronger dollar benefits _________ and hurts _________A) American businesses; American consumers.B) American businesses; foreign businesses.C) American consumers; American businesses.D) foreign businesses; American consumers.20) A weaker dollar benefits _________ and hurts _________A) American businesses; American consumers.B) American businesses; foreign consumers.C) American consumers; American businesses.D) foreign businesses; American consumers.21)From 1980 to early 1985 the dollar _________ in value, thereby benefiting American _________A) appreciated; businesses.B) appreciated; consumers.C) depreciated; businesses.D) depreciated; consumers.22) Money is defined asA) anything that is generally accepted in payment for goods and services or in the repayment of debt.B) bills of exchange.C) a riskless repository of spending power.D) all of the above.E) only A and B of the above.23) The organization responsible for the conduct of monetary policy in the United States is theA) Comptroller of the Currency.B) U.S. Treasury.C) Federal Reserve System.D) Bureau of Monetary Affairs.24) The central bank of the United States isA) Citicorp.B) The Fed.C) Bank of America.D) The Treasury.E) none of the above.25) Monetary policy is chiefly concerned withA) how much money businesses earn.B) the level of interest rates and the nation's money supply.C) how much money people pay in taxes.D) whether people have saved enough money for retirement.26) Economists group commercial banks, savings and loan associations, credit unions, mutual funds, mutual savings banks, insurance companies, pension funds, and finance companies together under the heading financial intermediaries. Financial intermediariesA) act as middlemen, borrowing funds from those who have saved and lending these funds to others.B) produce nothing of value and are therefore a drain on society's resources.C) help promote a more efficient and dynamic economy.D) do all of the above.E) do only A and C of the above.27) Economists group commercial banks, savings and loan associations, credit unions, mutual funds, mutual savings banks, insurance companies, pension funds, and finance companies together under the heading financial intermediaries. Financial intermediariesA) act as middlemen, borrowing funds from those who have saved and lending these funds to others.B) play an important role in determining the quantity of money in the economy.C) help promote a more efficient and dynamic economy.D) do all of the above.E) do only A and C of the above.28) Banks are important to the study of money and the economy because theyA) provide a channel for linking those who want to save with those who want to invest.B) have been a source of rapid financial innovation that is expanding the alternatives available to those wanting to invest their money.C) are the only financial institution to play a role in determining the quantity of money in the economy.D) do all of the above.E) do only A and B of the above.29) Banks, savings and loan associations, mutual savings banks, and credit unionsA) are no longer important players in financial intermediation.B) have been providing services only to small depositors since deregulation.C) have been adept at innovating in response to changes in the regulatory environment.D) all of the above.E) only A and C of the above.30) (I) Banks are financial intermediaries that accept deposits and make loans. (II) The term "banks" includes firms such as commercial banks, savings and loan associations, mutual savings banks, credit unions, insurance companies, and pension funds. A) (I) is true, (II) false.B) (I) is false, (II) true.C) Both are true.D) Both are false.31) ____ was the stock market's worst one-day drop in history in the 1980s.A) Black FridayB) Black MondayC) Blackout DayD) none of the above32) The largest financial intermediaries areA) insurance companies.B) finance companies.C) banks.D) all of the above.33) In recent yearsA) interest rates have remained constant.B) success of financial institutions have reached levels unprecedented since the Great Depression.C) stock markets have crashed.D) all of the above.34) A securityA) is a claim or price of property that is subject to ownership.B) promises that payments will be made periodically for a specified period of time.C) is the price paid for the usage of funds.D) is a claim on the issuer's future income.35) ____ are considered a financial institutions.A) BanksB) Insurance companiesC) Finance companiesD) Investment banks36) Monetary policy affectsA) interest rates.B) inflation.C) business cycles.D) all of the above.答案：1-5：DDDCB 6-10：BBDAB 11-15：CBDDD 16-20：ACACA。

[教材]高等院校金融英语教科书第一单元翻译

货币（Money）1,1货币的定义：货币是指在支付购买商品和服务的款项方面以及在清偿债务方面为人们所普遍接受的事物。

currency(指纸币和硬币)显然符合这一定义，是money的一种类型。

然而，money仅仅是被定义为currency对于现在的人们来说太狭隘了，因为事实上不仅可以通过currency(货币，指硬币和纸币)进行支付，还可以通过支票转账和电子转账来进行支付。

因此，支票也作为被接受的用于购买的支付工具，支票账户存款也被认为是种货币。

有时，就有必要使用货币（money）的广义定义，因为如果money可以很便捷的转换为currency,那么像储蓄存款等实际上也可以发挥货币的作用。

1.2货币的类型1.2.1商品货币：商品货币或者实物货币是一种其价值来源于制作商品的货币，制作商品货币或实物货币的商品本身也拥有价值同时也可作为货币来使用。

曾被用来作为交换媒介的商品有金、银、铜、盐、大的石头、装饰的腰带、贝壳、酒、烟、大麦等。

实际上，在过去的4000年期间，主要的商品货币是贵金属：大多数是银、金，也称为足值货币，贵金属货币阶段是商品货币的阶段之一。

几乎所有的国家都曾经经历过贵金属货币（是货币的一种完美的形式）阶段。

1.2.2代用货币：代用货币或者代用足值货币是指完全有贵金属作为支持的货币。

代用货币的价值与商品有着直接固定的关系，然而它们本身并不是由商品构成。

在20世纪30年代，经济与金融危机爆发，纸币不再能兑换为贵金属，金本位制或者银本位制瓦解，主要的西方国家不得不脱离金属本位制。

因此，纸币不能再被兑换为黄金。

自那时开始，代用货币退出流通领域，信用货币就出现了。

1.2.3信用货币：信用货币既不是由特定的有价值的商品构成的也不代表特定的有价值的商品。

信用货币的价值取决于其普遍接受程度（而普遍接受程度又是以发行者的信用为基础的），信用货币是通过信用流程发行的。

信用货币有两个特征：一是和贵金属的联系，另一个其价值是基于国家政府和银行的信用。

金融英语unit1翻译

金融业的主要技术和领域一个收入超过其支出的实体，可以将他的超额收益拿去出借或者是投资；另一方面，一个收入少于其支出的实体，它可以通过借款或出售股权债权，降低其费用，或增加其收入筹集资金。

贷款人可以（找到一个借款人）通过金融中介机构，如银行，或在债券市场购买票据或债券找到一个借款人。

贷款人收到利息，借款人支付比贷款人更高的利率，而金融中介则是赚取其中的差价。

银行把许多借款人与贷款人的交易聚集起来。

银行接受来自贷款人的存款，并支付其利息；银行再将这些存款借给借款人。

银行允许借款人和贷款人，采用不同的规模，以协调他们的活动。

银行需要补偿资金这样的空间流动。

企业融资的一个具体例子是将股票出售给机构投资者，如投资银行，投资银行又转而卖给公众。

而谁拥有股票，谁就拥有那家公司的一部分所有权。

如果你买一股XYZ公司的股票，他们有100股流通股（按投资者持有），那么你就拥有公司1/100 的所有权。

当然，作为回报，投资者要向该公司支付现金，该公司用钱来扩展其业务，这个过程就叫“股权融资”。

股权融资与出售债券（或任何其他债务融资）的混合被称为该公司的资本结构。

财政用于个人（个人理财）、政府（财政）、企业（企业融资）、以及由各种组织，包括学校和非营利性组织。

在一般情况下，每一个上述的活动的目标，通过考虑到它们的机构设置，使用适当的金融工具得以实现。

财务是企业管理中最重要的方面之一。

如果没有适当的财务规划，新的企业是不可能成功的。

无论是对个人和组织，理财（流动资产）都是必要的，这样才能确保一个安全的未来。

个人理财个人理财是以个人或家庭为单位的货币决策原则的金融应用。

它解决了在个人或家庭获得预算，储蓄的途径，和随着时间的推移花费金钱资源的方式，同时考虑到各种金融风险和未来的生活事件。

个人理财的构成可能包括支票和储蓄账户，信用卡和消费贷款，投资于股票市场，退休计划，社会保障福利，保险政策，所得税管理。

个人理财的问题都是围绕着：●在哪个时点，个人（或家庭）所需要的是多少钱？●这些钱将从哪里而来，怎么获得的？●人们要怎么保护自己免受突发事件，以及保护那些在外部经济？●家庭资产如何进行最佳跨代（遗赠和继承）转让？●税收政策（税收补贴或罚款）是怎样影响个人财务决策？●信贷是怎样影响个人的财务状况？●在经济不稳定的环境，怎能设计一个安全的未来理财计划？个人财务决策在涉及教育，融资耐用品（如房地产和汽车），购买保险（例如健康和财产保险），投资及退休储蓄时，可能需要支付资金。

金融的英语课后翻译题答案详解

中译英：一.1.金融管理是商业管理的重要方面之一,没有合适的金融计划企业是不可能成功的;Finance is one of the most important aspects of business management. Without proper financial planning a new enterprise is unlikely to be successful.2.金融中介机构的基本宗旨是把不受公众欢迎的金融资产转变为他们能够接受的金融资产;Financial intermediaries play the basic role of transforming financial assets that less desirable for a large part of the public into other financial assets-their own liabilities-which are more widely preferred by the public.3.企业经营是有风险的,因而,财务经理必须对风险进行评估和管理;Businesses are inherently risky, so the financial manager has to identify risks and make sure they are managed properly.4.投资决策首先是指投资机会,常常指资本投资项目;The investment decision stars with the identification of investment opportunities, often referred to as capital investment projects.5.现金预算常常被用来评估企业是否有足够的现金来维持企业的日常经营运转和或是否有太多现金富裕;Cash budgets are often used to assess whether the entity has sufficient cash to fulfill regular operations and/or whether too much cash is being left in unproductive capacities.6.按照金融学的观点,资本就是企业购买商品以生产其它商品或提供服务的货币资金;Capital, in the financial sense, is the money that gives the business the power to buy goods to be used in the production of other goods or the offering of a service.四.1.商业银行应积极开展银行转账功能风险评估和分类,依据收款账户的潜在风险高低,相应设置不同的转账额度和次数限制;A commercial bank shall actively conduct the risk assessment and classification of the telephone banking transfer functions, and set different limits on the transfer amount and times according to the degree of potential risks on the recipient account.2.商业银行相对其他行业属于信息化程度较高的行业,银行数据库里积累了海量的客户信息Commercial banks have gained more information and have large scale of data.3.商业银行的管理人员在分析客户的贷款申请时必须考虑许多因素;Managers in Commercial banks have to consider many factors in analyzinga customer's loan request.4.除中国银行外,交通银行、农业银行、工商银行、建设银行在城乡也都设立了许多的机构,便于你获得金融服务;Besides the Bank of China, the Communication Bank, Agricultural Bank, Industrial and Commercial Bank, Construction Bank also have created many branches in a city or town, and that makes easier for you to get financialservices.5.定期存款也叫CD,是存款证书的一种类型;A certificate of deposit, also called a CD, is a type of savings certificate.6.商业银行作为一家金融机构,其业务范围包括：从个人和公司吸收存款；通过提供贷款和其他对客户的财务或生意的运转很重要的金融业务来建立信贷,包括资金转账、支票兑现、银行保管箱等;A commercial bank is an financial institution established to: accept deposits from individuals and businesses; originate credit by providing loans and offering other financial services essential to the running of a customer's financial or business affairs, including fund transfers, check cashing, safe deposit boxes, etc.六.1.外汇交易市场,也称为"Forex"或"FX"市场,是世界上最大的金融市场,平均每天超过1兆美元的资金在当中周转 -- 相当于美国所有证券市场交易总和的30倍;The Foreign Exchange Market, called by "Forex" market or FX market, is the biggest financial market in the world with trading volumes surpassing USD1 trillion average one-day, it is as big as 30 times of stock market.2."外汇交易"是同时买入一对货币组合中的一种货币而卖出另外一种货币;外汇是以货币对形式交易,例如欧元/美元EUR/USD或美元/日元USD/JPY;“Foreign exchange” is to buy one currency and sell another in currency pair at the same time. The trading form of foreign currency is the currency pair, for example EUR/USD OR USD/JPY.3.外汇交易市场是一个24 小时全球交易市场,市场交易每天从悉尼开始,并且随着地球的转动,全球每个金融中心的营业日将依次开始 , 首先是东京,然后伦敦,和纽约;Foreign exchange market is worldwide market where operating 24 hours a day, the market trading starts from Sydney, turning around the earth , the business day of every financial center in the world will star to trade in turn, then is Tokyo, next is London, and New York.4.外汇交易投资者可以对无论是白天或者晚上发生的经济,社会和政治事件而导致的外汇波动而随时反应;Investors of FX may make decisions base on the fluctuation of foreign currency price leaded by economics, society and political events no matter happens in day time or night.5.外汇交易市场是一个超柜台 OTC 或“ 银行内部”交易市场,因为事实上外汇交易是交易双方通过或者一个电子交易网络而达成的,外汇交易不象股票和期货交易市场那样,不是集中在某一个交易所里进行的;The foreign exchange market is Over the Counter OTC or interbank market because foreign currency is traded through phone or electronic trading net in fact, the trading of foreign currency does not like stock trade, it is not intensive trading in exchange center.6.在外汇交易中,您会看到一个两边的报价,由买价与卖价组成,买价是在此价格上您拟卖掉基础货币同时买进相反货币;卖价是这个价格,在此价格上您可以买进基准货币时卖掉相反货币;You will see the price board consisted of bid price and ask price in trading of foreign currency, bid price is the price you sell your base currency at the same time buy reverse currency. Ask price is the price you buy base currency and sell reverse currency.七.1.企业融资是指企业在发展扩张中筹集所需资金的行为;Business financing is an action of raising money when firms extend business and development2.企业融资是为了满足企业战略调整、产业扩张、现金周转等方面的需要; Business financing is to meet the requirement of strategy adjustment, industry extending, and turnover of cash and so on.3.企业通过融资行为改变资本结构,使资金得以形成、集中、积累、组合,同时形成相应的产权关系和权利、责任、利益格局;The capital structure of the firm will be changed through raising money, the capital will be formed in the form of centralization, accumulation, combination, and at the same time relative property right relations and pattern of benefit, duty and right will be formed.4.内部融资的来源公司的自有资金,以及在生产经营过程中的资金积累部分,在公司内部通过计提折旧而形成现金,或通过留用利润等增加公司资本;The resource of internal financing comes from company’s internal fund, the part of fund accumulation of producing and operating, cash from depreciation, or capital from remaining earning.5.债权性融资主要有向金融机构贷款和发行企业债券两种形式;The two majority forms about debit financing are lending money from financial institutes and issuing company bond.6.目前国内企业在进行投资时采用的融资方式有股权性融资、债权性融资等; Presently financing methods used by domestic enterprises when investing are equity financing and debit financing, etc.九.1.组合投资原则,即将风险资金按一定比例投向不同行业、不同企业项目,或联合几个风险投资公司共同向一家企业投资;The principle of portfolio investment is that the venture capital is invested into different industries and different projects, or make a cooperation with other investing companies to invest a company. 2.风险投资主体多元化原则,在美国,风险资金来源相当广泛,既有政府、财团法人的资金,也有来自大众游资、民间企业和海外的投资,还有养老保险基金的积极参与;The principle of diversification of venture capital, in American, the resource of venture capital is quite widespread, it comes from government, financial institutes, and it can come from privates, private firms and oversea investment, and pension fund joint venture capital too.3.创业投资是由专业投资者投入到新兴的、迅速发展的、有巨大竞争潜力的企业中的一种股权性资本;Venture investment is an equity capital which professional investors invest to a new, developing rapidly and more competitive firm.4.随着社会经济的快速发展,如何投资、如何理财已经成为商业人士关注的焦点;With society economy high-speed development, how to invest and finance is the focal point which business men focus on.5.创业投资以其谋求长期资本收益、分散投资及专业化管理的特点适应了高新技术产业的资金需求,以其特别的投资方式、合同方式和组织架构部分地解决了信息不对称和激励约束不当所带来的问题.Venture capital is looking for long term capital return, the characteristic of diversification of investment and professional management adapts capital requirements of high-new technical industry, special investing model of venture capital, contract model and frame of organization solve problems of information asymmetry and incentive and restraint mechanisms flaw in partly.6.投资者可把目光聚焦到正在发售的银行保本基金上,这种在国际市场上大受欢迎的新型理财品种不但能够提供银行储蓄般的安全感,而且可以利用此次利率上升的机会创造更高的收益；同时,加息导致债券价格下跌,实际上提高了即将入市的银行保本基金的债券投资收益率;Investors may focus on guaranteed fund issued by bank, it is new style of financing product which is welcomed in the international market, it is not only shows the safety like bank deposit, but also make higher return with the interest rate arise, at the same time, rising interest rates will lead to fall of the bond price, and make higher return of guaranteed fund which will be issued by banks.十.1.债券买卖是指交易双方以约定的价格买卖一定金额的债券并在规定的清算时间内办理债券款交割的交易方式;Security trading is a trading model that both of seller and buyer sign a contract with the confirmed bond price and number, during settlement both of seller and buyer make a delivery.2.债券回购是指交易双方进行的以债券为权利质押的一种短期资金融通业务;资金融入方正回购方在将债券卖给资金融出方逆回购方以融入资金的同时,双方约定在将来某一日期由正回购方按约定回购利率计算的金额向逆回购方买回相等数量的同品种债券的交易行为;Redeem of security is a short term financing business that both of issuer and holder of bond takes bond as right pledge, when the borrower of fund positive redeemer sells bond to lender of fund negative redeemer for financing, both of them sign a contract in there positive redeemer will redeem the bond that he issued with redeem interest from negative redeemer before maturity of bond.3.所谓可转换公司债券是指由公司发行的,投资者在一定时期内可选择一定条件转换成公司股票的公司债券,通常称作可转换债券或可转债;这种债券兼具债权和股权双重属性;Convertible bond is security issued by firm which investors have option to convert bond into firm’s stock during holding period, the convertible bond consists of two characters of bond and stock.4.证券交易必需受SEC及证券交易所自我约束机制的监管;Security trading must be managed by SEC and self-regulating mechanism of the stock exchange.5.场外交易市场不是一个正式的证券交易所,而是由经纪人和交易商组成的一个非正式的网络,他们通过这一网络协商证券的交易;The over-the-counter market is not official security exchange market, itis unofficial network grouped by dealers and brokers, dealers and brokers exchange securities through the network.6.一级市场上的发行方式也分为两种,公募和私募;The issue model of stock in the primary market can be classified into: public offering and private offering.十二.1.新股的发行价总是超过面值的,记录在公司帐上的这个差叫附加实缴资本,也叫资本公积;The price at which new shares are sold to inverstors almost always exceeds par value,the difference is entered the company’s accounts as additional paid-in capital, or capital surplus.2.尽管股票这个名字很大众化,但是,大部分人都不是充分了解它;Despite their popularity, however, most people don't fully understand stocks.3.公司的管理层的主要任务是增加公司股票持有人所持有公司资产的价值; The management of the company is supposed to increase the value of the firm for shareholders.4.有限责任是股票的一个十分重要的特征,这意味着公司在不能支付它的债务时股票持有者没有负债责任;An extremely important feature of stock is its limited liability, which means that, as an owner of a stock, you are not personally liable if the company is not able to pay its debts.5.理解股票供求关系是容易的,但是理解人们喜欢哪些股票不喜欢哪些股票是苦难的;Understanding supply and demand is easy, What is difficult to comprehend is what makes people like a particular stock and dislike another stock. 6.一些人人为预测股票价格变化是不可能的,而一些人认为通过画图和分析以前的价格变化就能决定买卖时间;Some believe that it isn't possible to predict how stock prices will change, while others think that by drawing charts and looking at past price movements, you can determine when to buy and sell.英译中：一.1. A cash budget is extremely important, especially for small businesses, because it allows a company to determine how much credit it can extend to customers before it begins to have liquidity problems.现金预算是十分重要的,特别是对小企业,这是因为它决定了企业可以使用多大的赊销份额而不发生现金困难;2. Financial intermediaries include depository institutions commercial banks and credit union who acquired the bulk of their funds by offering their liabilities to the public mostly form of deposit. 金融中介机构包括：存款性机构商业银行和信用合作社主要通过存款的形式向公众借款,从而获得大部分资金;3. A corporation is a legally distinct from its owners, who are called shareholders or stockholders. 公司在法律上独立于其所有者,即股东;financial planning focus on the firm’s goals, the investment that will be needed to meet those goals, and the financing that must be raised. 长期财务计划是关于企业的长期目标、为实现目标所需要的投资以及因此必须筹集的资金的计划;are classified into nonfinancial and financial businesses. These entities borrow funds in the debt market and raise funds in the equity market. 企业可被分成金融企业和非金融企业两类;这些企业在债务市场借款和在权益市场融资;6. Finance is the set of activities dealing with the management of funds. More specifically, it is the decision of collection and use of funds. It is a branch of economics that studies the management of money and other assets.金融是涉及到一系列有关资金管理的活动;特别的,它是有关资金使用和筹集的决策;它是经济学的一个研究货币和其它资产管理的分枝;四. risk-based capital requirements imposed on commercial bank and saving and loan associations.对商业银行和存贷款协会实施以风险为基础的资本金要求;regulates commercial banks and thrifts and types of regulations imposed. 谁来监管商业银行与储蓄机构以及何种方式来进行;3. Banks generate income in three ways: 1the bid-ask spread;2capital gains on the securities or foreign currency used in transactions, and 3in the case of securities, the spread between interest income earned by holding the security and cost of funding the purchase of security.银行可以从三个方面产生收入：1买卖差价；2证券或外汇交易的资本利益；3证券的利息收入和购买证券资金成本之间的价格差异;4. Several types of deposit accounts are available. Checking accounts pay no interest and can be withdrawn upon demand.存款帐户有好几种,支票帐户不支付利息可以随时提取;certificate of deposit can take a wide variety of forms which are negotiable with the issuing bank. 定期存单可以采取多种多样的形式是可转让的发卡银行;that raise most of their funds from the domestic and international money markets, relying less on depositors for funds, are called money center banks.货币中心银行是指较少依赖存款,并在国内或国外货币市场筹集资金的银行;六.1,The foreign exchange market is a place to trade foreign exchange currency, or it is also a place for the transaction of all foreign currency. 外汇市场是交易外国货币或各国货币的场所.foreign exchange rate is the relative value between two currencies. In particular, it is the quantity of one currency required to buy or sell one unit of the other currency.汇率是两种货币间的相对价值, 特别是, 它是买卖一个其它货币单位所代表的本币量值.. dollars are not used to express an exchange rate, the term "cross rate" is usually used to express the relative values between two currencies.在美元被用来表示汇率的地方,套汇汇率就被用来表示两种货币间的相对价值.an online currency trader wants to survive in the business, he must learn to limit his losses. This is one of the keys to smart money management. 如果一个网络货币交易者要持续他的交易他必须学习限制损失,这是货币管理的关键点.is safer to get into a currency position in multiple lots than to do it all at once.在多个地点持有外汇头寸比同时持有多个头寸安全.Forex market itself consists of a worldwide network of primarily interbank traders connected by telephone lines and computers. FX traders constantly negotiate prices between one another and the resulting market bid/ask price for a particular currency is then fed into computers and displayed on official quote screens.外汇市场本身含有提供给银行交易者通过线和计算机连接的全球范围的网络,外汇交易者讨论的汇率价格产生了市场上某种货币的报价和询价并通过计算机系统显示在交易屏幕上.七. you have too much debt, your business may be considered overextended and risky and an unsafe investment.如果你的企业负债比重过高,投资者则会认为企业是扩张过度,对投资者来说是不安全和高风险的;financing is attractive because you do not have to sacrifice any ownership interests in your business, interest on the loan is deductible, and the financing cost is a relatively fixed expense.债务融资对企业权益者是有吸引力的因为债务融资不会牺牲权益者的利益,借款利息可在收益中扣减,财务成本是相对固定费用.corporation is a separate legal entity that can be created only by compliance with state statutes.公司是一个其所有权与经营权相分离的经济实体即法人组织,公司的成立要遵守洲法.partners raise equity funds through their own capital contributions, by adding a new partner, or by restructuring the relative ownership interests of the existing partners to reflect new contributions.合伙人企业可通过出让合伙人自己的资本份额,或增加合伙人的方式来增加企业资本,或采用对原有合伙人所拥有的相对资本份额进行重组的方式来反映新的资本.financing requires that you sell an ownership interest in the business in exchange for capital.权益融资需要企业所有者出让企业的所有权利益来换取资本.major disadvantage to equity financing is the dilution of your ownership interests and the possible loss of control that may accompany a sharingof ownership with additional investors.权益融资的主要缺点是稀释了所有者的利益,随着其他投资者所占权益份额的扩大企业控制权也可能失去.九. is when everything in the economy is great, people are finding jobs, is growing, and are rising. Things are just plain rosy during a bull market is easier because everything is going up.牛市意味着经济发展强劲,工作岗位多,GDP 增长,股票价格上升.前景变得光明.在牛市期间投资股票将有丰厚收益因为所有物品的价格都将上升.markets cannot last forever though, and sometimes they can lead to dangerous situations if stocks become overvalued.牛市不可能永远持续,如果股票价格被高估则牛市就将导致崩盘.a person is optimistic, believing that stocks will go up, he or she is called a "bull" and said to have a "bullish outlook."如果一个人乐观的认为股票价格将上升,他或她被称做”多头”和有一个行情看涨的形象.investments it is critical to distinguish between an expected return the anticipated return for some future period and a realized return the actual return over some past period. Investors invest for the future—for the return they expect to earn—but when the investing period is over, they are left with their realized returns.投资学对期望收益预测的将来某时间段的收益和已实现收益过去某时段的实际收到的收益有严格的区分.投资者投资为将来-他们希望获取的收益-但是在投资周期结束后,他们只得到实际的收益.investors actually earn from their holdings may turn out to be more or less than what they expected to earn when they initiated the investment. This point is the essence of the investments process: investors must always consider the risk involved in investing.投资者在投资期间实际得到的收益与他们初始投资所预想的收益或多或少有差异.投资过程的关键点是:投资者在投资时必须牢记风险的成在.are three important factors you need to consider before buying a bond. The first is the person issuing the bond. The second is the interest or coupon you will receive. The third is the maturity date, the day when the borrower must pay back the principal to the lender.在投资债券前你要考虑三个重要因素:第一是债券发行人;第二是你将得到的利息或折扣;第三是到期时间, 在到期日债券发行人必须将本金退给债券持有人.十. higher rate of return the bond offers, the more risky the investment. There have been instances of companies failing to pay back the bond default, so, to entice investors, most corporate bonds will offer a higher return than a government bond.债券收益率越高投资风险越大,已有公司不能在到期日偿还债券本金违约的先例,所以, 为了诱使投资者购买公司债券大多数公司都发行高于政府债券利率的债券.is important for investors to research a bond just as they would a stock or mutual fund. The bond rating will help in deciphering the default risk.象研究股票和共同基金样研究债券对投资者来说是必要的, 辨别债券等级将有助于识别违约风险.interest is added to the contract price of a bond transaction.应计利息要加到债券交易合同价格中.Gain. An increase in the value of a investment or real estate that gives it a higher worth than the purchase price. The gain is not realized until the asset is sold. A may be short term one year or less or long term more than one year and must be claimed on income taxes.资本利得是资本价值投资或不动产的增加,也就是高于购买价格的增值部分,利得只有在这些资产出售后才能实现, 资本利得可以是短期一年以内或长期一年以上, 资本利得必须征税.any other type of investment vehicle, fixed-income securities should be viewed in terms of their risk and return. Generally speaking, bonds are exposed to five major types of risks: interest rate risk, purchasing power risk, business/financial risk, liquidity risk, and call risk.象任何其它投资工具一样,固定收益证券也应该按照它们的风险和收益来进行评价. 一般看来, 证券有五种主要的风险:利率风险,购买力风险,商业风险,流动性风险和回购风险.far we've discussed the factors of face value, coupon, maturity, issuers and yield. All of these characteristics of a bond play a role in its price.到目前我们已经讨论了债券的面值,利息率,到期日,发行人和收益,全部这些特征都会影响到债券的价格.十二. splits,like stock dividents, do not increase the assets or earning capacity of the firm,the split does decrease the price of the stock and thereby may increase its marketability.股票拆分与股票股利一样,并不能增加公司的资产或者提高公司的盈利能力,拆分降低了股票的价格,从而增加了股票的流动性;may repurchase shares to reduce the chance of an unwanted takeover attempt.管理层可以回购股票来避免公司被收购;two most important characteristics of common stock as an investment are its residual claim and limited liability features.作为投资的普通股的两个最重要的特征是剩余索取权和有限责任;stocks are traded on exchanges, which are places where buyers and sellers meet and decide on a price.大部分股票都是在证券交易所交易,买卖双方在那儿搓合股票价格;5. The most important factor that affects the value of a company is its earnings. Earnings are the profit a company makes, and in the long run no company can survive without them.6. Stock prices change every day as a result of market forces. By this we mean that share prices change because of supply and demand. If more people want to buy a stock demand than sell it supply, then the price moves up.由于市场的原因股票价格每天都在变化,股票价格是由于供求关系的原因而变化的,如果买的人比卖的人多则股票价格上升;。

大学金融英语chapter 1 Basics of Money精品教育文档

Notes
16. ready money or ready cash 现金 17. danger money 危险工作补贴 18. standard money 本位货币 19. smart money 投资于有高回报工程的钱 20. safe-heaven money 币值稳定且有升值空间的钱 21. fiat money 不兑现纸币 22. token money 辅币
大学金融英语
College English for Western Finance
陈庆柏王景仙主编
Part One
Money
Chapter One
Basics of Money
Learning objectives
After studying this chapter you should be able to: 1. Define the term of “Money” 2. Tell the reasons for studying money 3. Know the major functions of money 4. Talk about the attributes or properties of money 5. Distinguish between the chief money theories 6. Explain different types of money
hyperinflation）
Notes
8. legal tender 法定货币，法币 9. legal process 法律手续 10. Say’s Law 萨伊法则 11. Milton Friedman 米尔顿·弗雷德曼（美国和世界知名货币主义

《金融专业英语》习题答案

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

此外，财政部负责银行业监管的财务会计及税收方面。

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

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

财经英语1-5单元翻译题整理

UNIT1 EXERCISE 91.没有金融中介的行为，金融中介机构就无法存在。

Financial intermediaries could not exist without intermediation.2.所有的存款人在同一时间提取资金是极不可能的。

It is highly improbable that all depositors will withdraw funds at the same time.3.金融机构促使资金从货款人向借款人更为有效地流动。

Financial intermediaries facilitate a more efficient flow of funds from lenders to borrowers.4.这种利率的降低可能对一个国家的经济增长率和发展极为有利。

This lowering of interest rates would be highly beneficial to a country’s rate of economic growth and development.UNIT2 EXERCISE91.货币市场包括了一系列的市场，每个市场交易的是一种完全不同的金融工具。

The money market consists of a traders will sell at the highest price and buy at the lowest.2.可以理解的是，交易人要以最高价卖出而以最低价买入。

It is understandable that the traders will sell at the highest price and buy at the lowest.3.在交易室里，电话铃声从来不响，打进的电话是由闪烁的灯光来显示的。

In the trading room phones never ring. Instead, incoming calls are signaled by the blinking lights.4.参与交易的双方指示联储银行从一种客户的银行帐户上将资金划拨到另一方的银行帐户上。

金融英语句子翻译

金融英语句子翻译第一章1、Global competition has forced government to deregulate various aspects of their financial markets so that their financial enterprises can compete effectively around the world.全球竞争迫使政府在其金融市场的不同方面放松监管，使其金融市场在全球更具竞争力。

2、Unlike retail investors,institutional investors have been more willing to transfer funds across national borders to improve portfolio diversification and exploit perceived mispricing of financial assets in foreign countries.机构投资者与个人投资者不一样，他们更愿意在不同国家间转移资金来改善其组合的多元化，或者说利用其所觉察到的国外金融资产定价失误来谋利。

3、In some countries,large corporations seeking to raise a substantial amount of funds may have no choice in its domestic market but to obtain financing in either the foreign market sector of another country or the Euromarket.在一些国家里，有些大公司对资金的需求太大，国内市场无法提供，不得不向另外一些国家的外国市场或欧洲市场寻求融资。

4、Financial assets and tangible assets are linked.Ownership of tangible assets is financed by the issuance of some type of financial asset—either debt instruments or equity instruments.For example,a U.S.airline purchases a fleet of aircraft for$250million,suppose that a debt instrument is issued to raise the$250million.The cash flow from the passenger travel will be used to service the payments on the debt instrument.Ultimately,therefore,the cash flow for a financial asset is generated by some tangible asset.金融资产和有形资产是相关的。

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第一章1、Global competition has forced government to deregulate various aspects of their financial markets so that their financial enterprises can compete effectively around the world.全球竞争迫使政府在其金融市场的不同方面放松监管，使其金融市场在全球更具竞争力。

一些类型的金融资产为有形资产的所有权提供融资，这些金融资产可以是债务工具也可以是权益工具。

例如,美国航空公司购买一批飞机为2.5亿美元,可以认为，发行一个债务工具筹集了2.5亿美元。

乘客旅行的现金流将用于服务债务工具的支付。

因此，最终,一些有形资产产生了金融资产的现金流。

5、With increased volatility(波动)of interest rates,inflation,equity prices,and exchange rates comes the need for certain market participants to protect themselves against unfavorable consequences. This means new or more efficient ways of risk sharing in the financial market are needed.增加利率、通货膨胀、权益价格以及汇率的波动性是使得市场参与者要保护自己，防止出现不利的后果。

这就意味着金融市场当中需要新的、更为有效的方法来分散风险。

6、Because of the globalization of financial markets throughout the world,entities in any country seeking to raise funds need not be limited to their domestic financial market.Nor are investors in a country limited to the financial assets issued in their domestic market. Globalization means the integration of financial markets throughout the world into an international financial market.There is a trend toward integration of financial markets throughout much of the world 由于金融市场的全球化，任何国家的实体企业要想提高其筹资数量，就没有必要局限在国内金融市场，同时，投资者也没有必要经济购买北国金融市场发行的金融资产。

金融市场全球化意味着全世界金融市场一体化，也就是说集成为一个世界性的金融市场。

金融市场一体化的趋势遍及世界大部分地区。

7、Technological advances have increased the integration of and efficiency of the global financial market.Advances in computer technology,coupled with advanced telecommunication systems, allow the transmission of real-time information on security prices and other key information to many participants in many places.Therefore, many investors can monitor global markets and simultaneously assess how this information will impact the risk/return profile of their portfolios.技术进步提高了全球金融市场的效率和一体化进程。

计算机技术与通信体系的先进性使得有关证券价格的实时信息、关键信息能够自由地在不同市场的许多市场参与者之间传播。

因此，许多投资者能够监视全球市场，同时评估这些信息对其投资组合的风险与收益所产生的影响。

8、Significantly improved computing power allows the instant manipulation of real-time market information so that arbitrage opportunities can be identified.Once these opportunities are identified,telecommunication systems permit the rapid execution of orders to capture them.计算能力的有效提升，可以让投资者即时处理实时的市场信息确定套利机会。

一旦确定套利机会，发达的通信系统会立即帮助投资者执行指令捕获这些机会。

9、Our current regulatory structure was not built to address the modern financial system with its diversity of market participants, innovation,complexity of financial instruments,convergence of financial intermediaries and trading platforms,global integration and interconnectedness among financial institutions,investors andmarkets.Moreover,our financial services companies are becoming larger,more complex and more difficult to manage.当前，我们的金融结构不能应对现代金融体系，现代金融体系具有多元化的市场参与者、具有创新、复杂的金融工具、收敛性的金融中介机构与交易平台、全球一体化以及相互关联的金融机构、投资者与市场。

然而，我们的金融服务公司越来越大、越来越复杂、越来越难管理。

我们现在的监管体系是大萧条之后发展起来的，它的发展是一种反应模式，即当市场存在压力或创新时，新的监管会被创造出来。

10、Much of our current regulatory system was developed after the Great Depression and it has developed through reaction—a pattern of creating regulators as a response to market innovations or to market stress。

Henry M.Paulson,Jr.March31,2008我们当前的许多监管体系是在大萧条后发展起来的，它已经通过创建监管机构来应对市场创新或市场压力的一个模式发展起来了。

亨利·保尔森2008年3月31日。