金融英语习题
1. Usually the low interest rate currency trades at a ______ to the high interest rate currency in the forward market.
A. premium
B. par
C. discount
D. bar
2. Which of the following statements about standby letters of credit is true？______.
A. They can serve as a guarantee to a buyer against a seller defaulting
B. They are contrary to the general rule that letters of credit may only be used for the actual movement of goods
C. They are unlike a tender bond in their legal standing and method of operation
D. They are unlike a tender bond with its fixed expiry date
3. The most liquid of all assets is ______.
A. the stock of commercial banks
B. M 1
C. intelligence
D. the debt of major corporations
4. Beta and standard deviation differ as risk measures in that beta measures ______.
A. only unsystematic risk，while standard deviation measures total risk
B. only systematic risk，while standard deviation measures total risk
C. both systematic and unsystematic risk，while standard deviation measures only unsystematic risk
D. both systematic and unsystematic risk，while standard deviation measures only systematic risk
5. What information would you find in a statement of cash flows that you would not be able to get from the other two primary financial statements？______.
A. Cash provided by or used in financing activities
B. Cash balance at the end of the period
C. Total liabilities due to creditors at the end of the period
D. Net income
6. An analyst estimates that a stock has the following probabilities of return depending on the state of the economy：
State of economyProbabilityReturn Good 0.1 15% Normal 0.6 13% Poor 0.3 7%The expected return of the stock is ______.
A. 7.8%
B. 11.4%
C. 11.7%
D. 13.0%
7. According to the rules of debit and credit for balance sheet accounts ______.
A. increases in asset，liability，and owner’s equity accounts are recorded by debits
B. decreases in asset and liability accounts are recorded by credits
C. increases in asset and owner’s equity accounts are recorded by debits
D. decreases in liability and owner’s equity accounts are recorded by debits
8. Individuals will accept the medium of exchange in return for goods and services only if they are confident that ______.
A. the inflation rate is zero
B. it possesses intrinsic value
C. they can pass it on to others
D. they can exchange it for gold
9. When a country’s currency appreciates，the country’s goods abroad become ______ and foreign goods in that country become ______.
A. cheaper... more expensive
B. more expensive... cheaper
C. cheaper...cheaper
D. more expensive... more expensive
10. A US company is bidding for a contract in China. Its Chinese customer asks for a
performance bond. What is the most likely course of action？______.
A. It asks its bank to issue a tender bond which can be converted into a performance bond
B. It gives up its bid
C. It consults its bank about issuing a standby letter of credit
D. It asks its bank to issue a performance bond
11. ABC Co. Ltd. has a $3 500 account receivable from XYZ Store. On March 20，XYZ makes a partial payment of $2 100 to ABC. The journal entry made on Mdrch
20 by ABC to record this transaction includes ______.
A. a debit to the cash received account of $2 100
B. a credit to the Accounts Receivable account of $2 100
C. a debit to the Cash account of $1 400
D. a debit to the Accounts Receivable account of $1 400
12. Intervention in the foreign exchange market means the government ______.
A. restricts individuals from buying and selling foreign exchange
B. restricts the importation of certain goods
C. or central bank buys or sells foreign exchange
D. devalues the currency in the foreign-exchange market
13. Which of the following is not a form of countertrade？______.
A. Counterpurchase
B. Buy-back
C. Offset
D. Balance trade
14. A credit to a revenue account ______.
A. decreases revenues
B. increases equity
C. decreases equity
D. increases assets
15. If the government guaranteed that anyone wishing a job would be provided one，the likely result would be ______.
A. massive layoffs
B. an increase in the money supply
C. an increase in inflationary expectations
D. the development of a barter system
17. Economists assume that most people take risks ______.
A. because doing so is exciting
B. only when they have no riskless alternative
C. very infrequently
D. if they are compensated for taking the risks
18. The Phillips Curve shows the relationship between ______.
A. aggregate demand and aggregate supply
B. interest rates and inflation
C. recessions and booms
D. inflation and the unemployment rate
19. In a fixed exchange rate system，speculative selling of a currency is based on anticipation of .
A. appreciation
B. devaluation
C. a foreign trade surplus
D. interest rate increase
20. A collecting bank is employed by ______.
A. the principal
B. the remitting bank
C. the drawer
D. the drawee，who is its customer
1. What are the expected returns for Stocks X and Y respectively？______.
A. 20% and 10%
B. 18% and 12%
C. 20% and 11%
D. 18% and 5%
2. Which of the following payment terms eliminates the exchange risk，assuming the exporter invoices in foreign currency？______.
A. Confirmed irrevocable documentary credit
B. Open account
C. Documentary collection D/A
D. None of the above
3. ABC Co. Ltd. purchased a car for $ 12 000，making a down payment of $5 000 cash and signing a $7 000 note payable due in 60 days. Which of the following is not correct？______.
A. From the viewpoint of a short－term creditor，this transaction makes the business less solvent
B. Total liabilities increased by $7 000
C. Total assets increased by $12 000
D. This transaction had no immediate effect on the owner‘s equity in the business
4. Which of the following terms of payment will entirely eliminate country risk？______.
A. Revocable documentary credits
B. Confirmed Irrevocable documentary credits
C. Documentary collection D/P
D. Documentary collection D/A
5. The expiry date of a documentary credit is Sunday，24 February，and documents have to be A presented to you. Which of the following is an acceptable presentatio n？______.
A. Presentation to you on Monday 25 February with the bill of lading dated 25 February
B. Presentation on Monday 25 February with the bill of lading dated Sunday 24 February
C. Presentation on Tuesday 26 February with the bill of lading dated Sunday 24 February
D. Presentation on Friday 22 February with the bill of lading dated Sunday 29 January
6. What are the standard deviations of returns on Stocks X and Y respectively？______.
A. 15% and 26%
B. 24% and 13%
C. 20% and 4%
D. 28% and 8%
7. Who makes the first presentation of documents under a transferable credit？______.
A. Applicant
B. First beneficiary
C. Second beneficiary
D. None of the above
8. A transaction caused a $10 000 decrease in both total assets and total liabilities. This transaction could have been ______.
A. repayment of a $ 10 000 bank loan
B. an asset with a cost of $10000 was destroyed by fire
C. purchase of a delivery truck for $10 000 cash
D. collection of a $10 000 account receivable
9. Money ceases to serve as an effective store of value when ______.
A. the government runs large deficits
B. the unemployment rate is very high
C. productivity in the economy declines
D. rapid inflation occurs
10. An indication that the money supply is greater than the desirable amount would be .
A. insufficient spending and excessive saving
B. deflation
C. inadequate spending and rising unemployment
D. rising wages and prices
1. Which of the following is not a function of money？______.
A. To act as a medium of exchange
B. To act as a unit of account
C. To act as a store of value
D. To provide a double coincidence of wants
E. To act as a means of payment
2. The price in the foreign exchange market is called ______.
A. the trade surplus
B. the exchange rate
C. the money price
D. the currency rate
3. Market risk refers to the risk of______.
A. financial prices fluctuations
B. default
C. fraud
D. deferred payments
4. Which of the following is not among the generally accepted accounting principles？______.
A. Cash basis B . Prudence C. Consistency
D. Going concern
E. Money measurement.
5. What is a documentary letter of credit？______.
A. A conditional bank undertaking to pay an exporter on production of stipulated documentation
B. A method of lending against documentary security
C. An international trade settlement system biased in favour of importers
D. All of the above
6. Holding a group of assets reduces risk as long as the assets ______.
A. are perfectly correlated
B. are completely independent
C. do not have precisely the same pattern of returns
D. have a correlation coefficient greater than one
7. An amount，payable in money goods，or service，owed by a business to a creditor，is known as a/an .
A. liability
B. debt
C. equity
D. asset
8. What function is money serving when you buy a ticket to a movie？______.
A. store of value
B. a medium of exchange
C. transaction demand
D. a unit of account
9. If foreigners expect that the future price of sterling will be lower，the ______.
A. supply of sterling will increase，demand for sterling will fall，and the exchange
rate will fall
B. supply of sterling will increase，demand for sterling will rise，and the exchange rate may or may not increase
C. supply of sterling will fall，demand for sterling will increase，and the exchange rate will rise
D. supply of sterling will fall，demand for sterling will fall，and the exchange rate may or may not fall
10. The documentary collection provides the seller with a greater degree of protection than shipping on ______.
A. open account
B. bank‘s letter of guarantee
C. banker‘s draft
D. documentary credit
11. Which of the following statements is not true of central banks？______.
A. They pay the government‘s salaries
B. They always undertake the regulation of the banking system
C. They are always the lender of last resort
D. None of the above
12. When GBP/USD rate goes from 1.6150 to 1.8500，we say the dollar ______.
A. appreciates by 12.70%
B. depreciates by 14.55%
C. depreciates by 12.70%
D. appreciates by 14.55%
13. According to diversification principle in investment，suppose you invest Stock X and Stock Y with equal funds，which of the following is not true？______.
A. If X and Y are totally independent with each other，the risk of the portfolio is reduced
B. If X and Y are perfectly negatively correlated，the risk of the portfolio is perfectly offset
C. If X and Y are perfectly positively correlated，the risk of the portfolio is neither reduced nor increased
D. If X and Y are perfectly negatively correlated，the risk of the portfolio is neither reduced nor increased
15. The main liability on a bank balance sheet is ______.
A. deposits
B. capital and reserves
C. loans and overdrafts
D. cash
16. ______ shows that net income for a specified period of time and how it was calculated.
A. The income statement
B. The capital statement
C. The accounting statement
D. The statement of financial condition
17. Why must the liabilities and assets of a bank be actively managed？______.
A. Because assets and liabilities are not evenly matched on the same time scale
B. Because assets and liabilities are evenly matched
C. Because the interbank market uses LIBOR
D. Because assets and liabilities can be underwritten
18. If the expected returns of two risky assets have a perfect negative correlation，then risk .
A. is increased
B. falls to zero
C. is unaffected
D. is reduced by one－half
19. A possible disadvantage of freely fluctuating exchange rates with no o fficial intervention is that .
A. some nations would experience continual deficits
B. the exchange rates may experience wide and frequent fluctuations
C. nations would no longer be able to undertake domestic policies designed to achieve and maintain full employment
D. nations would need a larger supply of international reserves than otherwise
20. What are your GBP/USD position and the average rate if you sell 4m at 1.6350 buy 5m at 1.6340 and sell $5m at 1.6348？
A. Short 2 058 478.10 long $3 370 000 at 1.6371
B. Long 5 941 521.90 short $9710 000 at 1.6342
C. Short 5 941 521.90 long $9 710 000 at 1.6342
D. Long 4 058 478.10 short $6 630 000 at 1.6336
答案：
1.D
2.B
3.A
4.A
5.A
6.C
7.A
8.B
9.A 10.A
11.B 12.B 13.D 14.B 15.A 16.A 17.A 18.B 19.B 20.D
II. True or False Questions
26. As a general rule，the shorter the maturity of an asset and the more readily it can be sold，the more liquid is the asset.
27. Investors in the capital markets are not subject to any tax on their investments.
28. CMO is a security backed by a pool of pass－through rates，structured so that there are several classes of bondholders with varying maturities，called tranches. 29. The purpose of the letter of credit is to facilitate trade，typically international trade by substituting the known credit worthiness of a bank for the buyer，which may be unknown or unacceptable to the seller.
30. According to the Phillips Curve，the economy cannot be at full employment and stable prices at the same time.
31. When total reserves are equal to required reserves，the banking system cannot extend loans anymore.
32. A bill of lading that covers the shipment of goods on two separate vessels is known as thorough bill of lading.
33. Usually the more liquid asset is less risky.
34. Where the bill of exchange is not accompanied by documents，these having been sent to the importer，the transaction is known as a clean collection.
35. The velocity of money is the speed with which it can be converted into a liquid asset.
36. Primitive securities yield returns that depend on additional factors pertaining to the prices of other assets，while a derivative security offers returns based only on the status of the issuer.
37. A car loan offered by a bank is a derivative security.
38. Options give buyers the obligation to buy or sell an asset at a present price over a specific period.
39. Futures contracts usually end in the delivery of the underlying commodity.
40. The forward exchange rate is the current spot rate adjusted for the interest rate differentials.
41. Dirty price is the bond price excluding accrued interest，i.e.，the price paid by the bond buyer.
42. Every transaction must produce a debit and credit entry of the same financial amount.
43. There are three parties to a life policy in addition to the issuing company：the insurer，the life assured and the beneficiary.
44. A guarantee is an agreement that may be evidenced in writing or in oral form.
45. An insurable interest is assumed where people take life assurance on their own lives or where the relationship is that of husband and wife.
46. Profit does not equal cash and some profitable businesses have failed for want of cash.
47. Bills are negotiated with recourse to customers in the event of nonpayment.
48. A firm‘s gearing is the level of fixed assets as a percentage of total assets.
49. A bank must obtain a judgment if it wishes to pursue its legal remedies against a debtor.
50. When a country borrows from abroad，its balance of international payments shows an outflow of foreign exchange.
1. Under which one of the following circumstances would it be wise for your customer to arrange a forward foreign exchange contract？______.
A. Import of goods priced in a foreign currency
B. Import of goods priced in RMB
C. Export of goods priced in RMB
D. Export of goods priced in a foreign currency where the rate of exchange has been agreed in the sales contract
2. Incoterms address ______.
A. the risks of loss between the parties
B. breaches of contract
C. ownership rights
D. type of ship used
3. Which of the following is or was an example of representative full－bodied money？______.
A. Debt money
B. ATS account
C. Gold certificate
D. Demand deposit
4. Risks associated with investing in foreign countries are the following except ______.
A. voting risk
B. exchange rate risk
C. country risk
D. political risk
5. An exporter sells goods to a customer abroad on FOB and on CIF term. Who is responsible for the freight charges in each？______.
A. Exporter; Exporter
B. Exporter; Importer
C. Importer; Importer
D. Importer; Exporter
6. Default risk refers to the possibility that a borrower may ______.
A. be unable to repay the principal on his loan
B. be unable to make the interest payments on his loan
C. go bankrupt
D. all of the above
7. What is the reserve requirement？______.
A. The requirement of a bank to deposit a percentage of money
B. The requirement for deposits in cash
C. The percentage of a bank‘s deposits in the form of cash reserves
D. The requirement for cash reserves
8. A draft is like a check that can be en dorsed but it isn‘t a title to goods，like ______.
A. a bill of lading
B. an inspection certificate
C. a certificate of origin
D. an insurance certificate
9. Arbitrage ______.
A. is a general economic term for buying something where it is cheap and selling it where it is dear
B. keeps exchange rates consistent across markets
C. has been outlawed by the International Monetary Fund
D. cannot occur where there is a forward exchange market
E. both A and B
10. What is the purpose of comparing the ledger entries with the documents？______.
A. To prove that all the transactions have made for the right amounts
B. To prove that all the accounts have been posted correctly
C. To check the number of all the debits and credits
D. To post the right accounts
FECT-Exercises-2(1)
1. Usually the low interest rate currency trades at a ______ to the high interest rate currency in the forward market.
A. premium
B. par
C. discount
D. bar
2. Which of the following statements about standby letters of credit is true? ______.
A. They can serve as a guarantee to a buyer against a seller defaulting
B. They are contrary to the general rule that letters of credit may only be used for the actual movement of goods
C. They are unlike a tender (or other) bond in their legal standing and method of operation
D. They are unlike a tender bond with its fixed expiry date
3. The most liquid of all assets is ______.
A. the stock of commercial banks
B. M 1
C. intelligence
D. the debt of major corporations
4. Beta and standard deviation differ as risk measures in that beta measures ______.
A. only unsystematic risk, while standard deviation measures total risk
B. only systematic risk, while standard deviation measures total risk
C. both systematic and unsystematic risk, while standard deviation measures only unsystematic risk
D. both systematic and unsystematic risk, while standard deviation measures only systematic risk
5. What information would you find in a statement of cash flows that you would not be able to get from the other two primary financial statements? ______.
A. Cash provided by or used in financing activities
B. Cash balance at the end of the period
C. Total liabilities due to creditors at the end of the period
D. Net income
6. An analyst estimates that a stock has the following probabilities of return depending
A. 7.8%
B. 11.4%
C. 11.7%
D. 13.0%
7. According to the rules of debit and credit for balance sheet accounts ______.
A. increases in asset, liability, and owner's equity accounts are recorded by debits
B. decreases in asset and liability accounts are recorded by credits
C. increases in asset and owner's equity accounts are recorded by debits
D. decreases in liability and owner's equity accounts are recorded by debits 265
8. Individuals will accept the medium of exchange in return for goods and services only if they are confident that ______.
A. the inflation rate is zero
B. it possesses intrinsic value
C. they can pass it on to others
D. they can exchange it for gold
9. When a country's currency appreciates, the country's goods abroad become ______ and foreign goods in that country become ______.
A. cheaper... more expensive
B. more expensive... cheaper
C. cheaper...cheaper
D. more expensive... more expensive
10. A US company is bidding for a contract in China. Its Chinese customer asks for a performance bond. What is the most likely course of action? ______.
A. It asks its bank to issue a tender bond which can be converted into a performance bond
B. It gives up its bid
C. It consults its bank about issuing a standby letter of credit
D. It asks its bank to issue a performance bond
11. ABC Co. Ltd. has a $3 500 account receivable from XYZ Store. On March 20, XYZ makes a partial payment of $2 100 to ABC. The journal entry made on Mdrch
20 by ABC to record this transaction includes ______.
A. a debit to the cash received account of $2 100
B. a credit to the Accounts Receivable account of $2 100
C. a debit to the Cash account of $1 400
D. a debit to the Accounts Receivable account of $1 400
12. Intervention in the foreign exchange market means the government ______.
A. restricts individuals from buying and selling foreign exchange
B. restricts the importation of certain goods
C. or central bank buys or sells foreign exchange
D. devalues the currency in the foreign-exchange market
13. Which of the following is not a form of countertrade? ______.
A. Counterpurchase
B. Buy-back
C. Offset
D. Balance trade
14. A credit to a revenue account ______.
A. decreases revenues
B. increases equity
C. decreases equity
D. increases assets
15. If the government guaranteed that anyone wishing a job would be provided one, the likely result would be ______.
A. massive layoffs
B. an increase in the money supply
C. an increase in inflationary expectations
D. the development of a barter system
16. Given $100 000 to invest, what is the expected risk premium in dollars of investing in equities versus risk-free T-bills(U.S. Treasury bills) based on the
17. Economists assume that most people take risks ______.
A. because doing so is exciting
B. only when they have no riskless alternative
C. very infrequently
D. if they are compensated for taking the risks
18. The Phillips Curve shows the relationship between ______.
A. aggregate demand and aggregate supply
B. interest rates and inflation
C. recessions and booms
D. inflation and the unemployment rate
19. In a fixed exchange rate system, speculative selling of a currency is based on anticipation of .
A. appreciation
B. devaluation
C. a foreign trade surplus
D. interest rate increase
20. A collecting bank is employed by ______.
A. the principal
B. the remitting bank
C. the drawer
D. the drawee, who is its customer
21. The following statements describing net income are all correct except that ______.
A. net income is computed in the income statement, appears in the statement of owner's equity, and increases owner's equity in the balance sheet
B. net income is equal to revenues minus expenses
C. net income is computed in the income statement, appears in the statement of owner's equity, and increases the amount of cash shown in the balance sheet
D. net income can be determined using the account balances appearing in an adjusted trial balance
22. A strong dollar encourages ______.
A. travel to the United States by foreigners
B. purchase of American goods by foreigners
C. Americans to travel abroad
D. Americans to save dollars
23. In what circumstances would the beneficiary of a confirmed documentary credit not receive payment? ______.
A. Failure of the applicant
B. Failure of the issuing bank
C. Failure to fulfil the credit terms
D. Failure to fulfil the commercial contract
24. The balance in the owner's capital account of ABC Co. Ltd. at the beginning of the year was $65 000. During the year, the company earned revenue of $430 000 and incurred expenses of $360 000, the owner withdrew $50 000 in assets, and the balance of the Cash account increased by $10 000. At year-end, the company's net income and the year-end balance in the owner's capital account were, respectively .
A. $20 000 and $95 000
B. $70 000 and $95 000
C. $70 000 and $85 000
D. $60 000 and $75 000
25. Assume the inflation rate is expected to be 5 percent and the unemployment rate is 8 percent. If workers wish to get a 2 percent real wage increase, they should bargain for a money wage increase of______.
A. 3 percent
B. 5 percent
C. 7 percent
D. 13 percent
26. Which statement about portfolio diversification is correct? .
A. Proper diversification can reduce or eliminate systematic risk
B. As more securities are added to a portfolio, total risk typically would be expected to fall at a decreasing rate
C. The risk-reducing benefits of diversification do not occur meaningfully until at least 30 individual securities are included in the portfolio
D. Diversification reduces the portfolio's expected return because it reduces a portfolio's total risk
27. Y our customer is the applicant for a documentary credit. Which of the follo wing points would appear to be illogical if they appeared on the application form? ______.
A. Invoice price shown as FOB, bills of lading to be marked freight paid
B. Last date for shipment one week before expiry date
C. Invoice price shown as C&F, but no insurance document requested
D. No mention of the latest date of shipment
28. Portfolio theory as described by Markowitz is most concerned with ______.
A. the effect of diversification on portfolio risk
B. B. the elimination of systematic risk
C. active portfolio management to enhance return
D. the identification of unsystematic risk
29. Commercial bank deposits with the central bank are part of the bank's ______.
A. net worth
B. demand deposits
C. loan portfolio
D. reserves
30. Foreign trade can be conducted on the following terms except for ______.
A. open account
B. documentary collection
C. documentary credits
D. public bonds
31。risk for a security held in a diversified portfolio is ______.
A. specific risk
B. standard deviation of returns
C. reinvestment risk
D. covariance
32. The security market line depicts ______.
A. a security's expected return as a function of its systematic risk
B. the market portfolio as the optimal portfolio of risky securities
C. the relationship between a security's return and the return on an index
D. the complete portfolio as a combination of the market portfolio and the risk-free asset 33. The key factor limiting how much a commercial bank has immediately available to lend is the amount of its ______.
A. demand deposits
B. excess reserves
C. vault cash
D. savings deposits
34. A description of the current international monetary system is as follows: .
A. a free-floating system
B. all currencies are pegged ( fixed in price ) to another currency or to a basket (group) of currencies
C. some currencies are pegged and some float, but few remain fixed at the same rate for very long
D. all currencies float within an agreed upon range of one another
35. In a standard spot exchange transaction, a Thursday deal is settled on _____ if the day is a business day of banks.
A. Friday
B. Saturday
C. the following Monday
D. the following Tuesday
36. Open market operations are ______.
A. the tool used most often by the central bank
B. seldom used by the central bank
C. used more than the discount rate but not nearly as often as changes in reserve requirements by the central bank
D. used by the central bank only during inflationary periods
37. Given US interest rates at 2.00% and Japanese interest rates at 1.00% for the same period, where would the Interest Rate Parity Theory expect the USD/JPY exchange rate most likely to trend toward given a current spot exchange rate of 134.00 ? .
A. 135.00
B. 134.00
C. 132.00
D. It cannot be determined
38. On October 1, 2000, ABC Co. Ltd. loaned XYZ Store $300 000, receiving in exchange a nine-month, 12% note receivable. ABC ends its fiscal year on December 31, and makes adjusting entries to accrue interest earned on all notes receivable. The interest earned on the note receivable from XYZ during 2001 will amount to ______.
A. $9000
B. $18000
C. $27000
D. $36000
39. In terms of daily volume, ______ is the largest traded financial market in the world.
A. the stock market
B. the mutual fund market
C. the bond market
D. the foreign exchange market
40. Which of the following practices contributes to efficient cash management? ______.
A. Never borrow money—maintain a cash balance sufficient to make all necessary payments
B. Record all cash receipts and cash payments at the end of the month when reconciling the bank statements
C. Prepare monthly forecasts of planned cash receipts, payments, and anticipated cash balances up to a year in advance
D. Pay each bill as soon as the invoice arrives
41. The danger to the exporter in open account trading is that by surrending the shipping documents to the importer, he ______ control of the goods before he has obtained payment for them.
A. is in
B. loses
C. retains
D. gives up
42. The primary purpose of showing special types of events separately in the income statement is to .
A. increase earnings per share
B. minimize the income taxes paid on the results of ongoing operations
C. prevent unusual losses from recurring
D. assist users of the income statement in evaluating the profitability of normal, ongoing operations
43. If commercial banks have ample excess reserves, a lower discount rate will _______.
A. encourage them to borrow more
B. encourage them to raise interest rates on loans
C. have little impact on bank behavior
D. increase bank reserves
44. A bill of lading is a receipt for goods. When is a bill of lading issued? ______.
A. When the shipper makes up the order
B. When the carrier receives the goods
C. When the carrier delivers the goods to the consignee
D. When the manufacturer produces the goods
45. ABC Co. Ltd. sold marketable securities costing $80 000 for $92 000 cash. In the company's income statement and statement of cash flows, respectively, this will appear as ______.
A. a $12 000 gain and a $92 000 cash receipt
B. a $92 000 gain and a $80 000 cash receipt
C. a $12 000 gain and a $80 000 cash receipt
D. a $92 000 sale and a $92 000 cash receipt
46. Which of the following central bank actions would be appropriate to combat rapid inflation? .
A. A reduction in the discount rate
B. A reduction in reserve requirements
C. A cut in taxes
D. A sale of government securities
47. In a currency pair, the first currency is referred to as ______ and the second as ______.
A. the base currency…the counter currency
B. the quote currency…the base currency
C. the base currency…t he exchange currency
D. the trade currency…the base currency
48. What is the expected return of a zero-beta security? ______.
A. Market rate of return
B. Zero-rate of return
C. Risk-free rate of return
D. Negative rate of return
49. Capital asset pricing theory asserts that portfolio returns are best explained by ______.
A. economic factors
B. systematic risk
C. specific risk
D. diversification
50. The______ informs the beneficiary that another bank has issued a credit in his favor without adding its own engagement.
A. advising bank
B. confirming bank
C. drawee bank
D. issuing bank
51. The foreign exchange market is organized as ______.
A. a physical market
B. a capital market
C. a speculative market
D. over-the-counter market
52. If the central bank purchases government securities directly from a commercial bank, bank excess reserves will immediately ______.
A. fall by a multiple of the purchase
B. fall by an amount equal to the purchase
C. rise by a multiple of the purchase
D. rise by an amount equal to the purchase
53. The______ is obligated to pay the beneficiary of an irrevocable unconfirmed letter of credit.
A. account party
B. advising bank
C. confirming bank
D. issuing bank
54. Which of the following is not true? ______.
A. The British Pound is the base currency against all other global currencies
B. In the AUD/USD currency pair, the base and quote currencies are respectively AUD and USD
C. When an investor buys 20 000 EUR/USD, he is said to be buying EUR20 000 and selling the equivalent amount of USD
D. None of the above
55. What is a collection? ______.
A. A form of debt enforcement
B. A method of guaranteeing that exporters get paid
C. An international trade payment method
D. None of the above
56. When a currency pair goes from a low price to a higher price, the quote currency is said to .
A. have strengthened
B. have weakened
C. remain the same value
D. none of the above
57. Which of the following is the collecting bank's responsibility? ______.
A. Examination of the goods
B. Keeping the remitting bank fully advised of what is going on
C. Obeying the importer's instructions
D All of the above
58. According to the theory of arbitrage, ______.
A. high-beta stocks are consistently overpriced
B. low-beta stocks are consistently overpriced
C. positive alpha investment opportunities will quickly disappear
D. rational investors will pursue arbitrage consistent with their risk tolerance
59. APT differs from the single-factor CAPM because, the APT ______.
A. places more emphasis on market risk
B. minimizes the importance of diversification
C. recognizes multiple unsystematic risk factors
D. recognizes multiple systematic risk factors
60. The primary function of reserve requirements is to serve as ______.
A. a means of disciplining overly aggressive commercial banks
B. a means of reducing bank profits
C. an instrument of monetary control
D. a source of bank liquidity
61. The statement of cash flows is designed to assist users in assessing each of the following, except .
A. the ability of a company to remain solvent
B. the company's profitability
C. the major sources of cash receipts during the period
D. the reasons why net cash flows from operating activities differ from net income
62. Which of the following is a main policy tool of the central bank? ______.
A. Taxation
B. Open market operation
C. The prime rate
D. The money supply
63. Which of the following is not included in the statement of cash flows, or in a supplementary schedule accompanying the statement of cash flows? ______.
A. Disclosure of the amount of cash invested in money market funds during the accounting period
B. A reconciliation of net income to net cash flows from operating activities
C. Disclosure of investing or financing activities that did not involve cash
D. The amount of cash and cash equivalents owned by the business at the end of the accounting period
64. The yield on bank reserves is equal to ______.
A. the discount rate
B. the prime rate
C. a specific rate decided by the central bank
D. 0 percent
65. The feature of APT that offers the greatest potential advantage over the simple CAPM is the .
A. identification of anticipated changes in production, inflation, and term structure of
interest rates as key factors explaining the risk-return relationship
B. superior measurement of the risk-free rate of return over historical time periods
C. use of several factors instead of a single market index to explain the risk-return relationship
D. variability of coefficients of sensitivity to the APT factors for a given asset over time
66. In documentary collection, the exporters present the documents to ______ after the goods have been shipped.
A. the remitting bank
B. the collecting bank
C. the reimbursing bank
D. the opening bank
67. If a bank has ______ rate-sensitive liabilities than assets, a ______ in interest rates will reduce bank profits, while a ______ in interest rates will raise bank profits.
A. fewer...rise...decline
B. more... decline... rise
C. more... rise... decline
D. fewer...rise...rise
68. An L/C applicant is unhappy with the goods he receives. He is due to pay a term bill of exchange. Which of the following course of action could take place? ______.
A. He is obliged to pay as the documents were in order
B. He can instruct the issuing bank not to debit him
C. He can pay a reduced amount to compensate for the inferior goods
D. He instructs the issuing bank to return the documents with a payment refusal statement to the beneficiary
69. Which of the following would be considered a Eurodollar? .
A. A U.S. dollar in a bank outside the U.S.
B. A U.S. dollar held as an international reserve asset by a foreign central bank
C. A Federal Reserve note (a dollar bill) in the pocket of a tourist visiting Europe
D. None of the above
70. Which of the following is usually least important as a measure of short-term liquidity? .
A. Quick ratio
B. Current ratio
C. Debt ratio
D. Cash flows from operating activities
71. When the Japanese yen appreciates, then we might expect (everything else equal) that imports in Japan will ______and exports will______.
A.rise...fall
B. rise...rise
C.fall...fall
D. fall...rise
72. Which of the following statements is correct? ______.
A. A change in the discount rate usually precedes changes in reserve requirements
B. A change in the discount rate usually confirms policy changes
C. A change in the discount rate usually initiates a change in policy
D. The discount rate usually moves in the opposite direction from other interest rates
73. When borrowers know more than lenders about the future prospects of a project to be undertaken with borrowed funds, the lender faces the problem of______.
A. moral indignation
B. default risk
C. free riding
D. asymmetric information
74. If a company's current ratio declined in a year during which its quick ratio improved, which of the following is the most likely explanation? ______.
A. Inventory is declining
B. Inventory is increasing
C. Receivables are being collected more rapidly than in the past
D. Receivables are being collected more slowly than in the past
75. A stock has a beta of 0.5. What does this mean? ______.
A. The stock will fall on average by half as much as the market
B. The stock will fall and rise by twice as much as the market
C. Every time there is a price movement, the stock will rise or fall by half as much as the market
D. The stock price change will on average be half as much as the market price change
76. What does P/E Ratio stand for? .
A. Public Earnings Ratio
B. Premium Earnings Ratio
C. Price Earnings Ratio
D. Private Equity Ratio
77. If the central bank wishes to increase the level of bank reserves temporarily, it should .
A. purchase government securities outright
B. raise reserve requirements
C. buy government securities under a repurchase agreement
D. sell government securities under a reverse repurchase agreement
78. Which of the following business strategies is most likely to increase the net cash flows of a software developer in the short run but to reduce them over a longer term? ______.
A. Develop software that is more costly to create but easier to update and improve
B. Lower the price of existing versions of products as customer demand begins to fall
C. Purchase the building in which the business operates (assume the company currently rents this location)
D. Reduce expenditures for the purpose of developing new products
79. Exchange controls require the government .
A. to ensure that the foreign-exchange market is perfectly competitive
B. to stop buying foreign exchange
C. to sell more foreign exchange than it buys
D. to balance inflows and outflows of foreign exchange at the current exchange rate
analysis) will ______.
A. decline by $0.5 million
B. decline by $2.5 million
C. decline by $1.5 million
D. increase by $1.5 million
81. In documentary collection, the documents will not be delivered to the buyer until ______.
A. the goods have arrived
B. the buyer has cleared the goods
C. the bill is paid or accepted
D. the seller says so
82. In documentary credit operations, all parties concerned deal in ______.
A. credits
B. documents
C. contracts
D. goods
83. A check involves______.
A. the writer, the signer, the cashier, and the bank
B. the drawer, the payee, and the bank
C. the drawer and the payee
D. the signer, the payee, and the company
84. Assume a bank has $200 million of assets with a duration of 2, and $ 100 million of liabilities with a duration of 3. What is the duration gap for the bank? ______.
A.2
B.－1
C.0.5
D.－4
85. When a central bank allows the purchase or sale of domestic currency to have an effect on the monetary base and hence on the money supply, the intervention is said to be a/an _____ foreign exchange intervention.
A. limited
B. unlimited
C. sterilized
D. unsterilized
86. The shipper wants assurance that his goods will reach their destination. The bill of lading gives him this assurance. It thus serves as a ______.
A. contract for delivery
B. receipt for goods
C. title document
D. negotiable instrument
87. A sound policy to combat a temporary liquidity shortage in the banking system would be .
A. an increase in the discount rate
B. an increase in reserve requirements
C. a reduction in reserve requirements
D. the purchase of government securities under repurchase agreement
88. The narrowest definition of money is referred to as ______.
A. M o
B. M 1
C. M 2
D. M 3
89. Which of the following is the term used to describe the offsetting of the effects of intervention in the foreign exchange market on the domestic money supply? . A. Daily intervention B. Sterilization
C. Discretionary monetary policy
D. Discretionary fiscal policy
90. Under a fixed exchange rate system and freely flowing capital, .
A. fiscal policy is ineffective
B. monetary policy is very effective
C. the supply of money is very important
D. monetary policy is ineffective
91. Cash flows are grouped in the statement of cash flows into the following major categories: .
A. cash receipts, cash disbursements, and noncash activities
B. direct cash flows and indirect cash flows
C. operating activities, investing activities, and collecting activities
D. operating activities, investing activities, and financing activities
92. A company that is losing money will have a P/E ratio of what? ______.
A. Negative P/E
B. V ery small P/E
C. It does not have a P/E
D. None of the above
93. Suppose the average level of all prices has doubled over the last ten years. We can
come to a conclusion that ______. A. the price of money has dropped by 50 percent
B. the size of the money supply has doubled
C. the value of money has been reduced by one-half
D. the velocity of money has increased by 50 percent
94. A company with a P/E ratio higher than the market or its industry means that ______.
A. earnings are expected to grow at a slower rate than the market
B. earnings are expected to grow at a faster rate than the market
C. it will be a low risk investment
D. none of the above
95. The following rules of debit and credit in accounting are all true except that ______.
A. increases in assets are recorded on the debit side of the account
B. increases in retained surplus dividends are recorded on the debit side of the account
C. decreases in liabilities are recorded by debits
D. decreases in expenses are recorded by credits
96. The money supply should be large enough to enable the public to buy, at current prices, all______ over a given period of time.
A. the goods and services the economy has produced
B. the goods, services, and financial assets the economy has produced
C. the goods and services the economy is able to produce
D. the goods, services, and financial assets the economy is able to produce
97. When the U.S. real interest rate is low, owning U.S. assets is ______ and so U.S. net foreign investment is ______.
A. more attractive... high
B. more attractive... low
C. less attractive... high
D. less attractive... low
98. In the open-economy macroeconomic model, the quantity of dollars demanded in foreign-currency exchange market ______.
A. depends on the real exchange rate. The quantity of dollars supplied in foreign-exchange markets depends on the real interest rate
B. depends on the real interest rate. The quantity of dollars supplied in foreign-exchange markets depends on the real exchange rate
C. and the quantity of dollars supplied in the foreign-currency exchange market depend on the real exchange rate
D. and the quantity of dollars supplied in the foreign-currency exchange
99. Assume a bank with the duration gap of －1. A ______ in interest rates will ______ bank's net worth.
A. fall... reduce
B. fall... increase
C. rise. .-.reduce
D. change.. .have no effect on
100. Adverse selection is a problem associated with equity and debt contracts arising from .
A. the lenders' ability to legally require sufficient collateral to cover a 100% loss if the borrower defaults
B. the lenders' relative lack of information about the borrowers' potential returns and
risks of his investment activities
C. the borrowers' lack of incentive to seek a loan for highly risky investments
D. none of the above
金融英语证书考试
金融英语证书考试（F E C T）E x e r c i s e s-1（1） of the following is not a function of money？______。? act as a medium of exchange act as a unit of account act as a store of value provide a double coincidence of wants act as a means of payment price in the foreign exchange market is called ______。 trade surplus exchange rate money price currency rate risk refers to the risk of______。 prices fluctuations payments of the following is not among the generally accepted accounting principles？______。 basis concern measurement。 is a documentary letter of credit？______。 conditional bank undertaking to pay an exporter on production of stipulated documentation method of lending against documentary security international trade settlement system biased in favour of importers of the above a group of assets reduces risk as long as the assets ______。 perfectly correlated completely independent not have precisely the same pattern of returns a correlation coefficient greater than one amount，payable in money goods，or service，owed by a business to a creditor，is known as a/an 。 function is money serving when you buy a ticket to a movie？______。 of value medium of exchange
《金融英语》教学大纲
经济学院经济类专业课程教学大纲 金融英语 课程名称：金融英语Financial English 课程编码：012099 学分：2分 总学时：32学时 适用专业：金融学 先修课程：基础英语、金融学、货币银行学 执笔人：曾江辉 审订人：王华明 一、课程的性质、目的与任务 金融英语是金融学专业选修课程，其目的是培养学生的金融专业英语语言能力和实际运用英语处理与金融有关业务的能力。金融英语不仅具有其独特的专业词语、常用句式和文体风格,而且具有金融行业的内在知识体系,具有融思想性、知识性、技术性为一体的特征。要求此课程以现代课程理念为指导，突出学生的主体和多学科知识的综合性，突出培养学生的学习能力。Financial English is a elective courses for Finance Major, which purpose is to cultivate the students' ability of using English language of Finance professional and practical use of English to deal with related financial business. Financial English not only has the professional words, but also has sentence patterns and unique style. It has the internal knowledge system and is melted with the thought and knowledge, technology as the characteristics. The requirements of this course is provided by modern curriculum ideas as a guide, the main highlight comprehensive for students and multi-disciplinary knowledge. It emphasizes the training of students learning ability. 二、教学内容与学时分配 Chapter 1 Money (2学时) 1.1 Definition of Money 1.2 Types of Money 1.3 Functions of Money 1.4 Interest and Interest Rate 1.5 Money Supply 1.6 China's Monetary System Exercises Chapter 2 Foreign Exchange （4学时） 2.1 Definitions and Quotations 2.2 Foreign Exchange Transactions Exercises Chapter 3 Balance of Payments （4学时）
金融专业英语单词
金融专业英语单词内部编号：（YUUT-TBBY-MMUT-URRUY-UOOY-DBUYI-0128）
金融专业英语词汇大全 a flat percentage rate of income 统一比率的所得税税率 a long position 多头部位，利多形势 a long positio 多头寸；买进的期货合同 a put option on a debt security 债务证券的卖出期权 a sales slip 签购单据，售货清单 a short position 空头部位，短缺头寸 a short position 空头；卖出的期货合同 a tax return 税务申报表 abnormal depreciation 特别折旧abnormal spoilage 非 正常损坏 aboriginal cost 原始成本 acceptance bank 票 据承兑行 acceptance method 承兑方式 acceptance risks 承兑风险 accepting bank 承兑银行 accessory risks 附加保险，附加险 accident insurance 意外保险（不包括海 上，火灾和人寿险） accommodation of funds 资金融通 accompany vt. 附 带，伴随，陪同 account charges 账户费用 account current (A/C,a/c) 往来帐 户 account number (A/N) 帐号 account statement 帐户清单 accounting exposure 会计风险 accounting risks 会计风险 accounting value 帐面价值 accounts of assured 保险帐户 accrued bond interest 应计债券利息 accrued depreciation 应计折旧 accrued dividend 应计股利
2018年武汉市元月调考英语试卷及答案
2018年武汉市九年级元月调考 英语试卷 亲爱的同学，在你答题前，请认真阅读下面的注意事项： 1.本试卷由第I卷(选择题)和第Ⅱ卷(非选择题)两部分组成。全卷满分120分。考试用时120 分钟。 2.答第I卷(选择题)时，选出每小题答案后,用2B铅笔把“答题卡”上对应题目的答案标号涂 黑。如需改动，用橡皮擦干净后，再选涂其他答案。不得答在“试卷”上 3.答第Ⅱ卷(非选择题)时，答案用0.5毫米黑色笔迹签字笔书写在“答题卡”上，答在“试卷” 上无效。 4.认真阅读“答题卡”上的注意事项。 预祝你取得优异成绩 第I卷(选择题共85分) 第一部分听力部分 一、听力测试(共三节) 第一节(共5小题，每小题1分，满分5分) 听下面5个问题。每个问题后有三个答语,从题中所给的A、B、C三个选项中选出最佳选项。听完每个问题后，你都有5秒钟的时间来作答和阅读下一小题。每个问题仅读一遍。 1.A. A fine day.B. 20january.C. it's Friday. 2. A. Professor William. B. In the lecture hall. C.About animals. 3.A. It's for Frank. B. The tallest boy. C. A few friends. 4.A. On the sofa.B. With her mother. C.A small one. 5. A.Not very long B.All the classmates. C.At 2:30 p.m. 第二节(共7小题，每小题1分，满分7分) 听下面7段对话。每段对话后有一个小题,从题中所给的A、B、C三个选项中选出最佳选项。听完每段对话后，你都有10秒钟的时间来作答有关小题和阅读下一小题。每段对话仅读一遍。 6. How many picture books has the woman got? A.Four. B. Six. C. Eight. 7.What does the man ask the woman to do? A. Go home together. B. Make a call. C. Buy a ring. 8. What can we learn about Jack? A. He is seriously ill. B. He sells cars. C. He's poor at driving. 9. What does the man mean? A. He has no time. B. He has a problem. C.He promises a lift.
金融英语课程简介
金融英语 Financial English 课程编号： 课程名称：金融英语 学分： 2 学时：32 考核形式：考查 适应专业：非英语专业本科学生 内容简介： 金融英语课程以教育部颁布的《大学英语课程要求》为指导，体现实用性英语教学原则，培养学生在金融领域的英语应用能力。金融英语将金融专业知识和英语语言技 能有机结合起来，按照专题知识分类，根据ESP教学的特点、金融业务的性质和要求 以及学习者的需求和目标，设计内容丰富、难度适中、形式多样的听力理解和口语训练 任务，选取一些有代表性的文章进行文本分析，帮助学习者了解金融业务的操作流程，熟练掌握常用的金融英语表达方式。在学习英语的同时学习金融知识，了解金融英语的 语言特点，培养良好的表达能力与思辨能力。 本课程教学时数为32学时。分为8个单元，每个单元涉及一种相对独立的金融知识或业务，涉及中国金融机构、银行存款业务、财务报表、金融工具、国际结算、外汇 贸易和证券保险市场。特定的金融业务的场景以及相关话题，金融业务场景中的各种工 作人员角色对话，银行各种业务操作流程等具体的专业知识及相关的交际策略和语言技 能。 课程以特定金融业务语言环境为背景涉及学习任务，让学生把完成学习任务与执行开展某种金融业务活动结合在一起。学习任务体现了真实性和现实性，类似于自然的职 业行为和社会行为，学生在解决问题完成任务过程中能够自然而然地学习和运用金融专 业英语术语，实现学习目标。学习者在学习过程中需明确要尽可能地了解掌握更多的金 融业务基本概念和基本词汇；要反复练习以提高金融业务场景所要求的职业语言交际技 能。培养学生的金融专业英语语言能力是首要任务，学生通过网络平台对一定的教学内 容进行听力练习，并在课堂教学中将听取内容进行反馈，进行金融业务情景对话、小组 活动，个人演讲或者新闻发布及文本信息汇报等活动。有助于学习者学习和掌握如何在 不同的金融业务场景中，用英文处理相关业务，强化听力内容的理解和掌握，最终达到 提高口语表达能力的目的。在各种学习任务开展中，对金融专业知识与概念，采取学生 “自主学习”、教师“点到为止”的策略，广泛介绍但不深入讲解，以激发学生进一步 自主学习的兴趣为目的。学生通过大量的听力训练与模拟情景口语训练，熟悉相关的金 融知识与概念，学习掌握相关的专业术语表达与语言技能，提高交际能力。学习者可以 运用所学专业知识和语言技能解决金融业务中可能遇到的实际问题，获取和交流信息并 处理相关金融业务，将语言技能的培养和金融专业知识的学习有机结合，最终提高金融 英语语言运用能力。 使用教材：《金融英语听说》，陈建辉主编，外语教学与研究出版社。
金融专业英语及翻译
Opposite指“位置、方向、地位、性质、意义等对立的、相反的”, 如: 如: “True” and “ false ” have opposite meanings. “真”与“假”有着相反的意思。 Contrary指“两物朝相反的方向发展”, 含有“互相冲突, 不一致”的意思, 如: Your plan is contrary to mine. 你的计划与我的相反。 Inverse 颠倒的；倒数的 Evil is the inverse of good. Reverse 反过来，翻转 He reversed the car. 他倒车. 教育类 素质教育 education for all-round development 应试教育 the examination-oriented education 义务教育 compulsory education 片面追求升学率 place undue emphasis on the proportion of students' entering school of a higher level 高分低能 good scores but low qualities 扩招 expand enrollment 教书育人 impart knowledge and educate people 因材施教 teach students according to their aptitude 提高身心素质 improve the health and psychological quality 大学生创业 the university students' innovative undertaking 社会实践 social practice 文凭 diplomas and certificates 复合型人才 interdisciplinary talents 文化底蕴 the rich cultural deposits 适应社会的改变 adjust to the social changes 满足社会的急需 meet the urgent needs the society 工作类 人才流动和双向选择 talent flow and a dual-way selection 试用期 probationary period 跳槽 job-hopping 自由职业 freelance work 拜金主义 money worship 获得名利 achieve fame and wealth 充分发挥个人的潜力 develop fully one's potential and creativity 工作出色 excel in one's work 社会和个人的尊重 social and personal esteem 生计问题 a bread and butter issue 人才交流 talents exchange 培养人才 cultivate talents 人才外流 brain drain 失业问题 unemployment problems 下岗职工 the laid-off workers 自谋生路 be self-employed 劳动力短缺 shortage of manpower 医药卫生类 卫生环境 sanitary environment 营养不良 malnutrition
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