[外语类试卷]现代金融业务（综合）模拟试卷13及答案与解析.doc

1、现代金融业务（综合）模拟试卷 13及答案与解析 单句理解 （ A） Sometimes the interest rates on time deposits are not fixed. （ B） People can draw these deposits at any time. （ C） The interest rates on time deposits are fixed. （ D） The interest rates on time deposits are floating. （ A） The objective of financial reporting is to p

2、rovide information useful for making investment and lending decisions. （ B） The financial reporting is useless. （ C） The financial reporting cant help people to decide whether they invest on something or not. （ D） The financial reporting has no objectives. （ A） Some borrowers are engaged in undesira

3、ble activities which are considered immoral. （ B） Some lenders are engaged in undesirable activities which are considered immoral. （ C） Most borrowers dont engage in activities that are undesirable or immoral. （ D） Most lenders don t engage in activities that are undesirable or immoral. （ A） An irre

4、vocable L/C can not be committed to amendment. （ B） An irrevocable L/C can not be cancelled without permission. （ C） An irrevocable L/C can not be cancelled or amended. （ D） Neither cancellation nor amendment without permission can be made to the irrevocable L/C （ A） The paying bank sends the check

5、to the remitting bank for repayment. （ B） The remitting bank sends the check to the paying bank for repayment. （ C） The collecting bank sends the check to the remitting bank for repayment. （ D） The remitting bank sends the check to the collecting bank for repayment. （ A） The shareholders are the own

6、ers of limited companies. （ B） Shareholders deposit their money in the limited companies. （ C） The shareholders can sell shares of limited companies to the public. （ D） Shareholders of limited companies are able to make profits continuously. （ A） A forward transaction is done on a future date. （ B）

7、A forward purchase is to buy foreign currency in future. （ C） A forward purchase is to buy a foreign currency with settlement on a future date. （ D） A forward transaction is to buy a foreign currency on future date. （ A） Banks make money in foreign exchange business because of profit margin. （ B） Ba

8、nks make money from the price spread in the foreign exchange market. （ C） Banks make money in foreign exchange business on profit as well as on volume. （ D） Banks make money in foreign exchange business because of the great volume. （ A） The company is a sun-rising firm so it is worthwhile to extend

9、the loan. （ B） The company has some accounting problems, some improvement is needed. （ C） The company is short of funds because it is sun-rising. （ D） The company has some accounting problems because it is sun-rising. （ A） A curreucy swap is a better way to convert the long-term transaction into a s

10、pot transaction. （ B） A currency swap makes long-term transaction exposure to exchange rate fluctuations. （ C） A currency swap is a better way to reduce the risks of the long-term transactions owing to the exchange rate fluctuations. （ D） A currency swap can in no way reduce the risk of exchange rat

11、e fluctuations. 对话理解 （ A） Sight deposits. （ B） Certificates of deposit. （ C） Time deposits. （ D） Savings deposits. （ A） Expanding business. （ B） Maintaining the stability of currency. （ C） Decreasing economic growth. （ D） Supervising the banking system. （ A） To make a decision quickly. （ B） To make

12、friends with the customer. （ C） To know the position of the customer. （ D） To examine the details of the financial statements. （ A） 2,000 francs. （ B） 20,000 francs. （ C） 472 francs. （ D） 472. 20 francs. （ A） To serve as a source of last resort. （ B） To be one of the major objectives. （ C） To transf

13、er depositors funds from one bank to another. （ D） To borrow emergency funds from the Fed. （ A） One day. （ B） One month. （ C） One week. （ D） One year. （ A） From 9: 00 a. m. to 6: 00 p. m. （ B） From 9: 00 a. m. to 4: 00 p. m. （ C） From 9: 00 a. m. to 12: 00 a. m. or 1: 30 to 4: 00 p. m. （ D） From 9:

14、00 a. m. to 11: 30 a. m. or 1: 00 to 4: 30 p. m. （ A） To rewrite his signature. （ B） To make a special endorsement. （ C） To order another person to pay the cheque. （ D） To give an order to the bank to collect the cheque. （ A） No interest is charged. （ B） The documents cannot be negotiated. （ C） No s

15、tamp duty is paid. （ D） Deferred Payment is on a “without recourse“ basis. （ A） The credit line will be lower than usual. （ B） The credit line will be higher than usual. （ C） The credit line will be as usual. （ D） The credit line will be indefinite. 短文理解 （ A） With little concern. （ B） With calm. （ C

16、） With great interest. （ D） With confusion. （ A） 99.40 yen. （ B） 97.46 yen. （ C） 99.01 yen. （ D） 96. 82 yen. （ A） Share price. （ B） High-tech stocks. （ C） Japanese yen. （ D） Most of the stocks. （ A） Business development loans. （ B） House improvement loans. （ C） Farm development loans. （ D） Overdraft

17、s. （ A） Secured loans. （ B） Unsecured loans. （ C） Business development loans. （ D） House improvement loans. （ A） By taking up the full amount of the loan. （ B） By borrowing more. （ C） By stopping borrowing. （ D） By reducing his indebtedness. （ A） To allow personal customers to spread the incidence o

18、f normal personal and household expenditure. （ B） To make the payment of fuel bills, rates, season tickets. （ C） To pay car insurance and school fees by installments. （ D） To transfer some amount by twelve equal monthly installments. （ A） 2. （ B） 5. （ C） 4 （ D） 3 （ A） Certificates of deposit. （ B） D

19、eposit account. （ C） Current account. （ D） Both B and C （ A） 3.55%. （ B） 1.5%. （ C） 3.5%. （ D） 3.75%. 一、单项选择题 31 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 secu

20、rity. （ C） An international trade settlement system biased in favor of importers. （ D） All of the above. 32 Which of the following statements is false about zero-coupon bonds? （ A） They will make a single cash payment at maturity. （ B） They are issued at a discount. （ C） They will make one single co

21、upon payment at maturity. （ D） all of the above. 33 Regulation of the money supply and financial markets is referred to as_. （ A） fiscal policy （ B） income policy （ C） monetary policy （ D） budgetary policy 34 In a letter of credit transaction, the bank pays the seller against _which agree(s) with_.

22、（ A） documents. . . the credit （ B） merchandise. . . the contract （ C） documents. . . the contract （ D） merchandise. . . the buyer ordered 35 A documentary credit is received without a stipulation of whether partial shipments are allowed. Which of the following statements is applicable? （ A） They ar

23、e allowed. （ B） Refer to the issuing bank. （ C） Refer to the beneficiary. （ D） They are prohibited. 36 A bond with an adjustable interest payment is termed_. （ A） a fixed-rate bond （ B） a floating-rate bond （ C） a blue-chip bond （ D） a junk bond 37 Treasury bills are issued_. （ A） by the government

24、to raise funds from the community （ B） with terms of 3 months, 6 months, 9 months and 1 year （ C） with coupons attached to them （ D） with a price higher than the face value 38 If the IMF members borrowing needs are larger than its forward commitment capacity,the IMF will_. （ A） call for new quotas f

25、rom its members （ B） call for New Arrangements to Borrow （ C） sell gold to finance excessive needs （ D） do repos 39 The main objective of the Exchange Equalization Account is to_. （ A） prevent undue fluctuation in the exchange value of sterling against other currencies （ B） ensure that notes and coi

26、ns continue to be acceptable as a medium of exchange （ C） control the rate of inflation （ D） permit the exchange of payments between banks 40 Interest on a bank overdraft will be charged to a firm s_. （ A） balance sheet （ B） profit and loss account （ C） current account （ D） deposit account 二、完形填空 40

27、 Liquidity risk arises from the inability of a bank to accommodate unexpected decreases in【 56】 or to fund increases in【 57】 When a bank has【 58】 liquidity, it cannot obtain sufficient funds, either by increasing liabilities or by【 59】 assets promptly, at a reasonable cost, thereby affecting profita

28、bility. In extreme cases, insufficient liquidity can lead to the【 60】 of a bank. 41 【 56】 （ A） liabilities （ B） assets （ C） sufficiency （ D） supply 42 【 57】 （ A） liabilities （ B） assets （ C） efficiency （ D） profitability 43 【 58】 （ A） adequate （ B） inadequate （ C） accurate （ D） inaccurate 44 【 59】 （

29、 A） changing （ B） exchanging （ C） converting （ D） turning 45 【 60】 （ A） efficiency （ B） ability （ C） solvency （ D） insolvency 45 The Securities Exchange Act of 1936 established the Securities and Exchange【 61】 (SEC)and gave it authority【 62】 the securities markets. All brokers and dealers doing busi

30、ness in the organized markets must register【 63】 the SEC. A broker assists the trading process by buying or selling securities in the market for a(n)【 64】 A dealer satisfies investors trades by buying and selling securities from his own inventory. In addition, attempts to【 65】 securities prices were

31、 declared illegal. 46 【 61】 （ A） Committee （ B） Commission （ C） Congress （ D） Convention 47 【 62】 （ A） over （ B） on （ C） above （ D） for 48 【 63】 （ A） in （ B） on （ C） with （ D） from 49 【 64】 （ A） buyer （ B） seller （ C） investor （ D） producer 50 【 65】 （ A） manipulate （ B） control （ C） adjust （ D） foll

32、ow 三、判断正误 50 The market for large business certificates of deposit or negotiable certificates of deposit(CDs)in denominations of $ 100,000 or more has been active since 1961. It is a money market specializing in the sale of Marketable, interest-yielding deposit certificates with specified maturity d

33、ates, issued by four types of financial intermediaries. Domestic CDs are issued by US banks. Dollar-denominated CDs issued by banks outside the United States are called Euro CDs. The CDs issued by US branches of foreign banks are called Yankee CDs. Thrift CDs are the name used to designates CDs issu

34、ed by domestic thrifts. The holder of a CD who wishes to exchange it for money before its maturity date will ask a money market participant(often a commercial bank)to arrange a sale through a specialized dealer. There is an active secondary market in CDs centered in New York. There are approximately

35、 25 dealers in CDs. The CD is an instrument that allows the depository intermediaries to raise funds at competitive market rates. It is called one of their managed liabilities. Since they loan out funds at their lending rates, they would normally keep their advertised prime rate above the CD rate. A

36、s noted previously, the prime rate formula that had been used by Citibank set the prime one-and-a-half percentage points above the previous three-week average of 90-day(3-month)CDs sold in the secondary market. The yield on 3-month CDs is usually higher than 3-month Treasury bills. Treasury bills ha

37、ve a lower default risk and exempt from state and local tax. This may explain the extent of the spread. 51 Euro CDs are the negotiable certificates of deposit denominated in European currencies issued by American banks outside the United States. （ A） Right （ B） Wrong （ C） Doesnt say 52 CDs may be ex

38、changed for money before its maturity date either in money markets or at commercial banks. （ A） Right （ B） Wrong （ C） Doesnt say 53 The reason why the market for large CDs has been active since 1961 may be that the yield is u-sually higher than Treasury bills. （ A） Right （ B） Wrong （ C） Doesnt say 5

39、3 The primary justification for banking supervision is to limit the risk of loss to depositors, and by so doing to maintain public confidence in banks. And while supervision naturally focuses on the individual bank, supervisors must also be alert to the possibility that problems in one institution m

40、ay have wider, systemic repercussions on others, or on the integrity of the payments system. 54 Supervisors have the obligation to save a failing bank. （ A） Right （ B） Wrong （ C） Doesnt say 55 Supervisors usually pay more attention to the individual bank. （ A） Right （ B） Wrong （ C） Doesnt say 56 A s

41、ound bank will not suffer from the bankruptcy of other unrelated banks. （ A） Right （ B） Wrong （ C） Doesnt say 56 To finance the national debt, the government issues a variety of debt securities. The most widely held liquid security is the Treasury bill, which is commonly issued by the ministry of fi

42、nance. However, some Treasury bills, like the Treasury bill of the U. S. government, do not actually pay interest. Instead they are issued at a discount from par(their value at maturity). The investor s yield comes from the increase in the value of the security between the time it was purchased and

43、the time it matures. Treasury bills are attractive to investors because they are backed by the government and therefore are virtually free of default risk. Because 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

44、inflation is also low because of the short term to maturity. The markets for Treasury bills in most developed countries are deep and liquid. A deep market is one with many different buyers and sellers. A liquid market is one in which securities can be bought and sold quickly and with low transaction

45、 costs. Investors in markets that are deep and liquid have little risk that they will not be able to sell their securities when they want to. 57 Treasury bills are short-term and virtually free of default risk. （ A） Right （ B） Wrong （ C） Doesnt say 58 As some treasury bills do not actually pay inter

46、est, they are not attractive to investors. （ A） Right （ B） Wrong （ C） Doesnt say 59 The markets for treasury bills in most developed countries have many different buyers and sellers. （ A） Right （ B） Wrong （ C） Doesnt say 60 Investors in deep and liquid markets face immense risk that they will not be

47、 able to sell their securities when they want to. （ A） Right （ B） Wrong （ C） Doesnt say 四、阅读理解 60 Banking organizations are highly geared, much more than commercial or industrial companies. They have custody of large volume of monetary items, which makes them vulnerable to misappropriation and fraud

48、. They therefore need to establish formal operating procedures, well defined limits for individual discretion rigorous system of internal control. Banking organizations engage in a large volume and variety of transactions. This necessarily requires complex accounting and internal control system and

49、widespread use of electronic data processing. Banking organizations often assume significant commitments without any transfer of funds. These items may not involve accounting entries and consequently the failure to record such items may be difficult to detect. And most importantly, the failure of a bank, unlike most commercial firms, affects more than the fortunes of its shareholders and creditors, and may destabilize the whole economy. Effective supervision of banking organizations is an essential component of a strong econ