[外语类试卷]现代金融业务（综合）模拟试卷8及答案与解析.doc

1、现代金融业务（综合）模拟试卷 8及答案与解析 单句理解 （ A） People can draw the money on CDs whenever they want. （ B） People can sell their CDs in the money market whenever they want. （ C） A CD is a demand deposit as opposed to a term security. （ D） CDs dont have a specified maturity date. （ A） The Bank of China is not a stat

2、e-owned enterprise. （ B） The Bank of China is a foreign exchange bank. （ C） The Bank of China is not a foreign exchange bank. （ D） The Bank of China is not very important. （ A） The amount on the cheque is larger than in the account. （ B） The car can be covered with your cheque. （ C） The cheque you w

3、rote can not cover the car. （ D） The amount on your cheque is just that in your account. （ A） The bank must take the purpose of loan into consideration carefully. （ B） The bank wonders if the loan is used for illegal or speculative purpose. （ C） The bank worries that the loan is used for illegal or

4、speculative purpose. （ D） The bank must consider a way for the loan to be used for speculative purpose. （ A） The discount rate and the stock prices move in the same direction. （ B） The discount rate and the stock prices move in the adverse directions. （ C） When the Fed raises stock prices, the disco

5、unt rate is likely to move downward. （ D） When the Fed lowers stock prices, the discount rate tends to rise. （ A） They will write to their home. （ B） They will write to their headquarter. （ C） They will ask for their rights. （ D） They will wait for an officer. （ A） If a shareholder owns more shares,

6、 he can receive more cash dividends. （ B） Cash dividends are paid to each shareholder on the date of declaration. （ C） The number of shares has little impact on cash dividends paid to each shareholder. （ D） Cash dividends will be paid from the proceeds of the share issuance. （ A） The banks have an i

7、ncalculable liability under the documentary credit revolving in value. （ B） The banks prefer to issue the documentary credit revolving in value. （ C） The buyer has less liability under the documentary credit revolving in value. （ D） The banks are involved in less liability by issuing the documentary

8、 credit revolving in value. （ A） If future contracts are standardized, brokers would not assess contract specifications. （ B） As long as future contracts are standardized, floor trading would be made slow accordingly for brokers to evaluate contract specifications. （ C） Whether future contracts are

9、standardized or not, floor trading will not be influenced. （ D） Futures contracts must be standardized, otherwise, floor trading would be made very slowly since specifications of each contract would be assessed. （ A） We paid you early as required. （ B） Your documents came to us as required. （ C） You

10、r documents have been correctly presented as required. （ D） You did not present the documents as required. 对话理解 （ A） Thus she can know the most appropriate investment and the best time of investment. （ B） Thus she can earn a lot of money. （ C） Thus she can help others. （ D） Thus she can know about h

11、ow much money she has. （ A） Have an account. （ B） Draw on this branch. （ C） Cash a check. （ D） Something personal. （ A） Time deposit. （ B） Savings account. （ C） Current account. （ D） Instant savings account. （ A） About long-term relationship between the banker and the client. （ B） About long-term lo

12、ans. （ C） About housing loans. （ D） About short-term loans. （ A） Husband and wife. （ B） Teacher and student. （ C） Banker and his customer. （ D） Employer and employee. （ A） The performance of a company. （ B） The financial statements. （ C） The detailed information. （ D） An extensive annual report. （ A

13、） Credit card. （ B） Passport. （ C） Travelers cheques. （ D） . .card. （ A） The drawee bank will refuse to pay the draft. （ B） The drawee bank will issue another draft to the customer. （ C） The drawee bank will investigate into the case first. （ D） The drawee bank will pay the draft immediately. （ A） I

14、t is to transfer the contract from bank to customer. （ B） It is to transfer the payment obligation from buyer to seller through banks. （ C） It is to transfer the confirmation from the issuing bank to confirming bank. （ D） It is to transfer the documents from advising bank to issuing bank. （ A） They

15、are convenient. （ B） They are advanced in technology. （ C） They are cumbersome. （ D） They are computerized. 短文理解 （ A） almost the same one （ B） rather different （ C） a little different （ D） doesnt mention （ A） The issuing bank will charge a fee for giving a standby credit letter. （ B） The issuing ban

16、k will charge no fees for giving a standby credit letter. （ C） The issuing bank will amend the standby credit letter if appropriate. （ D） The issuing bank will revoke the standby credit letter if appropriate. （ A） The service fee is about 1 percent of the amount of credit involved. （ B） Its almost i

17、mpossible for the issuer to honor the payment after analyzing the financial condition of the customer. （ C） The issuing banks must carry reserve requirements for the guarantee. （ D） The issuer of the credit guarantee will never be called upon to make payment. （ A） The money markets. （ B） The banks.

18、（ C） The international trade. （ D） The buying of goods in the markets. （ A） 13 days （ B） 30 days （ C） 33 days （ D） 23 days （ A） He can send the draft to the correspondent bank for immediate payment. （ B） He can present it to the bank against which it is drawn for payment. （ C） He can ask the buyer t

19、o pay the money. （ D） He can discount the draft at his bank and get money immediately. （ A） bill of lading （ B） documentary letter （ C） letter of credit （ D） insurance document （ A） Dollar against Pound （ B） document against payment （ C） delivery after payment （ D） dollar in payment （ A） By paying o

20、r accepting the bill of exchange. （ B） By paying in cash. （ C） By opening a letter of credit. （ D） By showing the bill of lading. （ A） the exporter （ B） the importer （ C） the exporters bank （ D） the importers bank 一、单项选择题 31 What is a documentary letter of credit? （ A） A conditional bank undertaking

21、 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 favor of importers. （ D） All of the above. 32 Which of the following statements is false about zero-coupon bonds? （ A） They wi

22、ll make a single cash payment at maturity. （ B） They are issued at a discount. （ C） They will make one single coupon 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

23、） budgetary, policy 34 In a letter of credit transaction, the bank pays the seller against _ which agree (s) with _. （ 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

24、 whether partial shipments are allowed. Which of the following statements is applicable? （ A） They are 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-r

25、ate bond （ C） a blue-chip bond （ D） a junk bond 37 Treasury bills are issued _. （ A） by the government 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 bo

26、rrowing needs are larger than its forward commitment capacity, the IMF will _. （ A） call for new quotas from 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 u

27、ndue fluctuation in the exchange value of sterling against other currencies （ B） ensure that notes and coins 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 fi

28、rms _. （ A） balance sheet （ B） profit and loss account （ C） current account （ D） deposit account 二、完形填空 40 Insurance policies usually contain a (56) clause that excludes a fixed amount of the loss from (57) Casualty insurance policies frequently contain a coinsurance clause in the contract. A coinsu

29、rance clause provides that the insurance company shall be liable (58) only a portion of any loss (59) by the insured unless the insured carries insurance which totals a certain percent, frequently 80-90 percent of the fair value of the asset. In the (60) of a loss, the insured recovers from the insu

30、rance company that portion of the loss which the face of the insurance policy bears to the amount of insurance that should be carried as required by the coinsurance clause. （ A） deductible （ B） exemptible （ C） expectable （ D） escapable （ A） gain （ B） income （ C） recovery （ D） expense （ A） to （ B） wi

31、th （ C） in （ D） for （ A） sustained （ B） supported （ C） tolerated （ D） maintained （ A） light （ B） teeth （ C） event （ D） pay 45 Commercial paper may either be dealer placed or directly placed. If it is dealer placed, the (61) sells its promissory notes to one of the ten-regular commercial paper dealer

32、s, which, in turn, sells it to others. If commercial paper is directly placed, the issuing corporation sells its notes directly in the market, without the intermediation of the (62) . This is the method used primarily by sales-finance companies because they (63) in the market on a virtually continuo

33、us basis. Sales-finance companies are companies that supply the credit for the installment purchase of major (64) items, for example, automobiles, refrigerators, and television sets. These companies find the commercial paper (65) particularly well suited to their needs since it enables them to adjus

34、t to swings in demand for installment purchases. （ A） issuing corporation （ B） seller （ C） dealer （ D） issuing bank （ A） merchant （ B） company （ C） middleman dealer （ D） bank （ A） sell （ B） participate （ C） supply （ D） issue （ A） capital （ B） imported （ C） exported （ D） consumer （ A） notes （ B） mark

35、et （ C） dealers （ D） issuers 三、判断正误 50 Besides a current or spot price for currencies (or monies) and spot markets, there are futures markets, where futures ( or forward) prices are determined by buying and selling futures contracts. Also, a large volume of forward contracts is made directly between

36、 participants in the foreign exchange markets. Spot transactions require the exchange of deposits by two days after the date of the contract. Forward transactions require an exchange of deposits at specified longer maturities on the forward contract. There are standardized maturities of three months

37、, six months, and one year, and on major currencies, longer contracts are sometimes available. Banks, acting as financial intermediaries, make available forward contracts tailored exactly to their customers needs, such as 46-day maturity. If the spot price is below the forward price, the currency is

38、 said to be at a forward premium. If the spot price is above the forward price, the currency is said to be at a forward discount. Both spot and forward markets for currencies are subject to control and intervention by governments. The governments may step in to support their domestic currency by buy

39、ing it. They may impose exchange controls on the repatriation of profits or interest payments. The risk of loss in forward contracts because of these latter controls can be called sovereign risk. Thus spot and forward markets can suffer from imperfections. The evidence, however, generally tends to s

40、upport the hypothesis that these markets are approximately efficient, especially the offshore foreign exchange markets that are free of government controls. 51 A great number of forward contracts are made directly between people who take part in the foreign exchange markets. （ A） Right （ B） Wrong （

41、C） Doesnt say 52 The payments for either spot transactions or forward transactions must be made by transferring deposits. （ A） Right （ B） Wrong （ C） Doesnt say 53 As financial intermediaries, banks can make the maturities of forward contracts infinitely long if their customers expect. （ A） Right （ B

42、） Wrong （ C） Doesnt say 54 If any government imposes exchange control on the repatriation of profits, there will be sovereign risk. （ A） Right （ B） Wrong （ C） Doesnt say 54 The law and FDICs ( the Federal Deposit Insurance Corporation) regulations, which apply to all state member banks and bank hold

43、ing companies, reinforce the Federal Reserves longstanding policy that an institution-affiliated party who engages in misconduct should not be insulated from the consequences of his or her misconduct. From a safety and soundness perspective, a state member bank or bank holding company should not div

44、ert its assets to pay a line or other final judgment issued against an institution-affiliated party for misconduct that presumably violates the institutions policy of compliance with applicable law, especially in cases where the individuals misconduct has already harmed the institution. Although sta

45、te corporate laws may allow a company to adopt by-laws indemnifying its institution affiliated parties, any indemnification provisions or agreements adopted by a state member bank or bank holding company must comply with federal law and the FDICs regulations concerning indemnification. 55 A state me

46、mber bank should not pay a fine or other final judgment issued against an institution-affiliated party for misconduct. （ A） Right （ B） Wrong （ C） Doesnt say 56 The federal law and the FDICs regulations have the same power of financial supervision. （ A） Right （ B） Wrong （ C） Doesnt say 57 It is an in

47、stitution affiliated party who engages in misconduct that should be responsible consequences of his or her misconduct. （ A） Right （ B） Wrong （ C） Doesnt say 57 Forming a corporation is more costly than starting a sole proprietorship. The cost may include, for example, attorneys fees, incorporation f

48、ees paid to the state, and other outlays necessary to bring the corporation into existence. These costs are charged to an asset account entitled organization costs. In the balance sheet, organization costs appear under the other assets caption. Conceptually, organization costs are an intangible asse

49、t that will benefit the corporation over its entire life. But as a practical matter, most corporations amortize this asset to expense over a period of only 5 years, as allowed under income tax regulations. Because the amortization of organization costs usually is immaterial in dollar amount, this convenient treatment is justified by the accounting principle of materiality. 58 Organization costs are belong to assets. （ A） Right （ B） Wrong （ C） Doesnt say 59 Organization costs must be amortized into expenses with