1、初级银行综合类模拟试卷 1及答案与解析 一、单项选择 1 The Peoples Bank of China shall _ and exercise supervision and control over the financial industry under the leadership of the State Council. （ A） formulate and implement monetary policies （ B） invent and use monetary policies （ C） provide and harness monetary policies （
2、 D） create and apply monetary policies 2 Owners equity is measured by subtracting liabilities from assets. This sentence can be described as the following equation _. （ A） ASSETS - LIABILITIES + OWNERS EQUITY （ B） ASSETS - LIABILITIES = OWNERS EQUITY （ C） OWNERS EQUITY = ASSETS + LIABILITIES （ D） OW
3、NERS EQUITY = LIABILITIES - ASSETS 3 _ are assets that are expected to be converted to cash, sold, or consumed during the next 12 months or within the businesss normal operating cycle if longer than a year. （ A） Long - term assets （ B） Long - term liabilities （ C） Current liabilities （ D） Current as
4、sets 4 The interdependence between Chinas economy and the world economy _ significantly. （ A） deeped （ B） deepened （ C） dependent （ D） depends 5 Securities subject to mortgage are _. （ A） deeds, fire policies, and stocks and shares and other chooses in action （ B） title deeds, fire policies, and equ
5、ities and other chooses in action （ C） title deeds, life policies, and stocks and shares and other chooses in action （ D） title deeds, life policies, and equities and other chooses in action 6 Financial markets can be classified as _. （ A） debt and equity markets （ B） primary and secondary markets （
6、 C） money and capital markets （ D） all of tile above 7 The primary source of funds of fire and casualty insurance companies includes _. （ A） savings deposits （ B） premiums from policies （ C） commercial paper, stocks and bonds （ D） all of the above 8 Another name for junk bonds is _. （ A） high- yield
7、 securities （ B） non- investment grade securities （ C） speculative investment securities （ D） any of the above 9 What does IPO stand for? （ A） Initial Pact Organization （ B） Initial Public Offering （ C） International Public Offering （ D） Intellectual Property Organization 10 A repurchase agreement i
8、s a transaction in which _. （ A） a lender agrees to buy back securities at a specified future date at a predetermined price （ B） a borrower agrees to buy back securities at a specified future date at a predetermined price （ C） a borrower agrees to sell back securities at a specified future date at a
9、 predetermined price （ D） none of the above 二、完型填空 10 Liquidity risk arises from the inability of a bank to accommodate unexpected decreases in【 21】 or to fund increases in【 22】 . When a bank has【 23】 liquidity, it cannot obtain sufficient funds, either by increasing liabilities or by【 24】 assets pr
10、omptly, at a reasonable cost, thereby affecting profitability. In extreme cases, insufficient liquidity cam lead to the【 25】 of a bank. 15 China will continue to pursue a【 26】 monetary policy, and seek refinements in the conduct of monetary policy by relying on【 27】 policy instruments. First, open m
11、arket operation will be expanded, and the quality of the relevant decision - making will be improved to【 28】 the timing and scale of open market transactions. Transaction frequency will be【 29】 and fine -tuning measures will be taken as the occasion warrants. Flexibility will be exercised in selecti
12、ng modes of transaction so give further play to the open market in guiding【 30】 interest rates. 三、阅读理解 20 Who can spot the risks? The grand circle that regulators have to square is this: how to establish a framework of regulation that accommodates the characteristics of the traditional specialised b
13、anking system and mark it off from other businesses. With the sort of diversified financial services that are actually evolving, the era of strictly compartmentalised financial institutions is passing, leaving the regulatory system designed to match it looking increasingly out of date. A single omni
14、potent, omniscient regulator for all financial services remains dream. Many say it will stay that way, pointing out how long it took to get agreement just on rudimentary international rules for the capital adequacy of banks. Yet regulators everywhere acknowledge the need to cooperate more closely wi
15、th their opposite numbers across industrial and geographical boundaries. They also agree that greater harmonisation of regulatory standards on everything from reporting requirements to risk assessment will come surely, if slowly. Much of that is likely to be mere tidying up. A good place to start in
16、 America would be scrapping the separate regulation of thrifts, If they have been there is little reason not to regulate them as banks (and especially given the mess thrift regulators have made of the job) . It is what Japan has sensibly done by making its equivalent of thrifts, so go banks, choose
17、to be either credit unions or to become commercial banks. Britain, too, has let those of its building societies with ambitions to be banks, and to be regulated as such. These are moves in another right direction to switch away from regulation by institution, as mostly happens now, to regulation by f
18、unction. This means that regulation becomes a matter of supervising what is done rather than who does it. Unsystematic deregulation has brought the system to its present ugly pass. This has left an increasing number of competitive anomalies. Much of the pressure for, and resistance to, further chang
19、e comes from those institutions that wish to alleviate or entrench their market disadvantage. In both America and Japan, the debates about reforming the domestic financial systems, and in particular about updating Glass - Steagall and Article 65 respectively, have been slowed by political horse - tr
20、ading. This is making worse a situation in which competition is keeping the prices of many financial services artificially low and capacity artificially great in a way that cannot be sustained for long. Systemic risk gets greater, not less, the longer the system is skewed. The point is long past at
21、which regulators might have been able to force market practices back into the old regulatory framework. The global competitive and technological forces against them are too powerful. Neither is the option of turning back the clock through re - regulation feasible, and few regulators show signs eithe
22、r of wanting to undertake such a course, or of having the stomach for the political fight it would entail. Even in Japan, where regulators hold a sway over their industries that their counterparts in Europe and America can only envy, and where the financial system is being emerging new economy. This
23、 is being done with the grain of market forces, not against it. 21 Which “circle“ do “the regulators have to square“ according to paragraph 1? （ A） To create a regulatory system that controls banks tightly enough. （ B） To create a regulatory system that treats banks exactly like other financial inst
24、itutions. （ C） To create a regulatory system which limits financial innovations. （ D） To create a regulatory system which provides a special position for banks. 22 Which of the following sentences do you think is the first sentence of Paragraph 3? （ A） The history of attempted bank regulation extend
25、s far back to the early days of the foundation of the Bank of England. （ B） Bankers in America are complaining that proposed deregulation of financial institutions there will open the way to increase foreign competition. （ C） Nonetheless, few foresee anything but the most limited merging of existing
26、 regulatory agencies, even within single countries. （ D） Japans central bank has just announced liberalised arrangements for banks wishing to raise more capital. 23 The first sentence of the next paragraph is “Unsystematic deregulation has brought the sys- tem to its present ugly pass.“ You think th
27、e main topic of this paragraph will be: （ A） a description of the faults of the present system. （ B） a description of the positive points of the present system. （ C） a description of the future changes in the system. （ D） a description of the regulations controlling insurance companies. 24 Which of
28、the following are mentioned in Paragraph 5 as being problems in the present sys- tem? （ A） Prices are too high and capacity too low. （ B） Change is being stopped by vested interests. （ C） Politics are preventing reform in some countries. （ D） Risk is decreasing by keeping the present system. 24 Type
29、s of risks So far we have used the term “risk“ rather loosely. One type of risk is default risk, that is, the risk that the borrower will simply not repay the loan, due to either dishonesty or plain inability to do so. Another type of risk, called purchasing - power risk, is the risk that, due to an
30、 unexpectedly high inflation rate, the future interest payments, and the principal of the loan when finally repaid, will have less purchasing power than the lender anticipated at the time the loan was made. A similar risk is faced by borrowers. A borrower may cheerfully agree to pay, say, 15 percent
31、 interest, expecting that a 12 percent inflation rate will reduce the real value of the loan. But inflation may be only 4 percent. A third type of risk is called “interest - rate risk“ or “market risk“, that is, the risk that the market value of a security will fall because interest rates will rise.
32、 We will discuss this further later; here we just present the intuitive idea. Suppose that five years ago you bought a ten-year 1 000 bond carrying a 6 percent interest rate, and tile interest rate now obtainable on similar bonds also have five years to go until they mature is 8 percent. Would anyon
33、e pay 1 000 for your bond? Surely not, because they could earn 80 per year by buying a new bond, and only 60 per year by buying your bond. Hence, to sell your bond you would have to reduce its price. But suppose the bond, instead of having five years to maturity, would mature in, say, ninety days, w
34、hat would its price be then? It would still be less than 1 000 since the buyer would get 6 percent instead of 8 percent interest for ninety days; but since getting a lower interest sell for only ninety days does not involve much of a loss, the bond would sell for something close to 1 000. Hence, whi
35、le holding any security with a fixed interest rate involves some interest - rate risk, the closer to maturity a security is, the lower is this risk. On the other hand, if interest rates fall you gain because your bond is worth more; and the longer the time until the bond matures, the greater is your
36、 gain. But the fact that you may gain as well as lose does not mean that you are taking no risk. Diversification All three types of risks are relevant for deciding what assets to include in a portfolio, and what debts to have outstanding. (The term portfolio means the collection of assets one owns.)
37、 Anyone holding more than one type of asset has to consider not the risk of each asset taken by itself, but the totality of the risk on various assets and debts jointly. Suppose someone holds stock in a company that is likely to gain from inflation. The riskiness of a portfolio that combines both of
38、 these stocks may be less than the riskiness of each stock taken separately. A port- folio consisting of assets that are affected in opposite directions by given future events is less risky than are the assets that compose it when taken individually. Hence a low-risk portfolio need not contain only
39、assets that individually have little risk; sometimes one reduces the riskiness of a portfolio by adding some high - risk assets that offset the risks of other assets in it. 25 For Paragraph 1 choose the summary which you think best expresses the main idea. （ A） The existence of inflation produces pu
40、rchasing - power risk. （ B） Purchasing - power risk involves a loss in the value of money loaned or borrowed be- cause of higher or lower inflation than expected. （ C） Purchasing - power risk produced by an inflation higher than expected affects lenders only. 26 Choose the summary that best expresse
41、s the main idea of Paragraph 2. （ A） If you have purchased a fixed interest - rate security, then both the cash - in value and the interest you receive remain constant throughout the life of that security. （ B） Buying a fixed interest - rate security of a limited term is very risky because any inter
42、est rate changes will produce a loss of cash - in value. （ C） Buying a fixed length security with a fixed interest rate means that the cash - in value of that security will change as interest rates in general change. 27 Choose the summary that best expresses the main idea of Paragraph 3. （ A） The ri
43、sk factor in a portfolio can be reduced by including assets whose risks are complementary, i. e. , if one loses value because of particular circumstances the other gains because of those circumstances. （ B） One should try to eliminate all risks from ones portfolio by only buying very safe shares. （
44、C） Under no circumstances should a careful investor add high risk assets to his/her portfolio even though the income or capital gain that may be received from that high risk asset could be very large. 28 Find words in the text that have the meaning of failure to keep an agreement: （ A） default （ B）
45、lose （ C） gain （ D） anticipate 四、英释汉 29 Securities regulators, at both the domestic and international levels, shall be guided by a constant concern for investor protection. 30 The New Basle Capital Accord is more extensive and complex than the 1988 Basle Accord, which is a natural reflection of the
46、advancement and innovations in the financial marketplace and the need for a more risk -sensitive framework. 五、判断正误 30 The most basic tool of the account is the accounting equation. This equation presents the assets of the business and the claims to those assets. Assets are economic resources of a bu
47、siness that are expected to be of benefit in the future. Cash, office supplies merchandise, furniture, land and buildings are examples; Claims to those assets come from two sources. Liabilities are “outside claims“, which are economic obligations, debts payable to outsiders. These outside parties ar
48、e called creditors. For example a creditor who has loaned money to a business has a claim- a legal right - to a part of the assets until the business pays the debt, “insider claims“ are called owners equity or capital. These are the claims held by the owners of the business. Owners equity is measure
49、s by subtracting liabilities from assets. 31 The owners of a business are those who have invested their money in the business. There- fore, they are the only persons who have the right of claims to the assets of the business. （ A） Right （ B） Wrong （ C） Doesnt say 32 The amount of liabilities of business tells us how much the business owes to outsiders. （ A） Right （ B） Wrong （ C） Doesnt say 33 Assets is measures by subtracting owners equity from liabilities. （ A） Right （ B） Wrong （ C） Doesnt say 33 There
