1、初级银行综合类模拟试卷 3及答案与解析 一、单项选择 1 A mortgage is a type of _. （ A） supply （ B） conveyance （ C） limit 2 He wants to get a loan to _ some improvements in his factory. （ A） fluctuate （ B） adjust （ C） finance 3 Interest rates are high because money is _. （ A） guaranteed （ B） variable （ C） tight 4 Theyll never
2、 get a mortgage; theyre bad _. （ A） risks （ B） mortgages （ C） finance 5 There will be no change in the interest rate during the _ of the mortgage. （ A） life （ B） limit （ C） title 6 Were paying for the furniture we bought in monthly _. （ A） installments （ B） budgets （ C） credit bureau 7 The bank uses
3、 a _ to find out how prospective borrowers repaid their past debts. （ A） profile （ B） loan agreement （ C） credit bureau 8 Mr. Harriss application for a loan was approved because he is _. （ A） creditworthy （ B） on time （ C） capacity 9 Because the borrower defaulted on his repayment of the loan, the b
4、ank will hold the _ responsible. （ A） reporting agency （ B） co-signer （ C） budget 10 Lisa and Frank Edwards developed a _ of monthly expenses to see how much money they would have left over to make loan payments on a refrigerator. （ A） data （ B） profile （ C） consumer credit 二、完型填空 10 trade, above, e
5、xpiration, respond, strike, profitable, seller, how, most, financial In general, an option gives to the buyer the right, but not the obligation, to buy or sell a good, whereas the option seller must【 21】 accordingly. Many different types of option contracts exist in the【 22】 world. The two major typ
6、es of contracts【 23】 on organized options exchanges are calls and puts. A call gives to the buyer of the option contract the right to buy a specified number of units of an underlying asset, at a specified price called the exercise or【 24】 price, on or before a specified date called the expiration da
7、te or strike date. A put gives its the buyer the right to sell a specified number of units of an underlying asset at a specified price on or before a specified date. In all cases the【 25】 of the option contract, the writer, is subordinate to the decision of the buyer, and the buyer exercises the opt
8、ion only if it is【 26】 to him or her. The buyer of a call benefits if the price of the asset is【 27】 the exercise price at expiration. The buyer of a put benefits if the asset price is below the exercise price at expiration. The complete definition of an option must clearly specify【 28】 the option c
9、an be exercised. A European - type option can only be exercised on a specified date, usually the【 29】 date. An American -type option can only be exercised by the buyer at any time until the expiration date. American options are used on【 30】 of the organized options exchanges in the world. Both types
10、 of options can be freely traded at any time until expiration. 三、阅读理解 20 Credit and credibility In pursuit of a new source of profit, many of the entities that call themselves banks have strayed far from the business of taking and safeguarding the publics deposits and running the payment system. Com
11、petition has forced banks to range so far, in so many directions and at such a lick that, perhaps for the first time since the days of Shylock, it is necessary to stop to ask quite what is a bank. The gales of change will leave many banks looking different in form and substance from a decade ago. Ba
12、nking is traditionally thought of as one business, not least of all by bankers. Yet, as Mr. Thomas Steiner of Mckinsey, a management consultancy, points out, it comprises around 150 different lines of business. There is little that is special about many of them. In future, plenty of these activities
13、 will be done by others, either instead of or as well as by banks. On the other side of the coin, many of the things that other financial institutions now do will be- come the business of some banks. Banking will still be a principality in the kingdom of financial services, but its heartland will sh
14、rink. Outsiders will move in. Much of the native population will settle elsewhere. The bankers diaspora will be wide. Crossing the divides This change is already seen in America, Europe and Japan. American and Japanese commercial banks are pushing their merchant banking as deeply into the securities
15、 business as they feel the regulators will let them get away with. Citicorp and J. P. Morgan have all been al- lowed to set up securities - underwriting affiliates slipping through the Section 20 loophole of the legislation separating commercial and investment banking. The two businesses have become
16、 so interwoven that, as Mr. Dennis Weatherstone, president of J. P. Morgan, says, we really have to rip the fabric to separate the threads. For their part, investment banks and securities houses have become direct suppliers of credit to wide range of financial and non - financial customers. They off
17、er investment products that are virtual substitutes for interest - earning demand deposits. They own and operate non - bank banks that give access to payment systems. In short, they have become providers of services that commercial banks have traditionally offered. Though forbidden from commercial b
18、anking in their home market, American and Japanese investment banks and securities houses happily run such banking affiliates abroad. It is not only the boundaries between the banking and securities industries that are becoming blurred. So are those with insurance and commerce. Bankers are becoming
19、everyday occurrences. Japans Nippon Life joined the act in February by taking a 4% stake in Spains Banco Bilbao Vizcaya for 250m. At home, Japanese insurers already have affiliations with banks, through the web of cross - shareholdings of the big industrial groups. Americas third biggest re- tail st
20、ock broking firm, Pru - Bache, has dipped in the waters of banking by buying a small bank in Georgia and more recently a thrift. Everywhere ordinary commercial firms are making deep insurance into financial services. Retailers and manufacturers own securities companies, insurance firms thrifts and n
21、on - bank banks. They offer a wide range of credit, investment - banking and insurance services, to companies and individuals alike. 21 What does the pronoun “themselves“ (line 2) refer to in the text? （ A） sources （ B） entities （ C） hanks （ D） companies 22 Which of the following statements is False
22、 according to the text? （ A） Competition is gradually forcing banks to question their identity. （ B） Most of the different activities done by banks could be done by other types of institution. （ C） Regulations in America and Japan are preventing commercial banks from getting into the securities busi
23、ness. （ D） Separating the commercial and investment banking activities of some American banks would be very difficult. 23 What does this sentence mean? “Banking will still be a principality in the kingdom of financial services, but its heartland will shrink.“ （ A） Banking will still be the most impo
24、rtant part of financial services. （ B） Banking will be absorbed by other areas of financial service. （ C） Banking will remain an independent but smaller area of financial services. （ D） Bankings position within financial services will be unchanged. 23 Single, but not level The 1992 programme is goin
25、g to run a bit late for the European Communitys financial services companies. The earliest that the whole - more or less - of the industry will be able to take advantage of its single market now looks like being mid - 1994. That is the European Commissions unstated timetable for EC member countries
26、to implement its third life - insurance directive, whose draft is published on February 20th. The directive, which follows similar directive on non -life insurance published in draft a few months ago, is the last big element in its push to open financial markets that are still highly protected. The
27、broad idea is that financial service companies should have the right to operate through- out the EC on the basis of a single “passport“, issued by the supervisory authority in their home country. The commission hoped to have the main insurance - all liberalised together at the end of 1992. Now it lo
28、oks as if only the banking directive, adopted by the Council of Ministers in December 1989, will be operative in time. A draft investment services directive was submitted by the commission to the council in January 1989, and is much further along the legislative road than the two insurance directive
29、s. Yet the obstacles that it has run into make it probable that even it will miss the end - 1992 deadline. The directive would let investment banks and stockbrokers serve clients throughout the EC and trade on all EC exchanges, subjected only to home - country control. Problems arose last November,
30、when France proposed to curb their freedom to trade securities outside recognised exchanges. This has split the EC into the usual north/south, liberal/interventionist groups. The 12 finance ministers will try again on February 25th, but progress is unlikely. Eventually, a compromise will no doubt be
31、 reached, probably one saying that small investors should have their orders executed on official markets unless they want otherwise. But all this will take time to negotiate. The council is unlikely to adopt the directive formally much before the end of this year. Governments will then be hard put t
32、o get it on to their national statute books by mid-1993. Do the delays in the investment services and insurance directives matter? The EC is adept at missed deadlines, and end - 1992 was never carved in stone. The trouble is that banks, investment houses and insurers are now in competition with each
33、 other. Banks therefore will have a head start over their non - banking rivals in selling competitive products across the EC. Instead of the single, level playing field for financial services that the Community talks of, the field will indeed be single but still sloping from one end to the other. Se
34、nior commission officials say that it is up to national governments to get a move on. This is wishful thinking. On February 19th the British government began consulting with interested parties on last autumns non -life -insurance draft directive. This process will take months to complete, and only t
35、hen, say the British, will they be able to begin serious negotiations in the Council of Ministers. The draft life directive, while sharing some principles with the non-life draft, also poses new problems that will take time to resolve. These concerns such issues as consumer protection (that is, disc
36、losure, supervision and so on), calculating technical provisions to meet insurers liabilities, and the removal of certain national provisions like Belgiums ban on life - insurance policies linked to unit trusts. 24 Look Carefully at Paragraph 7. Then decide which of the following is the best explana
37、tion of the last sentence in that paragraph. （ A） Banks will not be in competition with insurance companies and investment service companies after 1992. （ B） Only banks will be allowed to alter their areas of activity after 1992. （ C） Banks will have an unfair advantage over other financial institut
38、ions from 1922. （ D） The European Commission wishes to give banks a special position in the single market. 四、英释汉 25 Because insurance contracts are complicated, they must be approved by the regulatory authorities to ensure that the insurance - buying public will not be mistreated as a result of un-
39、fair provisions. 26 Increasingly globally integrated financial markets pose significant challenges to the regulation of securities and futures market. 五、判断正误 26 There are two general ways in which the term “market“ is used in economics. First, a market is thought of as a formal or informal organizat
40、ion of buyers and sellers who conduct trades in particular commodities or services. The market may be located at a geographical meeting place, such as your friendly neighborhood bookstore or shopping center (a retail market). A market may be organized over wide areas connected through phones or comp
41、uter terminals. Although the trading room of the New York Stock Exchange is located in New York City, buyers and sellers who actively participate in this market may conduct their trades from distant locations. This description is the institutional way of looking at a market. The second meaning of th
42、e word “market“ is used in formal economic models. Here the equations that explain the demand and supply of a commodity such as money are sometimes grouped together. Although money is traded in all markets, the reasons for supplying and holding money are thought to be specific enough to warrant sepa
43、rate equations. This is an abstract way to think of the money market. New financial assets are traded in primary markets. Financial assets that are resold are traded in secondary markets. Finns that specialize in trading either new or reissued financial assets are called primary and secondary dealer
44、s, respectively. Both new and reissued securities are traded in many markets, such as the U. S money market. The New York Stock Exchange, however, is a secondary market. 27 A financial market may be thought of as an ordinary market in which traders may buy or sell particular financial commodities. （
45、 A） Right. （ B） Wrong. （ C） Doesnt say. 28 We can learn from the second part of the passage that there are some equations of market which can explain the demand and supply of the currency of a country. （ A） Right. （ B） Wrong. （ C） Doesnt say. 29 If a consumer wants to sell his CDs before the maturit
46、y date, he would do it in the primary markets. （ A） Right. （ B） Wrong. （ C） Doesnt say. 29 A consumer with an unused line of credit on his or her credit card account may make retail purchase without presenting a demand deposit check or cash. Unutilized credit card credit is used instead. The line of
47、 unutilized credit available to card holders may be a good candidate for inclusion in the definition of money. These credit lines serve as a medium of exchange for the purchase of a wide variety of goods and services. Lines of unutilized credit card credit are similar to unutilized demand deposit ov
48、erdraft facilities, which allow customers to issue checks for more money than they have on deposit. Overdrafts, which have long been used in Great Britain and Canada, are now widely used in the Unite States, often against bank credit card credit. The range of transactions that might be included in c
49、omputerized credit card transactions is large. Taxicabs, newspaper stands, vending machines, public transportation, street vendors, and highway toll stations, to name but a few places where cash is used, could all, be provided with small machines that store information about purchases. These data sources could be linked into computer terminals at convenient locations or could be entered synchronously with the purchase through centralized communication networks. A centralized electronic fund
