1、（原）金融专业英语（ FECT）中级银行业务模拟试卷 1及答案与解析 Qustion 1 1 What is the name of the officer in charge of opening Letter of Credit for customers? 2 What is the safest way of securing settlement for exporter? 3 Which company does Mr. Yang come from? 4 How many parties are involved in it? And name 3 of them. 5 Befo
2、re issuing a credit, what must the bank make certain? 6 Will the paying bank send the documents to the issuing bank or to the buyer? 7 What is the most important document stipulated in an application for L/C? 8 Can the issuing bank be paid in cash? 9 Can a loan be secured by the goods which is just
3、imported? 10 What gives the receiver the title to the goods? Question 2 11 The Merchantile Bank also issued coins until the late 970s. （ A）正确 （ B）错误 12 In Hongkong, money supply is a market-determined phenomenon rather than a Monetary Authority regulated one. （ A）正确 （ B）错误 13 A commercial paper is e
4、ssentially a promissory note, secured and with a maturity date. （ A）正确 （ B）错误 14 A certificate of deposits differs from the general type of time deposits in that it is negotiable and can be sold to another party before the maturity date. （ A）正确 （ B）错误 15 Under true lease, the company or the bank wil
5、l hold the title to the facilities, receive tax credit if there is any, sell facilities to the user at a bargain price when the lease expires. （ A）正确 （ B）错误 16 An irrevocable credit may be cancelled at any time up to the moment the advising bank pays. （ A）正确 （ B）错误 17 Because futures contracts are s
6、tandardized, they are very useful for quotation and trading. （ A）正确 （ B）错误 18 Unsimilar to the Hongkong dollar savings deposit, the customer with foreign currency savings deposit can withdraw funds at any time without giving prior notice to the bank. （ A）正确 （ B）错误 19 A bridging loan is a loan which
7、is granted to purchase a car. （ A）正确 （ B）错误 20 “Gross-working-capital“ refers to all of the following current assets: cash, account receivable, inventory and any other liquid assets. （ A）正确 （ B）错误 21 A put option is an option which gives the buyer the right to buy the currency at the stated strike p
8、rice on or before the expiry date. （ A）正确 （ B）错误 22 In August 996, 2 trial credit cards named as “Visa Cash“ and “Mondex“ were introduced in Hongkong. （ A）正确 （ B）错误 Question 3 23 What are the properties of money? 24 List any 4 factors included in the approach that HKMA adopted in assessing the adequ
9、acy of a financial institutions liquidity. 25 Name any 3 types of syndication facilities that banks provide to business sectors. 26 What are the different types of money? 27 What are the factors affecting the level of money supply in Hongkong? 28 List any 3 items that the liquefiable assets of an au
10、thorized institution in HK include. Question 4 29 Whats the relationship between banks and clients? What services do banks provide to the personal customers? Question 5 30 Besides file loans, banks provide non-loan financial services to their business clients. Describe the factoring services and lea
11、sing. Question 6 31 What credit risk assessment is involved in sole proprietorship and partnership company loan? Question 7 32 1. (a)State the main function of the following documents: (i) bill of lading (ii) certificate of insurance (iii) certificate of origin (iv) combined shipment document (b)Com
12、parisons between financial lease and operating leaseQuestion 8 33 Mr.Wu is expecting the goods he has ordered to arrive in three months and he has been asked to pay in Japanese Yen. Mr. Wu comes into your bank and asks for help, knowing that the Yen has increased in value over the past six months. W
13、hat can you, as the banks manager, do for Mr. Wu? （原）金融专业英语（ FECT）中级银行业务模拟试卷 1答案与解析 Qustion 1 1 【听力原文】 Letter of Credit A: East Bank. Good morning. B: Hello. May I speak to the officer in charge of opening Letter of Credit for customers. A: Yes, this is George Tangkerson speaking. What can I do for
14、you? B: This is Andrea Yang from Southeast Computer Ltd. We have an oversea supplier who wants to settle payment through L/C. Since this is the first time we have a transaction, they prefer the safest way of securing settlement, and suggest L/C. But we never handled it before. And your bank is our f
15、avorite one where we do all our banking. So Id like to know about L/C to smooth that new deal. A: OK. Mrs. Yang, thank you for choosing our bank as your favorite bank. In fact, a documentary letter of credit, after payment in advance, represents the safest and fastest way of securing payment for exp
16、orters, as the exporters can personally retain control of the documents of title to the goods until the moment of acceptance of a bill of exchange. B: I see, thats why they want it. Could you tell me how many parties are involved in a credit? A: Strictly speaking, there are five parties. The first o
17、ne is the applicant, usually the buyer. In your case, its you. You arrange a credit in accordance with the terms of the contract you have made with the beneficiary. B: You mean with the supplier? A: Exactly, he is the second party, and the credit is issued in his favor. B: I was told that if I come
18、to your bank and ask you to open a L/C for us, you function as the issuing bank. A: Correct. We, the issuing bank, commit ourselves in accordance with your instruction. And here comes the fourth party the advising/confirming bank, which is located in the country of the beneficiary and is usually our
19、 banks correspondent. I mean the issuing banks correspondent. Then, the paying/accepting bank makes payment to the beneficiary. B: So in the process of making settlements by means of L/C, first of all, the buyer applies to the issuing bank to open a credit in favor of the exporter. Will his applicat
20、ion always be approved? How about my application? A: Not necessarily. It will depend on the buyers creditworthiness. Before issuing a credit, the bank must make certain of its customers creditworthiness. If this is satisfactory, the credit is then advised to the exporter through a bank in his own co
21、untry, that is the advising bank. In your case, I assure you that your application will be accepted, because we know your company very well through all the banking you have done with our bank. B: Glad to hear that. Then, what is the issuing bank supposed to do next? A: Under the term of credit, the
22、issuing bank undertakes that the seller will be paid for his goods if he complies with certain stated conditions: these will call for certain documents, such as invoices, bills of lading and insurance documents. On condition that the documents presented to the advising bank due to him in exchange fo
23、r tine documents. B: Will the paying bank send the documents to you or to us? A: To us by air-mail, never to you. When we have received the documents, we hand them to you. And when the ship docks, your company will presents the bills of lading to the shipping company and receive your goods. B: So th
24、e payment for the goods by our company to you is a matter of arrangement between us and of no concern to the exporter? A: Thats right. And the settlement between the banks for the amount paid by the issuing bank is carried out through their nostro and vostro accounts. B: Oh, I see. The advantage of
25、a credit to the seller as you mentioned is self-evident he knows that he will receive the payment provided he complies with its terms, then are there any benefits to us? A: Yes. Because the payment will only be made by the advising bank when the exact documents specified have been received as these
26、are the documents of tide, then once they are in hands of the paying bank, it will only be a matter of time before they come to your hands, allowing you to collect the goods. B: Oh, thank you so much. Now I have a clear idea about L/C. Tomorrow I will go to your bank and open it. Thank you again. Se
27、e you tomorrow. A: OK. Great, you are welcome. See you tomorrow. Letter of Credit A letter of credit is a financial instrument issued by a bank on behalf of one of its customers, which authorizes an individual or business firm to which it is addressed to draw drafts on the hank for its account under
28、 certain conditions as set forth in the document. In a letter of credit, the financial strength or credit of the bank is substituted for that of the banks customers simply because the credit of the hank may be more substantial and more widely known. Another reason for heavy reliance on the letter of
29、 credit is that it is a desirable way of establishing certain quality standards or classifications that the goods must meet. Finally, it permits the seller to receive almost immediate payment for his goods, as soon as they are shipped; as a result, the cost to the importer is less than if the seller
30、 had to wait for payment for an extended period. Irrevocable letters of credit are used in international finance and, as the name implies, cannot be changed without the consent of all parties concerned. Risks are numerous in international trade: accidents at sea, strikes, riots, and civil commotions
31、 in port cities, all of which can cause damage to ships and their cargo. Typically many documents are necessary to comply with in an international transaction, and these must be specified in an application for a letter of credit. Several copies of a commercial invoice are needed for office use, and
32、customs invoices are required before some goods can be brought into this country. Probably the most important document stipulated in an application for a letter of credit is the negotiable on- beard ocean bill of lading. This document is a receipt that the cargo was received and was loaded on board
33、a ship. Whoever holds the on-board ocean bill of lading has the title to the goods. Therefore, the bank must have this document before payment is made. After an importer has completed arrangements for the issuance of a letter of credit by the bank, the bank is instructed to deliver the letter of cre
34、dit to the beneficiary. After receipt of the letter of credit, the foreign exporter arranges for the shipment of the goods to the importer in accordance with the terms of the letter of credit. When the exporter has prepared all documents required and delivered the goods to the ship, the documents ar
35、e then attached to a draft and submitted to the exporters bank along with the letter of credit. If the documents are in order, the bank then negotiates the draft and forwards the documents to the bank in the importers country. Several procedures could be employed in transferring the funds to exporte
36、rs bank. The importers bank could merely credit funds to the exporting banks account if the foreign bank carried a correspondent account with the bank in the importers country. Banks that issue L/C may be paid in cash a simple transfer from the customers account to the bank. If, however the importer
37、 does not have all or a part of the funds, he must negotiate a loan from the bank. This loan could be unsecured assuming the borrower has sufficient credit worthiness, or it could be secured by the goods just imported. If these goods are ready for sell, they could be released to the importer on a tr
38、ust receipt. As they are sold, the loan is repaid, or they might be placed in a warehouse, with the warehouse receipts serving as collateral for the loan. Whatever the arrangement, the importer receives the order bill of lading which gives him title to the goods. If the goods were to be, used in fur
39、ther manufacturing, a different kind of loan might be made with a longer maturity. 1 【正确答案】 George Tangkerson 2 【正确答案】 L/C 3 【正确答案】 Southeast Computer Ltd. 4 【正确答案】 Five. an applicant a beneficiary an issuing bank an advising/confirming bank a paying/accepting bank 5 【正确答案】 The bank must make certai
40、n of its customers creditworthiness. 6 【正确答案】 To the issuing bank 7 【正确答案】 The bill of lading 8 【正确答案】 Yes 9 【正确答案】 Yes 10 【正确答案】 The ruder bill of lading Question 2 11 【正确答案】 B 【试题解析】 Correction: The Merchantile Bank also issued banknotes until the late 1970s. 12 【正确答案】 A 13 【正确答案】 B 【试题解析】 Correct
41、ion: A commercial paper is essentially a promissory note, unsecured and with a maturity date. 14 【正确答案】 A 15 【正确答案】 B 【试题解析】 Correction: Under conditional lease, the company or the bank will hold the title to the facilities, receive tax credit if there is any, sell facilities to the user at a bargai
42、n price when the lease expires. 16 【正确答案】 B 【试题解析】 Correction: A revocable credit may be cancelled at any time up to the moment the advising bank pays. 17 【正确答案】 A 18 【正确答案】 B 【试题解析】 Correction: Similar to the Hongkong dollar savings deposit, the customer with foreign currency savings deposit can wi
43、thdraw funds at any time without giving prior notice to the bank. 19 【正确答案】 B 【试题解析】 Correction: A chattel mortgage is a loan which is granted to purchase a car. 20 【正确答案】 A 21 【正确答案】 B 【试题解析】 Correction: A call option is an option which gives the buyer the right to buy the currency at the stated st
44、rike price on or before the expiry date. 22 【正确答案】 B 【试题解析】 Correction: In August 1996, 2 trial smart cards named as “Visa Cash“ and “Mondex“ were introduced in Hong Kong. Question 3 23 【正确答案】 a. portability b. divisibility c. homogeneity and identifiability d. durability e. scarcity f. purchasing p
45、ower stability 24 【正确答案】 a. maturity mismatch profile b. ability to borrow in the interbank market c. loan-to-deposit ratio d. diversity and stability of deposit base e. size of intra-group transactions 25 【正确答案】 a. syndicated loan b. revolving credit facilities c. multiple option facilities d. othe
46、r types of facilities include: Standard Eurocurrency facilities SNIFS RUFs 26 【正确答案】 a. token money b. cheque account deposits c. commodity money 27 【正确答案】 a. foreign currencies in file hands of non-bank and non-DTC public b. net amount due from banks abroad c. loans and advances to bank customers d
47、. investments, including foreign investments e. cash holdings in Hongkong dollars f. net balance of deposits abroad 28 【正确答案】 a. currency notes and coins b. gold c. The amount by which the total one-month liabilities of the authorized institution to relevant banks are exceeded by the total one-month
48、 liabilities of relevant banks to it. d. export bills e. marketable debt securities or prescribed instruments f. eligible loan repayments Question 4 29 【正确答案】 (1)The relationship between banks and clients: A. It is a contractual agreement under which, once an account is established, the agreement be
49、gins to operate. B. It is a debtor-creditor relationship. Depositor-banker-borrower. C. It is the principal-agent relationship. The agent refers to the services that the bank provides to the customer. (2)The services provided by banks to personal customers: A. The services can be divided into two categories: General banking to regular customers and the private banking to specific or selected high net worth customers. B. General banking services: a. Traditional types of
