金融英语的单选题(doc 12页)

金融英语：

FECT-1

单选题

（一）

1. Which of the following is not a function of money? ______.

A. To act as a medium of exchange

B. To act as a unit of account

C. To act as a store of value

D. To provide a double coincidence of wants

E. To act as a means of payment

2. The price in the foreign exchange market is called ______.

A. the trade surplus

B. the exchange rate

C. the money price

D. the currency rate

3. Market risk refers to the risk of______.

A. financial prices fluctuations

B. default

C. fraud

D. deferred payments

4.

Which

of

the

following

is

not

among

the

generally

accepted

accounting

principles?

______.

A. Cash basis

B. Prudence

C. Consistency

D. Going concern

E. Money measurement.

5. 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 security

C. An international trade settlement system biased in favour of importers

D. All of the above

6. Holding a group of assets reduces risk as long as the assets ______.

A. are perfectly correlated

B. are completely independent

C. do not have precisely the same pattern of returns

D. have a correlation coefficient greater than one

7.

An

amount,

payable

in

money

goods,

or

service,

owed

by

a

business

to

a

creditor,

is known as a/an .

A. liability

B. debt

C. equity

D. asset

8. What function is money serving when you buy a ticket to a movie? ______.

A. store of value

B. a medium of exchange

C. transaction demand

D. a unit of account

9.

If

foreigners

expect

that

the

future

price

of

sterling

will

be

lower,

the

______.

A.

supply

of

sterling

will

increase,

demand

for

sterling

will

fall,

and

the

exchange

rate will fall

B.

supply

of

sterling

will

increase,

demand

for

sterling

will

rise,

and

the

exchange

rate may or may not increase

C.

supply

of

sterling

will

fall,

demand

for

sterling

will

increase,

and

the

exchange

rate will rise

D. supply of sterling will fall, demand for sterling will fall, and the exchange

rate may or may not fall

10.

The

documentary

collection

provides

the

seller

with

a

greater

degree

of

protection than shipping on ______.

A. open account

B. bank's letter of guarantee

C. banker's draft

D. documentary credit

11. Which of the following statements is not true of central banks? ______.

A. They pay the government's salaries

B. They always undertake the regulation of the banking system

C. They are always the lender of last resort

D. None of the above

12. When GBP/USD rate goes from 1.6150 to 1.8500, we say the dollar ______.

A. appreciates by 12.70%

B. depreciates by 14.55%

C. depreciates by 12.70%

D. appreciates by 14.55%

13.

According

to

diversification

principle

in

investment,

suppose

you

invest

Stock

X and Stock Y with equal funds, which of the following is not true? ______.

A. If X and Y are totally independent with each other, the risk of the portfolio

is reduced

B. If X and Y are perfectly negatively correlated, the risk of the portfolio is

perfectly offset

C. If X and Y are perfectly positively correlated, the risk of the portfolio is

neither reduced nor increased

D. If X and Y are perfectly negatively correlated, the risk of the portfolio is

neither reduced nor increased

14. These are four main methods of securing payment in international trade:

(1) payment under documentary credit

(2) open account

(3)

collection,

that

is

document

against

payment

or

acceptance

of

a

bill

of

exchange

(4) payment in advance

From an exporter's point of view, the order of preference is ______.

A. (4) , (2) , (3) , (1)

B. (4) , (1) , (3) , (2)

C. (4) , (3) , (1) , (2)

D. (2) , (4) , (1) , (3)

15. The main liability on a bank balance sheet is ______.

A. deposits

B. capital and reserves

C. loans and overdrafts

D. cash

16. ______ shows that net income for a specified period of time and how it was

calculated.

A. The income statement

B. The capital statement

C. The accounting statement

D. The statement of financial condition

17. Why must the liabilities and assets of a bank be actively managed? ______.

A. Because assets and liabilities are not evenly matched on the same time scale

B. Because assets and liabilities are evenly matched

C. Because the interbank market uses LIBOR

D. Because assets and liabilities can be underwritten

18.

If

the

expected

returns

of

two

risky

assets

have

a

perfect

negative

correlation,

then risk .

A. is increased

B. falls to zero

C. is unaffected

D. is reduced by one-half

19. A possible disadvantage of freely fluctuating exchange rates with no official

intervention is that .

A. some nations would experience continual deficits

B. the exchange rates may experience wide and frequent fluctuations

C.

nations

would

no

longer

be

able

to

undertake

domestic

policies

designed

to

achieve

and maintain full employment

D. nations would need a larger supply of international reserves than otherwise

20. What are your GBP/USD position and the average rate if you sell ?4m at 1.6350

buy ?5m at 1.6340 and sell $$5m at 1.6348?

A. Short ?2 058 478.10 long $$3 370 000 at 1.6371

B. Long ?5 941 521.90 short $$9710 000 at 1.63

42

C. Short ?5 941 521.90 long $$9 710 000 at 1.6342

D. Long ?4 058 478.10 short $$6 630 000 at 1.6336

答案：

1.D 2.B 3.A 4.A 5.A 6.C 7.A 8.B 9.A 10.A

11.B 12.B 13.D 14.B 15.A 16.A 17.A 18.B 19.B 20.D

（二）

1.

Under

which

one

of

the

following

circumstances

would

it

be

wise

for

your

customer

to arrange a forward foreign exchange contract? ______.

A. Import of goods priced in a foreign currency

B. Import of goods priced in RMB

C. Export of goods priced in RMB

D.

Export

of

goods

priced

in

a

foreign

currency

where

the

rate

of

exchange

has

been

agreed in the sales contract

2. Incoterms address ______.

A. the risks of loss between the parties

B. breaches of contract

C. ownership rights

D. type of ship used

3.

Which

of

the

following

is

or

was

an

example

of

representative

full-bodied

money?

______.

A. Debt money

B. ATS account

C. Gold certificate

D. Demand deposit

4. Risks associated with investing in foreign countries are the following except

______.

A. voting risk

B. exchange rate risk

C. country risk

D. political risk

5. An exporter sells goods to a customer abroad on FOB and on CIF term. Who is

responsible for the freight charges in each? ______.

A. Exporter; Exporter

B. Exporter; Importer

C. Importer; Importer

D. Importer; Exporter

6. Default risk refers to the possibility that a borrower may ______.

A. be unable to repay the principal on his loan

B. be unable to make the interest payments on his loan

C. go bankrupt

D. all of the above

7. What is the reserve requirement? ______.

A. The requirement of a bank to deposit a percentage of money

B. The requirement for deposits in cash

C. The percentage of a bank's deposits in the form of cash reserves

D. The requirement for cash reserves

8. A draft is like a check that can be endorsed but it isn't a title to goods, like

______.

A. a bill of lading

B. an inspection certificate

C. a certificate of origin

D. an insurance certificate

9. Arbitrage ______.

A. is a general economic term for buying something where it is cheap and selling

it where it is dear

B. keeps exchange rates consistent across markets

C. has been outlawed by the International Monetary Fund

D. cannot occur where there is a forward exchange market

E. both A and B

10.

What

is

the

purpose

of

comparing

the

ledger

entries

with

the

documents?

______.

A. To prove that all the transactions have made for the right amounts

B. To prove that all the accounts have been posted correctly

C. To check the number of all the debits and credits

D. To post the right accounts

11. What is Dollar Cost Averaging? ______.

A. A brokerage account that gives investors cheap trades

B. The idea that prices tend to rise over the long term

C. Buying stocks that are below average in value

D. A flat quarterly mutual fund fee averaged throughout the year

E. A strategy of investing money on a regular basis to take advantage of market

fluctuations

12. From a Chinese bank's point of view, the currency account which it maintains

abroad is known as______, while a RMB account operated in China for a foreign bank

is termed ______.

A. a vostro account... a nostro account

B. a vostro account…a mirror account

C. a mirror account…a nostro account

D. a nostro account... a vostro account

13. Under FOB terms the bill of lading would state goods ______.

A. loaded on board, freight payable at destination

B. loaded on board, freight paid

C. received for shipment, freight paid

D. received for shipment, freight payable at destination

14. The liabilities of the bank as shown in its balance sheet represent the ______

which it uses in its business.

A. sources of the funds

B. share capital

C. investments

D. advances to customers

15.

International

payments

and

other

messages

are

often

sent

through

an

international computer network called ______.

A. CHAPS

B. BACS

C. SWIFT

D. EIMT

16. Low levels of uncertainty (risk) are associated with .

A. stocks

B. stock options

C. higher potential returns

D. lower potential returns

17.

Government

securities

would

appear

on

a

commercial

bank's

balance

sheet

as

______.

A. an asset

B. reserves

C. part of net worth

D. a liability

18. A major problem with a fixed exchange rate system is that when countries run

foreign trade deficits, ______.

A. there is no self- correcting mechanism

B. currency values become unstable

C. the value of the reserve currency declines

D. world inflation increases

19. In a particular economy banks are required to keep 25 percent of all deposits

in the form of reserves; this gives a credit-creation multiplier of ______.

A. four

B. three

C. two

D. five

20. Regulation of the

money supply and financial markets is referred to

as ______.

A. fiscal policy

B. income policy

C. monetary policy

D. budgetary policy

答案：

1.A 2.A 3.C 4.A 5.D 6.D 7.A 8.A 9.E 10.B

11.E 12.D 13.A 14.A 15.C 16.D 17.A 18.A 19.A 20.C

（三）

1. When a country runs a foreign trade deficit under a flexible foreign exchange

rate system, its .

A. imports automatically increase

B. currency automatically depreciates

C. exports automatically decline

D. currency automatically appreciates

2. Which of the following statements is not true of accounting? ______.

A. Accounting is language of business

B. The user of accounting includes business, government, nonprofit organizations

and individuals.