金融英语单选.doc

金融英语：FECT-1(1)单选题
D1. 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
B2. 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
A3. Market risk refers to the risk of______.
A. financial prices fluctuations

B. default
C. fraud
D. deferred payments
A4. 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.
A5. 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
C6. 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
A7. An amount, payable in money goods, or service, owed by a business to a creditor, is known as a/an .
A. liability 负债

B. debt
C. equity

D. asset
B8. 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
A9. 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
A10. 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
B11. 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
B12. 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%
D13. 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
b14. 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)
A15. The main liability on a bank balance sheet is ______.
A. deposits

B. capital and reserves
C. loans and overdrafts
D. cash
A16. ______ 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
A17. 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 承购包销
b18. 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
b19. 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 1.6342
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
金融英语：FECT-1(5)单选题
1. What are the expected returns for Stocks X and Y respectively? ______.
A. 20% and 10%
B. 18% and 12%
C. 20% and 11%
D. 18% and 5%

2. Which of the following payment terms eliminates the exchange risk, assuming the exporter invoices in foreign currency? ______.
A. Confirmed irrevocable documentary credit
B. Open account
C. Documentary collection D/A
D. None of the above

3. ABC Co. Ltd. purchased a car for $ 12 000, making a down payment of $5 000 cash and signing a $7 000 note payable due in 60 days. Which of the following is not correct? ______.
A. From the viewpoint of a short-term creditor, this transaction makes the business less solvent
B. Total liabilities increased by $7 000
C. Total assets increased by $12 000
D. This transaction had no immediate effect on the owner's equity in the business

4. Which of the following terms of payment will entirely eliminate country risk? ______.
A. Revocable documentary credits
B. Confirmed Irrevocable documentary credits
C. Documentary collection D/P
D. Documentary collection D/A

5. The expiry date of a documentary credit is Sunday, 24 February, and documents have to be A presented to you. Which of the following is an acceptable presentation? (Assume there is no latest stated date for shipment stipulated.) ______.
A. Presentation to you on Monday 25 February with the bill of lading dated 25 February
B. Presentation on Monday 25 February with the bill of lading dated Sunday 24 February
C. Presentation on Tuesday 26 February with the bill of lading dated Sunday 24 February
D. Presentation on Friday 22 February with the bill of lading dated Sunday 29 January

6. What are the standard deviations of returns on Stocks X and Y respectively? ______.
A. 15% and 26%
B. 24% and 13%
C. 20% and 4%
D. 28% and 8%

7. Who makes the first presentation of documents under a transferable credit? ______.
A. Applicant
B. First beneficiary
C. Second beneficiary
D. None of the above

8. A transaction caused a $10 000 decrease in both total assets and total liabilities. This transaction could have been ______.
A. repayment of a $ 10 000 bank loan
B. an asset with a cost of $10000 was destroyed by fire
C. purchase of a delivery truck for $10 000 cash
D. collection of a $10 000 account receivable

9. Money ceases to serve as an effective store of value when ______.
A. the government runs large deficits
B. the unemployment rate is very high
C. productivity in the economy declines
D. rapid inflation occurs

10. An indication that the money supply is greater than the desirable amount would be .
A. insufficient spending and excessive saving
B. deflation
C. inadequate spending and rising unemployment
D. rising wages and prices ！
11. If a nation's interest rates are relatively low compared to those of other countries, then the exchange value of its currency will tend to ______ under a system of exchange rates.
A. appreciate... floating
B. depreciate...floating
C. appreciate... fixed
D. depreciate... fixed

12. Which of the following is true of a company's balance sheet? ______.
A. It displays sources and uses of cash for the period
B. It is unnecessary if both an income statement and a statement of cash flows are available
C. It is a separate representation of the company's revenue and expense transactions for the year
D. It is an expansion of the basic accounting equation of Assets=Liabilities+Owner's Equity

13. When Americans or foreigners expect the return on dollar deposits to be high relative to the return on foreign deposits, there is a ______ demand for dollar deposits and a correspondingly ______ demand for foreign deposits.
A. higher... higher
B. lower... higher
C. higher... lower
D. lower...lower

14. Velocity is the ______.
A. inverse of GNP
B. speed at which checking accounts are converted into cash
C. relationship between the price level and the money supply
D. rate at which money turns over

15. Assume that of your $10 000 portfolio, you invest $9 000 in Stock X and $1 000 in Stock Y. What is the expected return on your portfolio? ______.
A. 18%
B. 20%
C. 19%
D. 3%

b16. Which of the following would you expect to find in a correctly prepared income statement? .
A. Cash balance at the end of the period
B. Expenses incurred during the period to earn revenues
C. Contributions by the owner during the period
D. The reported company's financial position at a specific date

17. The concept of beta is most closely associated with ______.
A. correlation coefficient
B. the capital asset pricing model
C. nonsystematic risk
D. mean-variance analysis

a18. The velocity of money for a given year can be calculated by ______.
A. dividing GNP by the money supply
B. dividing aggregate supply by aggregate demand
C. dividing the price level by the money supply
D. multiplying the price level by total output
A
19. The theory of purchasing power parity states that exchange rates between any two currencies will adjust to reflect changes in ______.
A. the price levels of the two countries
B. the current account balances of the two countries
C. the fiscal policies of the two countries
D. the trade balances of the two countries

20. Before issuing a credit, it is important for the issuing bank ______.
A. to make certain of the importer's creditworthiness
B. to go through the contract terms
C. to have a thorough understanding of the exporter
D. all of the above

答案：
1.A 2.D 3.C 4.B 5.B 6.B 7.C 8.A 9.D 10.D
11.B 12.D 13.C 14.D 15.C 16.B 17.B 18.A 19.A 20.A