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1、金融英语初级模拟试题 1Usually the low interest rate currency trades at a _ to the high interest rate currency in the forward market Apremium Bpar Cdiscount Dbar 2Which of the following statements about standby letters of credit is true? _ AThey can serve as a guarantee to a buyer against a seller defaulting B
2、They are contrary to the general rule that letters of credit may only be used for the actual movement of goods CThey are unlike a tender （or other ） bond in their legal standing and method of operation DThey are unlike a tender bond with its fixed expiry date 3The most liquid of all assets is _ Athe
3、 stock of commercial banks BM 1 Cintelligence Dthe debt of major corporations 4Beta and standard deviation differ as risk measures in that beta measures _ Aonly unsystematic risk ， while standard deviation measures total risk B only systematic risk ， while standard deviation measures total risk Cbot
4、h systematic and unsystematic risk ， while standard deviation measures only unsystematic risk Dboth systematic and unsystematic risk ， while standard deviation measures only systematic risk 5What information would you find in a statement of cash flows that you would not be able to get from the other
5、 two primary financial statements? _ ACash provided by or used in financing activities BCash balance at the end of the period CTotal liabilities due to creditors at the end of the period DNet income 6An analyst estimates that a stock has the following probabilities of return depending on the state o
6、f the economy： State of economy Probability Return Good 01 15% Normal 06 13% Poor 03 7% The expected return of the stock is _ A78% B114% C117% D130% 7According to the rules of debit and credit for balance sheet accounts _ Aincreases in asset ， liability， and owners equity accounts are recorded by de
7、bits Bdecreases in asset and liability accounts are recorded by credits Cincreases in asset and owners equity accounts are recorded by debits Ddecreases in liability and owners equity accounts are recorded by debits 265 8Individuals will accept the medium of exchange in return for goods and services
8、 only if they are confident that _ Athe inflation rate is zero Bit possesses intrinsic value Cthey can pass it on to others Dthey can exchange it for gold 9When a country s currency appreciates， the countrys goods abroad become _ and foreign goods in that country become _ Acheapermore expensive Bmor
9、e expensive cheaper Ccheapercheaper Dmore expensive more expensive 10A US company is bidding for a contract in ChinaIts Chinese customer asks for a performance bondWhat is the most likely course of action? _ AIt asks its bank to issue a tender bond which can be converted into a performance bond BIt
10、gives up its bid C It consults its bank about issuing a standby letter of credit DIt asks its bank to issue a performance bond 11ABC Co Ltd has a $3 500 account receivable from XYZ StoreOn March 20， XYZ makes a partial payment of $2 100 to ABC The journal entry made on Mdrch 20 by ABC to record this
11、 transaction includes _ Aa debit to the cash received account of $2 100 Ba credit to the Accounts Receivable account of $2 100 Ca debit to the Cash account of $1 400 Da debit to the Accounts Receivable account of $1 400 12Intervention in the foreign exchange market means the government _ Arestricts
12、individuals from buying and selling foreign exchange Brestricts the importation of certain goods Cor central bank buys or sells foreign exchange Ddevalues the currency in the foreignexchange market 13Which of the following is not a form of counter trade? _ ACounter purchase BBuyback COffset DBalance
13、 trade 14A credit to a revenue account _ Adecreases revenues Bincreases equity Cdecreases equity Dincreases assets 15If the government guaranteed that anyone wishing a job would be provided one ， the likely result would be _ Amassive layoffs Ban increase in the money supply Can increase in inflation
14、ary expectations Dthe development of a barter system转贴于 265 考试网 http ： /www265kscom/ 16Given $100 000 to invest， what is the expected risk premium in dollars of investing in equities versus risk free Tbills （U S Treasury bills） based on the following table? _ Action Probability Expected Return Inves
15、t in equities06$50 OOP 04$30000 Invest in riskfree T bill10$5000 A$20000 B$18000 C$15000 D$13000 17Economists assume that most people take risks _ Abecause doing so is exciting Bonly when they have no riskless alternative Cvery infrequently Dif they are compensated for taking the risks 18The Phillip
16、s Curve shows the relationship between _ Aaggregate demand and aggregate supply Binterest rates and inflation Crecessions and booms Dinflation and the unemployment rate 19 In a fixed exchange rate system， speculative selling of a currency is based on anticipation of _ Aappreciation Bdevaluation Ca f
17、oreign trade surplus Dinterest rate increase 20A collecting bank is employed by _ Athe principal Bthe remitting bank Cthe drawer Dthe drawee ， who is its customer 21The following statements describing net income are all correct except that _ Anet income is computed in the income statement， appears i
18、n the statement of owners equity， and increases owners equity in the balance sheet Bnet income is equal to revenues minus expenses Cnet income is computed in the income statement， appears in the statement of owners equity ， and increases the amount of cash shown in the balance sheet Dnet income can
19、be determined using the account balances appearing in an adjusted trial balance 22A strong dollar encourages _ Atravel to the United States by foreigners Bpurchase of American goods by foreigners CAmericans to travel abroad DAmericans to save dollars 23In what circumstances would the beneficiary of
20、a confirmed documentary credit not receive payment? _ AFailure of the applicant BFailure of the issuing bank CFailure to fulfil the credit terms DFailure to fulfil the commercial contract 24The balance in the owners capital account of ABC Co Ltd at the beginning of the year was $65 000During the yea
21、r ， the company earned revenue of $430 000 and incurred expenses of $360 000， the owner withdrew $50 000 in assets， and the balance of the Cash account increased by $10 000At year end， the companys net income and the year end balance in the owners capital account were， respectively _ A$20 000 and $9
22、5 000 B$70 000 and $95 000 C$70 000 and $85 000 D$60 000 and $75 000 25Assume the inflation rate is expected to be 5 percent and the unemployment rate is 8 percentIf workers wish to get a 2 percent real wage increase ， they should bargain for a money wage increase of _ A3 percent B5 percent C7 perce
23、nt D13 percent 26Which statement about portfolio diversification is correct? _ AProper diversification can reduce or eliminate systematic risk BAs more securities are added to a portfolio， total risk typically would be expected to fall at a decreasing rate CThe risk reducing benefits of diversificat
24、ion do not occur meaningfully until at least 30 individual securities are included in the portfolio DDiversification reduces the portfolios expected return because it reduces a portfolios total risk 27Your customer is the applicant for a documentary creditWhich of the following points would appear t
25、o be illogical if they appeared on the application form? _ AInvoice price shown as FOB ， bills of lading to be marked freight paid BLast date for shipment one week before expiry date CInvoice price shown as C&F， but no insurance document requested DNo mention of the latest date of shipment 28Portfol
26、io theory as described by Markowitz is most concerned with _ Athe effect of diversification on portfolio risk Bthe elimination of systematic risk Cactive portfolio management to enhance return Dthe identification of unsystematic risk 29Commercial bank deposits with the central bank are part of the b
27、anks _ Anet worth Bdemand deposits Cloan portfolio Dreserves 30Foreign trade can be conducted on the following terms except for _ Aopen account Bdocumentary collection Cdocumentary credits Dpublic bonds 31risk for a security held in a diversified portfolio is _ Aspecific risk Bstandard deviation of
28、returns Creinvestment risk Dcovariance 32The security market line depicts _ Aa securitys expected return as a function of its systematic risk Bthe market portfolio as the optimal portfolio of risky securities Cthe relationship between a securitys return and the return on an index Dthe complete portf
29、olio as a combination of the market portfolio and the riskfree asset 33The key factor limiting how much a commercial bank has immediately available to lend is the amount of its _ Ademand deposits Bexcess reserves Cvault cash Dsavings deposits 34A description of the current international monetary sys
30、tem is as follows ：_ Aa free floating system Ball currencies are pegged （fixed in price ） to another currency or to a basket （group） of currencies Csome currencies are pegged and some float， but few remain fixed at the same rate for very long Dall currencies float within an agreed upon range of one
31、another 35In a standard spot exchange transaction， a Thursday deal is settled on _ if the day is a business day of banks AFriday BSaturday Cthe following Monday Dthe following Tuesday 36Open market operations are _ Athe tool used most often by the central bank Bseldom used by the central bank Cused
32、more than the discount rate but not nearly as often as changes in reserve requirements by the central bank Dused by the central bank only during inflationary periods 37Given US interest rates at 200% and Japanese interest rates at 100% for the same period ， where would the Interest Rate Parity Theor
33、y expect the USD/JPY exchange rate most likely to trend toward given a current spot exchange rate of 13400? _ A13500 B13400 C13200 DIt cannot be determined 38On October 1 ， 2000， ABC CoLtd loaned XYZ Store $300 000， receiving in exchange a ninemonth， 12% note receivableABC ends its fiscal year on De
34、cember 31， and makes adjusting entries to accrue interest earned on all notes receivableThe interest earned on the note receivable from XYZ during 2001 will amount to _ A$9000 B$18000 C$27000 D$36000 39In terms of daily volume， _ is the largest traded financial market in the world Athe stock market
35、Bthe mutual fund market Cthe bond market Dthe foreign exchange market 40Which of the following practices contributes to efficient cash management? _ ANever borrow money maintain a cash balance sufficient to make all necessary payments BRecord all cash receipts and cash payments at the end of the mon
36、th when reconciling the bank statements CPrepare monthly forecasts of planned cash receipts， payments ， and anticipated cash balances up to a year in advance DPay each bill as soon as the invoice arrives 41 The danger to the exporter in open account trading is that by surrending the shipping documen
37、ts to the importer， he _ control of the goods before he has obtained payment for them Ais in Bloses Cretains Dgives up 42The primary purpose of showing special types of events separately in the income statement is to _ Aincrease earnings per share Bminimize the income taxes paid on the results of on
38、going operations Cprevent unusual losses from recurring Dassist users of the income statement in evaluating the profitability of normal， ongoing operations 43If commercial banks have ample excess reserves ， a lower discount rate will _ Aencourage them to borrow more Bencourage them to raise interest
39、 rates on loans Chave little impact on bank behavior Dincrease bank reserves 44A bill of lading is a receipt for goodsWhen is a bill of lading issued? _ AWhen the shipper makes up the order BWhen the carrier receives the goods CWhen the carrier delivers the goods to the consignee DWhen the manufactu
40、rer produces the goods 45ABC Co Ltd sold marketable securities costing $80 000 for $92 000 cashIn the company s income statement and statement of cash flows ， respectively， this will appear as _ Aa $12 000 gain and a $92 000 cash receipt Ba $92 000 gain and a $80 000 cash receipt Ca $12 000 gain and
41、 a $80 000 cash receipt Da $92 000 sale and a $92 000 cash receipt 46Which of the following central bank actions would be appropriate to combat rapid inflation? _ AA reduction in the discount rate BA reduction in reserve requirements CA cut in taxes DA sale of government securities 47In a currency p
42、air ， the first currency is referred to as _ and the second as _ Athe base currencythe counter currency Bthe quote currencythe base currency Cthe base currencythe exchange currency Dthe trade currencythe base currency 48What is the expected return of a zerobeta security? _ AMarket rate of return BZe
43、rorate of return CRisk free rate of return DNegative rate of return 49Capital asset pricing theory asserts that portfolio returns are best explained by _ Aeconomic factors Bsystematic risk Cspecific risk Ddiversification 50The_ informs the beneficiary that another bank has issued a credit in his fav
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