金融英语的单选题

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 accountC. To act as a store of valueD. 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 surplusB. the exchange rate C. the money price D. the currency rate 3. Market risk refers to the risk of_.A. financial prices fluctuations B. defaultC. fraudD. deferred payments 4. Which of the following is not among the generally accepted accounting principles? _.A. Cash basis B. PrudenceC. 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 securityC. An international trade settlement system biased in favour of importersD. All of the above 6. Holding a group of assets reduces risk as long as the assets _.A. are perfectly correlated B. are completely independentC. 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. debtC. equityD. asset8. 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 increaseC. supply of sterling will fall, demand for sterling will increase, and the exchange rate will riseD. 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. banks letter of guaranteeC. bankers draft D. documentary credit 11. Which of the following statements is not true of central banks? _.A. They pay the governments salaries B. They always undertake the regulation of the banking system C. They are always the lender of last resortD. 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 offsetC. If X and Y are perfectly positively correlated, the risk of the portfolio is neither reduced nor increasedD. 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 advanceFrom an exporters 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 reservesC. 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 statementC. The accounting statementD. 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 matchedC. Because the interbank market uses LIBORD. 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 employmentD. 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 1.6342C. Short 5 941 521.90 long $9 710 000 at 1.6342D. 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.A11.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 currencyB. Import of goods priced in RMBC. Export of goods priced in RMBD. Export of goods priced in a foreign currency where the rate of exchange has been agreed in the sales contract2. Incoterms address _.A. the risks of loss between the parties B. breaches of contractC. ownership rights D. type of ship used3. Which of the following is or was an example of representative full-bodied money? _.A. Debt money B. ATS accountC. Gold certificate D. Demand deposit4. Risks associated with investing in foreign countries are the following except _.A. voting risk B. exchange rate riskC. country risk D. political risk5. 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; ImporterC. 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 loanB. be unable to make the interest payments on his loanC. go bankruptD. all of the above7. What is the reserve requirement? _.A. The requirement of a bank to deposit a percentage of moneyB. The requirement for deposits in cashC. The percentage of a banks deposits in the form of cash reservesD. The requirement for cash reserves8. A draft is like a check that can be endorsed but it isnt a title to goods, like _.A. a bill of lading B. an inspection certificateC. 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 dearB. keeps exchange rates consistent across marketsC. has been outlawed by the International Monetary FundD. cannot occur where there is a forward exchange marketE. both A and B10. What is the purpose of comparing the ledger entries with the documents? _.A. To prove that all the transactions have made for the right amountsB. To prove that all the accounts have been posted correctly C. To check the number of all the debits and creditsD. To post the right accounts11. What is Dollar Cost Averaging? _.A. A brokerage account that gives investors cheap tradesB. The idea that prices tend to rise over the long termC. Buying stocks that are below average in valueD. A flat quarterly mutual fund fee averaged throughout the yearE. A strategy of investing money on a regular basis to take advantage of market fluctuations12. From a Chinese banks 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 accountB. a vostro accounta mirror accountC. a mirror accounta nostro accountD. a nostro account. a vostro account 13. Under FOB terms the bill of lading would state goods _.A. loaded on board, freight payable at destinationB. loaded on board, freight paid C. received for shipment, freight paidD. received for shipment, freight payable at destination14. 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 capitalC. investments D. advances to customers15. International payments and other messages are often sent through an international computer network called _.A. CHAPS B. BACSC. SWIFT D. EIMT16. Low levels of uncertainty (risk) are associated with .A. stocks B. stock optionsC. higher potential returns D. lower potential returns 17. Government securities would appear on a commercial banks balance sheet as _.A. an asset B. reservesC. part of net worth D. a liability18. A major problem with a fixed exchange rate system is that when countries run foreign trade deficits, _.A. there is no self-correcting mechanismB. currency values become unstableC. the value of the reserve currency declinesD. world inflation increases19. 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. threeC. two D. five20. Regulation of the money supply and financial markets is referred to as _.A. fiscal policy B. income policyC. 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 increaseB. currency automatically depreciates C. exports automatically declineD. currency automatically appreciates2. Which of the following statements is not true of accounting? _.A. Accounting is language of businessB. The user of accounting includes business, government, nonprofit organizations and individuals.C. Accounting is useful for decision makingD. Accounting is an end rather than a means to an end 3. The term foreign exchange is best defined by the following statement: it is _.A. the rate of exchange between two currenciesB. synonymous with currency exchangeC. the place in which foreign currencies are exchangedD. an instrument such as paper currency, note, and check used to make payments between countries4. What is Asset Allocation? _.A. Buying assets of different types, risks, and potential returns B. Buying assets with more than one brokerage accountC. The ability to buy mutual fundsD. Buying stocks for the long term5. External users of financial accounting information include all of the following except .A. suppliers B. line managers C. general public D. creditors6. CAPM is short for .A. Capital Asset Pricing Model B. Cash Added Price MatrixC. Capital Asset Pricing Matrix D. Cost and Price Model7. Liquidity measures the _.A. value of an assetB. ease with which an asset can be exchanged C. usefulness of an assetD. economic and monetary reliability of an asset compared with other assets8. In a letter of credit transaction, the bank pays the seller against _ which agree(s) with_.A. documents. the credit B. merchandise. the contractC. documents. the contract D. merchandise.the buyer ordered9. A barter economy is one that does not possess _.A. any wealthB. printed currencyC. a medium of exchangeD. gold10. Which of the following is not true of airway bill? _.A. When goods are delivered to the airline, the airway bill is signed by them or their agents as a receipt of the goodsB. Airway bill is a document of title to the goodsC. Airway bill may also provide evidence of despatch of the goods where it has been stamped indicating details of the relevant flightD. None of the above 11. The value of money varies _.A. directly with the unemployment rate B. directly with the price levelC. inversely with the unemployment D. inversely with the price level12. The economics news on the television reports that the dollar has strengthened relative to the Japanese yen. This means that _.A. the dollar has depreciated relative to the yenB. the dollar can now purchase more yen C. the yen can now purchase more dollarsD. the US trade balance with the Japanese economy has improved13. The theory of international exchange that holds that exchange rates are set so that the price of similar goods in different countries is the same is the _.A. price feedback theory B. trade feedback theoryC. purchasing power parity theory D. J-curve theory14. According to the optimal portfolio theory, where should portfolios lie? _.A. On the efficient frontier B. Above the efficient frontierC. Under the efficient frontierD. Anywhere, as long as the portfolio is diversified15. Which of the following is not a user of management accounting information? _.A. Store manager B. Creditor C. CEO D. CFO16. Based on the scenarios below, what is the expected return for a portfolio with the following return profile? _.Market ConditionbearNormalBullProbability020.305Rate of return25%10%24%A. 4% B. 10%C. 20% D. 25%Use the following expectations on Stocks X and Y to answer questions 17 through 19 (round to the nearest percent).Bear MarketNormal MarketBull MarketProbabilityStock X_-20%18%50%Stock Y-15%20%10%17. Financial markets serve to channel funds from _.A. the government to contractors B. investors to consumersC. consumers to producers D. savers to investors 18. The agreements that were reached at the Bretton Woods conference in 1944 established a system .A. of essentially fixed exchange rates under which each country agreed to intervene in the foreign exchange market when necessary to maintain the agreed-upon value of its currency B. of floating exchange rates determined by the supply and demand of one nations currency relative to the currency of other nationsC. that prohibited governments from intervening in the foreign exchange marketsD. in which the values of currencies were fixed in terms of a specific number of ounces of gold, which in turn determined their values in international trading19. Which of the following statements is not consistent with generally accepted accounting principles relating to asset valuation? .A. Assets are originally recorded in accounting records at their cost to the business entityB. Accountants prefer to base the valuation of assets upon objective, verifiable evidence rather than upon appraisals or personal opinionC. Accountants assume that assets such as office supplies, land and buildings will be used in business operations rather than sold at current market pricesD. Subtracting total liabilities from total assets indicates what the owners equity in the business is worth under current market conditions20. A fiscal expansion in the UK _ the pound sterling.A. tends to appreciate B. tends to depreciateC. does not affect the price of D. has no predictable effect on the price of答案：1.B 2.D 3.D 4.A 5.B 6.A 7.B 8.A 9.C 10.B 11.D 12.B 13.C 14.A 15.B 16.B 17.A 18.A 19.D 20.A（四）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 creditB. Open accountC. Documentary collection D/AD. None of the above3. 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 solventB. Total liabilities increased by $7 000C. Total assets increased by $12 000D. This transaction had no immediate effect on the owners equity in the business4. Which of the following terms of payment will entirely eliminate country risk? _.A. Revocable documentary creditsB. Confirmed Irrevocable documentary credits C. Documentary collection D/PD. Documentary collection D/A5. 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 FebruaryB. Presentation on Monday 25 February with the bill of lading dated Sunday 24 FebruaryC. Presentation on Tuesday 26 February with the bill of lading dated Sunday 24 FebruaryD. Presentation on Friday 22 February with the bill of lading dated Sunday 29 January6. 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 beneficiaryC. Second beneficiary D. None of the above8. A transaction caused a $10