2010FECT模拟试题及重要单词词组.doc

2010FECT模拟试题11. Usually the low interest rate currency trades at a _ to the high interest rate currency in the forward market.A. premiumB. parC. discountD. bar2. Which of the following statements about standby letters of credit is true? _.A. They can serve as a guarantee to a buyer against a seller defaultingB. They are contrary to the general rule that letters of credit may only be used for the actual movement of goodsC. They are unlike a tender (or other) bond in their legal standing and method of operationD. They are unlike a tender bond with its fixed expiry date3. The most liquid of all assets is _.A. the stock of commercial banksB. M 1C. intelligenceD. the debt of major corporations4. Beta and standard deviation differ as risk measures in that beta measures _.A. only unsystematic risk, while standard deviation measures total riskB. only systematic risk, while standard deviation measures total riskC. both systematic and unsystematic risk, while standard deviation measures only unsystematic riskD. both systematic and unsystematic risk, while standard deviation measures only systematic risk5. What information would you find in a statement of cash flows that you would not be able to get from the other two primary financial statements? _.A. Cash provided by or used in financing activitiesB. Cash balance at the end of the periodC. Total liabilities due to creditors at the end of the periodD. Net income6. An analyst estimates that a stock has the following probabilities of return depending on the state of the economy:State of economy Probability Return Good 0.1 15% Normal 0.6 13% Poor 0.3 7% The expected return of the stock is _.A. 7.8%B. 11.4%C. 11.7%D. 13.0%7. According to the rules of debit and credit for balance sheet accounts _.A. increases in asset, liability, and owners equity accounts are recorded by debitsB. decreases in asset and liability accounts are recorded by creditsC. increases in asset and owners equity accounts are recorded by debitsD. decreases in liability and owners equity accounts are recorded by debits8. Individuals will accept the medium of exchange in return for goods and services only if they are confident that _.A. the inflation rate is zeroB. it possesses intrinsic valueC. they can pass it on to othersD. they can exchange it for gold9. When a countrys currency appreciates, the countrys goods abroad become _ and foreign goods in that country become _.A. cheaper. more expensiveB. more expensive. cheaperC. cheaper.cheaperD. more expensive. more expensive10. A US company is bidding for a contract in China. Its Chinese customer asks for a performance bond. What is the most likely course of action? _.A. It asks its bank to issue a tender bond which can be converted into a performance bondB. It gives up its bidC. It consults its bank about issuing a standby letter of creditD. It asks its bank to issue a performance bond11. ABC Co. Ltd. has a $3 500 account receivable from XYZ Store. On March 20, XYZ makes a partial payment of $2 100 to ABC. The journal entry made on Mdrch 20 by ABC to record this transaction includes _.A. a debit to the cash received account of $2 100B. a credit to the Accounts Receivable account of $2 100C. a debit to the Cash account of $1 400D. a debit to the Accounts Receivable account of $1 40012. Intervention in the foreign exchange market means the government _.A. restricts individuals from buying and selling foreign exchangeB. restricts the importation of certain goodsC. or central bank buys or sells foreign exchangeD. devalues the currency in the foreign-exchange market13. Which of the following is not a form of countertrade? _.A. CounterpurchaseB. Buy-backC. OffsetD. Balance trade14. A credit to a revenue account _.A. decreases revenuesB. increases equityC. decreases equityD. increases assets15. If the government guaranteed that anyone wishing a job would be provided one, the likely result would be _.A. massive layoffsB. an increase in the money supplyC. an increase in inflationary expectationsD. the development of a barter system16. Given $100 000 to invest, what is the expected risk premium in dollars of investing in equities versus risk-free T-bills(U.S. Treasury bills) based on the following table? _.Action Probability Expected Return Invest in equities 0.6 $50 OOP 0.4 -$30000 Invest in risk-free T-bill 1.0 $5000 A. $20000 B. $18000 C. $15000 D. $1300017. Economists assume that most people take risks _.A. because doing so is excitingB. only when they have no riskless alternativeC. very infrequentlyD. if they are compensated for taking the risks18. The Phillips Curve shows the relationship between _.A. aggregate demand and aggregate supplyB. interest rates and inflationC. recessions and boomsD. inflation and the unemployment rate19. In a fixed exchange rate system, speculative selling of a currency is based on anticipation of .A. appreciationB. devaluationC. a foreign trade surplusD. interest rate increase20. A collecting bank is employed by _.A. the principalB. the remitting bankC. the drawerD. the drawee, who is its customer1.C 2.A 3.B 4.B 5.A 6.B 7.D 8.C 9.B 10.C 11.B 12.C 13.D 14.B 15.C 16.D 17.D 18.D 19.B 20.B宏观经济的 macro economic通货膨胀 inflation破产 insolvency有偿还债务能力的 solvent合同 contract汇率 exchange rate紧缩信贷 tighten credit creation私营部门 private sector财政管理机构 fiscal authorities宽松的财政政策 slack fiscal policy税法 tax bill财政 public finance财政部 the Ministry of Finance平衡预算 balanced budget继承税 inheritance tax货币主义者 monetarist增值税 VAT (value added tax)收入 revenue总需求 aggregate demand货币化 monetization赤字 deficit经济不景气 recession a period when the economy of a country is not successful, business conditions are bad, industrial production and trade are at a low level and there is a lot of unemployment 经济好转 turnabout复苏 recovery成本推进型 cost push货币供应 money supply生产率 productivity劳动力 labor force实际工资 real wages成本推进式通货膨胀 cost-push inflation需求拉动式通货膨胀 demand-pull inflation双位数通货膨胀 double- digit inflation极度通货膨胀 hyperinflation长期通货膨胀 chronic inflation治理通货膨胀 to fight inflation最终目标 ultimate goal坏的影响 adverse effect担保 ensure贴现 discount萧条的 sluggish认购 subscribe to支票帐户 checking account货币控制工具 instruments of monetary control 借据 IOUs(I owe you)本票 promissory notes货币总监 controller of the currency拖收系统 collection system支票清算或结算 check clearing资金划拨 transfer of funds可以相信的证明 credentials 改革 fashion被缠住 entangled货币联盟 Monetary Union再购协议 repo精明的讨价还价交易 horse-trading欧元 euro公共债务 membership criteria汇率机制 REM储备货币 reserve currency劳动密集型 labor-intensive股票交易所 bourse竞争领先 frontrun牛市 bull market非凡的牛市 a raging bull规模经济 scale economies买方出价与卖方要价之间的差价 bid-ask spreads期货（股票） futures经济商行 brokerage firm回报率 rate of return股票 equities违约 default现金外流 cash drains经纪人佣金 brokerage fee存款单 CD(certificate of deposit营业额 turnover资本市场 capital market布雷顿森林体系 The Bretton Woods System经常帐户 current account套利者 arbitrager远期汇率 forward exchange rate即期汇率 spot rate实际利率 real interest rates货币政策工具 tools of monetary policy银行倒闭 bank failures跨国公司 MNC ( Multi-National Corporation)商业银行 commercial bank商业票据 commercial paper利润 profit本票，期票 promissory notes监督 to monitor佣金（经济人） commission brokers套期保值 hedge有价证券平衡理论 portfolio balance theory外汇储备 foreign exchange reserves固定汇率 fixed exchange rate浮动汇率 floating/flexible exchange rate货币选择权（期货） currency option套利 arbitrage合约价 exercise price远期升水 forward premium多头买升 buying long空头卖跌 selling short按市价订购股票 market order股票经纪人 stockbroker国际货币基金 the IMF七国集团 the G-7监督 surveillance同业拆借市场 interplant market可兑换性 convertibility软通货 soft currency限制 restriction交易 transaction充分需求 adequate demand短期外债 short term external debt汇率机制 exchange rate regime直接标价 direct quotes资本流动性 mobility of capital赤字 deficit 本国货币 domestic currency外汇交易市场 foreign exchange market国际储备 international reserve利率 interest rate资产 assets国际收支 balance of payments贸易差额 balance of trade繁荣 boom债券 bond资本 capital资本支出 capital expenditures商品 commodities商品交易所 commodity exchange期货合同 commodity futures contract普通股票 common stock联合大企业 conglomerate货币贬值 currency devaluation通货紧缩 deflation折旧 depreciation贴现率 discount rate归个人支配的收入 disposable personal income从业人员 employed person汇率 exchange rate财政年度fiscal year自由企业 free enterprise国民生产总值 gross national productbig macs,big/large-cap stock,mega-issue 大盘股offering,list 上市bourse 证交所corporate champion 龙头企业Shanghai Exchange 上海证交所pension fund 养老基金mutual fund 共同基金hedge mutual fund 对冲式共同基金share 股票valuation 股价underwriter 保险商government bond 政府债券saving account 储蓄帐户equity market 股市shareholder 股东delist 摘牌mongey-loser 亏损企业inventory 存货traded company,trading enterprise 上市公司stakeholder 利益相关者transparency 透明度market fundamentalist 市场经济基本规则damage-contral machinery 安全顾问efficient market 有效市场intellectual property 知识产权opportunistic practice 投机行为entrepreneur 企业家cook the book 做假帐regulatory system 监管体系portfolio 投资组合money-market 短期资本市场capital-market 长期资本市场volatility 波动diversification 多元化real estate 房地产option 期权call option 看涨期权put option 看跌期权merger 并购arbitrage 套利Securities and Exchange Commission 美证券交易委员会dollar standard 美元本位制budget 预算deficit 赤字bad debt 坏帐macroeconomic 宏观经济fiscal stimulus 财政刺激a store of value 保值transaction currency 结算货币forward exchange 期货交易intervention currency 干预货币Treasury bond 财政部公债current-account 经常项目pickup in rice 物价上涨Federal Reserve 美联储inflation 通货膨胀deflation 通货紧缩tighter credit 紧缩信贷monetary policy 货币政策foreigh exchange 外汇spot transaction 即期交易forward transaction 远期交易option forward transaction 择期交易swap transaction 调期交易quote 报价settlment and delivery 交割buying rate 买入价selling rate 卖出价spread 差幅contract 合同at par 平价premium 升水discount 贴水direct quoation method 直接报价法indirect quoation method 间接报价法dividend 股息domestic currency 本币floating rate 浮动利率parent company 母公司credit swap 互惠贷款venture capital 风险资本book value 帐面价值physical capital 实际资本IPO(initial public offering) 新股首发；首次公开发行job machine 就业市场welfare capitalism 福利资本主义collective market cap 市场资本总值golbal corporation 跨国公司transnational status 跨国优势transfer price 转让价格consolidation 兼并leverage 杠杆Federal Reserve 美联储financial turmoil/meltdown 金融危机file for bankruptcy 申请破产bailout 救助take over 收购buy out 购买(某人的)产权或全部货物go under 破产take a nosedive （股市）大跌tumble 下跌falter 摇摇欲坠on the hook 被套住shore up confidence 提振市场信心stave off 挡开, 避开,liquidate assets 资产清算at fire sale prices 超低价sell-off 证券的跌价14. lame duck 跛脚鸭：冒险失败的投机者或股票交易中资不抵债的人。15. long leg 长脚：期权价差合同中表明购买基础证券许诺的部分。16. Mother Goose鹅妈妈：募股章程简述，位于募股说明书的最前面。17. poison pill毒丸：公司发行新认股权证或对优先股授权，使收购公司的成本极大，从而阻止不友好的收购兼并企图。18. shark watcher鲨鱼监察者：专门观察和监视接管活动的公司。19. sunrise industry 朝阳工业：有很大增长潜力及出口潜力的、高风险的高科技企业。20. sunshine trading 阳光贸易：无障碍地从事大宗贸易。21. turtle blood 龟血：流动性很低，不可能很快升值的证券。22. war babies 战争宝宝：以为美国国防部制造产品为业务的公司的证券。23. white elephant 白象：需要高额成本维护而实际上无利可图的资产或损失已成定局的资产。24. white knight 白色骑士：为鼓励另一家企业进行成功的公司兼并，一个善意的第三方加入以击退另一竞买者。25. window dressing 窗口包装：为使财务报表表现出比实际情况要好而采用的一种会计方法，一般是一种舞弊。26. yellow knight 黄色骑士：一家公司企图吞并另一家公司时两家发生的兼并争执。1. air pocket 气囊：指一种股票的显而易见的极其虚弱性。2. backdoor listing 后门上市：一家公司因其自身未能符合交易所上市规定，便买进一个上市公司，将自身并入其中而使自己能够上市。3. basket purchase一篮子购买：以一种价格购买一组资产。然而在记帐时，每件物品可以单独记入，并对每件资产指定一个成本。4. bear trap空头陷阱：当股票下跌时，引起大量抛售，然后价格又上涨。5. bed and breakfast deals床头和早餐交易：卖空骗局。个人或公司根据事先安排的交易，先卖出股票，继而在第二天买回，以此形成一个抵消资本收益的税损。本做法仅存于英国。6. bottom fisher 底部钓鱼人：寻找那些价格已跌至最底点，即将发生转机的商品或股票投资者。在有些情况下指购买破产或濒临破产组织的股票或债券的人们。7. butterfly spread 蝴蝶差：同时在相同或不同的市场上买或卖三种期货合同，产生利润和借贷权。8. Chinese Wall 中国墙：不可逾越的障碍物，用以阻止华尔街商行的交易区不公正地使用投资银行家们从客户那里秘密获得的信息。9. fallen angle 下坠天使：大公司的高价证券因某些不利的负面消息而使价格突然下跌。10. golden handcuffs 金手铐：将经纪人和经纪人事务所连结起来的合同；是经纪业对经纪人从一个公司到另一个公司频繁变动的反应。一般包括将其受雇时接受的大部分报酬返还原公司的协议。11. gold brick假金砖：毫无价值的带有欺诈特点的证券。12. gray knight 灰骑士：公司收购中并非收购对象所寻求的投机性二次投标者，只想利用收购对象和原投标者之间的问题而牟利。13. graveyard market墓地市场：一种在其中的不能出来，在外面的不能进去的证券市场。Assets、Liabilities 和 Owners Equity这三个词分别是资产、负债和所有者权益，是会计等式的三个要素。Assets 这个词表示资产时一定要用复数形式，即词尾要有 s。如果不用复数形式，就成为宝物，天赋、技能的意思。例如：1. Assets are properties that are owned and have monetary values；for instance，cash，inventory，buildings，equipment.资产是指企业所拥有的、具有货币价值的财产，如现金、存货、建筑物、设备。2. Assets are the economic resources that are owned or controlled by a business and can be expressed in monetary units.资产是由企业拥有或控制并能用货币计量的经济资源。3. Assets can be classified into current assets and non-current assets .资产可以划分为流动资产和非流动资产。Liabilities 是liability 的复数形式。它的意思是法律上的责任、义务。如 liability for an accident （肇事的责任）；liability to pay taxes （纳税的义务）。只有其为复数形式 liabilities 时才表示负债、债务的意思。例如1. Liabilities are the obligations or debt that a business must pay in money or services at some time in the future.负债是指将来需用货币或服务偿还的债务或履行的义务。2. Liabilities are amounts owned to outsiders, such as notes payable, accounts payable, bonds payable.负债是欠外部的数额，如应付票据、应付帐款、应付债券。Owners equity 是由 owner (所有者、业主)和equity （权益）构成为业主权益。例如：1. Owners equity represents the owners interest in or claim upon a business net assets which is the deference between the amount of assets and the amount of liabilities.业主权益代表业主对企业净资产的权益或要求权，净资产是指企业的资产总额与负债之间的差额。2. Capital is the interest of the owners in an enterprise. Also known as owners equity.资本是企业所有者的利益，也称为业主权益。3. Owners equity include owner s investment in a business and accumulated operating results since the beginning of the operation.业主权益包括业主的投资以及企业自开业以来积累的经营成果。上述会计要素相互之间的关系用一个简单的数学公式来表示，就是会计恒等式：Assets=Liabilities+Owners equity资产=负债+业主权益Debit、Credit 和 Double EntryDebit 和credit 就是会计复式记帐法中常用的两个记帐符号借和贷。Debit 的意义比较单纯，就是簿记上的借方。但是，很容易与另一个词debt 混淆。debt比debit只少一个字母I，而且意思也相近，有借款的意思，如the national debt（国债）。 Credit 的汉语意思比较多，有信用、信誉、名声、名誉的意思，还有挂帐、赊帐的意思，在簿记上就是贷方意思由于这两个词汇在会计学上总是一起出现，就把他们放到一起来举例说明，加深印象。1.When an amount is entered on the left of an account，it is a debit，and the account is said to be debited . The abbreviation for debit is Dr.当一个数额记在帐户的左边，它就是借方记录，称这个帐户被借记。“借方”的缩写是“Dr.”。2.When an amount is entered on the right side ，it is a credit，and the account is said to be credited. The abbreviation for credit is Cr.当一个数额记在帐户的右边，它就是贷方记录，称这个帐户被贷记。“贷方”的缩写是“Cr.”。3.Making an entry in theamount column on the left hand side of an account means Debit（abbreviated Dr.）and to the contrast, means Credit(abbreviated Cr.).记入帐户的左边金额栏称为“借记”该帐户（简写为Dr），与此相反，则为“贷记”该帐户（简写为Cr.）。4.By convention ,assets and expense increases are recorded as debits while liability, capital and income increases are recorded as credits.根据惯例，资产和费用的增加被记为借项，而负债、资本和收入的增加被记为贷项。5.Assets and expense decreases are recorded as credits, while liability、capital and income decreases are recorded as debits.资产和费用的减少被记为贷项，而负债、资本和收入的减少被记为借项。6.Where there are only two accounts affected, the debit and credit amounts are equal. If more than two accounts are affected, the total of the debit entries must equal the total of the credit entries.在只有两个帐户被影响时，借贷双方的数额是相等的，如果涉及两个以上帐户时，借项的总数必须与记入贷项的总数相等Double entry（复式记帐）是会计学上的专有词汇。例如：In double entry accounting，which is in almost universal use, there are equal debit and credit entries for every transaction.在复式记帐会计（几乎普遍使用）中，每笔交易的借方和贷方记入的数字相等。Ledgers 和 JournalsLedgers 在簿记上是分类帐的意思，可以和其他词汇搭配，构成许多会计词汇。如ledger accounts（分类帐户）、general ledger（总分类帐）、subsidiary ledger（明细分类帐）等。例如1. Ledger accounts are used to record business transactions effect on an accounting entity.分类帐户被用来记录交易对会计主体的影响。2.A ledger account is simply a record of changes （increase and decrease）and balances in value of a specific accounting item.分类帐户不过是特定会计项目价值的变动（增加与减少）和结余的记录。3.The general ledger is the book used to list all the accounts established by an organization.总分类帐是一本列出一个单位所设立的全部帐户的帐本。4.Further simplification of the general ledger is brought about by the use of subsidiary ledger.使用明细分类帐使总分类帐更加简化明了。5.The advantages of subsidiary ledger are as following：（1）reduces ledger detail ；（2）permits better division of labor；（3）permits a different sequence of accounts；（4）permits better internal control。明细分类帐的优点如下；（1）减少分类帐的细节；（2）使劳动分工更合理；（3）允许不同的帐户排序（4）便于更好地内部控制。Journal 比较常用的意思是日记、日志；杂志、刊物，如keep a journal （记日志）、a ships journal (航海日志)，a monthly journal (月刊)，单词 diary 也有日记的意思，但journal 比 diary 更强调正式记录。Journal 在会计词汇上的意思是日记帐。例如：1.In a western accounting system ,the information about each business transaction is initially recorded in an accounting record called a Journal.在西方会计体系中，有关每笔经济交易的资料最初是记在一本叫做“日记帐”的会计帐上。2.A journal is a chronological(arrange in order of time ) record of business transactions.日记帐是对经济交易的序时（即按时间的顺序）记录。3.In a journal entry, the debits and credits for given transaction are recorded together, but when the transaction is recorded in the ledger, the debits and credits are entered in different accounts.在日记帐上记帐时，既定交易的借方和贷方一起被记录，但在分类帐记录中，一笔交易的借方和贷方进入不同的帐户中。4.A journal may be a general journal or it may be a group of special journals.日记帐可以是一本通用日记帐，也可以是一组特种日记帐Current assets、fixed assets 和 Current liabilities Current 是一个很有意思的词汇。它既可以是形容词，也可以是名词。作为形容词，current 意思是“通用的、流通的，现在的”，如 current money（通货），current English（现代英语），current fashion（目前流行的风尚）；作为名词，current 的意思是水流、气流，电流，动向、潮流，如 the current of a river （河的水流），the cold current （寒流），a direct current （直流电），the current of public opinion（舆论的动向）在这里，还要特别提到英国的两种存款 current account （活期存款，也相当于美国银行中的 checking account ）和deposit account （储蓄存款，也相当于美国银行中的 savings account ）。如果你到英国银行对柜员说：Cou