金融英语模拟题2.doc

Test2Part One ListeningSection One (10%)Directions: In this section you will hear 10 short statements. Each statement will be spoken only once. After each statement there will be a pause. During the pause, you must read the four suggested answers marked a, b, c and d, and decide which is the best answer.Now you will hear the example:She went to the bank with Mr. Smith.You will read:A. She went home. C.She went to the bank.B. She liked Mr. smith.D.She went to Mr. Smiths house.Statement C, She went to the bank is the closest in meaning to the statement She went to the bank with Mr. Smith. Therefore, you should choose answer C. Now listen to the statements. 1.A. Financial markets must support sound financial institutions. B. Sound financial institutions are made by financial markets.C. Financial markets should be backed by strong financial institutions.D. Financial markets are sound because of financial institutions. 2. A. US dollar is going higher vs. Japanese Yen.B. US dollar is going higher vs. Pound Sterling. C. US dollar is going lower vs. Japanese Yen.D. US dollar is going lower vs. Deutsche Mark. 3. A. Please remit us the bill amount through Barclays bank on due date.B. Please claim the bill amount on Barclays Bank on due date.C. Please pay the bill amount to Barclays Bank.D. Please inform Barclays Bank to reimburse us on due date.4. A. The Peoples Bank of China may not provide loans for organizations or individuals. B. The Peoples Bank of China may not give financial support to enterprises. C. The Peoples Bank of China may act as a financial guarantor fororganizations or individuals. D. The Peoples Bank of China may not effect a financial guarantee forindividuals or organizations. .5. A. Policy is the only factor that affects stock prices.B. Policy is one factor that affects stock prices.C. Monetary policy is one of the factors that affect stock prices.D. Monetary policy is the only factor that affects stock prices.6. A. I wish to cash some cheques.B. I wish to cash some travelers cheques.C. I wish to pay cash for my expenses here.D. I wish to pay for my travellers cheques here7.A. The L/C will be confirmed by our bank.B. Our banks agent will confirm the L/C.C. The credit will be opened by our banks agent.D. Our branch in San Francisco will confirm the L/C. 8.A. U.S. dollar is dearer.B. U.S. dollar is higher.C. Japanese yen is weaker.D. Japanese yen is stronger.9. A. The draft is a sight one.B. The draft is payable by Citibank.C. The bill is drawn on Citi Branch.D. The bill is not negotiable.10. A. We paid you early as required.B. Your documents came to us as required.C. Your documents have been correctly presented as required.D. You did not present the documents as required. Section Two (10%)Directions: In this section, you will hear 10 short conversations. At the end of each conversation a question will be asked about what was said. The conversations and questions will be spoken only once. During the pause, you must read the four suggested answers marked a, b, c, and d, and decide which is the best answer Now you will hear :M: Does our bank have a direct correspondent relationship with the Bradalys Bank?W:No, we dont. So we have to advise this L/C via another bank.Q: Which of the following is right?Now you will read:A. We can advise this L/C to the Bradlays Bank.B. The Bradlays Bank is our correspondent.C. The L/C has to be advised by a third bank.D. We should advise this L/C by ourselves.From the conversation we know that we have to advise this L/C via another bank. The best answer is C. Therefore you should choose answer C. 11. A. To apply for rolling over the loan for another period.B. To default on repayment.C. To repay it immediately.D. To apply for a new loan. 12. A. 827.28 B. 829.19 C. 826.71 D. Not mentioned. 13. A. He sold a house.B. He borrows some money from the man.C. He borrowed some money from the bank.D. He visited a new house. 14. A. She pays a visit to the bank.B. She deals with a transaction with her customer.C. She wants to check Parks cash and transactions of the day.D. She pays a visit to the Auditing Department. 15.A. About remitting money. B. About getting a bill of exchange.C. About discounting a bill of exchange. D. About quotation of buying rate. 16. A. she definitely accepted the request.B. She will not do what the man requested.C. She will use her car. D. She definitely refused the request.17. A. How to get a ticket to Paris. B. How to go to Paris.C. How to transfer money to Paris. D. How to fill the form.18. A. To open a current account. B. To open a savings account.C. To cash her cheques. D. To draw money from her savings account. 19.A. 5% B. 3% C. 8% D. 6% 20. A. The interest rate will be lowered B. The interest rate will be stable.C. The interest rate will increase. D. The interest rate will be floating.Section Three (10%)Directions: In this section, you will hear 3 short passages. At the end of each passage you will hear some questions about what was said. The passages and questions will be spoken only once. During the pause, you must read the four suggested answers marked a, b, c, and d, and decide which is the best answer Questions 21-23 are based on passage 1 21. A. 4:00 p.m. B. 5:30 p.m. C. 6:00 p.m. D. 6:30 p.m.22. A. He goes to concerts. B. He visits his friends.C. He meets his customers. D. He works at home. 23. A. The banks staff. B. The banks location.C. The banks long hours of services. D. The banks balance sheet. Questions 24-26 are based on passage 2 24. A. Short term loans without guarantees by banks.B. Long term loans without guarantees by their respective governments.C. Long term loans under guarantees by their respective governments.D. Medium term loans under guarantees by their respective banks.25. A. International banks. B. industrial nations.C. Syndicates of international banks. D. Developed countries.26. A. Yes, they are. B. No, they are not.C. Yes, they are. They represent unusual risk to banks.D. No, they are not. They represent usual risk to banks.Questions 27-30 are based on Passage 3 27.A. 146 B. 159 C. 194 D. 16828. A. US$ 32.1 billion B. US$ 37.4billion. C. US$ 27.3 billion. D. US$ 4.8 billion. 229. A. Allowing more foreign banks to do RMB business in Pudong.B. Extending the experimentation to Shenzhen.C. Increasing the limit on the RMB position of the foreign banks on a case-by-case basis.D. All of the above.30.A. To introduce new products and expertise.B. To improve efficiency in financial intermediation.C. To introduce more foreign capital into China.D. Both A and BPart two Reading Section One (10%)Directions: There are ten statements in this section. For each statement there are four choices marked A,B,C,D.You should choose the best answer.31. Which activities are not the investment banking activities? A. underwriting new issuesB. financial advisingC. dealing and brokingD. savingstaking 32. _is the purchase of one company by another using mainly borrowed funds. A. A horizontal mergerB. A leveraged buyoutC. A vertical mergerD. A MBO33. The bill of lading is evidence of ownership. It thus functions as a _. A. receipt for goodsB. contract for deliveryC. title documentD. negotiable instrument34. Liquidity _. A. is a measure of how quickly an item may be converted to foreign currenciesB. is a measure of how quickly an item may be converted to cashC. is a measure of how quickly an item may be converted to liabilitiesD. is a measure of how quickly an item may be converted to fixed capital 35. 35.Among various worries concerning the internet banking, the first and foremost is the problem of _. A. profitB. interestC. clientD. security36. According to the rules of debit and credit for balance sheet accounts _. A. decreases in asset, liabilities, and owners equity accounts are recorded by debitsB. increases in liabilities and owners equity accounts are recorded bycreditsC. decreases in liabilities and asset are recorded by creditsD. increases in asset and owners equity are recorded by debits37. _ consist of a simultaneous sale or purchase of currency. A. Spot transactionsB. Forward transactionsC. Option forward transactionsD. Swap transaction38. Cash inflows from financing activities for a bank exclude: _.A. receiving depositsB. issuance of equity securities (capital stock)C. issuance of debt securities ( bond, notes, mortgages)D. redemption of debt39. When a bank holds some valuables on behalf of its customer, the relationship between the bank and customer is _. A. debtor-creditorB. bailor-baileeC. principal-agentD. trustor-trustee 40. The red clause documentary credit is often used as a method of _.A. providing the seller with funds prior to shipmentB. providing the buyer with funds prior to shipmentC. providing the seller with funds after shipmentD. providing the buyer with funds after shipmentSection Two (10%)Directions: There are 10 blanks in the following passages. For each blanks there are four choices marked A, B, C, D. You should choose the best answer.Passage One Commercial banks _41_many functions, some central to their main role in the economy and others more peripheral. Although lending and deposit _42_have been the epicenter of commercial banking, the last few years have witnessed a _43_in both the types and the volume of banking services. This surge has _44_in part by government _45_,but most importantly by competitive pressures.41. A. do B. entailC. perform D. work42.A. allocating B. taking C. saving D. mobilizing43.A. increase B. improvement C. decrease D. surge44.A. been induced B. caused C. attributed D. been45.A. relaxation B. Control C. Regulation D. deregulationpassage Two There are generally several types of credits. A(n) _46_ guarantees payment to the beneficiary, provided that the credit terms and conditions are met and the standing of the advising bank in the beneficiarys country is sound. A(n) _47_ may be cancelled at any time up to the moment the advising bank pays. This type of credit is _48_ favorable to the exporter. There is a risk that goods may be shipped and the credit revoked before documents are presented to the advising bank. A(n) _49_ may not be cancelled or even amended without the consent of all the parties involved. This type of credit guarantees that no single party will revoke the contract already signed. A(n) _50_, like a commercial credit, is a promise by the issuer to honor the beneficiarys presentation of the credit.46.A. stand-by credit B. revocable credit C. irrevocable creditD. confirmed credit47.A. confirmed credit B. revocable credit C. irrevocable creditD. stand-by credit48.A. the most B. the least C. far D. much49.A. confirmed credit B. revocable credit C. irrevocable creditD. stand-by credit50.A. stand-by credit B. revocable credit C. irrevocable creditD. confirmed creditsection Three (10%)Directions: Read the following passages, and determine whether the sentences are Right or wrong. If there is not enough information to answer right or wrong. choose Doesnt say. Passage One Internet banking has many advantages for banks. It is much cheaper to service a customer who makes contact only by phone, interactive TV, computer or other terminals, doing without the expensive branch network. Nevertheless, with Internet banking, customers do much of the basic data inputting themselves, further saving staff time of banks. Banks can invest the saved resources of human power and capital on utilizing the information of its customers when they are transacting, i. e. to route, analyze, and integrate data into meaningful patterns. Processed customer information is and will remain to be an invaluable asset of banks. And there is an element of self selection by higher earning customers - the Internet banking customers tend to be those who are relatively wealthy and generate the banks profits. These advantages therefore suggest that the Internet is regarded as an increasingly important commercial tool by a growing number of banks.51. Internet banking services customers by phone, interactive TV, computer or other terminals.A. Right B.Wrong C.Doesnt say52. Internet banking can save human power and capital.A.Right B.Wrong C.Doesnt say53. Internet banking has many disadvantages for banks such as the risks and uncertainty of outcome.A.Righ t B.Wrong C .Doesnt sayPassage Two Revocable credit is the one which can be amended or cancelled at any time, but the issuing bank is bound to pay drawing under the credit negotiated by the advising bank or the transmitting bank prior to the receipt by it of the notice of revocation or of amendment. An irrevocable credit, however, carries the irrevocable undertaking of the issuing bank to pay all drawings made in terms of the credit. Such a credit can only be amended or cancelled with the consent of all parties to it, that is the applicant, the issuing bank, the intermediary bank, if any, and the beneficiary.Where the confirmation of an intermediary bank is added to an irrevocable letter of credit, the credit is a confirmed credit, or more exactly, a confirmed irrevocable credit, and such a confirmation constitutes a definite undertaking of the confirming bank in addition to the undertaking of the issuing bank.54. A revocable credit can be amended in any circumstances.A. Right B. Wrong C. Doesnt say55. An irrevocable confirmed credit gives the beneficiary a double assurance of payment.A. Right B. Wrong C. Doesnt say56. An irrevocable credit cannot be cancelled.A. Right B. Wrong C. Doesnt say57. Where the confirmation of intermediary bank is added to a revocable letter of credit, the credit is a confirmed revocable credit.A. Right B. Wrong C. Doesnt sayPassage ThreeThe source of foreign exchange for overseas investment by domestic entities are subject to review by the SAFE before the application for such investment is filed with the relevant government agencies.Profits or other foreign exchange income of Chinese investors from their overseas investment must be remitted home within eight months after the close of each local accounting year and surrendered or kept in foreign exchange accounts in accordance with the regulations. Unless otherwise approved by the SAFE, Chinese investors may not divert foreign exchange receipts to any other purposes or keep them abroad. Whenever an enterprise winds up its overseas business, the investor shall repatriate all of the assets.58. SAFE is the abbreviation of the Stated Administration of Foreign Exchange.A. Right B. Wrong C. Doesnt say59. When a corporation ends its overseas business, the investor shall repatriate all of the assets.A. Right B. Wrong C. Doesnt say60. Chinese investors cannot divert foreign exchange receipts to any otherpurposes or keep them abroad.A.Right B.Wrong C.Doesnt saysection Four (20%)Directions: There are 4 passages in this sections. Each passage is followed by some questions or unfinished statements. For each of them there are four choices marked A, B, C, D. You should choose the best answer.Passage OneA revolving documentary credit is one by which, under the terms and conditions thereof, the amount is renewed or reinstated without specific amendments to the documentary credit being required. The revolving documentary credit may be revocable or irrevocable, and may revolve in relation to time or value.In the case of a documentary credit that revolves in relation to time, e. g. which is initially available for up to USD15, 000. 00 per month during a fixed period of time, say, six months, the documentary credit is automatically available for USD15, 000. 00 each month irrespective of whether any sum was drawn during the previous month. A documentary credit of this nature can be cumulative or non-cumulative. If it is stated to be cumulative,any sum not utilised during the first period carries over and may be utilised during a subsequent period. If it is non- cumulative, any sum not utilised in a period ceases to be available, that is, it is not carried over to a subsequent period. It must be remembered that under this kind of documentary credit and following this example, the obligations of the issuing bank would be for USD90,000.00, i.e. six revolving periods each for USD15, 000. 00. Thus while the face value of the documentary credit is given as USD15, 000. 00 the total undertaking of the issuing bank is for the full value that might be drawn.In the case of a documentary credit that revolves in relation to value, the amount is reinstated utilisation within a given overall period of validity. The documentary credit may provide for automatic reinstatement immediately upon presentation of the specified documents, or it may provide for reinstatement only after receipt by the issuing bank of those documents or another stated condition.This kind of documentary credit involves the buyer and the banks in an incalculable liability. For that reason, it is not in common use. To maintain a degree of control, it would be