[语言类考试复习资料大全]金融英语中级银行业务模拟2

1、书山有路勤为径，学海无涯苦作舟。祝愿天下莘莘学子：学业有成，金榜题名！语言类考试复习资料大全金融英语中级银行业务模拟2金融英语中级银行业务模拟2SECTION ONE (Compulsory) Now listen to a short conversation and a passage on the tape. This will be played once on the recorder. You may make notes while you are listening, but you should not answer any questions until the readi

2、ng is over. Qustion 1 (如需获取本MP3听力录音请搜索标题名) 1. What is the name of the officer in charge of opening Letter of Credit for customers?答案:George Tangkerson解析 1-10Letter of CreditA: East Bank. Good morning.B: Hello. May I speak to the officer in charge of opening Letter of Credit for customers.A: Yes, thi

3、s is George Tangkerson speaking. What can I do for you?B: This is Andrea Yang from Southeast Computer Ltd. We have an oversea supplier who wants to settle payment through L/C. Since this is the first time we have a transaction, they prefer the safest way of securing settlement, and suggest L/C. But

4、we never handled it before. And your bank is our favorite one where we do all our banking. So Id like to know about L/C to smooth that new deal.A: OK. Mrs. Yang, thank you for choosing our bank as your favorite bank. In fact, a documentary letter of credit, after payment in advance, represents the s

5、afest and fastest way of securing payment for exporters, as the exporters can personally retain control of the documents of title to the goods until the moment of acceptance of a bill of exchange.B: I see, thats why they want it. Could you tell me how many parties are involved in a credit?A: Strictl

6、y speaking, there are five parties. The first one is the applicant, usually the buyer. In your case, its you. You arrange a credit in accordance with the terms of the contract you have made with the beneficiary.B: You mean with the supplier?A: Exactly, he is the second party, and the credit is issue

7、d in his favor.B: I was told that if I come to your bank and ask you to open a L/C for us, you function as the issuing bank.A: Correct. We, the issuing bank, commit ourselves in accordance with your instruction. And here comes the fourth partythe advising/confirming bank, which is located in the cou

8、ntry of the beneficiary and is usually our banks correspondent. I mean the issuing banks correspondent. Then, the paying/accepting bank makes payment to the beneficiary.B: So in the process of making settlements by means of L/C, first of all, the buyer applies to the issuing bank to open a credit in

9、 favor of the exporter. Will his application always be approved? How about my application?A: Not necessarily. It will depend on the buyers creditworthiness. Before issuing a credit, the bank must make certain of its customers creditworthiness. If this is satisfactory, the credit is then advised to t

10、he exporter through a bank in his own country, that is the advising bank. In your case, I assure you that your application will be accepted, because we know your company very well through all the banking you have done with our bank.B: Glad to hear that. Then, what is the issuing bank supposed to do

11、next?A: Under the term of credit, the issuing bank undertakes that the seller will be paid for his goods if he complies with certain stated conditions: these will call for certain documents, such as invoices, bills of lading and insurance documents. On condition that the documents presented to the a

12、dvising bank due to him in exchange for tine documents.B: Will the paying bank send the documents to you or to us?A: To us by air-mail, never to you. When we have received the documents, we hand them to you. And when the ship docks, your company will presents the bills of lading to the shipping comp

13、any and receive your goods.B: So the payment for the goods by our company to you is a matter of arrangement between us and of no concern to the exporter?A: Thats right. And the settlement between the banks for the amount paid by the issuing bank is carried out through their nostro and vostro account

14、s.B: Oh, I see. The advantage of a credit to the seller as you mentioned is self-evidenthe knows that he will receive the payment provided he complies with its terms, then are there any benefits to us?A: Yes. Because the payment will only be made by the advising bank when the exact documents specifi

15、ed have been receivedas these are the documents of tide, then once they are in hands of the paying bank, it will only be a matter of time before they come to your hands, allowing you to collect the goods.B: Oh, thank you so much. Now I have a clear idea about L/C. Tomorrow I will go to your bank and

16、 open it. Thank you again. See you tomorrow.A: OK. Great, you are welcome. See you tomorrow. Letter of Credit A letter of credit is a financial instrument issued by a bank on behalf of one of its customers, which authorizes an individual or business firm to which it is addressed to draw drafts on th

17、e hank for its account under certain conditions as set forth in the document. In a letter of credit, the financial strength or credit of the bank is substituted for that of the banks customers simply because the credit of the hank may be more substantial and more widely known. Another reason for hea

18、vy reliance on the letter of credit is that it is a desirable way of establishing certain quality standards or classifications that the goods must meet. Finally, it permits the seller to receive almost immediate payment for his goods, as soon as they are shipped; as a result, the cost to the importe

19、r is less than if the seller had to wait for payment for an extended period. Irrevocable letters of credit are used in international finance and, as the name implies, cannot be changed without the consent of all parties concerned. Risks are numerous in international trade: accidents at sea, strikes,

20、 riots, and civil commotions in port cities, all of which can cause damage to ships and their cargo. Typically many documents are necessary to comply with in an international transaction, and these must be specified in an application for a letter of credit. Several copies of a commercial invoice are

21、 needed for office use, and customs invoices are required before some goods can be brought into this country. Probably the most important document stipulated in an application for a letter of credit is the negotiable on- beard ocean bill of lading. This document is a receipt that the cargo was recei

22、ved and was loaded on board a ship. Whoever holds the on-board ocean bill of lading has the title to the goods. Therefore, the bank must have this document before payment is made. After an importer has completed arrangements for the issuance of a letter of credit by the bank, the bank is instructed

23、to deliver the letter of credit to the beneficiary. After receipt of the letter of credit, the foreign exporter arranges for the shipment of the goods to the importer in accordance with the terms of the letter of credit. When the exporter has prepared all documents required and delivered the goods t

24、o the ship, the documents are then attached to a draft and submitted to the exporters bank along with the letter of credit. If the documents are in order, the bank then negotiates the draft and forwards the documents to the bank in the importers country. Several procedures could be employed in trans

25、ferring the funds to exporters bank. The importers bank could merely credit funds to the exporting banks account if the foreign bank carried a correspondent account with the bank in the importers country. Banks that issue L/C may be paid in casha simple transfer from the customers account to the ban

26、k. If, however the importer does not have all or a part of the funds, he must negotiate a loan from the bank. This loan could be unsecured assuming the borrower has sufficient credit worthiness, or it could be secured by the goods just imported. If these goods are ready for sell, they could be relea

27、sed to the importer on a trust receipt. As they are sold, the loan is repaid, or they might be placed in a warehouse, with the warehouse receipts serving as collateral for the loan. Whatever the arrangement, the importer receives the order bill of lading which gives him title to the goods. If the go

28、ods were to be, used in further manufacturing, a different kind of loan might be made with a longer maturity. 2. What is the safest way of securing settlement for exporter?答案:L/C3. Which company does Mr. Yang come from?答案:Southeast Computer Ltd.4. How many parties are involved in it? And name 3 of t

29、hem.答案:Five.an applicanta beneficiaryan issuing bankan advising/confirming banka paying/accepting bank5. Before issuing a credit, what must the bank make certain?答案:The bank must make certain of its customers creditworthiness.6. Will the paying bank send the documents to the issuing bank or to the b

30、uyer?答案:To the issuing bank7. What is the most important document stipulated in an application for L/C?答案:The bill of lading8. Can the issuing bank be paid in cash?答案:Yes9. Can a loan be secured by the goods which is just imported?答案:Yes10. What gives the receiver the title to the goods?答案:The ruder

31、 bill of ladingSECTION TWO (Compulsory)Question 2 Answer all questions below. Read the following statements and decide whether they are True (T) or False (F). If it is a false statement, try to re-write a correct version. 问题:1. The Land Fund is now managed by the HKMA under the direction of the Fina

32、ncial Secretary as a combined portfolio with the Exchange Fund.答案:BCorrection: The Land Fund is now managed by the HKMA under the direction of the Financial Secretary as a separate portfolio from the Exchange Fund.问题:2. After July 1997, mainland Chinese banks applying to operate in Hongkong are stil

33、l placed under the category of foreign banks.答案:A问题:3. Money is a commodity itself.答案:A问题:4. Credit instruments are issues by which investors supply permanent financing to firms or other borrowers including governments.答案:BCorrection: Equity instruments are issues by which investors supply permanent

34、 financing to firms or other borrowers including governments.问题:5. Debit instructions arise when the party to whom payment is to be made demands the funds from the bank holding the debtors money.答案:BCorrection: Credit instructions arise when the party to whom payment is to be made demands the funds

35、from the bank holding the debtors money.问题:6. Compared with call deposits, time deposits generally have a shorter deposit time restriction, which ranges from 24 hours to one week.答案:BCorrection: Compared with time deposits, call deposits generally have a shorter deposit time restriction which ranges

36、 from 24 hours to one week.问题:7. Under conditional lease, the company or the bank holds the title, takes the investment credits and depreciation expenses, and sells or releases the facilities when the lease expires.答案:BCorrection: Under true lease, the company or the bank holds the title, takes the

37、investment credits and depreciation expenses, and sells or releases the facilities when the lease expires.问题:8. A breakers cheque is a negotiable instrument.答案:BCorrection: A bankers cheque may or may not be a negotiable instrument.问题:9. Depending on the need of clients, SWIFT is the most convenient

38、 and the safest method.答案:A问题:10. There is no circumstance where the non-disclosure rule can be broken without the consent of the customer.答案:BCorrection: There are circumstances where the non-disclosure rule can be broken without the consent of the customer.问题:11. Index deposit combines the benefit

39、 of a time deposit and an investment.答案:A问题:12. A negotiable instrument is a conditional Order or promise to pay a certain amount of money.答案:BCorrection: A negotiable instrument is an unconditional order or promise to pay a certain amount of money.SECTION THREE (Compulsory)Question 3 Write short no

40、tes on all questions below. Note form answers are acceptable. 问题:1. Name any 3 types of leasing services offered by breaks.答案:a. financial lease b. operating lease c. full payment lease d. tree lease e. conditional lease f. leverage lease 问题:2. What is the significance of Hongkong Inter-bank Offered

41、 Rate?答案:a. a leading indicator of interest rate including the prime rate b. an indicator of liquidity of Hongkong Dollars in the market c. a reference price quoted for wholesale business 问题:3. List any 3 investment services that banks provide to their retail customers.答案:a. Discretionary portfolio

42、management b. Unit trust management c. Stocks, bonds and other financial instruments administration d. Gold and other metals management e. Other derivative instruments management f. Custodian services 问题:4. List any 3 financing services that a hank provides to an exporter.答案:a. forward cover to elim

43、inate exchange risk b. export finance on overdraft/loan, etc. c. negotiation or bill advance d. discount of bank acceptance under documentary credit e. shipping / marine insurance f. guarantee and performance bond 问题:5. State the parties involved in a documentary credit arrangement.答案:a. issuing ban

44、k b. advising banker c. the applicant d. the beneficiary 问题:6. List any 4 common signs and symptoms of overtrading.答案:a. drastic and sudden increase in sales b. longer credit period demanded from suppliers, and substantial increase in creditors c. shorter credit period given to customers d. rapid in

45、crease in overheads e. inventory builds up rapidly and becomes disproportionately large f. increased external financing from all source at higher interest rates g. decline in gross profit margin h. tightened liquidity i. increased debt to equity ratio, and higher gearing SECTION ROUR Answer one ques

46、tion only Question 4问题:1. Whats the relationship between banks and clients? What services do banks provide to the personal customers?答案:(1)The relationship between banks and clients: A. It is a contractual agreement under which, once an account is established, the agreement begins to operate. B. It

47、is a debtor-creditor relationship. Depositor-banker-borrower. C. It is the principal-agent relationship. The agent refers to the services that the bank provides to the customer. (2)The services provided by banks to personal customers: A. The services can be divided into two categories: General banki

48、ng to regular customers and the private banking to specific or selected high net worth customers. B. General banking services: a. Traditional types of deposit taking services: Hong Kong Dollar deposit Current Account Deposit Savings deposit Time deposit Call deposit Target deposit Foreign Currency D

49、eposit Savings Deposit Time and Call Deposit Swap Deposit Paper Gold Deposit b. Innovational types of deposit taking services: Index Deposit Time deposit plus investment Principal amount protected Interest rate is linked with the performance of stock market Investment Similar to the index deposit Co

50、vers more investment choices c. Personal loans: -Installment loans: -They are granted by the bank to the customer over a fixed period of time. -Repayment schedule is usually fixed in amount and time. -Secured installment is based on a security provided by the customer which is attached to the loan a

51、greement. Most popular secured loans are those for financing the purchase of durable items. -Unsecured installment is a loan granted by banks up to a certain limit, without security; the loan is usually for a shorter period of time and for smaller value. d. Credit card and plastic money e. Automatic

52、 Teller Machines (ATMs) f. Foreign currency exchange g. Travel facilities h. Insurance services i. Hire purchase j. Investment and personal advice services C. Private banking to specific or selected high net worth customers: The banker provides a wide spectrum of personal services to wealthy clients

53、 who may have little knowledge of how to handle their own financial affairs or who are too busy. The banker provides tailor-made investment program to the customer. Question 5问题:1. Describe money markets and capital markets.答案:Money markets: Concept: Money markets are exchange systems where short-te

54、rm, usually less than one year, highly liquid and readily marketable credit instruments are traded. Instruments traded in Hongkong money markets: Negotiable certificates of deposits: -a financial instrument issued by a bank or a deposit-taking company as evidence of indebtedness; -repayable either on demand or at a determined future time; -carries either a fixed or floating interest rate. Inter-bank lending and borrowing: -in Hongkong, it is an intangible market participated by licensed banks and deposit-taking companies; -borrowing is on unsecured and short-term bas