2011年金融英语考试模拟试题（8）
71．When the Japanese yen appreciates， then we might expect （everything else equal） that imports in Japan will ______and exports will______．A．rise．．．fall
B．rise．．．rise C．fall．．．fall
D．fall．．．rise
72．Which of the following statements is correct? ______．
A．A change in the discount rate usually precedes changes in reserve requirements
B．A change in the discount rate usually confirms policy changes
C．A change in the discount rate usually initiates a change in policy
D．The discount rate usually moves in the opposite direction from other interest rates
73．When borrowers know more than lenders about the future prospects of a project to be undertaken with borrowed funds， the lender faces the problem of______．
A．moral indignation
B．default risk
C．free riding
D．asymmetric information
74．If a company's current ratio declined in a year during which its quick ratio improved， which of the following is the most likely explanation? ______．
A．Inventory is declining
B．Inventory is increasing
C．Receivables are being collected more rapidly than in the past
D．Receivables are being collected more slowly than in the past
75．A stock has a beta of 0．5．What does this mean? ______．
A．The stock will fall on average by half as much as the market
B．The stock will fall and rise by twice as much as the market
C．Every time there is a price movement， the stock will rise or fall by half as much as the market
D．The stock price change will on average be half as much as the market price change
76．What does P/E Ratio stand for? ______．
A．Public Earnings Ratio
B．Premium Earnings Ratio
C．Price Earnings Ratio
D．Private Equity Ratio
77．If the central bank wishes to increase the level of bank reserves temporarily， it should ______．
A．purchase government securities outright
B．raise reserve requirements
C．buy government securities under a repurchase agreement
D．sell government securities under a reverse repurchase agreement
78．Which of the following business strategies is most likely to increase the net cash flows of a software developer in the short run but to reduce them over a longer term? ______．
A．Develop software that is more costly to create but easier to update and improve
B．Lower the price of existing versions of products as customer demand begins to fall
C．Purchase the building in which the business operates （assume the company currently rents this location）
D．Reduce expenditures for the purpose of developing new products
79．Exchange controls require the government ______．
A．to ensure that the foreign－exchange market is perfectly competitive
B．to stop buying foreign exchange
C．to sell more foreign exchange than it buys
D．to balance inflows and outflows of foreign exchange at the current exchange rate
80．See the following diagram：
Bank A
Assets Liabilities Rate－sensitive$20 million$50 million Fixed－rate$80 million$50 million If interest rates rise by 5%， say from 10% to 15%， bank profits （measured using gap analysis） will ______．
A．decline by $0．5 million
B．decline by $2．5 million
C．decline by $1．5 million
D．increase by $1．5 million
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