金融英语单选题-—FECT（8）
II. True or False Questions26. As a general rule， the shorter the maturity of an asset and the more readily it can be sold， the more liquid is the asset.
A.True B.False
27. Investors in the capital markets are not subject to any tax on their investments.
A.True B.False
28. CMO is a security backed by a pool of pass－through rates， structured so that there are several classes of bondholders with varying maturities， called tranches.
A.True B.False
29. The purpose of the letter of credit is to facilitate trade， typically international trade by substituting the known credit worthiness of a bank for the buyer， which may be unknown or unacceptable to the seller.
A.True B.False
30. According to the Phillips Curve， the economy cannot be at full employment and stable prices at the same time.
A.True B.False
31. When total reserves are equal to required reserves， the banking system cannot extend loans anymore.
A.True B.False
32. A bill of lading that covers the shipment of goods on two separate vessels is known as thorough bill of lading.
A.True B.False
33. Usually the more liquid asset is less risky.
A.True B.False
34. Where the bill of exchange is not accompanied by documents， these having been sent to the importer， the transaction is known as a clean collection.
A.True B.False
35. The velocity of money is the speed with which it can be converted into a liquid asset.
A.True B.False
36. Primitive securities yield returns that depend on additional factors pertaining to the prices of other assets， while a derivative security offers returns based only on the status of the issuer.
A.True B.False
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