FECT－Exercises－1（2）

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　　40. Incoterms apply ______.
　　A. only if clearly incorporated into the contract of sale
　　B. to International shipments beyond a certain tonnage
　　C. to international shipments under the Uniform Commercial Code
　　D. to all international shipments of goods
　　41. Under which one of the following circumstances would it be wise for your customer to arrange a forward foreign exchange contract？ ______.
　　A. Import of goods priced in a foreign currency
/ N% i2 T# H" Q0 r+ n+ `5 y　　B. Import of goods priced in RMB
7 d# O- [( L" @　　C. Export of goods priced in RMB
　　D. Export of goods priced in a foreign currency where the rate of exchange has been agreed in the sales contract
　　42. Incoterms address ______.
　　A. the risks of loss between the parties
　　B. breaches of contract
　　C. ownership rights
　　D. type of ship used
' @7 H. y0 o( a, Z$ d/ A& _% G　　43. Which of the following is or was an example of representative full－bodied money？ ______.
　　A. Debt money
) h( w7 Y5 ~- q9 G  J9 ], t8 _　　B. ATS account
　　C. Gold certificate
; e! F) N% [6 [. S- |, L　　D. Demand deposit
& M+ x( V2 q4 W$ m　　44. Risks associated with investing in foreign countries are the following except ______.
　　A. voting risk
　　B. exchange rate risk
　　C. country risk
　　D. political risk
4 R, m7 m6 H* L- d4 B1 O5 L　　45. An exporter sells goods to a customer abroad on FOB and on CIF term. Who is responsible for the freight charges in each？ ______.
　　A. Exporter; Exporter
　　B. Exporter; Importer
　　C. Importer; Importer
" G0 [. z7 V, d3 g: o! f( I6 r　　D. Importer; Exporter
　　46. Default risk refers to the possibility that a borrower may ______.
8 Q$ a4 |5 U; i% B) m+ ]　　A. be unable to repay the principal on his loan
1 K, S( Z& r  _/ m/ N, T　　B. be unable to make the interest payments on his loan
4 m9 ?% ^% }& r; K　　C. go bankrupt
　　D. all of the above
　　47. What is the reserve requirement？ ______.
　　A. The requirement of a bank to deposit a percentage of money
6 [# }, r$ A) Q4 x+ }& e/ ^% Q　　B. The requirement for deposits in cash
8 P; V; }- F1 i5 H1 a6 }- G　　C. The percentage of a bank‘s deposits in the form of cash reserves
1 a* F3 o* U1 g. t4 |1 p　　D. The requirement for cash reserves
) `0 o$ A; ]. Z. e* c9 I7 G　　48. A draft is like a check that can be endorsed but it isn‘t a title to goods， like ______.
1 h; n7 L8 U0 o/ d; U- F% o5 o' i　　A. a bill of lading
　　B. an inspection certificate
0 Y" A, A3 \, A( h  S; q　　C. a certificate of origin
( p  W4 z; E+ `& N1 ?3 Q- Z　　D. an insurance certificate
　　49. Arbitrage ______.
　　A. is a general economic term for buying something where it is cheap and selling it where it is dear
　　B. keeps exchange rates consistent across markets
! g# e1 l+ E6 P( i/ {: ]　　C. has been outlawed by the International Monetary Fund
　　D. cannot occur where there is a forward exchange market
　　E. both A and B
; Y" @1 y3 T' S+ f' ~　　50. What is the purpose of comparing the ledger entries with the documents？ ______.
　　A. To prove that all the transactions have made for the right amounts
" ^5 I; r: {8 z7 B1 _4 |　　B. To prove that all the accounts have been posted correctly
* s; I7 c$ D1 D: h  Y4 Y, K. u　　C. To check the number of all the debits and credits
  W, q" @( C9 {$ J; z　　D. To post the right accounts
　　51. What is Dollar Cost Averaging？ ______.
- Y% J4 Z4 h" z' z# q' a/ D/ P: a3 ^1 ~　　A. A brokerage account that gives investors cheap trades
6 ?' q! S" r1 T! O) L　　B. The idea that prices tend to rise over the long term
　　C. Buying stocks that are below average in value
9 C! X- g! j+ _: R* d　　D. A flat quarterly mutual fund fee averaged throughout the year
( B; ?- F( n- j- n　　E. A strategy of investing money on a r
　　egular basis to take advantage of market fluctuations
　　52. From a Chinese bank‘s point of view， the currency account which it maintains abroad is known as______， while a RMB account operated in China for a foreign bank is termed ______.
　　A. a vostro account…… a nostro account
　　B. a vostro account…a mirror account
+ J4 G2 |/ x! |" m0 @0 F　　C. a mirror account…a nostro account
　　D. a nostro account…… a vostro account
0 J" E; s, r' N5 g　　53. Under FOB terms the bill of lading would state goods ______.
& X6 _& d% |- G7 ^5 [( J/ q+ d/ l　　A. loaded on board， freight payable at destination
2 K3 {, P! A1 M( l0 t3 G5 z　　B. loaded on board， freight paid
　　C. received for shipment， freight paid
; i+ J$ I8 j4 u7 E7 ~　　D. received for shipment， freight payable at destination
　　54. The liabilities of the bank as shown in its balance sheet represent the ______ which it uses in its business.
2 ]) I1 U8 r0 U' ~  \) r　　A. sources of the funds
5 c. E: z# w) n" v- }  k　　B. share capital
2 S- S) d" |: c) f　　C. investments
　　D. advances to customers
　　55. International payments and other messages are often sent through an international computer network called ______.

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　　A. CHAPS
% r, c2 g' Y  P! k, V　　B. BACS
6 ^+ `6 d8 s/ S0 S　　C. SWIFT
　　D. EIMT
4 h4 o0 h$ c; b5 j　　56. Low levels of uncertainty are associated with .
　　A. stocks
　　B. stock options
　　C. higher potential returns
2 U3 n4 O& x! V9 N# H　　D. lower potential returns
: y- u3 v! b4 i5 L3 b, w4 g　　57. Government securities would appear on a commercial bank‘s balance sheet as ______.
　　A. an asset
) i/ v* j7 a) Y% T" h& g- F+ y. k( `$ w　　B. reserves
$ I4 B+ U6 G  s% Y　　C. part of net worth
0 W" Y7 S8 F" H, o: N; w7 q. w9 ~　　D. a liability
; X0 n/ I/ `3 s' l$ ^2 g　　58. A major problem with a fixed exchange rate system is that when countries run foreign trade deficits， ______.
. y* C0 d" [8 {  h4 I　　A. there is no self－correcting mechanism
　　B. currency values become unstable
8 `! m; h* I( q% B7 \3 q　　C. the value of the reserve currency declines
　　D. world inflation increases