金融英语FECT（二）

会计考友

71. When the Japanese yen appreciates, then we might expect (everything else equal) that imports in Japan will ______and exports will______.
6 [! a% s% P4 \1 V9 TA.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
1 B! w. o6 h1 J. Q( {4 {# r7 F, wC. A change in the discount rate usually initiates a change in policy
% P. H7 f* v3 P. \* s4 }D. The discount rate usually moves in the opposite direction from other interest rates
8 ~; [3 s. v: `8 U5 B0 t7 C: X# i- L/ m73. 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               
; o1 A, q! C* i( u% F! m, R7 z8 GD. 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
6 K8 A" j& o  u$ B/ ^1 `/ bC. Receivables are being collected more rapidly than in the past
D. Receivables are being collected more slowly than in the past
4 j7 z/ D/ C7 L+ n75. 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
% J9 ^* r( ?/ Z  R# lC. Every time there is a price movement, the stock will rise or fall by half as much as the market
# M, j4 G; r' o# gD. The stock price change will on average be half as much as the market price change
76. What does P/E Ratio stand for?           .
  G) a4 o% {2 `/ t$ RA. Public Earnings Ratio     
2 Q$ X$ G" L+ g* z/ @5 I4 pB. Premium Earnings Ratio
C. Price Earnings Ratio      
5 G4 @# L  F. K& x9 |D. Private Equity Ratio
4 D# k; a8 `  f5 L( V4 a" `77. If the central bank wishes to increase the level of bank reserves temporarily, it should           .
, t" M. C$ G  m7 ?A. purchase government securities outright
/ m5 b* P' M" v5 A) JB. 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? ______.
0 w  G. a1 l, ~. s' fA. Develop software that is more costly to create but easier to update and improve
% }: b( T& {# \- X1 wB. Lower the price of existing versions of products as customer demand begins to fall
' S; s; \# P. e; h2 V5 A3 A8 LC. Purchase the building in which the business operates (assume the company currently rents this location)
$ I0 Y$ ~) q: ~* sD. Reduce expenditures for the purpose of developing new products
# x/ O& k: e2 D" o% }; b; k- `$ D79. Exchange controls require the government          .
8 m3 ?2 s  I1 e! JA. to ensure that the foreign-exchange market is perfectly competitive
B. to stop buying foreign exchange
2 g; m  k/ [) v8 r9 RC. to sell more foreign exchange than it buys
4 y8 x+ Q6 c$ D$ Z9 T0 u! QD. to balance inflows and outflows of foreign exchange at the current exchange rate
80. See the following diagram:               Bank A  AssetsLiabilitiesRate-sensitive$20 million$50 millionFixed-rate$80 million$50 millionIf interest rates rise by 5%, say from 10% to 15%, bank profits (measured using gap analysis) will ______.
) ~3 U( z9 @7 j" L9 V0 F0 aA. decline by $0.5 million         
B. decline by $2.5 million
C. decline by $1.5 million         
3 c0 |) L% B) ]3 `: u. {D. increase by $1.5 million
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