1. Usually the low interest rate currency trades at a ______ to the high interest rate currency in the forward market.
, L% m! E$ H2 \4 s# u) q* y# B A. premium
4 \$ c; Q# w3 v3 L- ]9 N B. par
* F6 u5 j! u9 n7 B C. discount
$ C* U. _ t) ~- `* O D. bar' Q* R: U$ D Y0 O9 k1 x" t: {
2. Which of the following statements about standby letters of credit is true______.) e0 S/ e; l* D. e1 d0 h, @, P$ d
A. They can serve as a guarantee to a buyer against a seller defaulting
, s( }. o! J5 F1 u6 g B. They are contrary to the general rule that letters of credit may only be used for the actual movement of goods$ H) z5 S( [: U5 w4 U' F
C. They are unlike a tender (or other) bond in their legal standing and method of operation
# A# l' x! Y( E5 @5 r8 m/ G D. They are unlike a tender bond with its fixed expiry date
2 [( Y) P( N& C+ Z6 _. ]4 \ 3. The most liquid of all assets is ______.
I: v1 B9 M& f: I" w _" h/ \ A. the stock of commercial banks
) p6 d+ f6 [' @& z4 y B. M 17 t: m- D- y' ~! Q3 R
C. intelligence
6 }2 d) s4 f; F6 D/ m' e D. the debt of major corporations
3 i D& R0 `! l# ~* W* ^5 ]) q$ a 4. Beta and standard deviation differ as risk measures in that beta measures ______.$ |) x4 a* b) l! B
A. only unsystematic risk, while standard deviation measures total risk
6 ~ d, O7 q/ v0 K+ c5 ?% N B. only systematic risk, while standard deviation measures total risk1 q3 N3 J: }* T/ E
C. both systematic and unsystematic risk, while standard deviation measures only unsystematic risk% X( p0 R2 a$ x
D. both systematic and unsystematic risk, while standard deviation measures only systematic risk
0 s4 C6 m) H0 E, E; Q9 [' }6 x 5. What information would you find in a statement of cash flows that you would not be able to get from the other two primary financial statements______.
: }: z4 D4 Y8 }/ r2 U! a* J A. Cash provided by or used in financing activities
, U* n9 P @. ^/ t7 Q1 @. o B. Cash balance at the end of the period8 O# j. y; r% {) _6 R+ ?
C. Total liabilities due to creditors at the end of the period
! T! P3 |3 O/ c7 S: T; [; A D. Net income
! L! b3 Y0 u3 J% ?2 x5 S# L 6. An analyst estimates that a stock has the following probabilities of return depending on the state of the economy:
. s+ E0 m d V) L0 D State of economy Probability Return
. A u0 q; K$ \ Good 0.1 15%( f1 h @7 L9 S% E9 }8 h X9 k& |
Normal 0.6 13%( a- l' n. q$ J# o) A: t
Poor 0.3 7%- a0 X5 T+ M/ a+ s _% Q, \! x7 @
The expected return of the stock is ______.- j8 F6 O$ ]0 n, R7 l& z4 k
A. 7.8%
4 B$ h+ C5 `0 A/ A B. 11.4%
, p8 a+ Y# E6 j. K% S+ I( W C. 11.7%
: P2 V* T1 k1 R: C& a" q7 ]% W D. 13.0%/ W. O- {5 [9 [" Y" B
7. According to the rules of debit and credit for balance sheet accounts ______.) D2 l) u8 F% M" o- W) @2 v* d
A. increases in asset, liability, and owner's equity accounts are recorded by debits
1 C. u' Z! k5 X# X7 a B. decreases in asset and liability accounts are recorded by credits
. _2 M# ]2 n' V& ? C. increases in asset and owner's equity accounts are recorded by debits
. C: k! {/ P N, O5 L: t+ f D. decreases in liability and owner's equity accounts are recorded by debits! ?! U3 G. t, A6 \4 M4 s0 \
8. Individuals will accept the medium of exchange in return for goods and services only if they are confident that ______.
/ d% d4 p5 b" i/ k' P$ @ A. the inflation rate is zero
, R# D& x8 p; p+ k6 I# e B. it possesses intrinsic value
$ s! `' q) S4 w4 Y; p: K4 P+ n C. they can pass it on to others
4 ^1 |* y+ ~) c+ y D. they can exchange it for gold
# Z8 U6 j4 \+ E$ V, \ w+ [4 r 9. When a country's currency appreciates, the country's goods abroad become ______ and foreign goods in that country become ______., L4 s* c% p) H; d5 F! r( w
A. cheaper... more expensive1 k# S! f4 Q- b2 v% K$ q" Q
B. more expensive... cheaper
2 T6 F8 A6 Y( x6 X b. V C. cheaper...cheaper" h) k9 K; u \2 f3 ^0 N: a T
D. more expensive... more expensive
' e% E0 D1 Q( ], u) W/ w 10. A US company is bidding for a contract in China. Its Chinese customer asks for a performance bond. What is the most likely course of action______.
$ V. ^6 w) K2 x, C# N; f! l A. It asks its bank to issue a tender bond which can be converted into a performance bond, T, b: \' l4 A- b g
B. It gives up its bid( s: Z) c3 ~# h3 o
C. It consults its bank about issuing a standby letter of credit' w" v5 a! v! D+ x# j
D. It asks its bank to issue a performance bond0 G& y$ I2 Y6 k K
11. ABC Co. Ltd. has a $3 500 account receivable from XYZ Store. On March 20, XYZ makes a partial payment of $2 100 to ABC. The journal entry made on Mdrch 20 by ABC to record this transaction includes ______.
7 \2 t$ g! a" n& ], t$ d A. a debit to the cash received account of $2 1002 ?% w' r2 q/ T1 J. Z' n
B. a credit to the Accounts Receivable account of $2 100
! J0 Y2 c; L3 e# f5 A( w" p C. a debit to the Cash account of $1 4006 L0 d3 q+ _9 j1 q5 g
D. a debit to the Accounts Receivable account of $1 400! v; n! p8 h% i/ @, w
12. Intervention in the foreign exchange market means the government ______.
3 a3 k. M% h f7 ]- |. G4 D7 l A. restricts individuals from buying and selling foreign exchange
% D: l1 W, W- l4 m& q; X* ]( U; ^ B. restricts the importation of certain goods2 s2 N6 r3 D( T- E& ~9 F7 D0 M
C. or central bank buys or sells foreign exchange+ e- {$ _6 }2 ^2 [
D. devalues the currency in the foreign-exchange market: D4 e, }; @0 v3 J
13. Which of the following is not a form of countertrade______.3 n% n6 T5 m* h0 x& ]4 q {' A
A. Counterpurchase
7 Z( P# M; b8 K: { B. Buy-back
- f9 D) T/ m3 r2 H, _" I- J4 m C. Offset: u. \( {' o" U* }# `- O% B" S
D. Balance trade+ @- T- v) N1 [% I0 F! _0 e
14. A credit to a revenue account ______.2 O8 w9 J% f+ P# {& z
A. decreases revenues' z# o a( ~7 x1 ]1 y
B. increases equity |
发表于 2012-8-16 08:05:44
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