1. Under which one of the following circumstances would it be wise for your customer to arrange a forward foreign exchange contract? ______.
} F, |1 [$ sA. Import of goods priced in a foreign currency. x+ z, g7 |, ?7 U6 Z3 y d
B. Import of goods priced in RMB0 J3 G0 V: q6 b) \. w0 {6 \
C. Export of goods priced in RMB
6 l0 d S/ F( g* v9 XD. Export of goods priced in a foreign currency where the rate of exchange has been agreed in the sales contract
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9 w0 _) U6 ~. I( v0 c+ Y& ~2. Incoterms address ______.3 x( d* z6 j% Y3 c
A. the risks of loss between the parties 5 h/ R! P- ~. A9 ]# P# R- `
B. breaches of contract" P; d: p% J% W& a' x- d$ h" {. g7 X
C. ownership rights * T! d5 l& j) \ i. f
D. type of ship used- ?4 h6 w+ d/ ?3 ^* \$ |
% o7 D- S0 I# F- }8 h( f
3. Which of the following is or was an example of representative full-bodied money? ______.
: U) i! c7 X/ Q0 lA. Debt money
3 Y% A2 F. f y6 B' s: w6 SB. ATS account
! K) A3 y- w5 GC. Gold certificate
. S9 C' [* c X- nD. Demand deposit
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4. Risks associated with investing in foreign countries are the following except ______.
% B, J$ ]5 _0 v8 GA. voting risk
! A. d7 i$ L' u- g WB. exchange rate risk a$ q( {7 }1 G/ f7 d$ ?$ ?
C. country risk
& ?- }# e, u5 y8 a3 FD. political risk
+ X2 w8 ]; C! h* H7 Y
: x6 v' h1 i F2 A5. An exporter sells goods to a customer abroad on FOB and on CIF term. Who is responsible for the freight charges in each? ______.% f0 d; e4 ?1 z! ^2 d
A. Exporter; Exporter
/ e# Q. S3 [% i9 ]; v. JB. Exporter; Importer- e2 s* Q. f$ } }& |
C. Importer; Importer
, d5 ?1 ]/ [# |" s! H% o7 FD. Importer; Exporter
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9 w Q& F) O- R2 Q: x+ ^6. Default risk refers to the possibility that a borrower may ______.8 y; q7 S6 K: {
A. be unable to repay the principal on his loan: Y% x U! x% Z$ _/ j( x) A
B. be unable to make the interest payments on his loan
% `2 I$ F: m% }C. go bankrupt4 F& `& Q+ N1 q( N5 B/ m O
D. all of the above6 E' x/ k6 d T& i+ T1 j
) W+ F: J3 Y6 L7. What is the reserve requirement? ______./ A8 F' P( m8 @7 v8 {0 Q: U' o1 R
A. The requirement of a bank to deposit a percentage of money4 U7 q2 H) c' x2 q# K4 Y; E8 F
B. The requirement for deposits in cash
) W" x4 D2 w+ RC. The percentage of a bank's deposits in the form of cash reserves
* |+ W+ ]# N$ r+ ND. The requirement for cash reserves% c$ X( l! \) K- F
7 _' X: q% i# S6 A t7 N; Q d8. A draft is like a check that can be endorsed but it isn't a title to goods, like ______.4 X/ V- T* _" D
A. a bill of lading
- S8 `: t$ S) _& }! wB. an inspection certificate; c9 q U8 |, Q- E8 K
C. a certificate of origin
* P6 L. f; \2 TD. an insurance certificate 2 M# A8 |# d E
' b/ [+ z$ Y; {! ~ K0 Y9. Arbitrage ______.5 Y% s: Q4 M; i. ~ }6 r
A. is a general economic term for buying something where it is cheap and selling it where it is dear
; o' s, V5 V9 G' ^B. keeps exchange rates consistent across markets, r4 e% j( v1 T; B9 j T
C. has been outlawed by the International Monetary Fund
% g$ b" O6 v" V" y* W7 ?D. cannot occur where there is a forward exchange market
3 y9 y1 n% q, i* WE. both A and B2 b( x) d, k: o
2 ^+ }- `: t2 [ q* w10. What is the purpose of comparing the ledger entries with the documents? ______.. d) x* H. j3 l0 y4 q' Q
A. To prove that all the transactions have made for the right amounts
1 A1 x) [0 z0 s4 h7 v0 UB. To prove that all the accounts have been posted correctly 8 s6 }# i9 e" A) x5 Y8 |
C. To check the number of all the debits and credits
8 K& {! [' \& qD. To post the right accounts
, t# w- j1 ?) c3 f答案:1.A 2.A 3.C 4.A 5.D 6.D 7.A 8.A 9.E 10.B 11. What is Dollar Cost Averaging? ______.
0 X, t. k) J6 F0 {A. A brokerage account that gives investors cheap trades, a/ B6 u* E- o$ c
B. The idea that prices tend to rise over the long term
) }% ^2 T% S. H$ M' uC. Buying stocks that are below average in value
( Z% p- g% M4 ~) AD. A flat quarterly mutual fund fee averaged throughout the year5 n' N+ y: u* t
E. A strategy of investing money on a regular basis to take advantage of market fluctuations% a" A' Q3 B6 I, H5 }; e
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12. 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 ______.
- j+ z; x9 j. r" FA. a vostro account... a nostro account0 Z4 q, {( u7 y: t. R
B. a vostro account…a mirror account) K: B9 S% y d! n9 G9 A! Q( B
C. a mirror account…a nostro account; E/ E7 i* q4 `# H4 L- e/ e, m
D. a nostro account... a vostro account + j( J- k( c: `7 Z
4 f, |4 b9 _- j- ~0 B3 I4 w2 }13. Under FOB terms the bill of lading would state goods ______.
2 A% f1 l; S" Q/ ?. g9 { rA. loaded on board, freight payable at destination8 H; r5 M- a' [ D$ P
B. loaded on board, freight paid
* B; l. {( m( k7 h' [3 TC. received for shipment, freight paid/ T+ Z+ g# c+ G* J, \
D. received for shipment, freight payable at destination# |' I1 L& Z, l
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14. The liabilities of the bank as shown in its balance sheet represent the ______ which it uses in its business.
) E+ |5 |& D/ n3 H, Y+ oA. sources of the funds
; C: m1 ~ y! ^# G. W; R4 K8 I+ E+ C" tB. share capital% n' D$ u/ H' \1 ^
C. investments & `- M$ R% X2 ~
D. advances to customers; N- v; C0 D/ u/ L1 q7 Y8 l
7 f* w; f% w2 F. n0 u& S' X& h7 d15. International payments and other messages are often sent through an international computer network called ______.
& R& L) H4 I6 A: J; k+ A# i! rA. CHAPS
" Y2 i w& E1 }& E' |1 QB. BACS
' b- V: p' B u) ]/ t5 l+ D |C. SWIFT " N. `* F; q) t
D. EIMT
2 @$ n. C) a* l _( Y
3 w, K7 E, q$ o16. Low levels of uncertainty (risk) are associated with .- u- v+ X- _' O: d
A. stocks + C, }" E* A6 v2 U8 ^6 a
B. stock options2 d* u! v; A+ V& Q
C. higher potential returns 5 z( k& M Y* R
D. lower potential returns ( m) V y$ J. {& E. u# l+ }, _5 Z& ^+ K
8 F6 l# }- C- T! `8 Q1 g1 E
17. Government securities would appear on a commercial bank's balance sheet as ______.
5 j% l* X+ o2 T' K; xA. an asset ( u% e5 z+ U5 Q2 |3 |
B. reserves( l* \. m0 `" i/ u
C. part of net worth : G s( b$ c2 t
D. a liability$ n8 H# f+ G" c5 T( I& y
: m* m) V$ A! u
18. A major problem with a fixed exchange rate system is that when countries run foreign trade deficits, ______.- a9 G) h# {6 \7 t' f
A. there is no self-correcting mechanism |