2011年金融英语考试模拟试题（8）

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______．
　　A．rise．．．fall
　　B．rise．．．rise C．fall．．．fall
　　D．fall．．．rise
　　72．Which of the following statements is correct? ______．
% @: m) [2 n, P& D$ L8 O' h# k, A　　A．A change in the discount rate usually precedes changes in reserve requirements
　　B．A change in the discount rate usually confirms policy changes
, l8 p' R! P! ?: x' A　　C．A change in the discount rate usually initiates a change in policy
　　D．The discount rate usually moves in the opposite direction from other interest rates
　　73．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
　　D．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? ______．
4 b4 S* F1 o$ R: U; ^" C. O　　A．Inventory is declining
　　B．Inventory is increasing
5 j0 ^) R/ J% v! r! Q7 L% _　　C．Receivables are being collected more rapidly than in the past
6 W$ a+ x  y0 J+ G/ T0 ~$ ], |2 _　　D．Receivables are being collected more slowly than in the past
$ q  [2 ?! r0 J9 H3 G  R" p6 c* T　　75．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
3 r) i; e8 m' r+ T& p. `9 Q0 I2 U6 {　　B．The stock will fall and rise by twice as much as the market
　　C．Every time there is a price movement， the stock will rise or fall by half as much as the market
$ M7 z! U" j7 j& f　　D．The stock price change will on average be half as much as the market price change
　76．What does P/E Ratio stand for? ______．
　　A．Public Earnings Ratio
　　B．Premium Earnings Ratio
$ s( E$ S! _  S# H" i5 R　　C．Price Earnings Ratio
: f) ?3 {0 Y5 b0 E, s# _　　D．Private Equity Ratio
　　77．If the central bank wishes to increase the level of bank reserves temporarily， it should ______．
) j. p9 t# ?% h　　A．purchase government securities outright
　　B．raise reserve requirements
& ]* }6 j( n  A% {9 `3 M2 w　　C．buy government securities under a repurchase agreement
( r! S& }. G5 d: G4 ~, y4 l　　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? ______．
2 {3 e- K" ~5 Y* O7 L  d) Y　　A．Develop software that is more costly to create but easier to update and improve
& p; R4 N5 ?; ]　　B．Lower the price of existing versions of products as customer demand begins to fall
　　C．Purchase the building in which the business operates （assume the company currently rents this location）
2 ]" f2 R% d" X  t! |　　D．Reduce expenditures for the purpose of developing new products
　　79．Exchange controls require the government ______．
　　A．to ensure that the foreign－exchange market is perfectly competitive
　　B．to stop buying foreign exchange
　　C．to sell more foreign exchange than it buys
" g, q4 A+ c' N3 p　　D．to balance inflows and outflows of foreign exchange at the current exchange rate
+ }- e) p& W' {( n- `6 C' I% y# M　　80．See the following diagram：
　　Bank A
　　Assets Liabilities　Rate－sensitive$20 million$50 million　Fixed－rate$80 million$50 million　If interest rates rise by 5%， say from 10% to 15%， bank profits （measured using gap analysis） will ______．
　　A．decline by $0．5 million
% H4 ~0 S' @. g  ~　　B．decline by $2．5 million
4 i. ]9 j2 e% F) {7 ^& }　　C．decline by $1．5 million
2 o+ P, H2 j  `1 n" v　　D．increase by $1．5 million