1. Which of the following is not a function of money? ______.( D& M- l5 ~+ q8 d4 F6 m( z& ^; [- }
A. To act as a medium of exchange" X1 [, d" N( Q' [& C/ c# `
B. To act as a unit of account9 e4 @" Z1 O) b2 ]5 }( }
C. To act as a store of value: z/ O, L; w( M7 B% x
D. To provide a double coincidence of wants
% H4 n& [" c* K$ n6 e( ~+ k/ ] E. To act as a means of payment1 L6 t$ B1 G, ^. w0 M% }1 c O
2. The price in the foreign exchange market is called ______.
6 O5 T# R- B+ O) b* h A. the trade surplus4 u" r8 V5 F- p" I9 z9 ~0 ^
B. the exchange rate2 S0 _6 o3 n* G$ \* K
C. the money price
6 d; T) q: h# Y5 s" [% p) H D. the currency rate; K2 T, c" k9 c- U% c t" E, T
3. Market risk refers to the risk of______.
( H4 ?/ }9 }1 q+ J+ U/ _ A. financial prices fluctuations. [* C$ `7 ?4 g4 \9 g
B. default
9 e5 t1 h2 O5 x7 a8 f2 P C. fraud
; Y( W8 J8 I/ {5 u4 k: l( Q" | D. deferred payments G! j$ k2 Q! a. f
4. Which of the following is not among the generally accepted accounting principles? ______.
6 u# \; B( c% I/ O A. Cash basis
; |, ?8 f9 \9 q& [ B. Prudence, z* B& h9 e( s( ?! C8 K6 d( p7 D
C. Consistency) r6 R6 p+ S% r$ t9 o) P! O# e- b$ N
D. Going concern
" I& [& j- x2 {8 a4 h# F E. Money measurement.
& C9 M/ t7 U; {5 _ 5. What is a documentary letter of credit? ______.' a5 N. D6 D+ J1 J5 X4 ?
A. A conditional bank undertaking to pay an exporter on production of stipulated documentation
1 j# A5 L- P/ ^ B. A method of lending against documentary security. q# [7 S; B( L. |+ D: G
C. An international trade settlement system biased in favour of importers; C) E' o$ u: k
D. All of the above
, `% S: J& @6 i. c) ]4 e+ k 6. Holding a group of assets reduces risk as long as the assets ______.
& y% h! Q8 x( v7 w0 o A. are perfectly correlated
/ W: U2 [" t# q0 C9 _3 o% Z Q! O: w B. are completely independent
4 ]6 @0 p' ^* f1 r0 J. Y: ] C. do not have precisely the same pattern of returns* E5 t# u6 R, v) k+ Z. k
D. have a correlation coefficient greater than one8 |3 N3 x! [2 Q' a8 u
7. An amount, payable in money goods, or service, owed by a business to a creditor, is known as a/an .
! N% v) k# q# f2 V) y A. liability7 }% _7 I" W' _, f
B. debt4 A. a8 \$ t* J' X5 j( s2 f
C. equity
+ l# u, w' E0 Q1 [ w D. asset
$ O" K5 H+ k( x I3 D) z 8. What function is money serving when you buy a ticket to a movie? ______.* ]' n8 k- ~% a& D
A. store of value
. l0 ^9 i% l4 Z+ f/ b E# d B. a medium of exchange
6 Y) r8 }) V' _ C. transaction demand
6 e. }9 r' H$ @ D. a unit of account: y. R. ]" A2 R: p* A1 u! t
9. If foreigners expect that the future price of sterling will be lower, the ______.
+ u( M1 u# \' ]6 { A. supply of sterling will increase, demand for sterling will fall, and the exchange rate will fall
3 o9 S, y3 J( u5 ? B. supply of sterling will increase, demand for sterling will rise, and the exchange rate may or may not increase9 O I% T" A8 d! `
C. supply of sterling will fall, demand for sterling will increase, and the exchange rate will rise9 g3 o0 R, p+ I3 ?
D. supply of sterling will fall, demand for sterling will fall, and the exchange rate may or may not fall
! {1 D I6 i( m; l* e! H 10. The documentary collection provides the seller with a greater degree of protection than shipping on ______.
, p4 j1 v& h: J% Z A. open account
4 }. U F( j d. {; M B. bank's letter of guarantee c' K6 ?2 V( J7 L- J" _0 a
C. banker's draft
# a& L) Y7 N- o- ? D. documentary credit
q- ]8 \ a( D% G* y* y 11. Which of the following statements is not true of central banks? ______.
) g; }& K7 K* w7 W: x; k: ~ A. They pay the government's salaries! z3 w4 [: G: c8 r) u. D3 z
B. They always undertake the regulation of the banking system
; b( d2 R" M. l0 ~8 [ C. They are always the lender of last resort% A$ q4 [) @; N) q9 S
D. None of the above
4 V: B" V. `; l 12. When GBP/USD rate goes from 1.6150 to 1.8500, we say the dollar ______.) Q, O! q; n4 ^: n
A. appreciates by 12.70%, N* M3 E9 h( g6 B! N5 A( c$ ~
B. depreciates by 14.55%
/ K9 j% h4 c, @. q' _8 [# h% t$ m C. depreciates by 12.70%1 \( j" @2 g9 u% z9 R
D. appreciates by 14.55%
# P, y. j& v5 S" M7 Z 13. According to diversification principle in investment, suppose you invest Stock X and Stock Y with equal funds, which of the following is not true? ______.
1 S9 e( c i' F8 w9 J7 ` A. If X and Y are totally independent with each other, the risk of the portfolio is reduced
: a/ T) y. q: f* H$ m! D; M: v$ n B. If X and Y are perfectly negatively correlated, the risk of the portfolio is perfectly offset
3 _! }& W, w% g3 J: a( a C. If X and Y are perfectly positively correlated, the risk of the portfolio is neither reduced nor increased8 i4 j$ \& C0 u4 S0 q
D. If X and Y are perfectly negatively correlated, the risk of the portfolio is neither reduced nor increased
" {8 U& T3 W9 Y 14. These are four main methods of securing payment in international trade:* L) i' f7 H5 ]' e
(1) payment under documentary credit0 g! B! Q9 e( \( n& {. s# G
(2) open account2 L6 v0 L# ~! E8 [ P( I1 v
(3) collection, that is document against payment or acceptance of a bill of exchange
% Q$ j' q* K; q9 f (4) payment in advance
) b8 G! n7 t- V0 s5 @8 D( S From an exporter's point of view, the order of preference is ______." U& W8 \# X; e* l- a
A. (4) , (2) , (3) , (1)
) n) ~) ~* y2 I7 }, e8 {# R B. (4) , (1) , (3) , (2)( U% c, k+ ^# l) R& |
C. (4) , (3) , (1) , (2)
: _# w {$ B5 u7 S D. (2) , (4) , (1) , (3)
H/ W& t) ~7 E! M1 G 15. The main liability on a bank balance sheet is ______.
1 h1 {2 Q5 F& [ A. deposits0 G2 s" J s* z* J9 p
B. capital and reserves
5 r; _$ @0 L8 K0 ~4 E9 N" l C. loans and overdrafts/ l* B7 F. `1 m- |3 {( O0 B
D. cash
. _ T; F" f7 U& v( f6 E 16. ______ shows that net income for a specified period of time and how it was calculated.; E# e' U4 q# S! z$ y4 A% J8 n
A. The income statement |
发表于 2012-8-16 08:05:44
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