金融英语FECT模拟练习题（1）

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1. Which of the following is not a function of money？ ______. A. To act as a medium of exchange
: b3 E7 D$ r* `; g& x4 `0 LB. To act as a unit of account
C. To act as a store of value
3 C$ R4 Y' A! M+ M4 t; `% GD. To provide a double coincidence of wants
0 Y- A+ A6 R% iE. To act as a means of payment
2. The price in the foreign exchange market is called ______.
+ _1 `1 w. S. T' a5 ^0 K4 |7 r, _A. the trade surplus
6 d. g+ U  G' K0 U8 N- rB. the exchange rate
! Z& G0 v) A6 I8 N9 w' }) IC. the money price
% u3 p/ h* a0 m: HD. the currency rate
3. Market risk refers to the risk of______.
A. financial prices fluctuations
+ p  f* s- s: [B. default
( l" [- z4 W0 V2 }. _* q) y6 S7 ZC. fraud
) V8 T' G; l- o* k0 ?8 h% H) c3 bD. deferred payments
4. Which of the following is not among the generally accepted accounting principles？ ______.
A. Cash basis
  i) s# [7 T3 f2 Q; u7 KB. Prudence
C. Consistency
D. Going concern
+ ?9 @+ i% ^3 v5 j, G/ c& ?& N; |E. Money measurement.
/ F3 H: E* W; f: J5. What is a documentary letter of credit？ ______.
+ r, C. V. H0 K- NA. A conditional bank undertaking to pay an exporter on production of stipulated documentation
: E9 h8 C3 \6 u1 w1 c/ j, j3 OB. A method of lending against documentary security
. g" D' i3 c% fC. An international trade settlement system biased in favour of importers
& N8 q3 }' ~  @7 |; i6 hD. All of the above

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6. Holding a group of assets reduces risk as long as the assets ______.
; k4 n3 {+ N2 x+ e2 f5 K# ]/ pA. are perfectly correlated
  C; ^8 s9 ^' O, Q2 HB. are completely independent
C. do not have precisely the same pattern of returns
D. have a correlation coefficient greater than one
7. An amount， payable in money goods， or service， owed by a business to a creditor， is known as a/an .
5 J/ m) r& V9 b1 W- `A. liability
B. debt
% m% i% y7 d0 p1 [& t% _C. equity
% `6 A9 M! ~+ ]# k2 x2 Y# J) t6 lD. asset
8. What function is money serving when you buy a ticket to a movie？ ______.
0 o- J5 `' J/ @( U% GA. store of value
B. a medium of exchange
. D3 W; U; i3 sC. transaction demand
D. a unit of account
9. If foreigners expect that the future price of sterling will be lower， the ______.
A. supply of sterling will increase， demand for sterling will fall， and the exchange rate will fall
' r' Y5 X) e0 [- D- T. f0 e. M. ~  ZB. supply of sterling will increase， demand for sterling will rise， and the exchange rate may or may not increase
5 n% }2 o1 Z" [) U, K! H" GC. supply of sterling will fall， demand for sterling will increase， and the exchange rate will rise
  |5 Y, u9 L6 sD. supply of sterling will fall， demand for sterling will fall， and the exchange rate may or may not fall
1 D; V- [6 V3 r10. The documentary collection provides the seller with a greater degree of protection than shipping on ______.
A. open account
( l4 {' X8 ~6 V5 X" O  q  n' }8 O( BB. bank‘s letter of guarantee
0 L! ~+ @: l- F7 E! FC. banker‘s draft
D. documentary credit

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11. Which of the following statements is not true of central banks？ ______.
/ r5 \9 t& R- e; {+ U  pA. They pay the government‘s salaries
B. They always undertake the regulation of the banking system
* N) X( Q/ J3 H: _% R0 JC. They are always the lender of last resort
; @' [+ m% ^. W4 u! c5 wD. None of the above
12. When GBP/USD rate goes from 1.6150 to 1.8500， we say the dollar ______.
A. appreciates by 12.70%
B. depreciates by 14.55%
" H2 j1 h* Q% K; X6 }7 ^C. depreciates by 12.70%
% v5 H  W8 H; E+ G  CD. appreciates by 14.55%
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？ ______.
A. If X and Y are totally independent with each other， the risk of the portfolio is reduced
9 E  c8 m# G8 @: p2 |8 \B. If X and Y are perfectly negatively correlated， the risk of the portfolio is perfectly offset
- O; Q" k+ g; D, a/ l1 f- w7 vC. If X and Y are perfectly positively correlated， the risk of the portfolio is neither reduced nor increased
- _, U) s  H' X) mD. If X and Y are perfectly negatively correlated， the risk of the portfolio is neither reduced nor increased

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14. These are four main methods of securing payment in international trade：
payment under documentary credit
open account
: A7 t+ B; W. V$ ?6 B" Acollection， that is document against payment or acceptance of a bill of exchange
payment in advance
From an exporter‘s point of view， the order of preference is ______.
: [& X6 W# V  v3 e- ~- |- SA. ， ， ，
B. ， ， ，
C. ， ， ，
D. ， ， ，
* a/ S% A: c) E4 \5 a- ^15. The main liability on a bank balance sheet is ______.
A. deposits
2 S9 Y+ D7 u% K. oB. capital and reserves
  B' m" ~8 r& \1 S1 v8 d7 cC. loans and overdrafts
D. cash
  ]' \# p) |* Z  h16. ______ shows that net income for a specified period of time and how it was calculated.
, K/ d; O, c- a- P7 v7 M4 PA. The income statement
B. The capital statement
/ U) X7 O$ K' r; dC. The accounting statement
D. The statement of financial condition
' x2 K, C, X$ O% z17. Why must the liabilities and assets of a bank be actively managed？ ______.
- y6 u4 k1 |" W. }$ ^7 j. f3 XA. Because assets and liabilities are not evenly matched on the same time scale
  [0 S* ]: ^3 b- J- y  LB. Because assets and liabilities are evenly matched
/ h# Y/ c. M/ @C. Because the interbank market uses LIBOR
D. Because assets and liabilities can be underwritten