金融英语模拟试题-FECT-(4)

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1. Commercial paper ______.
3 w! @2 q  V" I: n3 _; `7 O8 l0 ZA. is issued mainly by commercial banks
B.can be either short or long-term debt
C. is most typically issued in very short maturities, such as one or two months
D. ought to be considered a capital market instrument
2. The expectations hypothesis assumes that investors regard bonds of different maturities .
8 Z4 h4 [1 R6 aA. as perfect substitutes
B. as not substitutes at all
4 B; C" c( z" P& Q; @, tC. as substitutes, but not perfect substitutes
D. none of the above
3. If the yield on Treasury bills falls from 5.27% to 5.22%, then the yield will decrease by ______ basis points.
A. 0.05
B. 0.5
C. 5
( M  z4 W$ q' n: `D. 50
4. Liquidity of a business is measured by ______.
$ ^  k# }& I% h6 c  m8 t3 \A. the rate of return on owner equity
B. the ratio of total revenue to total expenses incurred
C. the ratio of current assets to current liabilities
0 z5 P6 [3 h5 |: U+ JD. the ratio of income to costs
8 v( x1 w0 G+ I$ [5. Which of the following is an example of an automatic stabilizer? ______.
A. A change in interest rates
B. An increase in government spending
; \' K* j6 z% }3 M; ^- GC. Lowering income taxes
D. Unemployment insurance
6. Which of the following definitions fits depreciation? .
A. Allocation of the asset's market value to expense over its useful life
B. Allocation of the asset's cost to expense over its useful life
0 ]: N$ V/ Y" T; A4 |C. Decreases in the asset's market value over its useful life
D. Increases in the fund set aside to replace the asset when it is worn out
) |" F) x; P! y  w5 [$ A  O! ?7. In the balance of payments accounts, ______ are unilateral transfers.
# F6 J, z+ M2 v; @- |8 ?8 MA. direct investments in another nation's businesses
B. international transactions in securities with maturities greater than one year
0 @5 h% E5 ^+ B0 p7 _C. international transactions of securities with maturities of less than one year
D. gifts and grants
: J3 f# g! k9 O/ C8. A self-employed person who wishes to make provisions for retirement and reduce current tax liabilities should invest in .
A. a money market mutual fund
8 U5 r, V+ G; w5 E: F+ yB. a time deposit
/ N8 D' P' i' H+ q3 PC. Keogh Plan
D. a money market deposit account
, p) y% d4 [! Q) F9 G: c: _9. The central problem in economics is that of______.
A. comparing the success of command versus market economies
B. guaranteeing that production occurs in the most efficient manner
  O5 |; C* s; x2 m9 pC. guaranteeing a minimum level of income for every citizen
D. allocating scarce resources in such a manner that society's unlimited needs or wants are satisfied as well as possible


10. Which of the following is the most accurate measure of a bond's interest rates? ______.
A. Coupon rate
B. Yield to maturity
, V: P! C/ Y# FC. Current yield
D. Discount yield

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</p>11. Which of the following is a determinant of asset demand? ______.
/ i% g+ F/ U' u4 d! ~A. Expected return
- r! K' u$ }1 ^, x# ^' D. \. V" dB. Risk
/ d2 a. Z6 \2 S2 b) z2 c+ }3 N5 o/ o# mC. Liquidity
8 e3 `! V3 }) A3 s  o: H, GD. All of the above
12. Which of the following items are reported as a current liability on the balance sheet? ____.
! O6 {5 j, }* A' ~A. Short-term notes payable
B. Accrued payroll taxes
C. Estimated warranties
D. All of the above
% }5 U' e, u# q2 p. _6 p13. Which of the following is not true of fiscal policy? ______.
3 ^. \' B$ X2 R9 c; R  tA. Time lags occur with fiscal policy.
) w4 V* V2 B: Y% TB. Automatic stabilizers help the economy.
C. "Crowding out" is not a problem of fiscal policy.
" m5 o3 F) N# F% i, h% D1 q8 pD. None of the above.
# x9 U% e! Y; k3 \! }# T# j14. What distinguishes the mortgage markets from other capital markets? ______.
A. Securities in the mortgage markets are collateralized by real estate
B. The mortgage markets usually involve long-term funds
/ {1 v$ a& e* Q2 s* y' ^1 x) i  EC. Borrowers in the mortgage markets include individuals and businesses
) b% \* N* A' D  l5 J" gD. All of the above
; V  n) C5 x  `/ |15. The process of closing the business, selling the assets, paying the liabilities, and disbursing remaining cash to the owners is called ______.
$ T1 y  x9 Q- A. y6 c9 ~A. withdrawal
B. liquidation
! t6 x3 Z5 x& e0 g9 p+ }: ZC. acquisition
/ h3 q# M/ p" U, `1 q+ HD. dissolution
4 i0 K3 Y# E: _; Z16. When an investor is buying stock as an investment, the value of most direct concern is .
A. par value
* u0 j& H7 p& P2 o( p  A0 tB. liquidation value
C. market value
D. book value
17. Autonomous transactions are ______.
A. transactions undertaken by governments to enforce a price (exchange rate ) in the foreign exchange market
) w4 U  d8 L( ]! ^! c* s. \+ F' qB. transactions that are not undertaken in the pursuit of commercial profit
0 X# b0 _( Y+ S$ c& j/ XC. transactions undertaken for normal commercial motives
( O* o. ]' A: N. J9 XD. none of the above
18. If taxes decrease, which of the following correctly describes the effects? Disposable income______ consumption ______, and savings .
7 V! q+ Z# G) _! M+ Y2 nA. increases...decreases...decreases
. z0 K0 H: ~  X/ S' v- uB. increases...increases...increases
C. decreases...increases...increases
; t4 d3 L+ `5 Y. b5 PD. decreases...decreases...decreases

19. A successful company's major source of cash should be ______.
A. operating activities
2 m% |! `0 L& Y3 b1 x: GB. financing activities
C. investing activities
D. a combination of the above 20.The price index in 2002 was 160, and in 2003 the price index was 168. What was the inflation rate? ______.
' \0 @/ {, T! C, LA. 68%
B. 8%
* S. R3 U1 H6 o! m8 LC. 5%
! P, a: d4 {% b& ED. indeterminable without knowing the base year