FECT－Exercises－1（2）

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　　40. Incoterms apply ______.
; n  ?& {$ T+ S  b# f. I; Z　　A. only if clearly incorporated into the contract of sale
　　B. to International shipments beyond a certain tonnage
　　C. to international shipments under the Uniform Commercial Code
/ O8 T5 }% a, _　　D. to all international shipments of goods
! L8 i3 n- j* p* s　　41. Under which one of the following circumstances would it be wise for your customer to arrange a forward foreign exchange contract？ ______.
6 F" w7 ^4 `0 v1 {3 G! z1 B) \; I　　A. Import of goods priced in a foreign currency
　　B. Import of goods priced in RMB
7 r" M$ H6 ]5 P1 E' Q, [, z3 g　　C. Export of goods priced in RMB
) p$ B5 ~  t7 F! ]! j. g　　D. Export of goods priced in a foreign currency where the rate of exchange has been agreed in the sales contract
　　42. Incoterms address ______.
, ?2 _& r0 v& b　　A. the risks of loss between the parties
　　B. breaches of contract
& L! b6 w) k$ s, X* }　　C. ownership rights
1 x. {7 r% a  N: Y" R2 a. }2 j2 k　　D. type of ship used
3 c# B% h2 `9 o0 U　　43. Which of the following is or was an example of representative full－bodied money？ ______.
; [$ r" d0 y0 p9 K1 ~　　A. Debt money
　　B. ATS account
0 j- k  r! L$ c　　C. Gold certificate
　　D. Demand deposit
; t8 P% @, C+ i) |1 u　　44. Risks associated with investing in foreign countries are the following except ______.
　　A. voting risk
　　B. exchange rate risk
/ g/ ^; M7 V& M) E' ~! U( Y　　C. country risk
　　D. political risk
　　45. An exporter sells goods to a customer abroad on FOB and on CIF term. Who is responsible for the freight charges in each？ ______.
2 |, X" [' Z  P8 W) E3 o  Z　　A. Exporter; Exporter
4 Z  h; b) Y! _# e1 X　　B. Exporter; Importer
( p2 p6 D$ f2 n3 X　　C. Importer; Importer
1 o( X. I; r% q　　D. Importer; Exporter
　　46. Default risk refers to the possibility that a borrower may ______.
　　A. be unable to repay the principal on his loan
# e* V+ l% F# F  `& P% `　　B. be unable to make the interest payments on his loan
　　C. go bankrupt
8 p: J1 E* p7 }) L2 T　　D. all of the above
8 y0 ^% `- b( K7 l# O　　47. What is the reserve requirement？ ______.
- y- k' A* J; C　　A. The requirement of a bank to deposit a percentage of money
　　B. The requirement for deposits in cash
　　C. The percentage of a bank‘s deposits in the form of cash reserves
　　D. The requirement for cash reserves
　　48. A draft is like a check that can be endorsed but it isn‘t a title to goods， like ______.
% V7 M/ _8 p% h& W2 o. {; a$ O( O6 U; W　　A. a bill of lading
　　B. an inspection certificate
　　C. a certificate of origin
　　D. an insurance certificate
, `$ d6 V  o' @# [% m# ^* ^　　49. Arbitrage ______.
　　A. is a general economic term for buying something where it is cheap and selling it where it is dear
; N. N& [- E8 M  G% u7 t: N　　B. keeps exchange rates consistent across markets
　　C. has been outlawed by the International Monetary Fund
6 \3 N: P) T, _7 K: Z: O5 l　　D. cannot occur where there is a forward exchange market
　　E. both A and B
　　50. What is the purpose of comparing the ledger entries with the documents？ ______.
, p6 O2 \  [9 R7 I　　A. To prove that all the transactions have made for the right amounts
2 ~) W  m" L9 u' c5 D　　B. To prove that all the accounts have been posted correctly
- k& V: e7 D: N( w) M　　C. To check the number of all the debits and credits
　　D. To post the right accounts
　　51. What is Dollar Cost Averaging？ ______.
　　A. A brokerage account that gives investors cheap trades
# f9 H/ j# H' d) Z( Q6 F　　B. The idea that prices tend to rise over the long term
+ G! w% `/ t0 r% i+ i; Z　　C. Buying stocks that are below average in value
　　D. A flat quarterly mutual fund fee averaged throughout the year
6 Z1 L3 s9 P: ~" ?) Z2 S! y( A8 w　　E. A strategy of investing money on a r
　　egular basis to take advantage of market fluctuations
$ V# q* z+ v/ i2 l　　52. 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 ______.
　　A. a vostro account…… a nostro account
　　B. a vostro account…a mirror account
　　C. a mirror account…a nostro account
) N1 d( \( B/ D　　D. a nostro account…… a vostro account
　　53. Under FOB terms the bill of lading would state goods ______.
　　A. loaded on board， freight payable at destination
　　B. loaded on board， freight paid
7 m9 q+ z% `+ f( B　　C. received for shipment， freight paid
　　D. received for shipment， freight payable at destination
　　54. The liabilities of the bank as shown in its balance sheet represent the ______ which it uses in its business.
　　A. sources of the funds
; Q7 P! |2 t! T　　B. share capital
( v3 s$ [5 \8 R9 U　　C. investments
　　D. advances to customers
　　55. International payments and other messages are often sent through an international computer network called ______.

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　　A. CHAPS
8 I, n, i2 v# ]　　B. BACS
　　C. SWIFT
) _- }( s- Z6 J5 x! r  V　　D. EIMT
　　56. Low levels of uncertainty are associated with .
　　A. stocks
　　B. stock options
　　C. higher potential returns
1 ]' E" M5 ?+ b. K/ i* B2 N　　D. lower potential returns
$ L5 ^( ?9 m% v　　57. Government securities would appear on a commercial bank‘s balance sheet as ______.
! y$ c% E1 H9 V, [　　A. an asset
6 H& I& n  A6 Q2 h" p6 H　　B. reserves
& {5 H2 X# p5 q# B8 Y　　C. part of net worth
　　D. a liability
　　58. A major problem with a fixed exchange rate system is that when countries run foreign trade deficits， ______.
& r; Q0 h4 B5 w; s7 @5 w' Y. I& [　　A. there is no self－correcting mechanism
; p) b6 @+ p9 S　　B. currency values become unstable
　　C. the value of the reserve currency declines
; Q5 a( f4 F8 |+ Y9 N) @& t　　D. world inflation increases