81. In documentary collection, the documents will not be delivered to the buyer until ______.
" g8 @7 z/ D4 k, [3 A1 R A. the goods have arrived& ?( X. C+ F7 M+ V2 |0 {
B. the buyer has cleared the goods
3 y, l2 M1 V* { C. the bill is paid or accepted, h+ M5 X3 U# L( ?
D. the seller says so( o3 Q0 y* J$ j1 Y- `9 ~
82. In documentary credit operations, all parties concerned deal in ______.
% A! r% ^( L& U" G: T, t A. credits% g+ }4 H" |+ [
B. documents/ \( P8 M4 W+ N U0 U
C. contracts
* ~& }* M% e/ u5 n/ g D. goods
3 Z5 W; E) f( B: S/ g 83. A check involves______.
2 {; n$ M- }6 |. b: `4 G N A. the writer, the signer, the cashier, and the bank( H0 q- Y$ M4 j% I- y" q; K
B. the drawer, the payee, and the bank
* Y: F7 T+ x2 _- q C. the drawer and the payee$ [5 D( ?; V# {& P$ U, ~
D. the signer, the payee, and the company7 a3 [, c% M$ K6 l+ g5 }3 h2 m
84. Assume a bank has $200 million of assets with a duration of 2, and $ 100 million of liabilities with a duration of 3. What is the duration gap for the bank? ______.
4 W9 b e5 Q$ }2 R5 j# i/ Z A.22 u/ T" U0 x3 A- ?/ y
B.-1
4 e* T. v% O# D3 @0 L C.0.5
/ M: P2 C+ F9 K D.-4
2 C, j$ w7 V4 J0 Z+ ? 85. When a central bank allows the purchase or sale of domestic currency to have an effect on the monetary base and hence on the money supply, the intervention is said to be a/an _____ foreign exchange intervention.
. O% w/ t' W* G+ T A. limited6 _% \) X0 }- q/ {$ D
B. unlimited
H5 w. P |, n" z C. sterilized6 N- X; D# v% V* G z( q: [% Y1 w
D. unsterilized, Z) j' A+ j0 }4 B' t/ n
86. The shipper wants assurance that his goods will reach their destination. The bill of lading gives him this assurance. It thus serves as a ______.7 ~# I6 |# G' ~ r0 Z! R& \; u: b
A. contract for delivery+ z: ^) ]5 X9 ^" T
B. receipt for goods
5 ?9 e+ v3 v% B- U7 @- F w C. title document4 |. m! O% X3 {
D. negotiable instrument
# x: G& p# W# i# I. N+ t 87. A sound policy to combat a temporary liquidity shortage in the banking system would be .# B# K2 \, C% c( T! Q$ m F
A. an increase in the discount rate
+ ?- H: O* @/ ~ O B. an increase in reserve requirements4 u# w1 {- i L- k$ H+ _
C. a reduction in reserve requirements0 y. y% _8 o% |5 p3 y8 C
D. the purchase of government securities under repurchase agreement7 V8 k0 r \: q0 @$ G* |
88. The narrowest definition of money is referred to as ______.
5 ~1 U! q; q8 J/ B7 O A. M o. H/ r: o: d; y& X/ u/ C8 k
B. M 18 `$ \2 o8 j, h" \
C. M 2/ S# T% l! k" }; B& C
D. M 3
. l8 [2 k4 c9 r( O9 c+ n 89. Which of the following is the term used to describe the offsetting of the effects of intervention in the foreign exchange market on the domestic money supply? .- G9 z: Y5 \( d5 `+ O6 A+ ^6 G
A. Daily intervention/ a; K7 g6 V9 {9 @& G
B. Sterilization C. Discretionary monetary policy
/ V4 H% o, u$ i+ w D. Discretionary fiscal policy
" N" Z* u1 U$ G 90. Under a fixed exchange rate system and freely flowing capital, . t% A( Y9 `, W4 C/ Z% u3 y3 `
A. fiscal policy is ineffective8 J) o* C' s2 H* T: X) f. N6 N7 B! `
B. monetary policy is very effective* N+ {# h9 ?1 l3 p# D
C. the supply of money is very important
& V: E+ m" |# ~: l# g' r; ~$ F D. monetary policy is ineffective |