1. Usually the low interest rate currency trades at a ______ to the high interest rate currency in the forward market.
) \, B7 E+ c9 [. A2 ~) ` A. premium
2 U6 [3 }: R- I0 ?& x8 x1 b# B- p B. par
: k5 ~7 f8 z' O% A. Q C. discount; z' P. J( c; Q( ?" H/ v l8 R6 i
D. bar
7 m2 c. j. y. K& G4 H" N2 ^& @4 C 2. Which of the following statements about standby letters of credit is true______.) R+ H# V0 o: ~* J- I
A. They can serve as a guarantee to a buyer against a seller defaulting
$ n! ]4 ^3 G4 Y) O: F6 E5 e B. They are contrary to the general rule that letters of credit may only be used for the actual movement of goods. p$ }' U; A5 W5 n, D4 S
C. They are unlike a tender (or other) bond in their legal standing and method of operation
0 n/ i, a0 U# t1 Z. i; L' e' h7 } D. They are unlike a tender bond with its fixed expiry date
: h x: x+ D6 r2 T! x( {2 q, V 3. The most liquid of all assets is ______.
- y4 f5 `0 k& Q A. the stock of commercial banks
4 X: P( P3 r' V2 F B. M 1
( L B& C' e8 o/ n7 n C. intelligence9 v0 p* ~$ `" F* {4 s, c
D. the debt of major corporations' b# q, U( l& U- d' X4 \, M; m
4. Beta and standard deviation differ as risk measures in that beta measures ______.
4 \4 P# H, W9 ] n A. only unsystematic risk, while standard deviation measures total risk: g2 K) |( r6 ?1 I' \
B. only systematic risk, while standard deviation measures total risk
' D. {; U, [$ q- @ C. both systematic and unsystematic risk, while standard deviation measures only unsystematic risk
1 c" s9 J$ Y* m6 u" F D. both systematic and unsystematic risk, while standard deviation measures only systematic risk
# k0 j' n$ k o& F& e9 | 5. What information would you find in a statement of cash flows that you would not be able to get from the other two primary financial statements______.
+ O- F/ H9 ~# N; Z* u) N3 v; L A. Cash provided by or used in financing activities
$ J$ Q4 g( h+ w7 _/ n2 c. \ B. Cash balance at the end of the period
- p# a: c# @% O) q2 R$ z/ | C. Total liabilities due to creditors at the end of the period
W5 M( n) H( S4 m D. Net income
: h3 J5 z3 j) v6 u0 W! x 6. An analyst estimates that a stock has the following probabilities of return depending on the state of the economy:8 K) D$ }5 ]$ K( o( X
State of economy Probability Return! H4 G! q* G; w+ w9 F; ?
Good 0.1 15%& a) B* `% J( w1 S
Normal 0.6 13%
0 O- u: C, Q( q, c Poor 0.3 7%8 ~, o7 U/ _7 }
The expected return of the stock is ______.
; `) e$ Y3 ? k, W A. 7.8%& ?6 C! t& i- f
B. 11.4%
! d; T: }! s4 a, P1 a: e$ C T9 h' Q C. 11.7%
P7 u5 T; q* m( w2 n) o1 M+ e D. 13.0%
: J# `/ K/ B* P z( P 7. According to the rules of debit and credit for balance sheet accounts ______.
( G: ?8 z8 m% \/ ]7 f A. increases in asset, liability, and owner's equity accounts are recorded by debits- T Z2 l3 H2 R% p! R) U
B. decreases in asset and liability accounts are recorded by credits9 ^' z1 k H& F, [% h
C. increases in asset and owner's equity accounts are recorded by debits" D8 i/ T5 U; w1 V0 |3 E; E. R |
D. decreases in liability and owner's equity accounts are recorded by debits
- O8 |$ G3 C. L8 l2 h 8. Individuals will accept the medium of exchange in return for goods and services only if they are confident that ______.! @& _: \2 o+ F
A. the inflation rate is zero1 b9 M& x6 E# L( x
B. it possesses intrinsic value: I$ U. g" R; p: {3 ?
C. they can pass it on to others7 b1 W; V0 k& q) h8 A- R
D. they can exchange it for gold
& p+ z3 i$ }( M+ b 9. When a country's currency appreciates, the country's goods abroad become ______ and foreign goods in that country become ______., j, ^) X3 c) W+ \4 ^9 _# ?6 m, d
A. cheaper... more expensive% U/ w; a: m( g
B. more expensive... cheaper. w8 R' D7 [; ?- N: Q% v/ J2 L
C. cheaper...cheaper
: X( c4 Y* \5 H! o O5 D6 h D. more expensive... more expensive; n* j( l6 R h3 T$ ?0 i# A- P! e
10. A US company is bidding for a contract in China. Its Chinese customer asks for a performance bond. What is the most likely course of action______.
" `* ^1 D; g) u8 L7 t( H+ K A. It asks its bank to issue a tender bond which can be converted into a performance bond
8 J1 k4 u& Y' V1 A! \( P B. It gives up its bid
* K8 Z( T1 F" i, x4 C5 J C. It consults its bank about issuing a standby letter of credit
! _; Y: Z( O8 d2 X# U D. It asks its bank to issue a performance bond+ Y- D6 k5 }9 \
11. ABC Co. Ltd. has a $3 500 account receivable from XYZ Store. On March 20, XYZ makes a partial payment of $2 100 to ABC. The journal entry made on Mdrch 20 by ABC to record this transaction includes ______.
; N) e1 g/ q1 Y' \1 U A. a debit to the cash received account of $2 100- L$ _6 h5 ^2 e( n
B. a credit to the Accounts Receivable account of $2 100* B# y7 S: s0 n6 V" e0 E) J
C. a debit to the Cash account of $1 400
, U Y1 U' o5 X; y: Q+ Q0 D: n D. a debit to the Accounts Receivable account of $1 400$ x! l/ V: M' E; x/ E1 }
12. Intervention in the foreign exchange market means the government ______.7 V( X9 |0 B& ^6 \
A. restricts individuals from buying and selling foreign exchange `5 Y1 T! J7 a) Z7 l8 @
B. restricts the importation of certain goods
0 H* l' ~! b1 Z0 g. r C. or central bank buys or sells foreign exchange
0 x0 _4 A% u2 R# y8 v D. devalues the currency in the foreign-exchange market
' ~' C$ R! r* d9 N2 w4 O2 ^) u2 a 13. Which of the following is not a form of countertrade______.
7 a+ D. n2 m2 b2 B- `1 ]+ ?7 T1 c A. Counterpurchase
! l. u( t3 p4 \& a+ T. F; _- Q B. Buy-back/ _2 t* H) a8 N. k
C. Offset" w+ A# y5 S% E7 B( L! v. z+ X
D. Balance trade
- A4 T) l: \7 D) i: A3 q% n" y3 ` 14. A credit to a revenue account ______.# O$ q$ M0 O: d; F# d
A. decreases revenues
* l# f5 U q* Y6 s. Y' W; g; T B. increases equity |
发表于 2012-8-16 08:05:44
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