1. Which of the following is not a function of money? ______.
) X! }4 H3 z3 C/ i3 n8 E1 ZA. To act as a medium of exchange
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: w4 X: a! c- E' Z& @ `4 F+ TB. To act as a unit of account9 l( [8 j) x/ O2 |* e; Y8 v- H
C. To act as a store of value$ b+ Z% y$ @% c+ q s h1 m* }
D. To provide a double coincidence of wants
- `; j, M: `, {5 G5 Z V7 \- zE. To act as a means of payment , D# \- a# t# {* ]+ F' x, l: @
2. The price in the foreign exchange market is called ______.8 f8 N! N; z4 W% I5 |2 {9 v
A. the trade surplus
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' M) X4 {9 ~; n: X& w& eB. the exchange rate $ {) y$ D. @9 j: ?
C. the money price % D3 H$ F1 x: ]& _7 u
D. the currency rate
. `4 C- Q# f4 X8 k. r! X# B- I3. Market risk refers to the risk of______.3 J2 [; E2 o" _( V( R- o4 q
A. financial prices fluctuations
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; z4 {# n N9 }8 DB. default
3 a9 r" ~% e6 y' S1 O4 b. u( ]1 ]C. fraud' V) S% L9 Z5 o9 @
D. deferred payments v/ ]! t$ m3 u, R, V/ e+ s2 ^
4. Which of the following is not among the generally accepted accounting principles? ______.
( J- t0 D7 o& ?9 p! X# b' \A. Cash basis
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- j# B. f3 K$ R {5 IB. Prudence
8 R. P k& R; TC. Consistency
. h2 R7 f9 ]. K$ v- ?% N) ZD. Going concern
0 G4 J7 y. P( }E. Money measurement.4 d3 o) u+ u2 s8 {6 B
5. What is a documentary letter of credit? ______.7 e8 l! {. H" N' k6 J
A. A conditional bank undertaking to pay an exporter on production of stipulated documentation
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B. A method of lending against documentary security
! z1 ? _& u1 A m" kC. An international trade settlement system biased in favour of importers
! y" z0 C8 Z! m3 sD. All of the above
3 i/ C, j) I) s# w6. Holding a group of assets reduces risk as long as the assets ______.: Q3 B3 F" `$ R, C
A. are perfectly correlated
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P! ]3 G2 U5 V8 ~' }B. are completely independent9 k& ]! t2 A0 k/ k( r; f* Y+ v
C. do not have precisely the same pattern of returns
/ |$ Z* A. C% |# j5 p1 TD. have a correlation coefficient greater than one
* u3 j% E2 r" Z, Y3 x7. An amount, payable in money goods, or service, owed by a business to a creditor, is known as a/an .* e. g( y& k9 Q2 \: g
A. liability
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B. debt
" N# x/ g: {( @0 n; [* E5 VC. equity
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D. asset
1 f- a9 Y% Z* }+ J8. What function is money serving when you buy a ticket to a movie? ______.- h1 {, O. B& i/ F8 r) ]6 l
A. store of value 4 C6 w9 ^/ O- A1 ]' e+ O" t, y
, P0 ?2 O$ _2 A- d# x2 B
B. a medium of exchange 0 w+ R( b9 V# p7 n* l+ t5 y0 s/ e) R+ X
C. transaction demand ! n. a, G; l2 z' z6 w% T5 t0 q
D. a unit of account
+ a2 [0 ~' E; c1 }: s( i9. If foreigners expect that the future price of sterling will be lower, the ______.. F2 d% o4 Z) [5 B
A. supply of sterling will increase, demand for sterling will fall, and the exchange rate will fall
9 E) W! u% J; \, \" a1 }B. supply of sterling will increase, demand for sterling will rise, and the exchange rate may or may not increase
5 y# T$ @. U! O# \! AC. supply of sterling will fall, demand for sterling will increase, and the exchange rate will rise* Y% E3 F* r" }+ B" t* q
D. supply of sterling will fall, demand for sterling will fall, and the exchange rate may or may not fall
* ` |3 `* ^2 M10. The documentary collection provides the seller with a greater degree of protection than shipping on ______.
/ b; @! _# X+ DA. open account
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; _. T U" {" j0 y* q3 eB. bank's letter of guarantee
8 C" t' W6 E& W+ ~; \% ]C. banker's draft % |+ V$ I& P1 W- P
D. documentary credit
% W& d" i0 ]0 s) A6 i9 H0 [9 c$ u, ?11. Which of the following statements is not true of central banks? ______.1 V" o- u1 o$ Q3 `
A. They pay the government's salaries
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B. They always undertake the regulation of the banking system
# w, k) G s$ S( D! ^2 vC. They are always the lender of last resort
0 ]) X/ b4 F7 E: g- AD. None of the above
]# U* q2 e4 x+ g& Z12. When GBP/USD rate goes from 1.6150 to 1.8500, we say the dollar ______.
. G/ y5 T( w( dA. appreciates by 12.70%
! b) ]' I& V T2 N; q% {# d M, S$ N# o1 u0 R4 K% _
B. depreciates by 14.55%
( b/ y& C* O. J/ r' |% z" `0 _C. depreciates by 12.70%
, `6 g; L( v& ~* H1 W, gD. appreciates by 14.55%
" |: i! u' z9 m$ ^7 {& x13. According to diversification principle in investment, suppose you invest Stock X and Stock Y with equal funds, which of the following is not true? ______.
! ]) ~% ]+ k3 L* LA. If X and Y are totally independent with each other, the risk of the portfolio is reduced
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; z1 g2 B, O! m, zB. If X and Y are perfectly negatively correlated, the risk of the portfolio is perfectly offset6 ?8 K! K5 e U- \( s
C. If X and Y are perfectly positively correlated, the risk of the portfolio is neither reduced nor increased5 l5 Q9 X/ l) P' P: W) V. m
D. If X and Y are perfectly negatively correlated, the risk of the portfolio is neither reduced nor increased # c* h' a2 D) z3 |' F; m; ^) e5 q
14. These are four main methods of securing payment in international trade:
& H- ^. o9 V8 i! s, s0 [: t3 R) `" m(1) payment under documentary credit. m5 F6 S1 A2 n
(2) open account8 l. I8 n' j9 J/ K: F
(3) collection, that is document against payment or acceptance of a bill of exchange
' l# R9 R; `7 ]0 U3 u; Z(4) payment in advance( a: |0 @4 U" e* g0 S5 O/ i, L
From an exporter's point of view, the order of preference is ______.: u2 [7 X/ R; U! H
A. (4) , (2) , (3) , (1)
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B. (4) , (1) , (3) , (2) 0 I5 {2 R8 J0 H* y& Q" P! Z
C. (4) , (3) , (1) , (2) 0 E; x2 ~ a s
D. (2) , (4) , (1) , (3)
. R7 B. E) S. b( X15. The main liability on a bank balance sheet is ______.
0 Q+ ^' b) D- ~. s1 }A. deposits ) G4 B+ B5 ?% i: } E& p
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B. capital and reserves* n# _2 E5 G% D; n
C. loans and overdrafts
9 w" X7 W |/ z+ G2 ]- QD. cash & `$ } r) ^& B6 e8 }/ H
16. ______ shows that net income for a specified period of time and how it was calculated.
& a3 u. c5 j6 o3 h: `3 GA. The income statement
+ w8 }1 k& F4 G8 \3 J/ {$ k$ {5 T$ B. d- \- v
B. The capital statement0 R) u2 E" A& i3 d
C. The accounting statement4 _ n9 o% b$ h8 h8 E+ p) b! C
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D. The statement of financial condition |
发表于 2012-8-16 08:05:44
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