1. Which of the following is not a function of money? ______.
9 l# A5 ?% I. r# XA. To act as a medium of exchange ( Y! U9 f" a( c" T$ y" R( F1 I
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B. To act as a unit of account: c9 I" ?3 m" n
C. To act as a store of value$ s1 u: |; }% w
D. To provide a double coincidence of wants
% R" e' W, Y7 ]+ g0 w% J3 ~E. To act as a means of payment ! B* Q5 T$ }) D
2. The price in the foreign exchange market is called ______.
$ C" V5 h* o% w% I! ^7 cA. the trade surplus
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B. the exchange rate
1 D) {. t& Y+ Q$ E7 g6 n# D6 X& XC. the money price
, R7 n2 A6 N+ C) o) dD. the currency rate
7 n2 }/ i+ ?5 e3 e3. Market risk refers to the risk of______.$ ], i: m- |; K) X( r1 @$ I
A. financial prices fluctuations
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6 ^% {; g7 o$ Z9 e! t; f. WB. default. |, `) R% p0 i9 y
C. fraud
3 j) a1 i9 r( A; @, w# t' U. h0 e7 HD. deferred payments
' a- O! e' T& T+ v4. Which of the following is not among the generally accepted accounting principles? ______.
- Z) Q3 a8 ^% a& i$ ]A. Cash basis
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B. Prudence' G: C' G% h- s( ], ^- Q
C. Consistency 9 c6 w0 n( ^: c8 Y8 Q
D. Going concern ! w0 Q/ w% p- W. w- Y0 K
E. Money measurement.. @9 s1 S$ n0 B" ~/ s; z
5. What is a documentary letter of credit? ______.! j4 Q( ^# b. u3 G1 ?
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 security0 \4 B' q9 f) v* [
C. An international trade settlement system biased in favour of importers) ?0 J: g8 @5 M v# z" l! h% _+ K8 c# c
D. All of the above # o" q/ X% x4 |" M; V) ~* \) U
6. Holding a group of assets reduces risk as long as the assets ______.
; m- |) B) { V: S) I# eA. are perfectly correlated
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3 h1 X) ]6 f0 R2 {B. are completely independent
% M" ^% e& r5 E* LC. do not have precisely the same pattern of returns . }7 R) X% S% d Z' i$ K3 @8 g
D. have a correlation coefficient greater than one
8 t4 Y6 {$ y! ]7. An amount, payable in money goods, or service, owed by a business to a creditor, is known as a/an .# f7 c% G- X3 _2 p5 E
A. liability 6 [3 B2 Q1 J! m$ r- z6 O0 L& X
4 {* L8 W! m$ }( [0 xB. debt
+ b7 U2 Y# L1 L3 GC. equity
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1 ^4 P4 R- }' ]5 w' W1 [D. asset" ?) C5 L9 g( W8 H2 r( q# U
8. What function is money serving when you buy a ticket to a movie? ______.
1 y0 I; U a" ?' l+ eA. store of value 8 z- h- v2 G9 \, h4 d! m- {
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B. a medium of exchange ! J. g+ q& H# S6 ?5 W7 R% Z1 z S
C. transaction demand
1 _6 r3 ?7 m% f0 cD. a unit of account
# I* E" @4 Z8 C. g) z: S9. If foreigners expect that the future price of sterling will be lower, the ______.
' J/ v. _3 @2 \: P( T7 H9 J/ mA. supply of sterling will increase, demand for sterling will fall, and the exchange rate will fall ; t' U, ]* I5 I e9 O- r
B. supply of sterling will increase, demand for sterling will rise, and the exchange rate may or may not increase1 v) `+ T( X7 J% ~. _
C. supply of sterling will fall, demand for sterling will increase, and the exchange rate will rise
# O" v6 z- C; j0 H2 m" vD. supply of sterling will fall, demand for sterling will fall, and the exchange rate may or may not fall 8 Q& z, t9 z7 a/ S# P
10. The documentary collection provides the seller with a greater degree of protection than shipping on ______./ Y, I V: T8 ?9 O+ q7 t
A. open account - ?/ V! R9 R6 H
' F4 [' \8 y, d: e5 H, a5 jB. bank's letter of guarantee
+ a1 r, J* q. ~% [' L5 `C. banker's draft
; g$ x6 E A' |3 j% l0 X7 HD. documentary credit $ I+ r; Q% y! J9 ~. c
11. Which of the following statements is not true of central banks? ______.0 v. Q- b ~4 {9 m# {9 l
A. They pay the government's salaries 4 z! B# h8 o: m$ B9 A6 ?
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B. They always undertake the regulation of the banking system , x r$ {* ~; E( S
C. They are always the lender of last resort
" X" Y3 l. g- |# \; ~2 S- lD. None of the above
- Z, ]5 M9 S+ O. c3 S C {+ y% N12. When GBP/USD rate goes from 1.6150 to 1.8500, we say the dollar ______.- C) \+ J* T' A2 m- E2 O6 q
A. appreciates by 12.70% 6 ~4 W* ^. [$ v' ?
9 x) Q, g8 r( e* A T% h, o nB. depreciates by 14.55%1 W" l% g) S, R4 }; D# {
C. depreciates by 12.70% 7 f1 X$ j0 \, X2 Q }
D. appreciates by 14.55% ' u9 q) d9 {8 E7 k$ ?
13. According to diversification principle in investment, suppose you invest Stock X and Stock Y with equal funds, which of the following is not true? ______.& Q6 p- ]+ I! X1 c
A. If X and Y are totally independent with each other, the risk of the portfolio is reduced # s$ K: @% t7 N; D4 v
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B. If X and Y are perfectly negatively correlated, the risk of the portfolio is perfectly offset) C; }- R3 j) u' R3 \' w' k& _
C. If X and Y are perfectly positively correlated, the risk of the portfolio is neither reduced nor increased* H0 ^8 \: w# d% D: x
D. If X and Y are perfectly negatively correlated, the risk of the portfolio is neither reduced nor increased
2 e9 d8 L! z' x X- p7 }14. These are four main methods of securing payment in international trade:
; [) K/ v3 R: }& ?(1) payment under documentary credit
6 h) \) T& l0 K R# g: Q) S! M, o(2) open account
" g" Z1 y( [ c+ i(3) collection, that is document against payment or acceptance of a bill of exchange
6 p" t) H5 ?/ ]( T(4) payment in advance. M4 j8 E1 j/ O: `2 M
From an exporter's point of view, the order of preference is ______.
: l3 l6 W' M# G/ R) G9 TA. (4) , (2) , (3) , (1)
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B. (4) , (1) , (3) , (2) 8 k' Y/ d- h2 F
C. (4) , (3) , (1) , (2)
- y" E( T' D# u8 j4 m' sD. (2) , (4) , (1) , (3)
$ q- n3 n: K( s! v2 w15. The main liability on a bank balance sheet is ______.
0 P% f \$ I1 J$ K: wA. deposits 5 s% a+ U; [2 G1 v1 }1 Z( X6 W1 d2 @
3 ?" X- m: E1 u* f: nB. capital and reserves
1 W! y9 y7 Y9 j1 K1 \C. loans and overdrafts
8 W; O" \9 }! G& aD. cash & m% x. D) b: w# t7 Z% y: d
16. ______ shows that net income for a specified period of time and how it was calculated.
; G7 U4 ~! f# u* O3 B% IA. The income statement ' I3 Z/ ~. U# }$ `4 U: }
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B. The capital statement
- s: Q( E% e! A# \+ `( p( UC. The accounting statement( r% p- [" ?. p B% ^2 d2 R/ d
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D. The statement of financial condition |
发表于 2012-8-16 08:05:44
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