2011年金融英语考试模拟试题（8）

会计考友

　　71．When the Japanese yen appreciates， then we might expect （everything else equal） that imports in Japan will ______and exports will______．
- V8 Z( R9 l$ v! b3 \7 ^　　A．rise．．．fall
　　B．rise．．．rise C．fall．．．fall
, t+ D* {! h/ N# J　　D．fall．．．rise
. }% w, W3 X% ?3 K% C& N+ Z　　72．Which of the following statements is correct? ______．
3 V! \' y3 @( J" F4 A　　A．A change in the discount rate usually precedes changes in reserve requirements
　　B．A change in the discount rate usually confirms policy changes
& P: D0 e4 O. e- [+ D; `2 u　　C．A change in the discount rate usually initiates a change in policy
　　D．The discount rate usually moves in the opposite direction from other interest rates
　　73．When borrowers know more than lenders about the future prospects of a project to be undertaken with borrowed funds， the lender faces the problem of______．
　　A．moral indignation
, \4 Z7 g% r2 D/ T, Z, I7 q9 `　　B．default risk
& I4 f) p( x; s* k- ~& G　　C．free riding
　　D．asymmetric information
: I6 N) j& \3 w6 f5 g, ]) P　　74．If a company's current ratio declined in a year during which its quick ratio improved， which of the following is the most likely explanation? ______．
　　A．Inventory is declining
3 d. U$ v6 m$ z9 Y$ m9 Q　　B．Inventory is increasing
　　C．Receivables are being collected more rapidly than in the past
1 p: Z8 O- `" \9 J# R# k. D' q　　D．Receivables are being collected more slowly than in the past
　　75．A stock has a beta of 0．5．What does this mean? ______．
$ e! m  R. k( D: Z* }3 F7 n　　A．The stock will fall on average by half as much as the market
　　B．The stock will fall and rise by twice as much as the market
) `  U' u' I, {　　C．Every time there is a price movement， the stock will rise or fall by half as much as the market
0 R3 K2 [& _" e' Y9 ]　　D．The stock price change will on average be half as much as the market price change
7 A: |3 R1 B7 h6 _　76．What does P/E Ratio stand for? ______．
- Y4 Q% V" k+ R- W　　A．Public Earnings Ratio
　　B．Premium Earnings Ratio
% O2 z' C7 {, \4 M! Q　　C．Price Earnings Ratio
　　D．Private Equity Ratio
　　77．If the central bank wishes to increase the level of bank reserves temporarily， it should ______．
& F; m+ g6 m6 K2 r3 w% [5 F  y3 ]: s　　A．purchase government securities outright
　　B．raise reserve requirements
3 V5 t8 a; c- U. W, K) m0 z& K　　C．buy government securities under a repurchase agreement
　　D．sell government securities under a reverse repurchase agreement
9 Y: s8 Q8 @5 A; |+ f6 }　　78．Which of the following business strategies is most likely to increase the net cash flows of a software developer in the short run but to reduce them over a longer term? ______．
　　A．Develop software that is more costly to create but easier to update and improve
　　B．Lower the price of existing versions of products as customer demand begins to fall
8 s' u: r) B5 y　　C．Purchase the building in which the business operates （assume the company currently rents this location）
　　D．Reduce expenditures for the purpose of developing new products
* T9 I8 y! j4 W7 M+ G　　79．Exchange controls require the government ______．
　　A．to ensure that the foreign－exchange market is perfectly competitive
　　B．to stop buying foreign exchange
　　C．to sell more foreign exchange than it buys
4 \# T4 B6 r6 `2 s2 A8 I" K9 C　　D．to balance inflows and outflows of foreign exchange at the current exchange rate
4 A; {+ q: [; |- H" q* D( q6 }　　80．See the following diagram：
　　Bank A
　　Assets Liabilities　Rate－sensitive$20 million$50 million　Fixed－rate$80 million$50 million　If interest rates rise by 5%， say from 10% to 15%， bank profits （measured using gap analysis） will ______．
　　A．decline by $0．5 million
0 D+ q2 M( t' P6 k% p% N　　B．decline by $2．5 million
0 ?, z; `# Z1 V8 ]( v0 \0 A+ m　　C．decline by $1．5 million
# g# _# P2 |: ~1 ~) I  v　　D．increase by $1．5 million