51．The foreign exchange market is organized as ______．
. k$ {! _5 ]# j+ W4 p3 B% w A．a physical market: `7 ~& E2 O R" N9 F' A
B．a capital market
3 U7 T, a3 k0 e+ x- w C．a speculative market: _, Z4 ^9 j( _0 B. d$ I1 ?
D．over－the－counter market- i/ ?3 v# n" d- j
52．If the central bank purchases government securities directly from a commercial bank， bank excess reserves will immediately ______．( o% s& z0 Y- T P( @/ `* w
A．fall by a multiple of the purchase
$ j6 n/ _2 H Y) L( J, D B．fall by an amount equal to the purchase
5 ~2 P" Q9 @) b, _ C．rise by a multiple of the purchase
; M: n8 S! u @" g; d# K D．rise by an amount equal to the purchase7 h" U; K, ?( @3 M0 R" m0 Q
53．The______ is obligated to pay the beneficiary of an irrevocable unconfirmed letter of credit．5 H- P# _5 o8 [) K% `1 p; \ e
A．account party
! o! D- Q! p8 n% ? B．advising bank
4 W/ r# ^' o+ i0 h# N C．confirming bank
# e* i) e" q2 [; r% T D．issuing bank$ F1 l4 K" }; h# A
54．Which of the following is not true? ______．
. y5 o. T2 J6 u A．The British Pound is the base currency against all other global currencies
4 C/ O0 z) }+ W B．In the AUD/USD currency pair， the base and quote currencies are respectively AUD and USD
" q, v5 q' K0 ] C．When an investor buys 20 000 EUR/USD， he is said to be buying EUR20 000 and selling the equivalent amount of USD! @6 Y) j6 X" X* H" @+ a; j* G' o
D．None of the above
$ D1 `: f! w8 i0 R( b$ I 55．What is a collection? ______．+ h0 c& U* ^- _6 g4 A, j
A．A form of debt enforcement! A) u* X8 U) G" R, g U; A) G6 `8 s
B．A method of guaranteeing that exporters get paid
7 s* ~! R0 ~! I% p* x C．An international trade payment method. k4 p. @4 f# ], d/ R$ U+ W, G
D．None of the above* A6 D+ r0 M Y! D( ^% S: U
56．When a currency pair goes from a low price to a higher price， the quote currency is said to ______．0 R& N6 i; }+ Y& Y% E z0 @
A．have strengthened
7 v& j! T* J; t4 i/ i0 _: E, c0 @ B．have weakened, V5 W- ], h/ k6 u) ~+ N8 T
C．remain the same value
$ W8 m: {) g( r# X D．none of the above
0 a( [* Q% ?0 b; ~9 ~, m' V 57．Which of the following is the collecting bank's responsibility? ______．6 o; t: v ^- w! ~ O- I! t9 a
A．Examination of the goods
9 |& _7 }: q. A/ T B．Keeping the remitting bank fully advised of what is going on
# f, n. z6 t+ h9 a C．Obeying the importer's instructions
% [( u3 X% T, c3 `2 }6 X D．All of the above3 T! Q4 ]0 W4 s
58．According to the theory of arbitrage， ______．
. `( Z6 X' U; W+ D6 ^/ V* u A．high－beta stocks are consistently overpriced
. l8 h( X" [$ `+ h# m) C& H, g5 |0 s B．low－beta stocks are consistently overpriced* O2 q# ^7 f! w. u0 Q7 W0 m6 k
C．positive alpha investment opportunities will quickly disappear2 ]6 g1 C# u8 G! Z, e; F- j" w
D．rational investors will pursue arbitrage consistent with their risk tolerance
# q5 V- G5 u9 H" ~0 C/ D 59．APT differs from the single－factor CAPM because， the APT ______．
: R$ ^6 y6 t' a5 e- `$ J7 o A．places more emphasis on market risk; K1 B2 N5 T% D! j
B．minimizes the importance of diversification! O9 m- v/ G) `5 E
C．recognizes multiple unsystematic risk factors
$ d8 K! }+ q2 A D．recognizes multiple systematic risk factors C! `4 T' L5 D+ a
60．The primary function of reserve requirements is to serve as ______．2 M. C$ s" R) F4 v
A．a means of disciplining overly aggressive commercial banks
$ y- b1 w2 p% x- c; r# k B．a means of reducing bank profits
- N& i5 p1 a9 ]2 ? C．an instrument of monetary control' N5 ]4 Q! i# S8 ?- I: B
D．a source of bank liquidity |
发表于 2012-8-16 08:05:44
