</p>C. The accounting statement , a3 x/ Q" ?2 @. D, z# D7 Z7 r
D. The statement of financial condition
/ o6 P' F1 N8 [2 c$ t
/ r$ ~) l+ c; t! C17. Why must the liabilities and assets of a bank be actively managed? ______. . o" }& o+ ?$ w
9 w' }; K/ g% X; AA. Because assets and liabilities are not evenly matched on the same time scale
( \* L0 B: g9 O5 k6 a- f/ \7 n3 H, t. J6 ^7 x( \
B. Because assets and liabilities are evenly matched
1 V% E B4 s( d7 ]* h# i, A
/ C" a; M C4 y dC. Because the interbank market uses LIBOR $ K6 q. `& ]) `( J
& J' q6 |4 n$ I9 b# n% n
D. Because assets and liabilities can be underwritten
6 g- P# [7 \% R2 f4 w/ w$ F! ]$ p4 E" d& [4 w2 n
: B) N& N9 S! o% z18. If the expected returns of two risky assets have a perfect negative correlation, then risk .
. s8 o4 v9 V; x: R5 w$ k9 E5 U$ w+ y1 X) |% R
A. is increased " h& B2 v" e( Y C U; T
B. falls to zero
, }3 X( f0 Q" a& U. sC. is unaffected # T5 R5 p1 P& U2 Z
D. is reduced by one-half ) K) Y7 W9 M/ G3 ?, g( W
% r$ { Y8 }3 G8 h2 X+ Q0 ?2 s& }19. A possible disadvantage of freely fluctuating exchange rates with no official intervention is that . 0 z% j' K6 M+ D+ S# ^7 V
5 M0 V; t' O3 z% _! z
A. some nations would experience continual deficits ) }8 A5 N, }7 M, g5 J& {* h
B. the exchange rates may experience wide and frequent fluctuations
$ {; x& q: o% [4 s: H: E: QC. nations would no longer be able to undertake domestic policies designed to achieve and maintain full employment
: y4 h" k9 P9 w. G9 }# J/ HD. nations would need a larger supply of international reserves than otherwise
$ ~7 S8 G' @1 M0 z9 H20. What are your GBP/USD position and the average rate if you sell £4m at 1.6350 buy £5m at 1.6340 and sell $5m at 1.6348?
- G( S+ ?# \0 g. u8 `8 M6 X3 _. `A. Short £2 058 478.10 long $3 370 000 at 1.6371
, T6 J% l8 g+ D" w0 kB. Long £5 941 521.90 short $9710 000 at 1.6342
2 V0 N# Z; e9 g1 v nC. Short £5 941 521.90 long $9 710 000 at 1.6342
0 ^9 S1 Y/ F ]8 lD. Long £4 058 478.10 short $6 630 000 at 1.6336 5 F7 r- |9 O, p& @& ?
21. A correlation coefficient of1.0 means two stocks are ______. 1 Y# K+ E- C! R: \* J2 M h
A. perfectly negatively correlated ) Z+ d+ {( B: ~2 O: E
B. opposite the market beta 7 v: l; j2 o7 w
C. equal to the market beta
7 c2 `: s7 l& g, ^) {; u P4 C8 ^
, d! P1 ^6 A6 Q+ g+ n& E+ ] |D. perfectly positively correlated
! n8 g0 p2 A+ M; G2 R/ R5 S4 [8 p Q9 D; g8 J: n6 M( y! X, c% @
, {. C- C* u# p1 a" f( N+ Z1 q
* f9 o* n4 x6 ^/ {8 C22. The percentage analysis of increases and decreases in corresponding items in comparative financial statements is called ______. 9 h6 x2 W1 J' v* y6 P
7 i, {' r, N. {$ `% `% y
A. external analysis
# I0 m9 N6 B# v) N5 J& C
+ W' [ p4 ?0 {. T# h3 K& Y0 QB. horizontal analysis
* J/ e r' L; w4 s. H) `) ~2 f5 y5 }C. vertical analysis
4 t' I. T" S* W% u, k2 h: w9 x
$ M! j, ?% ^& D9 N0 \4 CD. comparative analysis % X2 I/ L% D8 S
$ z$ \9 V( A& @; g. f
& v% r9 n$ {( U6 l2 q23. What is the name of the document which can make a buyer feel confident that goods are of a certain standard? ______.
. E6 j* g) r) `! r M8 Q& w. x
) R7 A7 j1 |* OA. Inspection certificate
* y3 [* k- L1 Y( T/ t- Q/ _& p6 `; ?5 d1 j6 y' H
B. Commercial invoice
: p% `) U6 z" s" `9 S B
+ k- A; N& c* MC. Insurance policy 0 _! E% O4 O! ?3 w
: P, v4 b1 g* f1 q# |, o7 v! X1 @- d6 U" }0 H7 ~& @9 \' ^/ m
+ [6 T1 [+ X ^6 Y; l3 \) Q, j
D. Certificate of origin : }1 _+ i% w/ z& Q. Y
24. Sometimes financial intermediaries by "borrowing short and lending long" find themselves in difficult financial situations because .
- Q- y- p" U$ BA. short-term rates are falling 0 V4 a6 J+ `6 u3 E
+ R0 [ O& `) z( R2 x4 LB. long-term rates are rising , s. N: a' a3 a. o
- |8 G4 b- c; ~* \
C. deposits increase too rapidly $ D5 ~ y! F& W4 t+ H) G- m; F
D. short-term rates rise relative to rates of their holdings
8 q; m5 \9 z' \+ z! D lE. long-term rates rise more sharply than short-term rates
5 y- n* x! s8 w* z D0 \! a! d7 T$ ^# }$ i% O9 s8 }0 h5 D ~
25. Incoterms were written ______.
& ^; }. x" n8 Q1 P! {3 p, \8 D' `+ P1 D, x5 B) C
A. by the International Chamber of Commerce
6 o9 D. y: \2 F! G8 c+ `B. under the United Nations Convention for the International Sale of Goods 1 A) \- z& p8 M- e% `5 y5 @. w! ^& N8 f
C. under the Kyoto Protocols as adopted in 2000 9 e8 g% _7 B# s% j% K
D. under "fast track" authority granted by the U.S. Congress ; E+ O/ o7 h+ t" u4 F! _+ E
26. The purpose of keeping account is to . ' A* |* L# r* Y( l6 r( r- |) `
A. determine whether the business has made a profit or a loss 2 g; |5 }% |- k! ?% ~) |' v- W0 e
B. find out why the business has lost money 0 z- p0 [7 U' m8 t
C. see how much has been spent
; G3 g9 v, s+ d# d. wD. find out why the business cannot fulfil its commitments : `" x! E' @6 k
27. If reserves are 20 percent, then the multiplier effect will be ______ times, so the original deposit of RMB40 000 can create up to ______ of new deposits.
9 Z' ^% U. [6 G @5 A. C' @* V$ }. dA. 5……RMB200000 $ s6 C' W7 j3 I3 \3 S9 l
B. 4……RMB120000 $ F% A4 f1 D8 E, Z
C. 3……RMB80000
7 u! H2 u) O$ E1 t- d3 u* Q9 i& c4 Y8 Z
D. 6……RMB20000
0 j" z. V, K/ W- h, J& V
, T/ `/ E4 v5 N& a' P2 ~9 m3 z0 ]% G
8 s5 z3 d/ y' ~/ G
+ U6 N. n+ k$ G7 o3 L5 x3 z- o' C4 S9 i
28. ABC Company is the beneficiary of a confirmed irrevocable letter of credit. ______ bank will assure the company that it will be paid. , Q9 K# i# g1 L9 x$ D
; s& \1 n9 F. v k+ `
A. One / |5 M3 Q: v/ B- q& c0 \ Y- ?5 @
B. None " s! Y9 Z) _0 O6 d
C. Three . A* F0 v. B1 l2 t/ A# O
D. Two
, o7 C4 k4 [' s' k4 K+ l
4 [# B* S2 P) u [: H2 f6 r2 I29. Legal tender includes .
$ @3 s6 J4 ~% H9 `8 M" M2 o" X% v- S9 N, }) N
A. notes and coins 1 C4 D0 q4 I0 c0 y
B. notes only
+ P7 f5 S2 T) ~3 U: w }4 x( }- d( AC. coins only , j! k. s# O2 T7 [
9 D7 q+ w4 h7 U% C
D. notes, coins and checks
+ r: Z) ?/ b, `8 E7 W6 Z0 U; H# D' @' N
30. The following are the basic functions of a bill of lading except to act as ______. 2 \0 V" o& }5 E: N
A. a receipt for the goods from the shipping company to the exporter
f) @2 _% t0 x+ q1 N; ~6 Y5 yB. a document of title for goods being shipped overseas & X' }5 a# J0 \; j
C. a certificate of origin, which certifies that the goods were produced in a particular country
( p. K3 a6 `" A$ V% w8 xD. evidence of the carriage contract between the exporter and the carrier * V6 {( o; s ^; L
31. Persistent foreign trade deficits under a flexible exchange rate system usually lead to ______. # a1 B. p$ v3 C+ Y& y( E$ ]% g
0 k+ T7 i4 `, S# z/ W
A. inflation in the domestic economy |