81. In documentary collection, the documents will not be delivered to the buyer until ______.
6 t2 Q6 J& P6 n! w, X! ]2 K A. the goods have arrived
- ^0 |/ x2 g3 Y+ _* c2 v* i: ] B. the buyer has cleared the goods& v* p7 a% H2 S" H2 r
C. the bill is paid or accepted g& u$ ]( k" O6 E& p. Y7 S7 a
D. the seller says so
0 O4 _3 v& a K2 b5 ?4 c" N' E 82. In documentary credit operations, all parties concerned deal in ______.; K* G. t- N& Q* r" l- n( [" b
A. credits" A/ f2 x2 W2 }- p
B. documents* l& S( n! H* B6 K( Q
C. contracts
C8 I( ~8 n1 V3 w" t+ K( w D. goods
4 Z& d* ?; b9 S 83. A check involves______.* ~/ q0 K2 l1 ^. r
A. the writer, the signer, the cashier, and the bank) ~: K" l; }/ {8 L0 I
B. the drawer, the payee, and the bank5 p( z3 z8 y* q5 {! i
C. the drawer and the payee3 t- U- W/ j! I, `& S: f
D. the signer, the payee, and the company5 N* j! A0 t a1 ?
84. Assume a bank has $200 million of assets with a duration of 2, and $ 100 million of liabilities with a duration of 3. What is the duration gap for the bank? ______.- i. ^0 ~$ f% f. c$ ~
A.2; Q- ^& R! f- _
B.-1
$ o ~9 E3 M Y! M C.0.5
, \6 |% d3 b. U6 U D.-4
5 g' q, W# K R& A" |0 B8 {# H 85. When a central bank allows the purchase or sale of domestic currency to have an effect on the monetary base and hence on the money supply, the intervention is said to be a/an _____ foreign exchange intervention./ W5 h+ C: L5 J( f3 u
A. limited% J! O Q' P1 g
B. unlimited
0 c) X9 Q i( r C. sterilized; d+ d6 S. s9 c9 X1 F
D. unsterilized
( J3 ^9 g; ]: B2 W+ D1 P( R 86. The shipper wants assurance that his goods will reach their destination. The bill of lading gives him this assurance. It thus serves as a ______.* W4 x( \2 U, A6 n% \& b& N- E8 ]0 v
A. contract for delivery# y s+ t; g9 T" S; l o, ]7 Z b
B. receipt for goods& {1 x& } t8 d
C. title document; u; x+ q6 P: j' c8 @, i8 I' V" K
D. negotiable instrument
9 a& c9 S* x5 H; {1 D. S! ~1 M6 { 87. A sound policy to combat a temporary liquidity shortage in the banking system would be .4 ~' ]0 q( l. } S
A. an increase in the discount rate4 _4 Z/ N9 E3 [
B. an increase in reserve requirements+ u9 p/ E7 r* C; }/ X: y
C. a reduction in reserve requirements$ v# k1 X) M# [
D. the purchase of government securities under repurchase agreement1 `, w' m/ c' G
88. The narrowest definition of money is referred to as ______.
9 v( Z" `" X- `! Y5 h5 t A. M o$ R( C; C3 u& i6 ~9 a# l. A& U9 z
B. M 1
+ f J' z2 ?3 n: Z5 V C. M 22 \% { n: [. F0 n7 W
D. M 3# X& Q1 M. j- o6 U
89. Which of the following is the term used to describe the offsetting of the effects of intervention in the foreign exchange market on the domestic money supply? .
! [4 I2 l- b: E! x0 r& z A. Daily intervention
$ X3 t+ w4 H4 I8 ^1 X B. Sterilization C. Discretionary monetary policy9 R k( d0 z% E. R3 K5 \
D. Discretionary fiscal policy
( T7 K4 c) ]$ d" ]( P) C( D 90. Under a fixed exchange rate system and freely flowing capital, .
2 d$ x7 k3 z" u A. fiscal policy is ineffective/ f Y% s# w. B0 `+ ^2 C" i
B. monetary policy is very effective
7 _/ H. i: c. O" |) } C. the supply of money is very important0 w, C, ?. ^) i) V0 I- `
D. monetary policy is ineffective |