81. In documentary collection, the documents will not be delivered to the buyer until ______.
/ D% v5 N! @ v H2 x6 t; @ A. the goods have arrived
h6 @5 `0 O" } m4 b4 m B. the buyer has cleared the goods
3 H& g; b" b( S+ K( D0 T5 X8 g C. the bill is paid or accepted
V- l4 ` W3 Y' d D. the seller says so! P6 _8 K* D5 l. E: u1 e! W% Y
82. In documentary credit operations, all parties concerned deal in ______.
8 N0 ?. n6 F/ E) q A. credits) i+ E' R8 X2 G1 ]
B. documents
3 |! L& n% `) p0 _% @* ^; w: m C. contracts
4 k0 `) I/ e [ u0 H D. goods
! p. ?3 H9 x* h 83. A check involves______.# O+ B0 X; _7 T% X+ i
A. the writer, the signer, the cashier, and the bank
0 E: G* r+ h) i9 |7 H4 B B. the drawer, the payee, and the bank
3 ~' z2 `4 f9 m8 y+ \ C. the drawer and the payee# e3 Y, R; M+ T# ~- |: s5 S" t
D. the signer, the payee, and the company
$ U% e- d! K& @; L* F 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? ______.; T4 D% T; R7 v. w1 n0 c }
A.2' E; f) O0 O* Q- W! s. }
B.-1
% i0 ?# B1 W2 P5 y$ N8 a C.0.5
/ }8 g" _, @, y( j D.-4# f4 N {5 k: u6 y& y4 C& y$ U) T
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.2 B- N9 p, K' U# U
A. limited. \$ X; P: X( J/ _' @- L2 r
B. unlimited
4 d# A# G/ g2 z C. sterilized7 k- b3 c% a% g
D. unsterilized
1 {% P: F; R% d9 O 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 ______.
9 p' e; ?0 e) ]' I A. contract for delivery
: k& C! S4 J/ a. A B. receipt for goods
4 W( Z) K( J5 S) V W C. title document0 f _* P; i8 ^
D. negotiable instrument& w- k& _' w; O) ?4 G+ z4 D
87. A sound policy to combat a temporary liquidity shortage in the banking system would be .
+ f+ M9 E. @8 i- }/ P1 D A. an increase in the discount rate! v% I+ N- g) O L2 U2 P9 ?+ Z$ ?
B. an increase in reserve requirements% C- p# a: Y6 T3 }6 ]; h3 c
C. a reduction in reserve requirements# [* A$ F @" _4 D5 p+ I
D. the purchase of government securities under repurchase agreement
: ~9 J# D9 V! j% D2 z3 V( f! w 88. The narrowest definition of money is referred to as ______.6 Q3 _; \" h$ i/ N% k, p0 C
A. M o# c# f9 @. A% N2 y
B. M 1
/ \6 r4 O) N' d& t' v* Y8 ] C. M 2
* z1 {3 Y$ D" d D. M 3/ M: R- N+ [" j
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? .
" K7 E( g) _/ ]/ H. z2 y. L4 Q A. Daily intervention/ E. L6 \; T' N2 L/ y
B. Sterilization C. Discretionary monetary policy2 `) F) k) E+ ?+ |) F6 Y
D. Discretionary fiscal policy+ Q9 K3 p, O- Y! A
90. Under a fixed exchange rate system and freely flowing capital, ., M( k/ o# x0 Y# U `
A. fiscal policy is ineffective8 X# q/ l( L9 r
B. monetary policy is very effective
7 _* Y! S1 J8 ^8 o C. the supply of money is very important
1 y/ e, [7 W. q' @1 ? D. monetary policy is ineffective |