金融英语：FECT-1(2) 单选题

会计考友

　　II. True or False Questions
　　26. As a general rule, the shorter the maturity of an asset and the more readily it can be sold, the more liquid is the asset.
/ w" p4 g9 o4 _- Z1 h　　A.True B.False
　　27. Investors in the capital markets are not subject to any tax on their investments.
　　A.True B.False
8 |# Z% |$ I! _2 l2 k" p　　28. CMO is a security backed by a pool of pass-through rates, structured so that there are several classes of bondholders with varying maturities, called tranches.
3 e7 L7 I' X) m' b- u5 g- T. X　　A.True B.False
* z& `' S9 U* w3 C& g　　29. The purpose of the letter of credit is to facilitate trade, typically international trade by substituting the known credit worthiness of a bank for the buyer, which may be unknown or unacceptable to the seller.
! B) Q$ T: ?/ N' X　　A.True B.False
　　30. According to the Phillips Curve, the economy cannot be at full employment and stable prices at the same time.
　　A.True B.False
: B* U. N! ?% a1 M+ Y9 j* ]/ A　　31. When total reserves are equal to required reserves, the banking system cannot extend loans anymore.
8 X% P% c& j3 a& P: _　　A.True B.False
7 x. ~& ^" J9 N9 {　　32. A bill of lading that covers the shipment of goods on two separate vessels is known as thorough bill of lading.
3 Y7 \" q4 R( J5 ^7 c4 G' y# E　　A.True B.False
　　33. Usually the more liquid asset is less risky.
; X2 t  C( U% V/ |　　A.True B.False
　　34. Where the bill of exchange is not accompanied by documents, these having been sent to the importer, the transaction is known as a clean collection.
　　A.True B.False
　　35. The velocity of money is the speed with which it can be converted into a liquid asset.
　　A.True B.False
　　36. Primitive securities yield returns that depend on additional factors pertaining to the prices of other assets, while a derivative security offers returns based only on the status of the issuer.
' T  r, _, ?6 Y7 F　　A.True B.False
　　37. A car loan offered by a bank is a derivative security.
　　A.True B.False
　　38. Options give buyers the obligation to buy or sell an asset at a present price over a specific period.
3 i2 p7 l8 G( z7 {5 o3 E　　A.True B.False
　　39. Futures contracts usually end in the delivery of the underlying commodity.
　　A.True B.False
) T2 p! L# Q. r9 L( b& I1 U　　40. The forward exchange rate is the current spot rate adjusted for the interest rate differentials.
0 e- j+ u3 C. }# |! D　　A.True B.False
　　41. Dirty price is the bond price excluding accrued interest, i.e., the price paid by the bond buyer.
- X0 M& `. O: J, d　　A.True B.False
　　42. Every transaction must produce a debit and credit entry of the same financial amount.
　　A.True B.False
　　43. There are three parties to a life policy in addition to the issuing company: the insurer, the life assured and the beneficiary.
　　A.True B.False
8 I9 a: E) z- p9 ^' v　　44. A guarantee is an agreement that may be evidenced in writing or in oral form.
　　A.True B.False
& D6 N* C) U; c  o( e7 }" v　　45. An insurable interest is assumed where people take life assurance on their own lives or where the relationship is that of husband and wife.
9 T$ Q( _5 T% z: W8 C, j" g% ]% b% M　　A.True B.False
　　46. Profit does not equal cash and some profitable businesses have failed for want of cash.
" Y; s- _' w) [& f1 }　　A.True B.False
　　47. Bills are negotiated with recourse to customers in the event of nonpayment.
* h' F2 [( L; Z! b　　A.True B.False
8 T$ C/ i7 Y( H& `　　48. A firm's gearing is the level of fixed assets as a percentage of total assets.
" o3 d4 Y% J& o4 m) J! U　　A.True B.False
　　49. A bank must obtain a judgment if it wishes to pursue its legal remedies against a debtor.
9 r( ~5 b/ C1 J7 J　　A.True B.False
　　50. When a country borrows from abroad, its balance of international payments shows an outflow of foreign exchange.
; T" j* A; K6 C! q8 \0 `　　A.True B.False