金融英语证书考试（FECT）Exercises-2（3）

会计考友

　　41.The danger to the exporter in open account trading is that by surrending the shipping documents to the importer， he ______ control of the goods before he has obtained payment for them。   
　　A.is in
5 N3 i3 B# J# e( D6 z　　B.loses
　　C.retains
　　D.gives up
( f/ p4 U' ~' a　　42.The primary purpose of showing special types of events separately in the income statement is to　。
1 D4 D) b9 j2 g2 E2 G　　A.increase earnings per share
- J6 V. c5 O3 {　　B.minimize the income taxes paid on the results of ongoing operations
　　C.prevent unusual losses from recurring
( A1 M( v: I, U) U6 |7 }1 G　　D.assist users of the income statement in evaluating the profitability of normal， ongoing operations
* w8 W8 G  a$ ^: B* _- C  C　　43.If commercial banks have ample excess reserves， a lower discount rate will _______。
　　A.encourage them to borrow more
6 f$ v7 L2 c# p: E7 |+ S　　B.encourage them to raise interest rates on loans
/ _" Y) s: f& b4 R1 K0 n! W　　C.have little impact on bank behavior
　　D.increase bank reserves
( G- s, n1 D% {2 d- k　　44.A bill of lading is a receipt for goods.When is a bill of lading issued？ ______。
- A6 n6 M4 |9 X6 P. o　　A.When the shipper makes up the order
& K0 D( `& r6 P2 ^2 Z3 q) x# R　　B.When the carrier receives the goods
　　C.When the carrier delivers the goods to the consignee
. Q; Q/ y9 M3 M  _, y# I$ g0 n　　D.When the manufacturer produces the goods
& i; @. K! F  ?* }" X# Z　　45.ABC Co.Ltd.sold marketable securities costing $80 000 for $92 000 cash.In the company's income statement and statement of cash flows， respectively， this will appear as ______。
( t1 [5 y% ^; r1 J  a　　A.a $12 000 gain and a $92 000 cash receipt
/ H: j# m- m; X4 h. `  c* `- z　　B.a $92 000 gain and a $80 000 cash receipt
% P: b+ n3 Q5 Z' h# ]1 M　　C.a $12 000 gain and a $80 000 cash receipt
　　D.a $92 000 sale and a $92 000 cash receipt
　　46.Which of the following central bank actions would be appropriate to combat rapid inflation？　　。
% x5 {2 r5 A' A9 q4 C2 ~) @6 Q& K4 w　　A.A reduction in the discount rate
　　B.A reduction in reserve requirements
　　C.A cut in taxes
& B. o" S2 A6 v1 M8 U5 }　　D.A sale of government securities
　　47.In a currency pair， the first currency is referred to as ______ and the second as ______。
6 `2 |- a$ P, w$ H# l9 B5 T) K　　A.the base currency…the counter currency
　　B.the quote currency…the base currency
: u$ Q4 N" _* {1 v　　C.the base currency…the exchange currency
5 L( ]3 X- r* k; J$ o: a- S& E) y　　D.the trade currency…the base currency
$ f$ S0 L, |9 K  u* q　　48.What is the expected return of a zero-beta security？ ______。
3 c; c! c, a% ^( v　　A.Market rate of return
& g! Q1 {3 y/ Y) G　　B.Zero-rate of return
6 @, ^% L# q0 ?- x　　C.Risk-free rate of return
5 D: m) B- M+ n! G. U- [# O  ]　　D.Negative rate of return
　　49.Capital asset pricing theory asserts that portfolio returns are best explained by ______。
　　A.economic factors
1 a8 I" i3 `9 J$ u　　B.systematic risk
　　C.specific risk
& {7 R5 ~6 N  b# D7 H" N　　D.diversification
! g$ G' g" l: v3 |　　50.The______ informs the beneficiary that another bank has issued a credit in his favor without adding its own engagement。
' ?5 q* K( F' n+ Y: [+ @4 A　　A.advising bank
1 t  y, o9 A) U' |5 X+ b　　B.confirming bank
0 C2 X# Q( G: J; H" N3 t) }　　C.drawee bank