金融英语证书考试模拟试题

金融英语证书考试模拟 1. Which of the following is not a function of money? ______. A. To act as a medium of exchange B. To act as a unit of account C. To act as a store of value D. To provide a double coincidence of wants E. To act as a means of payment 2. The price in the foreign exchange market is called ______. A. the trade surplus B. the exchange rate C. the money price D. the currency rate 3. Market risk refers to the risk of______. A. financial prices fluctuations B. default C. fraud D. deferred payments 4. Which of the following is not among the generally accepted accounting principles? ______. A. Cash basis B. Prudence C. Consistency D. Going concern E. Money measurement. 5. What is a documentary letter of credit? ______. A. A conditional bank undertaking to pay an exporter on production of stipulated documentation B. A method of lending against documentary security C. An international trade settlement system biased in favour of importers D. All of the above 6. Holding a group of assets reduces risk as long as the assets ______. A. are perfectly correlated B. are completely independent C. do not have precisely the same pattern of returns D. have a correlation coefficient greater than one 7. An amount, payable in money goods, or service, owed by a business to a creditor, is known as a/an . A. liability B. debt C. equity D. asset 8. What function is money serving when you buy a ticket to a movie? ______. A. store of value B. a medium of exchange C. transaction demand D. a unit of account 9. If foreigners expect that the future price of sterling will be lower, the ______. A. supply of sterling will increase, demand for sterling will fall, and the exchange rate will fall B. supply of sterling will increase, demand for sterling will rise, and the exchange rate may or may not increase C. supply of sterling will fall, demand for sterling will increase, and the exchange rate will rise D. supply of sterling will fall, demand for sterling will fall, and the exchange rate may or may not fall 10. The documentary collection provides the seller with a greater degree of protection than shipping on ______. A. open account B. bank's letter of guarantee C. banker's draft D. documentary credit 11. Which of the following statements is not true of central banks? ______. A. They pay the government's salaries B. They always undertake the regulation of the banking system C. They are always the lender of last resort D. None of the above 12. When GBP/USD rate goes from 1.6150 to 1.8500, we say the dollar ______. A. appreciates by 12.70% B. depreciates by 14.55% C. depreciates by 12.70% D. appreciates by 14.55% 13. According to diversification principle in investment, suppose you invest Stock X and Stock Y with equal funds, which of the following is not true? ______. A. If X and Y are totally independent with each other, the risk of the portfolio is reduced B. If X and Y are perfectly negatively correlated, the risk of the portfolio is perfectly offset C. If X and Y are perfectly positively correlated, the risk of the portfolio is neither reduced nor increased D. If X and Y are perfectly negatively correlated, the risk of the portfolio is neither reduced nor increased 14. These are four main methods of securing payment in international trade: (1) payment under documentary credit (2) open account (3) collection, that is document against payment or acceptance of a bill of exchange (4) payment in advance From an exporter's point of view, the order of preference is ______. A. (4) , (2) , (3) , (1) B. (4) , (1) , (3) , (2) C. (4) , (3) , (1) , (2) D. (2) , (4) , (1) , (3) 15. The main liability on a bank balance sheet is ______. A. deposits B. capital and reserves C. loans and overdrafts D. cash 16. ______ shows that net income for a specified period of time and how it was calculated. A. The income statement B. The capital statement C. The accounting statement D. The statement of financial condition 17. Why must the liabilities and assets of a bank be actively managed? ______. A. Because assets and liabilities are not evenly matched on the same time scale B. Because assets and liabilities are evenly matched C. Because the interbank market uses LIBOR D. Because assets and liabilities can be underwritten 18. If the expected returns of two risky assets have a perfect negative correlation, then risk . A. is increased B. falls to zero C. is unaffected D. is reduced by one-half 19. A possible disadvantage of freely fluctuating exchange rates with no official intervention is that . A. some nations would experience continual deficits B. the exchange rates may experience wide and frequent fluctuations C. nations would no longer be able to undertake domestic policies designed to achieve and maintain full employment D. nations would need a larger supply of international reserves than otherwise 20. 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? A. Short ,2 058 478.10 long $3 370 000 at 1.6371 B. Long ,5 941 521.90 short $9710 000 at 1.6342 C. Short ,5 941 521.90 long $9 710 000 at 1.6342 D. Long ,4 058 478.10 short $6 630 000 at 1.6336 21. A correlation coefficient of +1.0 means two stocks are ______. A. perfectly negatively correlated B. opposite the market beta C. equal to the market beta D. perfectly positively correlated 22. The percentage analysis of increases and decreases in corresponding items in comparative financial statements is called ______. A. external analysis B. horizontal analysis C. vertical analysis D. comparative analysis 23. What is the name of the document which can make a buyer feel confident that goods are of a certain standard? ______. A. Inspection certificate B. Commercial invoice C. Insurance policy D. Certificate of origin 24. Sometimes financial intermediaries by "borrowing short and lending long" find themselves in difficult financial situations because . A. short-term rates are falling B. long-term rates are rising C. deposits increase too rapidly D. short-term rates rise relative to rates of their holdings E. long-term rates rise more sharply than short-term rates 25. Incoterms were written ______. A. by the International Chamber of Commerce B. under the United Nations Convention for the International Sale of Goods (Vienna Convention ) C. under the Kyoto Protocols as adopted in 2000 D. under "fast track" authority granted by the U.S. Congress 26. The purpose of keeping account is to . A. determine whether the business has made a profit or a loss B. find out why the business has lost money C. see how much has been spent D. find out why the business cannot fulfil its commitments 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. A. 5„„RMB200000 B. 4„„RMB120000 C. 3„„RMB80000 D. 6„„RMB20000 28. ABC Company is the beneficiary of a confirmed irrevocable letter of credit. ______ bank ( s ) will assure the company that it will be paid. A. One B. None C. Three D. Two 29. Legal tender includes . A. notes and coins B. notes only C. coins only D. notes, coins and checks 30. The following are the basic functions of a bill of lading except to act as ______. A. a receipt for the goods from the shipping company to the exporter B. a document of title for goods being shipped overseas C. a certificate of origin, which certifies that the goods were produced in a particular country D. evidence of the carriage contract between the exporter and the carrier 31. Persistent foreign trade deficits under a flexible exchange rate system usually lead to ______. A. inflation in the domestic economy B. speculation of future devaluation C. falling interest rates D. rising imports 32. The additional amount paid in buying or selling a currency at a given future date is called . A. premium B. commission C.tariff D. dividend 33. Banks manage their assets considering ______. A. risk B. some optimum combination of the above C. earnings D. liquidity 34. What is the function of the book-keeping system in bank accounting? ______. A. To prove that all the day's transactions have gone through for the right amount B. To prove that all the day's transactions have all been posted to the right account C. To prove that the fresh balance of those accounts is correct after recording the transactions D. All of the above 35. The risk that is specific to individual stocks is called ______. A. systematic risk B. country risk C. unsystematic risk D. market risk 36. The main objective of the Exchange Equalization Account is to ______. A. prevent undue fluctuation in the exchange value of one country's own currency against other currencies B. control the rate of inflation C. ensure that notes and coins continue to be acceptable as a medium of exchange D. permit the exchange of payments between banks 37. How can you prove that no transactions are missing or wrong at the end of the day? ______. A. There is no other way than have these transactions reposted to the proper entries B. We can examine all the transactions carefully and find the wrong records C. We can balance the total debits and the total credits by calculating them again D. We can do that by checking the total debits and the total credits to see whether they are in state of balance 38. Money _____. A. serves as the critical function of a medium of exchange B. facilitates trade in goods and services C. overcomes the inefficiencies of barter D. all of the above 39. If dealers buy currency forward but do not sell forward at the same time, their position is known as . A. short B. forerunner C. speculation D. long 1. Usually the low interest rate currency trades at a ______ to the high interest rate currency in the forward market. A. premium B. par C. discount D. bar 2. Which of the following statements about standby letters of credit is true? ______. A. They can serve as a guarantee to a buyer against a seller defaulting B. They are contrary to the general rule that letters of credit may only be used for the actual movement of goods C. They are unlike a tender (or other) bond in their legal standing and method of operation D. They are unlike a tender bond with its fixed expiry date 3. The most liquid of all assets is ______. A. the stock of commercial banks B. M 1 C. intelligence D. the debt of major corporations 4. Beta and standard deviation differ as risk measures in that beta measures ______. A. only unsystematic risk, while standard deviation measures total risk B. only systematic risk, while standard deviation measures total risk C. both systematic and unsystematic risk, while standard deviation measures only unsystematic risk D. both systematic and unsystematic risk, while standard deviation measures only systematic risk 5. What information would you find in a statement of cash flows that you would not be able to get from the other two primary financial statements? ______. A. Cash provided by or used in financing activities B. Cash balance at the end of the period C. Total liabilities due to creditors at the end of the period D. Net income 6. An analyst estimates that a stock has the following probabilities of return depending on the state of the economy: State of economy Probability Return Good 0.1 15% Normal 0.6 13% Poor 0.3 7% The expected return of the stock is ______. A. 7.8% C. 11.7% D. 13.0% B. 11.4% 7. According to the rules of debit and credit for balance sheet accounts ______. A. increases in asset, liability, and owner's equity accounts are recorded by debits B. decreases in asset and liability accounts are recorded by credits C. increases in asset and owner's equity accounts are recorded by debits D. decreases in liability and owner's equity accounts are recorded by debits 265 8. Individuals will accept the medium of exchange in return for goods and services only if they are confident that ______. A. the inflation rate is zero B. it possesses intrinsic value C. they can pass it on to others D. they can exchange it for gold 9. When a country's currency appreciates, the country's goods abroad become ______ and foreign goods in that country become ______. A. cheaper... more expensive B. more expensive... cheaper C. cheaper...cheaper D. more expensive... more expensive 10. A US company is bidding for a contract in China. Its Chinese customer asks for a performance bond. What is the most likely course of action? ______. A. It asks its bank to issue a tender bond which can be converted into a performance bond B. It gives up its bid C. It consults its bank about issuing a standby letter of credit D. It asks its bank to issue a performance bond *North China’s Tianjin Municipality(直辖市) has started a “Blue Sky Project” to control the air pollution. Under the project requirements, the air quality in Tianjin is expected to measure up to the national standard by 2007, when two thirds of days in the year will enjoy fairly good or excellent air quality. In order to achieve the goal, Tianjin will take a series of measures such as controlling the use of coal, reducing the dust floating from construction sites, planting trees along the major streets, and replacing petrol with liquid natural gas as the fuel for vehicles. Since people paid little attention to the environmental protection, the air quality in Tianjin has worsened during the past decade. The project has received wide praise and support from the natives. *The newly-discovered “Great Wall” in south China’s Hunan ProvincNE-HEe will open to visitors in the near future. “We will try to make it an internationally famous attraction for tourists, ” said Yuan Xinhua, director of the Hunan Provincial Tourism Administration(管理局). The main part of the 190-km “Southern China Great Wall” is located in Fenghuang County in western Hunan. Built during the Ming Dynasty(1368—1644)by the local Miao minority people, the Southern China Great Wall is 2.3 m high and 1.7 m wide. *The Chinese have been enjoying themselves by sightseeing or traveling during the Spring Festival this year rather than engaging in the traditional gathering of relatives and friends at home. In the past five days, over 200 000 Beijingers spent the one-week Spring Festival holiday shopping in Tianjin. Low prices of consumer(消费) goods and the convenient railway service enable Beijingers to visit the neighboring city during the day. Meanwhile unlike previous years, an increasing number of Tianjiners went to Beijing during the Spring Festival to visit places of interest in the capital. Tourism had been heating up in the last few years. An increase in income and longer holidays have made it possible for Chinese to relax after a year of work. 1. If “Blue Sky Project” is completed ________. A. there will be no air pollution in Tianjin B. the natives can enjoy good air quality most of the year C. liquid natural gas will have taken the place of coal and petro D. people will pay less attention to environmental protection 2. According to Mr. Yuan from Hunan, the opening of the Southern China Great Wall is a good way to ________. A. rebuild the wall B. help local Miao minority people C. discover the history D. arouse foreigners’ interest 3. The Chinese would like to go sightseeing or travel during the Spring Festival this year mainly because ________. A. prices are higher in their native places B. railway service is getting better and better C. they are tired of meeting relatives and friends at home D. they have longer holidays and more money 【答案与解析】本文介绍了国家的三个不同方面的建划项目。 1. B。推理判断题。根据„when two thirds of days in the year will enjoy fairly good or excellent air quality可知答案为B。 2. D。推理判断题。根据We will try to make it an internationally famous attraction for tourists(将尽力吸引国际游客)可知答案为D。 3. D。事实细节题。根据An increase in income and longer holidays have made it possible for Chinese to relax after a year of work可知答案为D。