1、金融英语FECT单项选择题汇总练习doc1. 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 accountC. To act as a store of valueD. 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 _
2、.A. the trade surplusB. the exchange rate C. the money price D. the currency rate 3. Market risk refers to the risk of_.A. financial prices fluctuations B. defaultC. fraudD. deferred payments 4. Which of the following is not among the generally accepted accounting principles? _.A. Cash basis B. Prud
3、enceC. 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 securityC. An international trade settlement system biased i
4、n favor of importersD. All of the above 6. Holding a group of assets reduces risk as long as the assets _.A. are perfectly correlated B. are completely independentC. do not have precisely the same pattern of returns D. have a correlation coefficient greater than one 7. An amount, payable in money go
5、ods, or service, owed by a business to a creditor, is known as a/an .A. liability B. debtC. equityD. asset8. 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
6、 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 increaseC. supply of sterling will fall, demand for ste
7、rling will increase, and the exchange rate will riseD. 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. banks letter of g
8、uaranteeC. bankers draft D. documentary credit 11. Which of the following statements is not true of central banks? _.A. They pay the governments salaries B. They always undertake the regulation of the banking system C. They are always the lender of last resortD. None of the above 12. When GBP/USD ra
9、te 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?
10、 _.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 offsetC. If X and Y are perfectly positively correlated, the risk of the portfolio is neither reduced nor increased
11、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 o
12、f a bill of exchange(4) Payment in advanceFrom an exporters 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 reservesC. loans
13、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 statementC. The accounting statementD. The statement of financial condition 17. Why must the liabilities and assets of a bank be actively managed? _.A. B
14、ecause assets and liabilities are not evenly matched on the same time scale B. Because assets and liabilities are evenly matchedC. Because the inter bank market uses LIBORD. Because assets and liabilities can be underwritten 18. If the expected returns of two risky assets have a perfect negative cor
15、relation, 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 f
16、requent fluctuations C. nations would no longer be able to undertake domestic policies designed to achieve and maintain full employmentD. 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 5
17、m 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 1.6342C. Short 5 941 521.90 long $9 710 000 at 1.6342D. Long 4 058 478.10 short $6 630 000 at 1.6336 答案： 1.D 2.B 3.A 4.A 5.A 6.C 7.A 8.B 9.A 10.A11.B 12.B 13.D 14.B 15.A 16.A 1
18、7.A 18.B 19.B 20.D Bear Market Normal Market Bull MarketProbability 0.2 0.5 0.3Stock X_ -20% 18% 50%Stock Y -15% 20% 10%1. What are the expected returns for Stocks X and Y respectively? _.A. 20% and 10% B. 18% and 12%C. 20% and 11% D. 18% and 5%2. Which of the following payment terms eliminates the
19、exchange risk, assuming the exporter invoices in foreign currency? _.A. Confirmed irrevocable documentary creditB. Open accountC. Documentary collection D/AD. None of the above3. ABC Co. Ltd. purchased a car for $ 12 000, making a down payment of $5 000 cash and signing a $7 000 note payable due in
20、60 days. Which of the following is not correct? _.A. From the viewpoint of a short-term creditor, this transaction makes the business less solventB. Total liabilities increased by $7 000C. Total assets increased by $12 000D. This transaction had no immediate effect on the owners equity in the busine
21、ss4. Which of the following terms of payment will entirely eliminate country risk? _.A. Revocable documentary creditsB. Confirmed Irrevocable documentary credits C. Documentary collection D/PD. Documentary collection D/A5. The expiry date of a documentary credit is Sunday, 24 February, and documents
22、 have to be a presented to you. Which of the following is an acceptable presentation? (Assume there is no latest stated date for shipment stipulated.) _.A. Presentation to you on Monday 25 February with the bill of lading dated 25 FebruaryB. Presentation on Monday 25 February with the bill of lading
23、 dated Sunday 24 FebruaryC. Presentation on Tuesday 26 February with the bill of lading dated Sunday 24 FebruaryD. Presentation on Friday 22 February with the bill of lading dated Sunday 29 January6. What are the standard deviations of returns on Stocks X and Y respectively? _.A. 15% and 26% B. 24%
24、and 13%C. 20% and 4% D. 28% and 8%7. Who makes the first presentation of documents under a transferable credit? _.A. Applicant B. First beneficiaryC. Second beneficiary D. None of the above8. A transaction caused a $10 000 decrease in both total assets and total liabilities. This transaction could h
25、ave been _.A. repayment of a $ 10 000 bank loan B. an asset with a cost of $10000 was destroyed by fireC. purchase of a delivery truck for $10 000 cashD. collection of a $10 000 account receivable9. Money ceases to serve as an effective store of value when _.A. the government runs large deficits B.
26、the unemployment rate is very highC. productivity in the economy declinesD. rapid inflation occurs10. An indication that the money supply is greater than the desirable amount would be .A. insufficient spending and excessive savingB. deflationC. inadequate spending and rising unemploymentD. rising wa
27、ges and prices11. If a nations interest rates are relatively low compared to those of other countries, then the exchange value of its currency will tend to _ under a system of exchange rates.A. appreciate. floating B. depreciate.floating C. appreciate. fixed D. depreciate. fixed12. Which of the foll
28、owing is true of a companys balance sheet? _.A. It displays sources and uses of cash for the periodB. It is unnecessary if both an income statement and a statement of cash flows are availableC. It is a separate representation of the companys revenue and expense transactions for the yearD. It is an e
29、xpansion of the basic accounting equation of Assets=Liabilities Owners Equity13. When Americans or foreigners expect the return on dollar deposits to be high relative to the return on foreign deposits, there is a _ demand for dollar deposits and a correspondingly _ demand for foreign deposits.A. hig
30、her. higher B. lower. higherC. higher. lower D. lower.lower14. Velocity is the _.A. inverse of GNPB. speed at which checking accounts are converted into cashC. relationship between the price level and the money supplyD. rate at which money turns over15. Assume that of your $10 000 portfolio, you inv
31、est $9 000 in Stock X and $1 000 in Stock Y. What is the expected return on your portfolio? _.A. 18% B. 20%C. 19% D. 3%16. Which of the following would you expect to find in a correctly prepared income statement? .A. Cash balance at the end of the periodB. Expenses incurred during the period to earn revenues C. Contributions by the owner during the periodD. The reported companys financial position at a specific
