《金融英语证书考试7253》由会员分享，可在线阅读，更多相关《金融英语证书考试7253（35页珍藏版）》请在金锄头文库上搜索。
1、金 融 英 语 证 书 考 试 （ F E C T ） E x e r c i s e s - 1 （ 1 ） of the following is not a function of money？ _。? act as a medium of exchange act as a unit of account act as a store of value provide a double coincidence of wants act as a means of payment price in the foreign exchange market is called _。 trad
2、e surplus exchange rate money price currency rate risk refers to the risk of_。 prices fluctuations payments of the following is not among the generally accepted accounting principles？ _。 basis concern measurement。 is a documentary letter of credit？ _。 conditional bank undertaking to pay an exporter
3、on production of stipulated documentation method of lending against documentary security international trade settlement system biased in favour of importers of the above a group of assets reduces risk as long as the assets _ 。 perfectly correlated completely independent not have precisely the same p
4、attern of returns a correlation coefficient greater than one amount， payable in money goods， or service， owed by a business to a creditor， is known as a/an 。 function is money serving when you buy a ticket to a movie？ _。 of value medium of exchange demand unit of account foreigners expect that the f
5、uture price of sterling will be lower， the _。 of sterling will increase， demand for sterling will fall， and the exchange rate will fall of sterling will increase， demand for sterling will rise， and the exchange rate may or may not increase of sterling will fall， demand for sterling will increase， an
6、d the exchange rate will rise of sterling will fall， demand for sterling will fall， and the exchange rate may or may not fall documentary collection provides the seller with a greater degree of protection than shipping on _。 account s letter of guarantee s draft credit of the following statements is
7、 not true of central banks？ _。 pay the governments salaries always undertake the regulation of the banking system are always the lender of last resort of the above GBP/USD rate goes from to ， we say the dollar _。 by % by % by % by % to diversification principle in investment， suppose you invest Stoc
8、k X and Stock Y with equal funds ， which of the following is not true ？ _。 X and Y are totally independent with each other， the risk of the portfolio is reduced X and Y are perfectly negatively correlated， the risk of the portfolio is perfectly offset X and Y are perfectly positively correlated， the
9、 risk of the portfolio is neither reduced nor increased X and Y are perfectly negatively correlated， the risk of the portfolio is neither reduced nor increased are four main methods of securing payment in international trade ： （1） payment under documentary credit （2） open account （3） collection， tha
10、t is document against payment or acceptance of a bill of exchange （4） payment in advance From 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） main liability on a bank balance sheet is _。 and res
11、erves and overdrafts shows that net income for a specified period of time and how it was calculated。 income statement capital statement accounting statement statement of financial condition must the liabilities and assets of a bank be actively managed？ _。 assets and liabilities are not evenly matche
12、d on the same time scale assets and liabilities are evenly matched the interbank market uses LIBOR assets and liabilities can be underwritten the expected returns of two risky assets have a perfect negative correlation， then risk 。 increased to zero unaffected reduced by one-half possible disadvanta
13、ge of freely fluctuating exchange rates with no official intervention is that 。 nations would experience continual deficits exchange rates may experience wide and frequent fluctuations would no longer be able to undertake domestic policies designed to achieve and maintain full employment would need
14、a larger supply of international reserves than otherwise are your GBP/USD position and the average rate if you sell 4m at buy 5m at and sell $5m at ？ 2 058 long $3 370 000 at 5 941 short $9710 000 at 5 941 long $9 710 000 at 4 058 short $6 630 000 at correlation coefficient of + means two stocks are
15、 _ 。 negatively correlated the market beta to the market beta positively correlated percentage analysis of increases and decreases in corresponding items in comparative financial statements is called _ 。 analysis analysis analysis analysis is the name of the document which can make a buyer feel conf
16、ident that goods are of a certain standard ？ _。 certificate invoice policy of origin financial intermediaries by borrowing short and lending long find themselves in difficult financial situations because 。 rates are falling rates are rising increase too rapidly rates rise relative to rates of their
17、holdings rates rise more sharply than short-term rates were written _。 the International Chamber of Commerce the United Nations Convention for the International Sale of Goods （Vienna Convention ） the Kyoto Protocols as adopted in 2000 purpose of keeping account is to 。 whether the business has made
18、a profit or a loss out why the business has lost money how much has been spent out why the business cannot fulfil its commitments 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 。 RMB200000 RMB120000 RMB8000
19、0 RMB20000 Company is the beneficiary of a confirmed irrevocable letter of bank （ s ） will assure the company that it will be paid。 tender includes 。 and coins only only ， coins and checks following are the basic functions of a bill of lading except to act as _。 receipt for the goods from the shippi
20、ng company to the exporter document of title for goods being shipped overseas certificate of origin， which certifies that the goods were produced in a particular country of the carriage contract between the exporter and the carrier foreign trade deficits under a flexible exchange rate system usually
21、 lead to _。 in the domestic economy of future devaluation interest rates imports additional amount paid in buying or selling a currency at a given future date is called 。 manage their assets considering _。 optimum combination of the above is the function of the book-keeping system in bank accounting
22、 ？ _。 prove that all the days transactions have gone through for the right amount prove that all the days transactions have all been posted to the right account prove that the fresh balance of those accounts is correct after recording the transactions of the above risk that is specific to individual
23、 stocks is called _。 risk risk risk risk main objective of the Exchange Equalization Account is to _。 undue fluctuation in the exchange value of one countrys own currency against other currencies the rate of inflation that notes and coins continue to be acceptable as a medium of exchange the exchang
24、e of payments between banks can you prove that no transactions are missing or wrong at the end of the day？ _。 is no other way than have these transactions reposted to the proper entries can examine all the transactions carefully and find the wrong records can balance the total debits and the total c
25、redits by calculating them again can do that by checking the total debits and the total credits to see whether they are in state of balance _。 as the critical function of a medium of exchange trade in goods and services the inefficiencies of barter of the above dealers buy currency forward but do no
26、t sell forward at the same time， their position is known as 。 ? if clearly incorporated into the contract of sale International shipments beyond a certain tonnage international shipments under the Uniform Commercial Code all international shipments of goods which one of the following circumstances w
27、ould it be wise for your customer to arrange a forward foreign exchange contract ？ _。 of goods priced in a foreign currency of goods priced in RMB of goods priced in RMB of goods priced in a foreign currency where the rate of exchange has been agreed in the sales contract address _。 risks of loss be
28、tween the parties of contract rights of ship used of the following is or was an example of representative full-bodied money？ _。 money account certificate deposit associated with investing in foreign countries are the following except _。 risk rate risk risk risk exporter sells goods to a customer abr
29、oad on FOB and on CIF is responsible for the freight charges in each ？ _。 ； Exporter ； Importer ； Importer ； Exporter risk refers to the possibility that a borrower may _ 。 unable to repay the principal on his loan unable to make the interest payments on his loan bankrupt of the above is the reserve
30、 requirement？ _。 requirement of a bank to deposit a percentage of money requirement for deposits in cash percentage of a banks deposits in the form of cash reserves requirement for cash reserves draft is like a check that can be endorsed but it isnt a title to goods， like _。 bill of lading inspectio
31、n certificate certificate of origin insurance certificate _。 a general economic term for buying something where it is cheap and selling it where it is dear exchange rates consistent across markets been outlawed by the International Monetary Fund occur where there is a forward exchange market A and B
32、 is the purpose of comparing the ledger entries with the documents？ _。 prove that all the transactions have made for the right amounts prove that all the accounts have been posted correctly check the number of all the debits and credits post the right is Dollar Cost Averaging ？ _。 brokerage account
33、that gives investors cheap trades idea that prices tend to rise over the long term stocks that are below average in value flat quarterly mutual fund fee averaged throughout the year strategy of investing money on a regular basis to take advantage of market fluctuations a Chinese banks point of view，
34、 the currency account which it maintains abroad is known as_， while a RMB account operated in China for a foreign bank is termed _。 vostro account a nostro account vostro accounta mirror account mirror accounta nostro account nostro account a vostro account FOB terms the bill of lading would state g
35、oods _。 on board， freight payable at destination on board， freight paid for shipment， freight paid for shipment， freight payable at destination liabilities of the bank as shown in its balance sheet represent the _ which it uses in its business。 of the funds capital to customers payments and other me
36、ssages are often sent through an international computer network called _。 levels of uncertainty （risk） are associated with 。 options potential returns potential returns securities would appear on a commercial banks balance sheet as _。 asset of net worth liability major problem with a fixed exchange
37、rate system is that when countries run foreign trade deficits， _。 is no self-correcting mechanism values become unstable value of the reserve currency declines inflation increases a particular economy banks are required to keep 25 percent of all deposits in the form of reserves； this gives a credit-
38、creation multiplier of _。 of the money supply and financial markets is referred to as _ 。 policy policy policy policy a country runs a foreign trade deficit under a flexible foreign exchange rate system， its 。 automatically increase automatically depreciates automatically decline automatically appre
39、ciates of the following statements is not true of accounting？ _。 is language of business user of accounting includes business， government， nonprofit organizations and individuals。 is useful for decision making is an end rather than a means to an end term foreign exchange is best defined by the follo
40、wing statement：it is _。 rate of exchange between two currencies with currency exchange place in which foreign currencies are exchanged instrument such as paper currency， note， and check used to make payments between countries is Asset Allocation？ _。 assets of different types， risks， and potential re
41、turns assets with more than one brokerage account ability to buy mutual funds stocks for the long term users of financial accounting information include all of the following except 。 managers public is short for 。 Asset Pricing Model Added Price Matrix Asset Pricing Matrix and Price Model measures t
42、he _。 of an asset with which an asset can be exchanged of an asset and monetary reliability of an asset compared with other assets a letter of credit transaction， the bank pays the seller against _ which agree（s） with_。 the credit the contract the contract the buyer barter economy is one that does n
43、ot possess _。? wealth currency medium of exchange of the following is not true of airway bill？ _。 goods are delivered to the airline， the airway bill is signed by them or their agents as a receipt of the goods bill is a document of title to the goods bill may also provide evidence of despatch of the
44、 goods where it has been stamped indicating details of the relevant flight of the above value of money varies _。 with the unemployment rate with the price level with the unemployment with the price level economics news on the television reports that the dollar has strengthened relative to the Japane
45、se means that _。 dollar has depreciated relative to the yen dollar can now purchase more yen yen can now purchase more dollars US trade balance with the Japanese economy has improved theory of international exchange that holds that exchange rates are set so that the price of similar goods in differe
46、nt countries is the same is the _。 feedback theory feedback theory power parity theory theory to the optimal portfolio theory， where should portfolios lie？ _。 the efficient frontier the efficient frontier the efficient frontier ， as long as the portfolio is diversified of the following is not a user
47、 of management accounting information？ _。 manager on the scenarios below， what is the expected return for a portfolio with the following return profile？ _。 Market Condition % % % % Use the following expectations on Stocks X and Y to answer questions 17 through 19 （round to the nearest percent） 。 mar
48、kets serve to channel funds from _。 government to contractors to consumers to producers to investors agreements that were reached at the Bretton Woods conference in 1944 established a system 。 essentially fixed exchange rates under which each country agreed to intervene in the foreign exchange marke
49、t when necessary to maintain the agreed-upon value of its currency floating exchange rates determined by the supply and demand of one nations currency relative to the currency of other nations prohibited governments from intervening in the foreign exchange markets which the values of currencies were
50、 fixed in terms of a specific number of ounces of gold， which in turn determined their values in international trading of the following statements is not consistent with generally accepted accounting principles relating to asset valuation？ 。 are originally recorded in accounting records at their cos
51、t to the business entity prefer to base the valuation of assets upon objective， verifiable evidence rather than upon appraisals or personal opinion assume that assets such as office supplies， land and buildings will be used in business operations rather than sold at current market prices total liabi
52、lities from total assets indicates what the owners equity in the business is worth under current market conditions fiscal expansion in the UK _ the pound sterling 。 to appreciate to depreciate not affect the price of no predictable effect on the price of are the expected returns for Stocks X and Y r
53、espectively ？ _。 % and 10% % and 12% % and 11% % and 5% of the following payment terms eliminates the exchange risk， assuming the exporter invoices in foreign currency？ _。? irrevocable documentary credit account collection D/A of the above the viewpoint of a short-term creditor， this transaction mak
54、es the business less solvent liabilities increased by $7 000 assets increased by $12 000 transaction had no immediate effect on the owners equity in the business of the following terms of payment will entirely eliminate country risk？ _。 documentary credits Irrevocable documentary credits collection
55、D/P collection D/A expiry date of a documentary credit is Sunday， 24 February， and documents have to be A presented to of the following is an acceptable presentation？ （Assume there is no latest stated date for shipment stipulated. ） _。 to you on Monday 25 February with the bill of lading dated 25 Fe
56、bruary on Monday 25 February with the bill of lading dated Sunday 24 February on Tuesday 26 February with the bill of lading dated Sunday 24 February on Friday 22 February with the bill of lading dated Sunday 29 January are the standard deviations of returns on Stocks X and Y respectively？ _。 % and
57、26% % and 13% % and 4% % and 8% makes the first presentation of documents under a transferable credit？ _。 beneficiary beneficiary of the above transaction caused a $10 000 decrease in both total assets and total transaction could have been _ 。 of a $ 10 000 bank loan asset with a cost of $10000 was
58、destroyed by fire of a delivery truck for $10 000 cash of a $10 000 account receivable ceases to serve as an effective store of value when _ 。 government runs large deficits unemployment rate is very high in the economy declines inflation occurs indication that the money supply is greater than the d
59、esirable amount would be 。 spending and excessive saving spending and rising unemployment wages and prices 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。 floating floating fixe
60、d fixed of the following is true of a companys balance sheet ？ _。 displays sources and uses of cash for the period is unnecessary if both an income statement and a statement of cash flows are available is a separate representation of the companys revenue and expense transactions for the year is an e
61、xpansion of the basic accounting equation of Assets=Liabilities+Owners Equity 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 。 higher highe
62、r lower lower is the _。 of GNP at which checking accounts are converted into cash between the price level and the money supply at which money turns over that of your $10 000 portfolio， you invest $9 000 in Stock X and $1 000 in Stock is the expected return on your portfolio ？ _。 % % % % of the follo
63、wing would you expect to find in a correctly prepared income statement？ 。 balance at the end of the period incurred during the period to earn revenues by the owner during the period reported companys financial position at a specific date concept of beta is most closely associated with _。 coefficient
64、 capital asset pricing model risk analysis velocity of money for a given year can be calculated by _。 GNP by the money supply aggregate supply by aggregate demand the price level by the money supply the price level by total output theory of purchasing power parity states that exchange rates between
65、any two currencies will adjust to reflect changes in _。 price levels of the two countries current account balances of the two countries fiscal policies of the two countries trade balances of the two countries issuing a credit， it is important for the issuing bank _。 make certain of the importers creditworthiness go through the contract terms have a thorough understanding of the exporter of the above
