金融英语试题：FECT-1(1)单选题

金融英语试题：FECT-1(1)单选题

1. Which of the following is not a function of money? ______. #

A. To act as a medium of exchange

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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

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3. Market risk refers to the risk of______. #

A. financial prices fluctuations

B. default #

C. fraud

D. deferred payments

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4. Which of the following is not among the generally accepted accounting principles? ______.

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A. Cash basis #

B. Prudence

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C. Consistency

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D. Going concern

E. Money measurement.

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5. What is a documentary letter of credit? ______.

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A. A conditional bank undertaking to pay an exporter on production of stipulated documentation

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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

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B. are completely independent

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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? ______.

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A. store of value

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B. a medium of exchange #

C. transaction demand

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D. a unit of account #

9. If foreigners expect that the future price of sterling will be lower, the ______.

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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

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B. bank's letter of guarantee

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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%

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B. depreciates by 14.55%

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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

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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

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(4) payment in advance #

From an exporter's point of view, the order of preference is ______.

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A. (4) , (2) , (3) , (1)

B. (4) , (1) , (3) , (2)

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C. (4) , (3) , (1) , (2)

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D. (2) , (4) , (1) , (3) #

15. The main liability on a bank balance sheet is ______.

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A. deposits #

B. capital and reserves #

C. loans and overdrafts

D. cash

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16. ______ shows that net income for a specified period of time and how it was calculated.

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A. The income statement

B. The capital statement

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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

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D. Because assets and liabilities can be underwritten #

18. If the expected returns of two risky assets have a perfect negative correlation, then risk .

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A. is increased

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B. falls to zero #

C. is unaffected #

D. is reduced by one-half

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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

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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 #

答案： #

1.D 2.B 3.A 4.A 5.A 6.C 7.A 8.B 9.A 10.A #

11.B 12.B 13.D 14.B 15.A 16.A 17.A 18.B 19.B 20.D第一考试网整理 #