1、精品 料推薦1. Which of the following is not a function of money? _. A. To act as a medium of exchangeB. To act as a unit of account C. To act as a store of valueD. To provide a double coincidence of wants E. To act as a means of payment2. The price in the foreign exchange market is called _. A. the trade

2、 surplusB. the exchange rate C. the money price D. the currency rate3. Market risk refers to the risk of_.A. financial prices fluctuationsB. defaultC. fraudD. deferred payments4. Which of the following is not among the generally accepted accounting principles?_.A. Cash basis B. Prudence C. Consisten

3、cy D. Going concernE. Money measurement.5. What is a documentary letter of credit? _.A. A conditional bank undertaking to pay an exporter on production of stipulated documentationB. A method of lending against documentary securityC. An international trade settlement system biased in favor of importe

4、rsD. All of the above6. Holding a group of assets reduces risk as long as the assets _. A. are perfectly correlatedB. are completely independentC. do not have precisely the same pattern of returns D. have a correlation coefficient greater than one7. An amount, payable in money goods, or service, owe

5、d by a business to a creditor, is known as a/an .A. liability B. debt1精品 料推薦C. equityD. asset8. What function is money serving when you buy a ticket to a movie? _. A. store of valueB. a medium of exchangeC. transaction demandD. a unit of account9. If foreigners expect that the future price of sterli

6、ng will be lower, the _.A. supply of sterling will increase, demand for sterling will fall, and the exchange rate will fallB. 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 sterling will increa

7、se, and the exchange rate will riseD. supply of sterling will fall, demand for sterling will fall, and the exchange rate may or may not fall10. The documentary collection provides the seller with a greater degree of protection than shipping on _.A. open accountB. banks letter of guarantee C. bankers

8、 draftD. documentary credit11. Which of the following statements is not true of central banks? _.A. They pay the governments salariesB. They always undertake the regulation of the banking systemC. They are always the lender of last resortD. None of the above12. When GBP/USD rate goes from 1.6150 to

9、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 to

10、tally independent with each other, the risk of the portfolio is reducedB. If X and Y are perfectly negatively correlated, the risk of the portfolio is perfectly2精品 料推薦offsetC. If X and Y are perfectly positively correlated, the risk of the portfolio is neither reduced nor increasedD. If X and Y are

11、perfectly negatively correlated, the risk of the portfolio is neither reduced nor increased14. 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 exchang

12、e(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. depositsB. capital and reservesC. loans and overdraftsD. cash

13、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 condition17. Why must the liabilities and assets of a bank be actively managed? _.A. Because assets and liabil

14、ities 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 underwritten18. If the expected returns of two risky assets have a perfect negative correlation, then risk .A. i

15、s increased B. falls to zero C. is unaffectedD. is reduced by one-half19. A possible disadvantage of freely fluctuating exchange rates with no official3精品 料推薦intervention is that .A. some nations would experience continual deficitsB. the exchange rates may experience wide and frequent fluctuationsC.

16、 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 otherwise20. 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

17、 at 1.6348?A. Short2 058 478.10 long $3 370 000 at 1.6371B. Long5941 521.90 short $9710 000 at 1.6342C. Short5 941 521.90 long $9 710 000 at 1.6342D. Long4058 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 17.A 18.B 19.B 20.DBear MarketNorma

18、l MarketBull MarketProbability0.20.50.3Stock 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 exchange risk, assuming the exporter invoices i

19、n 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 60 days. Which of the following is not correct?

20、 _.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 business4. Which of the following terms of payment wi

21、ll entirely eliminate country risk?_.A. Revocable documentary creditsB. Confirmed Irrevocable documentary credits C. Documentary collection D/P4精品 料推薦D. Documentary collection D/A5. The expiry date of a documentary credit is Sunday, 24 February, and documents have to be a presented to you. Which of

22、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 dated Sunday 24 FebruaryC. Presentation

23、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% and 13% C. 20% and 4% D. 28% and 8%7. Who

24、makes the first presentation of documents under a transferable credit?_.A. ApplicantB. First beneficiaryC. Second beneficiaryD. None of the above8. A transaction caused a $10 000 decrease in both total assets and total liabilities. This transaction could have been _.A. repayment of a $ 10 000 bank l

25、oanB. an asset with a cost of $10000 was destroyed by fire C. 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 deficitsB. the unemployment rate is very highC. producti

26、vity 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 wages and prices11. If a nations interest rates

27、 are relatively low compared to those of other countries, then the exchange value of its currency will tend to _ under a systemof exchange rates.5精品 料推薦A. appreciate. floatingB. depreciate.floatingC. appreciate. fixedD. depreciate. fixed12. Which of the following is true of a companys balance sheet?

28、 _. 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 expansion of the basic accounting equation

29、 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. higher. higher B. lower. higher C. higher. l

30、ower 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 supply D. rate at which money turns over15. Assume that of your $10 000 portfolio, you invest $9 000 in Stock X and $1 000 in Sto

31、ck 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 owne

32、r during the periodD. The reported companys financial position at a specific date17. The concept of beta is most closely associated with _.A. correlation coefficientB. the capital asset pricing modelC. nonsystematic riskD. mean-variance analysis18. The velocity of money for a given year can be calcu

33、lated by _. A. dividing GNP by the money supply6精品 料推薦B. dividing aggregate supply by aggregate demandC. dividing the price level by the money supplyD. multiplying the price level by total output19. The theory of purchasing power parity states that exchange rates between any two currencies will adju

34、st to reflect changes in _.A. the price levels of the two countriesB. the current account balances of the two countries C. the fiscal policies of the two countriesD. the trade balances of the two countries20. Before issuing a credit, it is important for the issuing bank _. A. to make certain of the

35、importers creditworthinessB. to go through the contract termsC. to have a thorough understanding of the exporter D. all of the above答案：1.A 2.D 3.C 4.B 5.B 6.B 7.C 8.A 9.D 10.D11.B 12.D 13.C 14.D 15.C 16.B 17.B 18.A 19.A 20.A1. Under which one of the following circumstances would it be wise for your

36、customer to arrange a forward foreign exchange contract? _.A. Import of goods priced in a foreign currencyB. Import of goods priced in RMBC. Export of goods priced in RMBD. Export of goods priced in a foreign currency where the rate of exchange has been agreed in the sales contract2. Incoterms addre

37、ss _.A. the risks of loss between the partiesB. breaches of contractC. ownership rightsD. type of ship used3. Which of the following is or was an example of representative full-bodied money? _.A. Debt moneyB. ATS accountC. Gold certificateD. Demand deposit4. Risks associated with investing in foreig

38、n countries are the following except_.A. voting riskB. exchange rate risk C. country riskD. political risk5. An exporter sells goods to a customer abroad on FOB and on CIF term. Who is responsible for the freight charges in each? _.7精品 料推薦A. Exporter; ExporterB. Exporter; ImporterC. Importer; Import

39、erD. Importer; Exporter6. Default risk refers to the possibility that a borrower may _. A. be unable to repay the principal on his loanB. be unable to make the interest payments on his loan C. go bankruptD. all of the above7. What is the reserve requirement? _.A. The requirement of a bank to deposit

40、 a percentage of money B. The requirement for deposits in cashC. The percentage of a banks deposits in the form of cash reserves D. The requirement for cash reserves8. A draft is like a check that can be endorsed but it isnt a title togoods, like_.A. a bill of ladingB. an inspection certificateC. a

41、certificate of originD. an insurance certificate9. Arbitrage _.A. is a general economic term for buying something where it is cheap and selling it where it is dearB. keeps exchange rates consistent across marketsC. has been outlawed by the International Monetary Fund D. cannot occur where there is a

42、 forward exchange market E. both A and B10. What is the purpose of comparing the ledger entries with the documents?_.A. To prove that all the transactions have made for the right amounts B. To prove that all the accounts have been posted correctlyC. To check the number of all the debits and credits

43、D. To post the right accounts11. What is Dollar Cost Averaging? _.A. A brokerage account that gives investors cheap tradesB. The idea that prices tend to rise over the long termC. Buying stocks that are below average in valueD. A flat quarterly mutual fund fee averaged throughout the yearE. A strate

44、gy of investing money on a regular basis to take advantage of market fluctuations12. From a Chinese banks point of view, the currency account which it maintains abroad is known as_, while a RMB account operated in China for a foreignbank is termed _.A. a vostro account. a nostro account8精品 料推薦B. a v

45、ostro account a mirror accountC. a mirror account a nostro accountD. a nostro account. a vostro account13. Under FOB terms the bill of lading would state goods _. A. loaded on board, freight payable at destinationB. loaded on board, freight paidC. received for shipment, freight paidD. received for s

46、hipment, freight payable at destination14. The liabilities of the bank as shown in its balance sheet represent the _which it uses in its business. A. sources of the funds B. share capitalC. investmentsD. advances to customers15. International payments and other messages are often sent through an int

47、ernational computer network called _.A. CHAPS B. BACS C. SWIFT D. EIMT16. Low levels of uncertainty (risk) are associated with .A. stocksB. stock optionsC. higher potential returnsD. lower potential returns17. Government securities would appear on a commercial banks balance sheet as_.A. an asset B.

48、reservesC. part of net worthD. a liability18. A major problem with a fixed exchange rate system is that when countries run foreign trade deficits, _.A. there is no self-correcting mechanism B. currency values become unstableC. the value of the reserve currency declines D. world inflation increases19

49、. In a particular economy banks are required to keep 25 percent of all deposits in the form of reserves; this gives a credit-creation multiplier of _.A. four B. threeC. twoD. five9精品 料推薦20. Regulation of the money supply and financial markets is referred to as_.A. fiscal policy B. income policy C. m

50、onetary policy D. budgetary policy答案：1.A 2.A 3.C 4.A 5.D 6.D 7.A 8.A 9.E 10.B11.E 12.D 13.A 14.A 15.C 16.D 17.A 18.A 19.A 20.C1. When a country runs a foreign trade deficit under a flexible foreign exchange rate system, its .A. imports automatically increaseB. currency automatically depreciates C. e

51、xports automatically declineD. currency automatically appreciates2. Which of the following statements is not true of accounting? _.A. Accounting is language of businessB. The user of accounting includes business, government, nonprofit organizations and individuals.C. Accounting is useful for decisio

52、n makingD. Accounting is an end rather than a means to an end3. The term foreign exchange is best defined by the following statement: it is_.A. the rate of exchange between two currenciesB. synonymous with currency exchangeC. the place in which foreign currencies is exchangedD. an instrument such as paper currency, note, and check used to make payments between countries4. What is Asset Allocation? _.A. Buying assets of different types, risks, and potential returns B. Buying assets with more than one brokerage accountC. The ability to buy m