金融英语证书考试.docx
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金融英语证书考试.docx
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金融英语证书考试
金融英语证书考试(FECT)Exercises-1
(1)
1.Whichofthefollowingisnotafunctionofmoney?
______。
?
A.Toactasamediumofexchange
B.Toactasaunitofaccount
C.Toactasastoreofvalue
D.Toprovideadoublecoincidenceofwants
E.Toactasameansofpayment
2.Thepriceintheforeignexchangemarketiscalled______。
A.thetradesurplus
B.theexchangerate
C.themoneyprice
D.thecurrencyrate
3.Marketriskreferstotheriskof______。
A.financialpricesfluctuations
B.default
C.fraud
D.deferredpayments
4.Whichofthefollowingisnotamongthegenerallyacceptedaccountingprinciples?
______。
A.Cashbasis
B.Prudence
C.Consistency
D.Goingconcern
E.Moneymeasurement。
5.Whatisadocumentaryletterofcredit?
______。
A.Aconditionalbankundertakingtopayanexporteronproductionofstipulateddocumentation
B.Amethodoflendingagainstdocumentarysecurity
C.Aninternationaltradesettlementsystembiasedinfavourofimporters
D.Alloftheabove
6.Holdingagroupofassetsreducesriskaslongastheassets______。
A.areperfectlycorrelated
B.arecompletelyindependent
C.donothavepreciselythesamepatternofreturns
D.haveacorrelationcoefficientgreaterthanone
7.Anamount,payableinmoneygoods,orservice,owedbyabusinesstoacreditor,isknownasa/an。
A.liability
B.debt
C.equity
D.asset
8.Whatfunctionismoneyservingwhenyoubuyatickettoamovie?
______。
A.storeofvalue
B.amediumofexchange
C.transactiondemand
D.aunitofaccount
9.Ifforeignersexpectthatthefuturepriceofsterlingwillbelower,the______。
A.supplyofsterlingwillincrease,demandforsterlingwillfall,andthe
exchangeratewillfall
B.supplyofsterlingwillincrease,demandforsterlingwillrise,andthe
exchangeratemayormaynotincrease
C.supplyofsterlingwillfall,demandforsterlingwillincrease,andtheexchangeratewillrise
D.supplyofsterlingwillfall,demandforsterlingwillfall,andtheexchangeratemayormaynotfall
10.Thedocumentarycollectionprovidesthesellerwithagreaterdegreeofprotectionthanshippingon______。
A.openaccount
B.bank'sletterofguarantee
C.banker'sdraft
D.documentarycredit
11.Whichofthefollowingstatementsisnottrueofcentralbanks?
______。
A.Theypaythegovernment'ssalaries
B.Theyalwaysundertaketheregulationofthebankingsystem
C.Theyarealwaysthelenderoflastresort
D.Noneoftheabove
12.WhenGBP/USDrategoesfrom1.6150to1.8500,wesaythedollar______。
A.appreciatesby12.70%
B.depreciatesby14.55%
C.depreciatesby12.70%
D.appreciatesby14.55%
13.Accordingtodiversificationprincipleininvestment,supposeyouinvestStockXandStockYwithequalfunds,whichofthefollowingisnottrue?
______。
A.IfXandYaretotallyindependentwitheachother,theriskoftheportfolioisreduced
B.IfXandYareperfectlynegativelycorrelated,theriskoftheportfolioisperfectlyoffset
C.IfXandYareperfectlypositivelycorrelated,theriskoftheportfolioisneitherreducednorincreased
D.IfXandYareperfectlynegativelycorrelated,theriskoftheportfolioisneitherreducednorincreased
14.Thesearefourmainmethodsofsecuringpaymentininternationaltrade:
(1)paymentunderdocumentarycredit
(2)openaccount
(3)collection,thatisdocumentagainstpaymentoracceptanceofabillofexchange
(4)paymentinadvance
Fromanexporter'spointofview,theorderofpreferenceis______。
A.(4),
(2),(3),
(1)
B.(4),
(1),(3),
(2)
C.(4),(3),
(1),
(2)
D.
(2),(4),
(1),(3)
15.Themainliabilityonabankbalancesheetis______。
A.deposits
B.capitalandreserves
C.loansandoverdrafts
D.cash
16.______showsthatnetincomeforaspecifiedperiodoftimeandhowitwascalculated。
A.Theincomestatement
B.Thecapitalstatement
C.Theaccountingstatement
D.Thestatementoffinancialcondition
17.Whymusttheliabilitiesandassetsofabankbeactivelymanaged?
______。
A.Becauseassetsandliabilitiesarenotevenlymatchedonthesametimescale
B.Becauseassetsandliabilitiesareevenlymatched
C.BecausetheinterbankmarketusesLIBOR
D.Becauseassetsandliabilitiescanbeunderwritten
18.Iftheexpectedreturnsoftworiskyassetshaveaperfectnegativecorrelation,thenrisk。
A.isincreased
B.fallstozero
C.isunaffected
D.isreducedbyone-half
19.Apossibledisadvantageoffreelyfluctuatingexchangerateswithnoofficialinterventionisthat。
A.somenationswouldexperiencecontinualdeficits
B.theexchangeratesmayexperiencewideandfrequentfluctuations
C.nationswouldnolongerbeabletoundertakedomesticpoliciesdesignedtoachieveandmaintainfullemployment
D.nationswouldneedalargersupplyofinternationalreservesthanotherwise
20.WhatareyourGBP/USDpositionandtheaveragerateifyousell£4mat1.6350buy£5mat1.6340andsell$5mat1.6348?
A.Short£2058478.10long$3370000at1.6371
B.Long£5941521.90short$9710000at1.6342
C.Short£5941521.90long$9710000at1.6342
D.Long£4058478.10short$6630000at1.6336
21.Acorrelationcoefficientof+1.0meanstwostocksare______。
A.perfectlynegativelycorrelated
B.oppositethemarketbeta
C.equaltothemarketbeta
D.perfectlypositivelycorrelated
22.Thepercentageanalysisofincreasesanddecreasesincorrespondingitemsincomparativefinancialstatementsiscalled______。
A.externalanalysis
B.horizontalanalysis
C.verticalanalysis
D.comparativeanalysis
23.Whatisthenameofthedocumentwhichcanmakeabuyerfeelconfidentthatgoodsareofacertainstandard?
______。
A.Inspectioncertificate
B.Commercialinvoice
C.Insurancepolicy
D.Certificateoforigin
24.Sometimesfinancialintermediariesby"borrowingshortandlendinglong"findthemselvesindifficultfinancialsituationsbecause。
A.short-termratesarefalling
B.long-termratesarerising
C.depositsincreasetoorapidly
D.short-termratesriserelativetoratesoftheirholdings
E.long-termratesrisemoresharplythanshort-termrates
25.Incotermswerewritten______。
A.bytheInternationalChamberofCommerce
B.undertheUnitedNationsConventionfortheInternationalSaleofGoods(ViennaConvention)
C.undertheKyotoProtocolsasadoptedin2000
26.Thepurposeofkeepingaccountisto。
A.determinewhetherthebusinesshasmadeaprofitoraloss
B.findoutwhythebusinesshaslostmoney
C.seehowmuchhasbeenspent
D.findoutwhythebusinesscannotfulfilitscommitments
27.Ifreservesare20percent,thenthemultipliereffectwillbe______times,sotheoriginaldepositofRMB40000cancreateupto______ofnewdeposits。
A.5……RMB200000
B.4……RMB120000
C.3……RMB80000
D.6……RMB20000
28.ABCCompanyisthebeneficiaryofaconfirmedirrevocableletterofcredit.______bank(s)willassurethecompanythatitwillbepaid。
A.One
B.None
C.Three
D.Two
29.Legaltenderincludes。
A.notesandcoins
B.notesonly
C.coinsonly
D.notes,coinsandchecks
30.Thefollowingarethebasicfunctionsofabillofladingexcepttoactas______。
A.areceiptforthegoodsfromtheshippingcompanytotheexporter
B.adocumentoftitleforgoodsbeingshippedoverseas
C.acertificateoforigin,whichcertifiesthatthegoodswereproducedinaparticularcountry
D.evidenceofthecarriagecontractbetweentheexporterandthecarrier
31.Persistentforeigntradedeficitsunderaflexibleexchangeratesystemusuallyleadto______。
A.inflationinthedomesticeconomy
B.speculationoffuturedevaluation
C.fallinginterestrates
D.risingimports
32.Theadditionalamountpaidinbuyingorsellingacurrencyatagivenfuturedateiscalled。
A.premium
B.commission
C.tariff
D.dividend
33.Banksmanagetheirassetsconsidering______。
A.risk
B.someoptimumcombinationoftheabove
C.earnings
D.liquidity
34.Whatisthefunctionofthebook-keepingsysteminbankaccounting?
______。
A.Toprovethatalltheday'stransactionshavegonethroughfortherightamount
B.Toprovethatalltheday'stransactionshaveallbeenpostedtotherightaccount
C.Toprovethatthefreshbalanceofthoseaccountsiscorrectafterrecordingthetransactions
D.Alloftheabove
35.Theriskthatisspecifictoindividualstocksiscalled______。
A.systematicrisk
B.countryrisk
C.unsystematicrisk
D.marketrisk
36.ThemainobjectiveoftheExchangeEqualizationAccountisto______。
A.preventunduefluctuationintheexchangevalueofonecountry'sowncurrencyagainstothercurrencies
B.controltherateofinflation
C.ensurethatnotesandcoinscontinuetobeacceptableasamediumofexchange
D.permittheexchangeofpaymentsbetweenbanks
37.Howcanyouprovethatnotransactionsaremissingorwrongattheendoftheday?
______。
A.Thereisnootherwaythanhavethesetransactionsrepostedtotheproperentries
B.Wecanexamineallthetransactionscarefullyandfindthewrongrecords
C.Wecanbalancethetotaldebitsandthetotalcreditsbycalculatingthemagain
D.Wecandothatbycheckingthetotaldebitsandthetotalcreditstoseewhethertheyareinstateofbalance
38.Money_____。
A.servesasthecriticalfunctionofamediumofexchange
B.facilitatestradeingoodsandservices
C.overcomestheinefficienciesofbarter
D.alloftheabove
39.Ifdealersbuycurrencyforwardbutdonotsellforwardatthesametime,theirpositionisknownas。
A.short
B
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