金融专业英语证书考试FECT单选练习100题2.docx
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金融专业英语证书考试FECT单选练习100题2.docx
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金融专业英语证书考试FECT单选练习100题2
金融专业英语证书考试FECT单选练习100题-2
1.Usuallythelowinterestratecurrencytradesata______tothehighinterestratecurrencyintheforwardmarket.
A.premium
B.par
C.discount
D.bar
2.Whichofthefollowingstatementsaboutstandbylettersofcreditistrue?
______.
A.Theycanserveasaguaranteetoabuyeragainstasellerdefaulting
B.Theyarecontrarytothegeneralrulethatlettersofcreditmayonlybeusedfortheactualmovementofgoods
C.Theyareunlikeatender(orother)bondintheirlegalstandingandmethodofoperation
D.Theyareunlikeatenderbondwithitsfixedexpirydate
3.Themostliquidofallassetsis______.
A.thestockofcommercialbanks
B.M1
C.intelligence
D.thedebtofmajorcorporations
4.Betaandstandarddeviationdifferasriskmeasuresinthatbetameasures______.
A.onlyunsystematicrisk,whilestandarddeviationmeasurestotalrisk
B.onlysystematicrisk,whilestandarddeviationmeasurestotalrisk
C.bothsystematicandunsystematicrisk,whilestandarddeviationmeasuresonlyunsystematicrisk
D.bothsystematicandunsystematicrisk,whilestandarddeviationmeasuresonlysystematicrisk
5.Whatinformationwouldyoufindinastatementofcashflowsthatyouwouldnotbeabletogetfromtheothertwoprimaryfinancialstatements?
______.
A.Cashprovidedbyorusedinfinancingactivities
B.Cashbalanceattheendoftheperiod
C.Totalliabilitiesduetocreditorsattheendoftheperiod
D.Netincome
6.Ananalystestimatesthatastockhasthefollowingprobabilitiesofreturndependingonthestateoftheeconomy:
Stateofeconomy
Probability
Return
Good
0.1
15%
Normal
0.6
13%
Poor
0.3
7%
Theexpectedreturnofthestockis______.
A.7.8% C.11.7%
D.13.0%
B.11.4%
7.Accordingtotherulesofdebitandcreditforbalancesheetaccounts______.
A.increasesinasset,liability,andowner'sequityaccountsarerecordedbydebits
B.decreasesinassetandliabilityaccountsarerecordedbycredits
C.increasesinassetandowner'sequityaccountsarerecordedbydebits
D.decreasesinliabilityandowner'sequityaccountsarerecordedbydebits265
8.Individualswillacceptthemediumofexchangeinreturnforgoodsandservicesonlyiftheyareconfidentthat______.
A.theinflationrateiszero
B.itpossessesintrinsicvalue
C.theycanpassitontoothers
D.theycanexchangeitforgold
9.Whenacountry'scurrencyappreciates,thecountry'sgoodsabroadbecome______andforeigngoodsinthatcountrybecome______.
A.cheaper...moreexpensive
B.moreexpensive...cheaper
C.cheaper...cheaper
D.moreexpensive...moreexpensive
10.AUScompanyisbiddingforacontractinChina.ItsChinesecustomerasksfora
performancebond.Whatisthemostlikelycourseofaction?
______.
A.Itasksitsbanktoissueatenderbondwhichcanbeconvertedintoaperformancebond
B.ItgivesupitsbidC.Itconsultsitsbankaboutissuingastandbyletterofcredit
D.Itasksitsbanktoissueaperformancebond
11.ABCCo.Ltd.hasa$3500accountreceivablefromXYZStore.OnMarch20,XYZmakesapartialpaymentof$2100toABC.ThejournalentrymadeonMdrch20byABCtorecordthistransactionincludes______.
A.adebittothecashreceivedaccountof$2100
B.acredittotheAccountsReceivableaccountof$2100
C.adebittotheCashaccountof$1400
D.adebittotheAccountsReceivableaccountof$1400
12.Interventionintheforeignexchangemarketmeansthegovernment______.
A.restrictsindividualsfrombuyingandsellingforeignexchange
B.restrictstheimportationofcertaingoods
C.orcentralbankbuysorsellsforeignexchange
D.devaluesthecurrencyintheforeign-exchangemarket
13.Whichofthefollowingisnotaformofcountertrade?
______.
A.Counterpurchase
B.Buy-backC.Offset
D.Balancetrade
14.Acredittoarevenueaccount______.
A.decreasesrevenues
B.increasesequity
C.decreasesequity
D.increasesassets
15.Ifthegovernmentguaranteedthatanyonewishingajobwouldbeprovidedone,thelikelyresultwouldbe______.
A.massivelayoffs
B.anincreaseinthemoneysupply
C.anincreaseininflationaryexpectations
D.thedevelopmentofabartersystem
16.Given$100000toinvest,whatistheexpectedriskpremiumindollarsofinvestinginequitiesversusrisk-freeT-bills(U.S.Treasurybills)basedonthefollowingtable?
______.
Action
Probability
ExpectedReturn
Investinequities
0.6
$50OOP
0.4
-$30000
Investinrisk-freeT-bill
1.0
$5000
A.$20000
B.$18000C.$15000
D.$13000
17.Economistsassumethatmostpeopletakerisks______.
A.becausedoingsoisexciting
B.onlywhentheyhavenorisklessalternative
C.veryinfrequently
D.iftheyarecompensatedfortakingtherisks
18.ThePhillipsCurveshowstherelationshipbetween______.
A.aggregatedemandandaggregatesupply
B.interestratesandinflation
C.recessionsandbooms
D.inflationandtheunemploymentrate
19.Inafixedexchangeratesystem,speculativesellingofacurrencyisbasedonanticipationof .
A.appreciation
B.devaluation
C.aforeigntradesurplus
D.interestrateincrease
20.Acollectingbankisemployedby______.
A.theprincipal
B.theremittingbank
C.thedrawer
D.thedrawee,whoisitscustomer
21.Thefollowingstatementsdescribingnetincomeareallcorrectexceptthat______.
A.netincomeiscomputedintheincomestatement,appearsinthestatementofowner'sequity,andincreasesowner'sequityinthebalancesheet
B.netincomeisequaltorevenuesminusexpenses
C.netincomeiscomputedintheincomestatement,appearsinthestatementofowner'sequity,andincreasestheamountofcashshowninthebalancesheet
D.netincomecanbedeterminedusingtheaccountbalancesappearinginanadjustedtrialbalance
22.Astrongdollarencourages______.
A.traveltotheUnitedStatesbyforeigners
B.purchaseofAmericangoodsbyforeigners
C.Americanstotravelabroad
D.Americanstosavedollars
23.Inwhatcircumstanceswouldthebeneficiaryofaconfirmeddocumentarycreditnotreceivepayment?
______.
A.Failureoftheapplicant
B.Failureoftheissuingbank
C.Failuretofulfilthecreditterms
D.Failuretofulfilthecommercialcontract
24.Thebalanceintheowner'scapitalaccountofABCCo.Ltd.atthebeginningoftheyearwas$65000.Duringtheyear,thecompanyearnedrevenueof$430000andincurredexpensesof$360000,theownerwithdrew$50000inassets,andthebalanceoftheCashaccountincreasedby$10000.Atyear-end,thecompany'snetincomeandtheyear-endbalanceintheowner'scapitalaccountwere,respectively .
A.$20000and$95000
B.$70000and$95000C.$70000and$85000
D.$60000and$75000
25.Assumetheinflationrateisexpectedtobe5percentandtheunemploymentrateis8percent.Ifworkerswishtogeta2percentrealwageincrease,theyshouldbargainforamoneywageincreaseof______.
A.3percent
B.5percent
C.7percent
D.13percent
26.Whichstatementaboutportfoliodiversificationiscorrect?
.
A.ProperdiversificationcanreduceoreliminatesystematicriskB.Asmoresecuritiesareaddedtoaportfolio,totalrisktypicallywouldbeexpectedtofallatadecreasingrate
C.Therisk-reducingbenefitsofdiversificationdonotoccurmeaningfullyuntilatleast30individualsecuritiesareincludedintheportfolio
D.Diversificationreducestheportfolio'sexpectedreturnbecauseitreducesaportfolio'stotalrisk
27.Yourcustomeristheapplicantforadocumentarycredit.Whichofthefollowingpointswouldappeartobeillogicaliftheyappearedontheapplicationform?
______.
A.InvoicepriceshownasFOB,billsofladingtobemarkedfreightpaid
B.Lastdateforshipmentoneweekbeforeexpirydate
C.InvoicepriceshownasC&F,butnoinsurancedocumentrequested
D.Nomentionofthelatestdateofshipment
28.PortfoliotheoryasdescribedbyMarkowitzismostconcernedwith______.
A. theeffectofdiversificationonportfoliorisk
B. B.theeliminationofsystematicrisk
C. activeportfoliomanagementtoenhancereturn
D. theidentificationofunsystematicrisk
29.Commercialbankdepositswiththecentralbankarepartofthebank's
______.
A.networth
B.demanddepositsC.loanportfolio
D.reserves
30.Foreigntradecanbeconductedonthefollowingtermsexceptfor______.
A.openaccount
B.documentarycollection
C.documentarycredits
D.publicbonds
31。
riskforasecurityheldinadiversifiedportfoliois______.
A.specificrisk
B.standarddeviationofreturns
C.reinvestmentrisk
D.covariance
32.Thesecuritymarketlinedepicts______.
A.asecurity'sexpectedreturnasafunctionofitssystematicrisk
B.themarketportfolioastheoptimalportfolioofriskysecurities
C.therelationshipbetweenasecurity'sreturnandthereturnonanindex
D.thecompleteportfolioasacombinationofthemarketportfolioandtherisk-freeasset
33.Thekeyfactorlimitinghowmuchacommercialbankhasimmediatelyavailabletol
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