金融exercise for234选择题样题.docx
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金融exercise for234选择题样题.docx
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金融exercisefor234选择题样题
1.
Anincreaseinanation'sfinancialliabilitiestoforeignresidentsisa:
A.
reserveinflow.
B.
reserveoutflow.
C.
capitalimports.
D.
capitalexports.
2.
Whichofthefollowingisconsideredacapitalinflow?
A.
AsaleofU.S.financialassetstoaforeignbuyer
B.
AloanfromaU.S.banktoaforeignborrower
C.
ApurchaseofforeignfinancialassetsbyaU.S.buyer
D.
AU.S.citizen'srepaymentofaloanfromaforeignbank
3.
Inacountry'sbalanceofpayments,whichofthefollowingitemswillberecordedasadebitentry?
A.
Domesticbankbalancesownedbyforeignersarereduced
B.
Foreignbankbalancesownedbydomesticresidentsarereduced
C.
Assetsownedbydomesticresidentsaresoldtononresidents
D.
Securitiesaresoldbydomesticresidentstononresidents
4.
WhenaU.S.residentincreasesherholdingsofaforeignfinancialasset,thisitemisrecordedasa:
A.
creditentryintheU.S.currentaccount.
B.
debitentryintheU.S.currentaccount.
C.
creditentryintheU.S.capitalaccount.
D.
debitentryintheU.S.capitalaccount.
5.
WhichofthefollowingwouldtendtocontributetoaU.S.currentaccountsurplus?
A.
TheUnitedStatesmakesaunilateraltariffreductiononimportedgoods.
B.
TheUnitedStatescutsbackonAmericanmilitarypersonnelstationedinJapan.
C.
U.S.touriststravelinlargenumberstoAsia.
D.
RussianvodkabecomesincreasinglypopularintheUnitedStates.
6.
Acountryexperiencingacurrentaccountsurplus:
A.
needstoborrowinternationally.
B.
isabletolendinternationally.
C.
mustalsohavehadasurplusinitsoverallpaymentsbalance.
D.
spendsmorethanitearnsonitsmerchandiseandtrade,internationalincomepaymentsandreceiptsandinternationaltransfers.
7..
Anationisconsideredtobea(n)_____intheinternationalmarket,ifitscurrentaccountisindeficit.
A.
importer
B.
exporter
C.
borrower
D.
lender
8.
Anationiscalledalenderif:
A.
itsfinancialaccountisindeficitduringatimeperiod.
B.
itscurrentaccountisinsurplusduringatimeperiod.
C.
itscurrentaccountisindeficitduringatimeperiod.
D.
itsnetstockofforeignassetsispositive.
9.
Anationiscalledacreditorif:
A.
itprovidedfinancialassetstoothercountries.
B.
itsnetstockofforeignassetsispositive.
C.
itscurrentaccountisinsurplusduringatimeperiod.
D.
itscurrentaccountisindeficitduringatimeperiod.
10.
Theinternationalinvestmentpositionofacountryshows:
A.
itsstocksofinternationalassetsduringatimeperiod.
B.
itsstocksofinternationalliabilitiesduringatimeperiod.
C.
itsstocksofinternationalassetsandliabilitiesatapointintime.
D.
whetheritscurrentaccountisindeficitorsurplusatapointintime.
11.
IfthepriceofBritishpoundsintermsoftheU.S.dollarsis$1.80perpound,thenthepriceofU.S.dollarsintermsofBritishpoundsis:
A.
≤1.80perdollar.
B.
≤0.555perdollar.
C.
≤0.90perdollar.
D.
≤3.60perdollar.
12.
RapidincreasesintheU.S.exportsofgoodsandswillresultina(n)_____foreigncurrencyanda(n)_____theU.S.dollarsintheforeignexchangemarket.
A.
increaseinthedemandfor;increaseinthesupplyof
B.
increaseinthesupplyof;increaseinthedemandfor
C.
shortageof;surplusof
D.
decreaseinthesupplyof;decreaseinthedemandfor
13.
AnincreaseintheU.S.importsofgoodsandsfromtheEUcountrieswillresultina(n)_____euroanda(n)_____theU.S.dollarsintheforeignexchangemarket.
A.
increaseinthesupplyof;increaseinthedemandfor
B.
decreaseinthedemandfor;decreaseinthesupplyof
C.
surplusof;shortageof
D.
increaseinthedemandfor;increaseinthesupplyof
14.
AssumeyouareaChineseexporterandexpecttoreceive$250,000attheendof60days.Youcanremovetheriskoflossduetoadevaluationofthedollarby:
A.
sellingdollarsinthe60-dayforwardexchangemarket.
B.
buyingdollarsnowandsellingthesedollarsattheendof60days.
C.
sellingtheyuanequivalentintheforwardexchangemarketfor60-daydelivery.
D.
keepingthedollarsintheUnitedStatesaftertheyaredeliveredtoyou.
15.
AssumeyouareanAmericanimporterwhomustpay500,000Eurosattheendof90dayswhenyoureceive1,000casesofFrenchwineatyourwarehouseinNewYork.Supposethatyouhavenotcoveredthistransactionintheforwardmarket,inwhichofthefollowingcaseswillyousufferthelargestloss?
A.
Theeurospotexchangeratevaluevis-à-visthedollardoesnotchange
B.
Theeuro(spot)initiallyappreciatesby2percent,andthendepreciatesby1percent
C.
Theeuro(spot)initiallydepreciatesby3percent,andthenappreciatesby2percent
D.
Theeuro(spot)initiallyappreciatesby3percent,andthendepreciatesby2.9percent
16.
A_____givestheholdertherightbutnottheobligationtosellaforeigncurrencyatsometimeinthefutureatapricesettoday.
A.
forwardexchangecontract
B.
currencyswap
C.
putoption
D.
calloption
17.
Whichofthefollowingfinancialinstrumentsprovidesabuyertheright(butnottheobligation)topurchaseorsellafixedamountofcurrencyataprearrangedprice,withinafewdaystoafewyears?
A.
Letterofcredit
B.
Currencyoption
C.
Currencyswap
D.
Forwardcontract
18.
Aninvestmentis_____ifitisfullyhedgedagainstexchange-raterisk.
A.
covered
B.
uncovered
C.
speculative
D.
riskneutral
19.
Foraninvestorwhostartswithdollarsandwantstoendupwithdollarsinthefuture,whichofthefollowingchoicesisanexampleofacoveredinternationalinvestment?
A.
Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andsignaforwardexchangecontracttobuytheforeigncurrency
B.
Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andsignaforwardexchangecontracttobuydollars
C.
Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andthenbuydollarsatthefuturespotrate
D.
Buyadollar-denominatedfinancialasset
20.
Foraninvestorwhostartswithdollarsandwantstoendupwithdollarsinthefuture,whichofthefollowingchoicesisanexampleofanuncoveredinternationalinvestment?
A.
Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andsignaforwardexchangecontracttobuytheforeigncurrency
B.
Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andsignaforwardexchangecontracttobuydollars
C.
Selldollarsatthespotrate,investtheproceedsinforeigncurrency-denominatedfinancialinstruments,andthenbuydollarsatthefuturespotrate
D.
Buyadollar-denominatedfinancialasset
21.
Thecoveredinterestdifferentialis_____thesumoftheforwardpremiumonacurrencyandtheinterestratedifferential.
A.
approximatelyequalto
B.
morethan
C.
exactlyequalto
D.
lessthan
22.
Theexchangeratevalueofaforeigncurrencyis_____intheshortrunbyariseintheexpectedfuturespotexchangeratevalue.
A.
raised
B.
lowered
C.
madevolatile
D.
notaffected
23.
_____isbuyingacountry'scurrencyspotandsellingthatcountry'scurrencyforward,tomakeanetprofitfromthecombinationofthedifferenceininterestratesbetweencountriesandtheforwardpremiumonthecountry'scurrency.
A.
Coveredinterestarbitrage
B.
Uncoveredinterestarbitrage
C.
Coveredinterestparity
D.
Uncoveredinterestparity
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