1、现代金融业务(综合)-10 及答案解析(总分：89.95，做题时间：90 分钟)一、BPart One Listen(总题数：2，分数：10.00)BSection One/BDirections: In this section, you will hear ten short statements. Each statement will be spoken only once. After each statement, there will be a pause. During the pause, you must read the four suggested answers ma
2、rked A, B, C and D, and decide which is the best answer. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.（分数：5.00）A.Banks financial condition is the cause of interest rate risk.B.Banks financial condition has impact on interest rate risk.C.Interest rate r
3、isk occurs when interest rate moves against the banks financial condition.D.Interest rate risk occurs when interest rate favours the banks financial condition.A.Forward transactions is not of typical foreign exchange transactions.B.Typical foreign exchange transactions occur in the spot or cash mark
4、et.C.Forward transactions dont occur in the spot or cash market.D.Typical foreign exchange transactions occur only in the spot market.A.The company changed idea.B.The company preferred an L/ to collection.C.The company did not want an L/.D.The company applied for documentary collection.A.Banks often
5、 change their base rate.B.Banks seldom change their base rate.C.Banks never change their base rate.D.Banks change their base rate at regular intervals.（分数：5.00）A.The forward price for a currency is always the same with the spot price.B.The forward price for a currency is always different from the sp
6、ot price.C.Theoretically, the forward price is almost always either higher or lower than the spot price.D.Theoretically, the forward price for a currency is always the same with the spot price.A.The bank had aggregate assets of USD80,200,000.B.The bank had aggregate assets of USD80,020,000.C.The ban
7、k had aggregate assets of USD8,200,000.D.The bank had aggregate assets of USD18,200,000.A.Credit card customers are given a right to buy goods and services.B.The cardholder can buy goods and services within the credit limit.C.Normally, banks will set different credit lines to different groups of car
8、dholders.D.Each month the cardholder receives a statement from the bank.A.In dealing with collections, banks will do nothing to follow the collection order.B.Banks will do something in dealing with the collection order.C.Banks should strictly follow the instructions in the collection order.D.In deal
9、ing with collections, the bank is usually useless.A.The supplier is the prime beneficiary of a transferable L/.B.The middleman is the prime beneficiary of a transferable L/.C.Neither the supplier nor the middleman is the beneficiary of a transferable L/.D.In order to be in favor of the middleman, yo
10、u should open a transferable credit.二、BSection Two/B(总题数：2，分数：10.00)Directions: In this section, you will hear ten short conversations. At the end of each conversation, a question will be asked about what was said. The conversation and question will be spoken only once. During the pause, you must re
11、ad the four choices marked A, B, C, D, and decide which is the best answer. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.（分数：5.00）A.$100B.$120C.$1,200D.$1,000A.It is a plastic card.B.People can lend it to others.C.It can carry- a line of credit ranging
12、 from several hundred to several thousand or more.D.It is very convenient.A.The loan proposal.B.His repayment capability.C.The banks money.D.Her own money.A.3%.B.5%.C.11%.D.None.A.Representatives.B.Agencies.C.Branches.D.Subsidiaries.（分数：5.00）A.The amount.B.The address.C.The name.D.The account number
13、.A.Vertical method.B.Horizontal method.C.Balance sheet.D.Both and .A.Because she lost her bill.B.Because her bill didnt mature.C.Because she forgot the rules.D.Because her bill was not duly presented.A.Documentary credit.B.Documentary collection.C.Payment in advance.D.Open account.A.A debit card can
14、not be used to pay for services.B.A debit card cannot be used to pay for goods.C.A debit card cannot be used to pay for meals.D.A debit card cannot be used to overdraw money.三、BSection Three(总题数：3，分数：10.00)Directions: In this section, you will hear three short passages. At the end of each passage, y
15、ou will hear some questions. The passages and the questions will be spoken only once. After you hear a question, you must choose the best answer from the four choices marked A, B, C and D. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.BPassage One/B（分数：
16、4.00）A.hotel expensesB.stock exchangeC.plane expensesD.restaurant expensesA.It can avoid the necessity of carrying large amount of cash.B.You neednt purchase large amounts of travelers checks.C.You neednt use personal checks in places other than your own locality.D.It cant provide an instant cash se
17、rvice in ease you run out of money.A.very useful and convenientB.uselessC.a waste of moneyD.not popularA.American Express.B.Chinese Peony Card.C.Dragon Card.D.Credit Card.BPassage Two/B（分数：3.00）(1).About a business operating cycle, which of the followings is the most accurate?（分数：1.00）A.12 monthsB.h
18、alf a yearC.the time span during which cash is used to acquire goods and servicesD.always longer than a year(2).Which of the following does not belong to current assets?（分数：1.00）A.cashB.account payableC.account receivableD.note receivable(3).Which of the following is not long term-assets?（分数：1.00）A.
19、machineB.buildingC.landD.inventory for the retailerBPassage Three/B（分数：3.00）A.preferred stockB.common stockC.concept stockD.cynical stockA.to balance risk and to get proper mix of investmentsB.to achieve higher return from investmentsC.to invest in blue chipsD.to get back money before retirementA.th
20、e higher return, the more the riskB.the older the person gets, the less risk he should faceC.the greater the asset portfolio, the higher the returnD.investors should speak to their investment advisor四、BPart Two Readin(总题数：3，分数：15.00)Directions: There are three passages in this section. Each passage
21、is followed by some questions or unfinished statements. For each of them, there are four choices marked A, B, C and D. You should make the best choice and mark the corresponding letter on the ANSWER SHEET by drawing a single line through the center.BSection One/BPassage 1What determines the rate of
22、exchange between currencies will be examined later in this book let, but first it is useful to consider the mechanics of international transactions. To enable a UK importer to pay his American supplier, for example, the facilities of two or more banks are used, firstly in handling the often complex
23、documentation and secondly, through the foreign exchange market, in obtaining the currency required. At one time payments to and from other countries were made by bills of exchange; hence in part the term “exchange rate“, which was maintained even though other methods of payment have largely superse
24、ded the bill of exchange. The British importer will probably need to pay his American supplier in dollars and his British bank can offer him several alternative methods of settlement. It can provide him with a bankers draft drawn in dollars. The bank is able to do this because it will have an accoun
25、t with another bank ( called a correspondent bank) in an American city and it simply issues a dollar cheque or draft drawn on that account. The British importer can then send this draft by airmail to the supplier. Since there is a danger that the draft may be lost or fall into the wrong hands, the s
26、afer and more normal method would be for the British bank to arrange for payment by mail transfer. Instructions are sent by airmail to the correspondent bank in the US to pay on behalf of its customer the required sum to the named recipient from the British banks dollar account. This mail transfer s
27、ystem is very flexible since the instructions for payment can he varied or elaborated to suit practically every kind of requirement.（分数：5.00）(1).How many methods of settlement are mentioned in this passage when the British importer needs dollar to pay his American supplier?（分数：1.00）A.Two.B.One.C.Thr
28、ee.D.Several.(2).Why is the British bank able to offer its customer a bankers draft drawn in dollar?（分数：1.00）A.Its US correspondent bank prefers to make the payment.B.It will send dollar in cash by airmail.C.It has a dollar account with another bank in an American city where the beneficiary lives.D.
29、Its customer has a dollar account with it.(3).What will the correspondent bank do in the settlement according to this passage?（分数：1.00）A.It will make payment in dollars against the bankers draft.B.It will send the draft to the bank in Britain.C.It will issue a documentary credit.D.It will have an ag
30、reement with the bank mentioned.(4).What is the safer and more normal method for the importers bank to effect the settlement?（分数：1.00）A.To issue a bankers draft.B.To arrange for payment by mail transfer.C.To make the payment to its correspondent bank.D.To ask the importer to pay the money on his dol
31、lar account.(5).Who is the “recipient“ in the settlement?（分数：1.00）A.The correspondent bank.B.The British bank.C.The British importer.D.The American supplier.Passage 2Once you own an option, there are three methods that can be used to make a profit or avoid loss : exercise it, offset it with another
32、option, or let it expire worthless. By exercising an option you have purchased, you are choosing to take delivery of (call) or to sell (put) the underlying asset at the options strike price. Only option buyers have the choice to exercise an option. Option sellers, on the other hand, may experience h
33、aving an option assigned to an option holder and subsequently exercised.Offsetting is a method of reversing the original transaction to exit the trade. If you bought a call, you have to sell the call with the same strike price and expiration. If you sold a call, you have to buy a call with the same
34、strike price and expiration. If you bought a put, you have to sell a put with the same strike price and expiration. If you sold a put you have to buy a put with the same strike price and expiration. If you do not offset your position, then you have not officially exited the trade.If an option has no
35、t been offset or exercised by expiration, the option expires worthless. If you originally sold an option, then you want it to expire worthless because then you get to keep the credit you received from the option premium. Since an option seller wants an option to expire worthless, the passage of time
36、 is an option sellers friend and an option buyers enemy. If you bought an option, the premium is nonrefundable even if you let the option expire worthless. As an option gets closer to expiration, it decreases in value.It is important to note that most options traded on U.S. exchanges are American st
37、yle options. In essence, they differ from European options in one main way. American style options can be exercised at any time up until expiration. In contrast, European style options can be exercised only on the day they expire. All the options of one type (put or call) which have the same underly
38、ing security are called a class of options. For example, all the calls on IBM constitute an option class. All the options that are in one class and have the same strike price are called an option series.（分数：5.00）(1).You can choose the following methods to exit an option position except to _.（分数：1.00
39、）A.exercise the optionB.pay the premiumC.offset a dealD.let it expire(2)._ have the option to exercise the option.（分数：1.00）A.Only option sellersB.Only option buyersC.Both the option sellers and buyersD.Only the exchanges(3).If you are a put seller, you have to _ in order to offset the original deal.
40、（分数：1.00）A.buy a put at a lower strike price and earlier expirationB.sell a put with the same strike price and expirationC.buy a put with the same strike price and expirationD.sell a put at a higher strike price and earlier expiration(4).As an option comes to be closer to expiration date, it _.（分数：1
41、.00）A.increases in valueB.devaluesC.lowers its premiumD.increases its premium(5)._ can be exercised only on the day when they expire.（分数：1.00）A.American optionsB.European optionsC.Chinese optionsD.Japanese optionsPassage 3Secured loans involve the pledge of specific collateral. An example is a loan
42、that is secured by a chattel mortgage on an automobile or some other form of personal property. Pledged collateral for secured loans may consist of a variety of assets such as real estate, warehouse receipts, accounts receivable, plants and equipment, trust receipts, negotiable bills of lading, oil
43、runs, corporate stocks, and bonds. The basic requirement of such assets is marketability. The main reason for requesting that a loan be secured is to reduce the banks risk of loss in the event the borrower is unwilling or unable to repay the loan at maturity. Security does not assure that the loan w
44、ill be repaid; however, it does reduce the risk, since the hank becomes a preferred creditor in the event of liquidation, and takes precedence over general creditors in the liquidation of any assets pledged to the bank as collateral.The value of the assets securing a loan may deteriorate, and this d
45、eterioration, coupled with a forced sale, may not furnish sufficient funds to cover the indebtedness. In arranging security for a loan, it is imperative that the bank obtain the primary claim to the collateral and that its value be as great as, or greater than, the amount of the loan. Should the val
46、ue of the collateral exceed the amount of the loan, and the bank be forced to liquidate it because of default on the part of the borrower, the excess is returned to the borrower. In the event the security is not sufficient to cover the loan, the bank can in some instances obtain, through court proce
47、edings, a deficiency judgment for the difference. This entitles the bank to a claim on additional property or income, should the borrower have any. In recent years some states have enacted legislation limiting the use of deficiency judgments in the area of consumer lending. In most instances this ha
48、s taken the form of eliminating the deficiency judgment when the loan is reduced below a certain level. The objective of limiting deficiency judgments was to reduce overcharging on consumer durable goods at the retail level. The limitation was later extended to lenders as well. Limiting the use of t
49、he deficiency judgment has increased the risk of lending and will eventually reduce the availability of credit to certain borrowers. Consumer credit will, to an increasing extent, be made available only to those borrowers who have a good, well-established credit record.（分数：4.95）(1).The word “collateral“ in the first paragraph probably means “_“.（分数：0.33）A.securityB.automobileC.personal propertyD.oil run(2).The banks request for loan security is _.（分数：0.33）A.to make the l
