1、现代金融业务(综合)-1 及答案解析(总分：74.97，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 mar
2、ked A, B, C and D, and decide which is the best answer.（分数：5.00）A.Collateral sometimes turns a bad loan into a good one.B.Good loans can be turned into better loans with collaterals.C.Collateral can turn a good loan into a bad one.D.Collateral can turn a bad loan into a worse one.A.In the US, the Fe
3、deral Gold Reserve acts as the central bank.B.In the US, the central bank is the commercial bank.C.In the US, there is no central bank.D.In the US, the central bank is not so important.A.Banks will deal with the documentary credit along with the sales contract.B.Banks take no care of the sales contr
4、act while dealing with the documentary credit.C.Documentary credit and the sales contract are both important to banks.D.Banks will care for either the documentary credit or the sales contract.A.USD4,867,359.12B.USD 4,876 ,359. 02C.USD 48,760,395.20D.USD 4,673,359.22A.Many banks in America accept acc
5、ounts with the Bank of China, Shanghai.B.Many banks in America start business with the Bank of China, Shanghai.C.Many banks in America have accounts with the Bank of China, Shanghai.D.Many banks in America owe money to the Bank of China, Shanghai.（分数：5.00）A.Information technology system can cause op
6、erational risk.B.A major fire can be a cause of operational risk.C.The most important types of operational risk involve breakdowns in internal controls and corporate governance.D.Other aspects of operational risk include firing its dealers, lending officers or other staff exceeding their authority o
7、r conducting business in an unethical or risky manner.A.The documents presented by you are original.B.The documents we received are not original.C.You are requested to present other documents.D.The documents presented to us are in order.A.The trustor, the beneficiary and the settlor are primarily th
8、ree principal parties.B.The trustor, the beneficiary and the trustee are primarily three principal parties.C.The trustor, the beneficiary and the grantor are primarily three principal parties.D.The trustor, the beneficiary and the donor are primarily three principal parties.A.The foreign exchange ma
9、rket operates like other financial markets in every respect.B.The foreign exchange market has a specific place like a stock exchange.C.Theres no physical market place such as stock exchanges for the foreign exchange transactions.D.The foreign exchange market operates quite differently since the form
10、er has no physical market place.A.If you lose your bank notes, you will not get them back.B.If you lose your bank notes, you will get compensation.C.If you lose your bank notes, you can get them back soon.D.If you lose your bank notes, most probably, you will not get them back.二、BSection Two/B(总题数：2
11、，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 read the four choices marked A, B, C, D, and decide which is
12、 the best answer.（分数：5.00）A.Risk aversion.B.Lack of time.C.Lack of skill.D.Enough time.A.Invoice.B.Shoes.C.Carriage.D.Error.A.CDs.B.Demand deposits.C.Fixed-term deposits.D.Building societies deposits.A.The Euros value remains unchanged.B.The value of US dollars has changed a lot.C.The American curre
13、ncy is losing value.D.The RMB is increasing in value.A.In equity securities.B.In personal funds.C.In securities rated as investment grade.D.In property markets.（分数：5.00）A.He lost a cheque and the thief cashed it.B.He opened a cheque account.C.A thief stole the money from the bank.D.He cashed the che
14、que but the money was stolen by a thief.A.RMB account.B.A checking account.C.A U.S. dollar account.D.A special account.A.He has to show the clerk his passport.B.He has to entrust the draft for collection to the bank.C.He has to fill in some forms.D.He has to endorse the draft.A.USD508.09.B.USD58.9.C
15、.USD500.89.D.USD50089.A.A merchant doesnt know the balance before completing a sale.B.No security system has yet been devised for personal checks.C.A personal check is secure at the check stand.D.The clerk can examine all the bankcards.三、BSection Three(总题数：3，分数：10.00)Directions: In this section, you
16、 will hear three short passages. At the end of each passage, you 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
17、SHEET with a single line through the center.BPassage One/B（分数：3.00）A.1992B.1993C.1994D.1995A.The Peoples Bank of China.B.China Foreign Exchange Trading Center.C.Inter-bank Foreign Exchange Market.D.The State Administration of Foreign Exchange.A.1%B.0.3%C.0.5%D.0.4%BPassage Two/B（分数：3.00）A.By posting
18、 all the entries.B.By preparing a trial balance.C.By comparing the entries on both sides.D.By recording all the entries once more.A.It is a schedule that lists the titles of the accounts in the general ledger and their debit or credit balances.B.It is the titles of the accounts in the general ledger
19、 and their debit or credit balances.C.It is a list of the titles of the accounts in the general ledger.D.It is a schedule that makes their debit or credit balances.A.The ledger is correct.B.A journal entry is not posted.C.An error or errors have been made.D.An entry is posted twice.BPassage Three/B（
20、分数：4.00）A.They are drafts issued by a bank on another bank.B.They are a very old form of commercial credit.C.They are exchange bills discounted by customers.D.They are checks cashed through the ATMs.A.The German importer.B.The American exporter.C.The exporters bank.D.Any bank.A.The appropriate docum
21、ents showing that shipment has been made.B.A letter of credit issued by the buyers bank.C.The draft on the drawer in the foreign country.D.The document showing that the transaction has been settled.A.It receives the draft and examines it for its customer.B.It issues a bankers draft to the exporter.C
22、.It accepts the draft and makes the payment.D.It stamps “accepted“ across the face of it.四、BPart Two Readin(总题数：3，分数：15.00)BSection One/BDirections: There are three passages in this section. Each passage is followed by some questions or unfinished statements. For each of them, there are four choices
23、 marked A, B, C and D.Passage 1A banks bookkeeping system is trying to prove three thingsthat all the days transactions have gone through for the right amounts, that they have all been posted to the right accounts, and that the fresh balances of those accounts are correct after recording the transac
24、tions.The waste lists all the days transactions. At the end of the day you prove that no transactions are missing or wrong by balancing the total debits against the total credits. Next, you prove that all transactions have reached the ledger correctly by balancing the total debits and credits on var
25、ious parts of the ledger against the corresponding totals in the waste.A bank proves that the right accounts have been posted by comparing the ledger entries with the vouchers. These are separately checked by having the vouchers posted into the ledger by one clerk and into the statements by another.
26、 The chances of their making the same mistake are small, and it is easy to discover a mistake by comparing ledger and statement.Nowadays it is rare to rely on human arithmetic to work out the correct balance of an account by subtracting all the days debits and adding all the days credits. Although a
27、ccounting machinery is reliable, it is still possible to get the wrong balances by putting wrong information into it.（分数：5.00）(1).What is the function of the bookkeeping system in bank accounting?（分数：1.00）A.To prove that all the days transactions have gone through for the right amounts.B.To prove th
28、at they have all been posted to the right accounts.C.To prove that the fresh balances of those accounts are correct after recording the transaction.D.To try to prove the three things mentioned above.(2).Which is the best way to prove that no transactions are missing or wrong at the end of the day?（分
29、数：1.00）A.We can do that by checking the total debits and the total credits to see whether they are in the state of balance.B.We can examine all the transactions carefully and find the wrong records.C.We can balance the total debits and the total credits by posting them again.D.We can post all the en
30、tries again and correct the mistakes.(3).What is the purpose of comparing the ledger entries with the vouches?（分数：1.00）A.To prove that all the transactions have been made for the right amounts.B.To check the number of all the debits and credits.C.To prove that all the accounts have been posted corre
31、ctly.D.To post the right accounts.(4).Why must the entries be posted separately into the ledger and into the statements?（分数：1.00）A.Because the work must be finished in a very short period of time.B.Because it is unlikely for the same mistakes to be made in both ledger and statements and people can f
32、ind the wrong entries without difficulty.C.Because it is difficult for only one person to do it.D.Because it is easy for people to discover mistakes by keeping accounts.(5).How do people work out the correct balance of an account by hand?（分数：1.00）A.By adding all the entries together.B.By subtracting
33、 all the debits and adding all the credits.C.By computing the aggregate amount of the days transactions.D.By comparing the debits and the credits.Passage 2Valuation of stock prorides the most common form of description. Stock is generally valued at cost or market value, whichever is the lower, as ot
34、herwise profit is shown which may never materialize. It is no more than prudent to err on the side of caution, as some stock may deteriorate or, in the course of time, become unsaleable, and care should be taken to see that in no event must there be an overvaluation.Naturally an undervaluation of cl
35、osing stock keeps down the profit and, of course, the tax payable of such profit. The closing stock of the first year becomes the opening stock of the second year, and, if the stock has been greatly undervalued, then the closing stock of the second year will have to be very greatly undervalued if a
36、similar gross profit ratio is to be shown for both years. For example, if stock at the close of the first year is undervalued by 1,000, the profit will likewise be kept down by 1,000. In the second year, if both the opening and closing stock are undervalued by 1,000, the profit will be unaffected an
37、d will be the actual profit earned. If it is desired to make the profit 1,000 less than actual, in line with the first year, then the closing stock will have to be undervalued by another 1,000, making the stock evaluation 2,000 less than it actually is. The proprietors problems are only just beginni
38、ng, because, to keep the same ratio of gross profit to sales, the stock will have to be undervalued more and more each year and the build-up will mean that in the course of time too much stock will be held in the business and the proprietor will not know what to do with it. If the excess is sold aga
39、inst cheques, the cheques will show in a banking account; it is not easy to sell bulk stock for cash at its full market value. As so many people have found, undervaluation of stock causes a great deal of difficulty.In the present instance, it is not any help for the customer to say that his stock is
40、 worth 42, 000 unless it is his intention to restrict purchases and bring the excess stock back into the account and therefore increase his profit and his tax. By comparing the gross profit ratio over a few years and by careful questioning, it should be fairly straightforward for a banker to judge t
41、he true position about customers stock valuation methods, and to consider if they alter in substance the trading figures produced.（分数：5.00）(1).Stock is measured _ in order to give a true picture of profit.（分数：1.00）A.at cost valueB.at market valueC.at cost or market value, whichever is lowerD.at cost
42、 or market value, whichever is higher(2).The prudence adopted in the valuation of stock is aiming to guard against _.（分数：1.00）A.overvaluation of stockB.under-valuation of stockC.materialization of stockD.none of the above(3).Undervaluation of closing stock may lead to _.（分数：1.00）A.higher profit than
43、 actualB.less profit than actualC.higher tax payableD.none of the above(4).When the customer keeps the same profit ratio for years, undervaluation of stock may end up with the fact that _.（分数：1.00）A.the actual value of stock will be in great excess of the book valueB.the actual value of stock will b
44、e greatly less than its book valueC.the bulk stock will be sold for cash at its full market valueD.none of the above(5).A banker can get the true valuation of the customers stock by _.（分数：1.00）A.browsing the balance sheet of the customerB.careful questioningC.comparing the historical data of the gro
45、ss profit ratioD.all of the abovePassage 3Though the glass building is modern enough, such scenes suggest that little has really changed at Londons ancient insurance market. For centuries, brokers and underwriters have performed similar rituals, in good times and in bad notably in the early 1990s, w
46、hen Lloyds suffered such huge losses that it almost went under. But since it pulled back from the abyss in 1996, Lloyds has reinvented itself. It clings tenaciously to its historic trappings; but, in substance, it is as though it had died and come back in a new form.To see how Lloyd s has changed, l
47、ook at who invests there. This year, Britains largest insurer, CGU, has moved its marine operation into Lloyds. March McLennan, the worlds largest insurance broker, has helped to found a new Bermudian insurer that will underwrite from Lloyds. And the market has welcomed its first big multinational,
48、Smith Kline BeeCham, a drags giant, which has launched an in-house (or “captive“) insurer. Other arrivals read like a Whos of the industry, including Warren Buffets Berkshire Hathaway, Ace, a Bermudian insurer, and Americas Paul.This adds up to a ringing endorsement of Lloyds renewed viability, long
49、-term profitability and competitiveness, none of which could have been taken for granted as recently as 1996. Then the market had racked up the worlds biggest-ever commercial loss(8 billion $13 billion)in five years. It had mined at least 1,600 of its 34,000 members (“names“) , all underwriting with unlimited liability; some committed suicide. Lloyds seemed doomed.（分数：4.95）(1).How is the opinion of the author about the Londons insurance market?（分数：0.33）A.Great c
