1、初级银行综合类模拟试卷 6及答案与解析 一、单项选择 1 The word “finance“ signifies capital in monetary, that is, _, normally for capital purposes, through financial markets or financial institutions. （ A） in the way of capitals （ B） in the form of funds lent or borrowed （ C） in the method of funds （ D） on the form of funds
2、lent or borrowed 2 A financial market consists of foreign exchange market, money market, bond market and equity market. The last two markets usually fall into the category of _. （ A） preferred stock market or liquidation market （ B） stock market or debt market （ C） securities market or capital marke
3、t （ D） securities market or liquidation market 3 _ relates to the liability of the issuing bank, whereas _ relates to the responsibility of the correspondent bank or other banks. （ A） Revocable or “inrevocable“, “unconfirmed“ or “confirmed“ （ B） Cancelled or “cancellate“, “confirmative“ or “confirme
4、d“ （ C） Revocable or “inrevocable“, “confirmative“ or “confirmed“ （ D） Cancelled or “incancelled“, “unconfirmed“ or “confirmative“ 4 A documentary collection can be defined as the collection of a sum due from a buyer by a bank _ against delivery of certain documents. （ A） acting on behalf of a buyer
5、 （ B） behaving on behalf of an exporter （ C） acting on behalf of an importer （ D） acting on behalf of a seller 5 A forward exchange rate can move for two reasons: (1) because the spot rate moves, and (2) _. （ A） because of changes in interest rate which affect the forward rates （ B） because of chang
6、es in interest rate which affect the forward differential （ C） for the changes in interest rate affect the forward rates （ D） because of changes in interest rate which affect the spot rates 6 Government - to - government bilateral loans are generally in the form of grants or credits with very low in
7、terest rates and long maturities. The closest meaning of bilateral is _. （ A） bilingual （ B） bilabial （ C） a double side （ D） biped 7 The international payments system of the buyers country is not being hampered by exchange controls. The word hamper means _. （ A） hinder （ B） put off （ C） postpone （
8、D） hold up 8 If the components _ delivered earlier we might have been able to start work on time. （ A） might have been （ B） were （ C） had been （ D） were to 9 The number of orders went up _ we increased our prices by 15%. （ A） when （ B） although （ C） because （ D） since 10 When a commercial bank which
9、 was established _ is found to have its ratios of assets and liabilities at variance with the stipulations within a designated time limit. （ A） superior to the promulgating of this law （ B） inferior to the promulgation of this law （ C） priority to the promulgation of this law （ D） prior to the promu
10、lgation of this law 二、完型填空 10 accept , discount, against, dishonoured, attached , hypothecation, credit, draw, ownership, amount When a Letter of Credit has been confirmed, the agent bank in the sellers country usually asks for the shipping documents, and often corite to the seller to say that they
11、are willing to【 21】 a draft on them for the【 22】 . This draft (another name for Bill of Exchange) is often【 23】 to the shipping documents and is called a Documentary Bill of Exchange. Banks often state that the seller can【 24】 on them for the amount of the Credit. A buyer or his bank may ask the sel
12、ler if he is willing to allow them a period of 30, 60, or 90 days to pay. They may write. “can you present your drafts for 60 d/s?“ this is a form of【 25】 and allows the buyer time to pay. The agent bank will normally accept a draft【 26】 documents, because they need them to make sure that the title
13、to【 27】 has been transferred. Some times the bank demands a letter of【 28】 so that they have the right to sell the goods if the Bill of Exchange is【 29】 , that is, if the buyer or his bank do not pay. This does not apply to irrevocable documentary credit. However, the bank can【 30】 the Bill of Excha
14、nge by deducting the interest for the period the draft has to go before maturity. 三、阅读理解 20 We meets the challenge of globalization Ten years ago, US bankers and brokers talked about globalization. Capital barriers would fall, there would be seamless 24 - hour trading across time zones and full - se
15、rvice institutions would serve farmers in Iowa to car workers in Osaka. As the US capital markets enter the 1990s, the reality is that globalization is still in its early stages and next decade as it was in the last. There has, however, been a qualitative change in the rhetoric. Then, globalization
16、was seen in the US as an opportunity. Now the US is far less confident of its ability to dominate the global market and is showing signs of falling behind its competitors. Globalization is now an urgent challenge. Mr. Curtis Welling, managing director in charge of equities at First Boston, says, “Th
17、e US has had a very geocentric view. Our hegemony over world capital flows was almost regarded as a birthright. As far as important capital flows are concerned, there was a real danger of the world passing us by. The US was in danger of becoming irrelevant.“ While the US was once slow to realise its
18、 competitive position in world financial markets could be eroded. Mr. Welling believes that there is a growing awareness of the need to act quickly to position the nations markets and financial institutions for the future. This concern has been crystallised in regulatory initiatives, legislative pro
19、posals and product innovations. Progressive attitudes at both the US Federal Reserve and the Securities and Ex- change Commission (SEC) are central to these efforts. The SEC, which has just formed an Office of International Affairs, has shifted into top gear to harmonise regulations with overseas co
20、unterparts to promote the free and efficient flow of capital. The nuts and bolts of clearance and settlement, for example, are a priorty. Mr. Welling of First Boston, puts the challenge in graphic terms: We have gone about as far as we can go with broadbrush conceptual descriptions of the global mar
21、ket. We can see the house, it looks great but nobody can live in it until the plumbing and electricity is in place. In spite of all the talk of the global markets, it is startling that US pension funds have committed less than 3% of their 2 600 billion in assets to non - US securities. One key reaso
22、n for this is that investors and traders have to negotiate a minefield of different regulations when operating in overseas markets. 21 What was the American view of globalization ten years ago? （ A） That it was a utopian idea, impossible to achieve. （ B） They thought it would soon create a single wo
23、rld banking system. （ C） Different areas of the world would still require different banks. （ D） Difference in time around the world would still cause problems. 22 In what ways were the American attitudes to globalization mistaken? （ A） The US believed it had an automatic right to lead the world bank
24、ing system. （ B） The US did not act competitively enough. （ C） The US thought the rest of the world was irrelevant. （ D） America looked at globalization from its own viewpoint. （ E） All of the above. 23 Which of the following statements is true? （ A） The SEC has set up a special body to work on inst
25、itutional matters. （ B） Details on how to move capital between countries are finalised. （ C） Mr. Welling feels more work is needed on the global market concept. （ D） nuts and bolts (line 53) and “plumbing and electricity“ (line 62 - 3) have similar meanings. 23 Correspondent banking faces a problem
26、of definition. Five years ago the business was preoccupied with electronic funds transfer. The spread of Swifts messaging network and the developing of the equally efficient clearing systems promised to elevate the medium through which banks communicate and fitted the traditional concept of correspo
27、ndent banks talking to each other. By streamlining this function, however, the nature of the business changed and the importance of nurturing interbank relationships dwindled in the eyes of some correspondent bankers. Technology tends to lead to concentration, because the customer has gone to the ba
28、nk that is bigger and faster, and can handle more volume, explains Ian Cormack, who heads Citicorps financial institutions group in London and sits on the council of the clearing system in the UK. Moving or receiving money has always been at the heart of interbank activity. Lawrence Grand, internati
29、onal banking director at Barclays, makes the fundamental point that correspondent banking will always exist in a world where banks have to talk to other banks to conduct money transmissions. This view is shared at Manufacturers Hanover, where Joseph Long-aberdi, a banking vice president and senior r
30、epresentative, believes funds transfer business is still the major product over which correspondent banks wage battle. But while the need to balance interbank accounts remains a core function of the business, the complexion of the funds passing through the payments system has altered dramatically. T
31、he rise and rise of financial activity has displaced trade - related flows, particularly in the period after Big Bang, until today around 90 per cent of the business consists of financial transactions, estimates Mr. Cormack. Volumes continue to rise significantly in the major clearing centres, large
32、ly feeding off growth in securities processing and foreign exchange. The value of dollar - dominated transactions passing through New Yorks clearing house inter - bank payments system (Chips) increased by 23.7 percent last year to a daily average of $ 526 billion, equivalent to 126 840 transactions
33、a day, and compared with $ 425 billion and 113 758 transactions in 1986. In Londons sterling market the value of daily transactions passing through the clearing house automated payments system (Chaps) climbed by 28.5 percent in the year ending March 1988 to 45 billion, or 23 441 transactions a day,
34、compared with 3 billion and 20 958 in the previous months. Keeping pace with growth has not been easy, particularly for the banks which for reasons of size, cost and strategy have been confined to a marginal role in the business. Commitment to the technological infrastructure is vital. Five years ag
35、o Manufacturers Hanover had 75 million invested in a worldwide telecommunications network. Anyone who baulked at such an investment five years ago would find it difficult to enter the market today. 24 Read this article and decide which of the following headlines it originally had. （ A） Technology th
36、reatens correspondent banking. （ B） Correspondent banking remains traditional. （ C） Correspondent banking- technology demonstrates its worth. 25 Finish the statement below with the ending that is best according to the text.Five years ago （ A） it looked as if technology would fundamentally change cor
37、respondent banking. （ B） it seemed as if technology would reinforce correspondent bankings previous role. （ C） correspondent banking was totally dependent on technology. （ D） technology was only just being introduced to correspondent banking. 26 Finish the statement below with the ending that is bes
38、t according to the text.Contrary to expectations, improved communications _. （ A） increased the need for correspondent banks to work closely together. （ B） had little effect on correspondent banking. （ C） reduced the importance of correspondent banking interrelationships. （ D） led to a decrease in c
39、orrespondent banking business. 四、英释汉 27 The impact globalization has on local - national insurers is positive. 28 Assurbanking refers to the system of taking bank products manufactured by an insurance companys own bank and selling them through tile insurers distribution channels. 五、判断正误 28 Internati
40、onal trade always creates the need for forward operations, if the exchange risk is to be hedged. Let us consider the case of a Swiss importer who has bought goods in Germany, in- voiced in Euro, payable in 90 days. To eliminate the risk of a significant rise of the Euro in the meantime and also to h
41、ave the basis for an exact price calculation, he buys the Euro 90 days forward. In the converse case a Swiss exporter knows that in three months he will receive U. S. dollars in payment for this export. Here again, in order to eliminate the exchange risk, he hedges by selling the U. S. Dollar three
42、months forward. Not to do these, forward transactions would be equivalent to speculating, on a fall of the Euro in the first case, or a rise of the U. S. dollar in the second case. 29 In the first case, “invoiced in Euro“ means that the contract asks the Swiss importer to pay in Euro to the Exporter
43、. （ A） Right （ B） Wrong （ C） Doesnt say 30 In the first case, the Swiss importer will buy the Euro 90 days later. （ A） Right （ B） Wrong （ C） Doesnt say 31 In the second case, the Swiss exporter sells the U. S. dollar because be believes that the U. S. dollar will rise. （ A） Right （ B） Wrong （ C） Doe
44、snt say 31 To finance the national debt, the government issues a variety of debt securities. The most widely held liquid security is the Treasury bill, which is commonly issued by the ministry of finance. However, some Treasury bills, like the Treasury bill of the U. S. government, do not actually p
45、ay interest. Instead they are issued at a discount from par (their value at maturity). The investors yield comes from the increase in the value of the security between the time it was pm, chased and the time it matures. Treasury bills are attractive to investors because they are backed by the govern
46、ment and therefore are virtually free of default risk. Because even if the government ran out of money, it could simply print more to pay them off when they mature. The risk of unexpected changes in inflation is also low because of the short term to maturity. The markets for Treasury bills in most d
47、eveloped countries are deep and liquid. A deep market is one with many different buyers and sellers. A liquid market is one in which securities can be bought and sold quickly and with low transaction costs. Investors in markets that are deep and liquid have little risk that they will not be able to
48、sell their securities when they want to. 32 reasury bills are short - term and virtually free of default risk. （ A） Right （ B） Wrong （ C） Doesnt say 33 As some treasury bills do not actually pay interest, they are not attractive to investors. （ A） Right （ B） Wrong （ C） Doesnt say 34 The markets for
49、treasury bills in most developed countries have many different buyers and sellers. （ A） Right （ B） Wrong （ C） Doesnt say 35 nvestors in deep and liquid markets face immense risk that they will not be able to sell their securities when they want to. （ A） Right （ B） Wrong （ C） Doesnt say 六、写作题 36 Write a letter according to the following request, write your answer on the ANSWER SHEET. 代理关系 感谢贵行 年 月 日来函。 关于贵行建立直接业务关系的提议，我们正在考虑我们两行的业务量是否值得建立这样的直接关系。你行也许了解，目前我们两国的业务量有限。现在这种把委托我行的业务通过苏黎世的瑞士银行来办尚可应付
