金融英语中级银行业务-2及答案解析.doc

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1、金融英语中级银行业务-2 及答案解析(总分：108.00，做题时间：90 分钟)一、BSECTION ONE (Co(总题数：1，分数：20.00)Now listen to a short conversation and a passage on the tape. This will be played once on the recorder. You may make notes while you are listening, but you should not answer any questions until the reading is over. BQustion 1/

2、B（分数：20.00）(1).What is the name of the officer in charge of opening Letter of Credit for customers?（分数：2.00）填空项 1:_(2).What is the safest way of securing settlement for exporter?（分数：2.00）填空项 1:_(3).Which company does Mr. Yang come from?（分数：2.00）填空项 1:_(4).How many parties are involved in it? And nam

3、e 3 of them.（分数：2.00）填空项 1:_(5).Before issuing a credit, what must the bank make certain?（分数：2.00）填空项 1:_(6).Will the paying bank send the documents to the issuing bank or to the buyer?（分数：2.00）填空项 1:_(7).What is the most important document stipulated in an application for L/C?（分数：2.00）填空项 1:_(8).Ca

4、n the issuing bank be paid in cash?（分数：2.00）填空项 1:_(9).Can a loan be secured by the goods which is just imported?（分数：2.00）填空项 1:_(10).What gives the receiver the title to the goods?（分数：2.00）填空项 1:_二、BSECTION TWO (Co(总题数：12，分数：24.00)1.The Land Fund is now managed by the HKMA under the direction of th

5、e Financial Secretary as a combined portfolio with the Exchange Fund.（分数：2.00）A.正确B.错误2.After July 1997, mainland Chinese banks applying to operate in Hongkong are still placed under the category of foreign banks.（分数：2.00）A.正确B.错误3.Money is a commodity itself.（分数：2.00）A.正确B.错误4.Credit instruments ar

6、e issues by which investors supply permanent financing to firms or other borrowers including governments.（分数：2.00）A.正确B.错误5.Debit instructions arise when the party to whom payment is to be made demands the funds from the bank holding the debtors money.（分数：2.00）A.正确B.错误6.Compared with call deposits,

7、time deposits generally have a shorter deposit time restriction, which ranges from 24 hours to one week.（分数：2.00）A.正确B.错误7.Under conditional lease, the company or the bank holds the title, takes the investment credits and depreciation expenses, and sells or releases the facilities when the lease exp

8、ires.（分数：2.00）A.正确B.错误8.A breakers cheque is a negotiable instrument.（分数：2.00）A.正确B.错误9.Depending on the need of clients, SWIFT is the most convenient and the safest method.（分数：2.00）A.正确B.错误10.There is no circumstance where the “non-disclosure“ rule can be broken without the consent of the customer.

9、（分数：2.00）A.正确B.错误11.Index deposit combines the benefit of a time deposit and an investment.（分数：2.00）A.正确B.错误12.A negotiable instrument is a conditional Order or promise to pay a certain amount of money.（分数：2.00）A.正确B.错误三、BSECTION THREE (总题数：6，分数：24.00)13.Name any 3 types of leasing services offered

10、by breaks.（分数：4.00）_14.What is the significance of Hongkong Inter-bank Offered Rate?（分数：4.00）_15.List any 3 investment services that banks provide to their retail customers.（分数：4.00）_16.List any 3 financing services that a hank provides to an exporter.（分数：4.00）_17.State the parties involved in a doc

11、umentary credit arrangement.（分数：4.00）_18.List any 4 common signs and symptoms of overtrading.（分数：4.00）_四、BSECTION ROUR/(总题数：2，分数：20.00)19.Whats the relationship between banks and clients? What services do banks provide to the personal customers?（分数：10.00）_20.Describe money markets and capital market

12、s.（分数：10.00）_五、BSECTION FIVE/(总题数：3，分数：20.00)21.How do banks manage their risk of bad loan?（分数：5.00）_22.(a)State the main function of the following documents:(i) bill of lading(ii) certificate of insurance(iii) certificate of origin(iv) combined shipment document(b)Comparisons between financial leas

13、e and operating leaseFinancial lease Operating leaseLessors responsibilities The financing of facilitiesFacilities maintenance and servicingLessees responsibilitiesPossession of the facilities such as Possession of the facilities such as and taxationMake lease payments when using the facilities（分数：5

14、.00）_23.Wang wants to transfer his money from China to the US. Could you explain the different money transfer methods provided by banks to him?（分数：10.00）_金融英语中级银行业务-2 答案解析(总分：108.00，做题时间：90 分钟)一、BSECTION ONE (Co(总题数：1，分数：20.00)Now listen to a short conversation and a passage on the tape. This will b

15、e played once on the recorder. You may make notes while you are listening, but you should not answer any questions until the reading is over. BQustion 1/B（分数：20.00）(1).What is the name of the officer in charge of opening Letter of Credit for customers?（分数：2.00）填空项 1:_ （正确答案：George Tangkerson）解析：听力原文

16、1-10 B Letter of Credit/B A: East Bank. Good morning. B: Hello. May I speak to the officer in charge of opening Letter of Credit for customers. A: Yes, this is George Tangkerson speaking. What can I do for you? B: This is Andrea Yang from Southeast Computer Ltd. We have an oversea supplier who wants

17、 to settle payment through L/C. Since this is the first time we have a transaction, they prefer the safest way of securing settlement, and suggest L/C. But we never handled it before. And your bank is our favorite one where we do all our banking. So Id like to know about L/C to smooth that new deal.

18、 A: OK. Mrs. Yang, thank you for choosing our bank as your favorite bank. In fact, a documentary letter of credit, after payment in advance, represents the safest and fastest way of securing payment for exporters, as the exporters can personally retain control of the documents of title to the goods

19、until the moment of acceptance of a bill of exchange. B: I see, thats why they want it. Could you tell me how many parties are involved in a credit? A: Strictly speaking, there are five parties. The first one is the applicant, usually the buyer. In your case, its you. You arrange a credit in accorda

20、nce with the terms of the contract you have made with the beneficiary. B: You mean with the supplier? A: Exactly, he is the second party, and the credit is issued in his favor. B: I was told that if I come to your bank and ask you to open a L/C for us, you function as the issuing bank. A: Correct. W

21、e, the issuing bank, commit ourselves in accordance with your instruction. And here comes the fourth partythe advising/confirming bank, which is located in the country of the beneficiary and is usually our banks correspondent. I mean the issuing banks correspondent. Then, the paying/accepting bank m

22、akes payment to the beneficiary. B: So in the process of making settlements by means of L/C, first of all, the buyer applies to the issuing bank to open a credit in favor of the exporter. Will his application always be approved? How about my application? A: Not necessarily. It will depend on the buy

23、ers creditworthiness. Before issuing a credit, the bank must make certain of its customers creditworthiness. If this is satisfactory, the credit is then advised to the exporter through a bank in his own country, that is the advising bank. In your case, I assure you that your application will be acce

24、pted, because we know your company very well through all the banking you have done with our bank. B: Glad to hear that. Then, what is the issuing bank supposed to do next? A: Under the term of credit, the issuing bank undertakes that the seller will be paid for his goods if he complies with certain

25、stated conditions: these will call for certain documents, such as invoices, bills of lading and insurance documents. On condition that the documents presented to the advising bank due to him in exchange for tine documents. B: Will the paying bank send the documents to you or to us? A: To us by air-m

26、ail, never to you. When we have received the documents, we hand them to you. And when the ship docks, your company will presents the bills of lading to the shipping company and receive your goods. B: So the payment for the goods by our company to you is a matter of arrangement between us and of no c

27、oncern to the exporter? A: Thats right. And the settlement between the banks for the amount paid by the issuing bank is carried out through their nostro and vostro accounts. B: Oh, I see. The advantage of a credit to the seller as you mentioned is self-evidenthe knows that he will receive the paymen

28、t provided he complies with its terms, then are there any benefits to us? A: Yes. Because the payment will only be made by the advising bank when the exact documents specified have been receivedas these are the documents of tide, then once they are in hands of the paying bank, it will only be a matt

29、er of time before they come to your hands, allowing you to collect the goods. B: Oh, thank you so much. Now I have a clear idea about L/C. Tomorrow I will go to your bank and open it. Thank you again. See you tomorrow. A: OK. Great, you are welcome. See you tomorrow. B Letter of Credit/B A letter of

30、 credit is a financial instrument issued by a bank on behalf of one of its customers, which authorizes an individual or business firm to which it is addressed to draw drafts on the hank for its account under certain conditions as set forth in the document. In a letter of credit, the financial streng

31、th or credit of the bank is substituted for that of the banks customers simply because the credit of the hank may be more substantial and more widely known. Another reason for heavy reliance on the letter of credit is that it is a desirable way of establishing certain quality standards or classifica

32、tions that the goods must meet. Finally, it permits the seller to receive almost immediate payment for his goods, as soon as they are shipped; as a result, the cost to the importer is less than if the seller had to wait for payment for an extended period. Irrevocable letters of credit are used in in

33、ternational finance and, as the name implies, cannot be changed without the consent of all parties concerned. Risks are numerous in international trade: accidents at sea, strikes, riots, and civil commotions in port cities, all of which can cause damage to ships and their cargo. Typically many docum

34、ents are necessary to comply with in an international transaction, and these must be specified in an application for a letter of credit. Several copies of a commercial invoice are needed for office use, and customs invoices are required before some goods can be brought into this country. Probably th

35、e most important document stipulated in an application for a letter of credit is the negotiable on- beard ocean bill of lading. This document is a receipt that the cargo was received and was loaded on board a ship. Whoever holds the on-board ocean bill of lading has the title to the goods. Therefore

36、, the bank must have this document before payment is made. After an importer has completed arrangements for the issuance of a letter of credit by the bank, the bank is instructed to deliver the letter of credit to the beneficiary. After receipt of the letter of credit, the foreign exporter arranges

37、for the shipment of the goods to the importer in accordance with the terms of the letter of credit. When the exporter has prepared all documents required and delivered the goods to the ship, the documents are then attached to a draft and submitted to the exporters bank along with the letter of credi

38、t. If the documents are in order, the bank then negotiates the draft and forwards the documents to the bank in the importers country. Several procedures could be employed in transferring the funds to exporters bank. The importers bank could merely credit funds to the exporting banks account if the f

39、oreign bank carried a correspondent account with the bank in the importers country. Banks that issue L/C may be paid in casha simple transfer from the customers account to the bank. If, however the importer does not have all or a part of the funds, he must negotiate a loan from the bank. This loan c

40、ould be unsecured assuming the borrower has sufficient credit worthiness, or it could be secured by the goods just imported. If these goods are ready for sell, they could be released to the importer on a trust receipt. As they are sold, the loan is repaid, or they might be placed in a warehouse, wit

41、h the warehouse receipts serving as collateral for the loan. Whatever the arrangement, the importer receives the order bill of lading which gives him title to the goods. If the goods were to be, used in further manufacturing, a different kind of loan might be made with a longer maturity.(2).What is

42、the safest way of securing settlement for exporter?（分数：2.00）填空项 1:_ （正确答案：L/C）解析：(3).Which company does Mr. Yang come from?（分数：2.00）填空项 1:_ （正确答案：Southeast Computer Ltd.）解析：(4).How many parties are involved in it? And name 3 of them.（分数：2.00）填空项 1:_ （正确答案：Five.）解析：an applicant a beneficiary an issui

43、ng bank an advising/confirming bank a paying/accepting bank(5).Before issuing a credit, what must the bank make certain?（分数：2.00）填空项 1:_ （正确答案：The bank must make certain of its customers creditworthiness.）解析：(6).Will the paying bank send the documents to the issuing bank or to the buyer?（分数：2.00）填空项

44、 1:_ （正确答案：To the issuing bank）解析：(7).What is the most important document stipulated in an application for L/C?（分数：2.00）填空项 1:_ （正确答案：The bill of lading）解析：(8).Can the issuing bank be paid in cash?（分数：2.00）填空项 1:_ （正确答案：Yes）解析：(9).Can a loan be secured by the goods which is just imported?（分数：2.00）填空

45、项 1:_ （正确答案：Yes）解析：(10).What gives the receiver the title to the goods?（分数：2.00）填空项 1:_ （正确答案：The ruder bill of lading）解析：二、BSECTION TWO (Co(总题数：12，分数：24.00)1.The Land Fund is now managed by the HKMA under the direction of the Financial Secretary as a combined portfolio with the Exchange Fund.（分数：2.00）A.正确B.错误 解析：Correction: The Land Fund is now managed by the HKMA under the directio