现代金融业务(综合)-12及答案解析.doc

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1、现代金融业务(综合)-12 及答案解析(总分：75.00，做题时间：90 分钟)一、Part One Listening(总题数：0，分数：0.00)二、Section One(总题数：1，分数：5.00)(1).A. Banks current base rates are higher than those on small deposits.B. Banks current base rates are lower than those on small deposits.C. Banks current base rates are not floating rates.D. Bank

2、s current base rates are usually floating rates.（分数：1.00）A.B.C.D.(2).A. Investors can cope with any problems they may meet.B. Investors cant cope with problems when they meet with difficulty.C. Investors can cope with some investment problems by confining their investments to those that involve only

3、 modest risk.D. Investors can cope with easy problems.（分数：1.00）A.B.C.D.(3).A. the income statement B. the balance sheetC. the financial statement D. the statement of cash flow（分数：1.00）A.B.C.D.(4).A. Each month the cardholder receives a statement and the amount of all the transactions.B. Each month t

4、he bank gives the cardholder a statement showing the total amount outstanding.C. Each month the bank gives the cardholder a statement showing the compound interest.D. Each month the bank gives the cardholder a statement showing any minimum amount that needs to be paid.（分数：1.00）A.B.C.D.(5).A. People

5、are discouraged to do business with a lower discount rate.B. People are encouraged to borrow more money if the discount rate is lowered.C. People are encouraged to borrow more money if the discount rate is raised.D. People are discouraged to borrow less money with a lower discount rate.（分数：1.00）A.B.

6、C.D.三、Section Two(总题数：1，分数：5.00)(1).A. The minimum deposit reserve. B. Adjusting the base interest rate.C. Regulating rediscounting. D. Open market operations.（分数：1.00）A.B.C.D.(2).A. 880 yen. B. 794 yen. C. 719 yen. D. 888 yen.（分数：1.00）A.B.C.D.(3).A. A bill of exchange with a 90-day maturity for $ 6

7、,075.00.B. A bill of exchange with a 60-day maturity for $ 6,075.00.C. A bill of exchange with a 90-day maturity for $ 6,750.00.D. A bill of exchange with a 60-day maturity for $ 6,750.00.（分数：1.00）A.B.C.D.(4).A. Cash. B. Sight deposit. C. Cash dispenser. D. Cheque.（分数：1.00）A.B.C.D.(5).A. To make inv

8、estment.B. To record data.C. To provide useful information.D. To understand some basic accounting principles.（分数：1.00）A.B.C.D.四、Section Three(总题数：0，分数：0.00)五、Passage One(总题数：1，分数：4.00)(1).A. A slight increase in prices. B. Rapid growth of economy.C. Decrease of workers salary. D. Soaring prices.（分数：

9、1.00）A.B.C.D.(2).A. Hyperinflation is just a passing phase in the economic development.B. People could benefit a lot from hyperinflation.C. Hyperinflation is used by a government to raise taxes.D. Hyperinflation may cause the downfall of a government.（分数：1.00）A.B.C.D.(3).A. Harmful. B. Negative. C.

10、Going back. D. Progressive.（分数：1.00）A.B.C.D.(4).A. The cause of hyperinflation.B. The dangers that hyperinflation brings to a country.C. The relationship between taxes and hyperinflation.D. The supply of money and hyperinflation.（分数：1.00）A.B.C.D.六、Passage Two(总题数：1，分数：3.00)(1).A. It consists of one

11、commercial credit and one standby credit.B. It consists of two entirely separate documentary credits.C. It consists of a credit and some commercial documents.D. It consists of a bill of exchange and a bill of lading.（分数：1.00）A.B.C.D.(2).A. When actual suppliers and ultimate buyers deal through a mid

12、dleman.B. When buyers and sellers agree to make settlement by means of letters of credit.C. When buyers dont agree to make payment on collection basis.D. When sellers insists on a documentary credit.（分数：1.00）A.B.C.D.(3).A. The ultimate buyer. B. The middleman.C. The issuing bank. D. The actual suppl

13、ier.（分数：1.00）A.B.C.D.七、Passage Three(总题数：1，分数：3.00)(1).A. A long-term interest rate. B. A long-term loan.C. A short-term interest rate. D. A short-term loan.（分数：1.00）A.B.C.D.(2).A. One night. B. One year. C. Three days. D. Three months.（分数：1.00）A.B.C.D.(3).A. The foreign banks. B. The locally incorp

14、orated banks.C. The government. D. Inhabitant in Hong Kong.（分数：1.00）A.B.C.D.八、Part Two Reading(总题数：0，分数：0.00)九、Section One(总题数：1，分数：5.00)Banking organizations are highly geared, much more than commercial or industrial companies. They have custody of large volume of monetary items, which makes them v

15、ulnerable to misappropriation and fraud. They therefore need to establish formal operating procedures, well defined limits for individual discretion rigorous system of internal control. Banking organizations engage in a large volume and variety of transactions. This necessarily requires complex acco

16、unting and internal control system and widespread use of electronic data processing. Banking organizations often assume significant commitments without any transfer of funds. These items may not involve accounting entries and consequently the failure to record such items may be difficult to detect.

17、And most importantly, the failure of a bank, unlike most commercial firms, affects more than the fortunes of its shareholders and creditors, and may destabilize the whole economy.Effective supervision of banking organizations is an essential component of a strong economic environment in that the ban

18、king system plays a central role in making payments and mobilizing and distributing savings. Strong and effective banking supervision provides a public good that may not be readily available in the marketplace. Along with effective macroeconomic policy, it is critical financial stability in any coun

19、try. While the cost of banking supervision is indeed high, the cost of poor supervision has proved to be even higher.For all these reasons, banks throughout the world are generally accorded a higher degree of official, supervision and regulation than other types of businesses. At the same time, bank

20、s are also provided with important elements of official protection. For example, the central bank usually acts as a lender of last resort to protect commercial banks against a temporary liquidity drain. This protection is an important component of the official safety net bank stopping the banking sy

21、stem. Another major aspect of that safety net takes the form of deposit insurance fund to guarantee bank depositors that they will get their money back in the event of a bank failure.（分数：5.00）(1).Why should banks need to establish formal operating procedures?A. The supervisory authorities require th

22、em to do so.B. The shareholders expect a reasonable return on their investment.C. The banks have to keep safe large volume of monetary items raised from all sources.D. The banks engage in a large volume and variety of transactions.（分数：1.00）A.B.C.D.(2).Which of the following requirements is NOT menti

23、oned in successfully dealing with large volume and variety of transactions?A. A large number of skillful staff and expertise.B. Effective internal control system.C. Complex accounting system.D. Widespread use of electronic data processing.（分数：1.00）A.B.C.D.(3).“Vulnerable to“ in Line 3 probably means

24、 _.A. subject to B. easy to be attacked byC. of great volume D. likely to damage（分数：1.00）A.B.C.D.(4).A high degree of official supervision and regulation on bank organizations are important because _.A. The governments of many countries want to control banksB. There are too many troubles in banking

25、sectorC. It is crucial to stabilize the financial sector and the whole economyD. The banks make much more deposit insurance fund（分数：1.00）A.B.C.D.(5).What is the main function of deposit insurance fund?A. To ensure that the banks have sufficient fund to finance other economic sectors.B. To protect th

26、e banks from all kinds of risks arising from their operation.C. To meet requirements of financial needs of the public.D. To pledge to depositors that their money is safe whenever a bank is insolvency.（分数：1.00）A.B.C.D.十、Section Two(总题数：5，分数：5.00)1._ measure the company s ability to meet short-term ob

27、ligations through the cash conversion cycle.A. Activity ratio B. Liquidity ratio C. Leverage ratio D. Profitability ratio（分数：1.00）A.B.C.D.2._ is a large loan, generally more than USD10 million, negotiated between a borrower and a single bank, but actually funded by a number of banks.A. A project loa

28、n B. A syndicated loan C. An export credit D. Consumer credit（分数：1.00）A.B.C.D.3._ are essentially involved to a cheque.A. Drawer, drawee, and payer B. Holder, drawer, and payerC. Payee, drawer, and drawee D. Payee, drawee, and holder（分数：1.00）A.B.C.D.4.Customers trading abroad in foreign currencies m

29、ay protect against the exchange risk by arranging _.A. a contract of international sale of goodsB. a contract of marine insuranceC. a forward contract to fix the exchange rate in advanceD. contract for the delivery of goods by installments（分数：1.00）A.B.C.D.5.A credit may be advised to a beneficiary t

30、hrough another bank (the advising bank) without engagement on the part of the advising bank, but that bank, if it elects to advise the credit, shall _.A. inform the issuing bank of the credit which it advises without delayB. endorse the amount negotiated on the reverse of the credit which it advises

31、C. add his confirmation to the credit which it advisesD. take reasonable care to check the apparent authenticity of the credit which it advises（分数：1.00）A.B.C.D.十一、Section Three(总题数：0，分数：0.00)十二、Passage One(总题数：1，分数：5.00)Insurance policies usually contain a (56) clause that excludes a fixed amount of

32、 the loss from (57) Casualty insurance policies frequently contain a coinsurance clause in the contract. A coinsurance clause provides that the insurance company shall be liable (58) only a portion of any loss (59) by the insured unless the insured carries insurance which totals a certain percent, f

33、requently 80-90 percent of the fair value of the asset. In the (60) of a loss, the insured recovers from the insurance company that portion of the loss which the face of the insurance policy bears to the amount of insurance that should be carried as required by the coinsurance clause.（分数：5.00）(1).A.

34、 deductible B. exemptible C. expectable D. escapable（分数：1.00）A.B.C.D.(2).A. gain B. income C. recovery D. expense（分数：1.00）A.B.C.D.(3).A. to B. with C. in D. for（分数：1.00）A.B.C.D.(4).A. sustained B. supported C. tolerated D. maintained（分数：1.00）A.B.C.D.(5).A. light B. teeth C. event D. pay（分数：1.00）A.B.

35、C.D.十三、Passage Two(总题数：1，分数：5.00)Commercial paper may either be dealer placed or directly placed. If it is dealer placed, the (61) sells its promissory notes to one of the ten-regular commercial paper dealers, which, in turn, sells it to others. If commercial paper is directly placed, the issuing co

36、rporation sells its notes directly in the market, without the intermediation of the (62) . This is the method used primarily by sales-finance companies because they (63) in the market on a virtually continuous basis. Sales-finance companies are companies that supply the credit for the installment pu

37、rchase of major (64) items, for example, automobiles, refrigerators, and television sets. These companies find the commercial paper (65) particularly well suited to their needs since it enables them to adjust to swings in demand for installment purchases.（分数：5.00）(1).A. issuing corporation B. seller

38、 C. dealer D. issuing bank（分数：1.00）A.B.C.D.(2).A. merchant B. company C. middleman dealer D. bank（分数：1.00）A.B.C.D.(3).A. sell B. participate C. supply D. issue（分数：1.00）A.B.C.D.(4).A. capital B. imported C. exported D. consumer（分数：1.00）A.B.C.D.(5).A. notes B. market C. dealers D. issuers（分数：1.00）A.B.

39、C.D.十四、Section Four(总题数：0，分数：0.00)十五、Passage One(总题数：1，分数：4.00)Commercial banks that supply services to other commercial banks are called correspondent banks. The correspondent banks are paid indirectly, in the form of income from deposit balances maintained by its bank customers, as well as by dire

40、ct money payments. Small banks may have 5 or 6 correspondent banks, which provide many services: bookkeeping services (especially those that require large computers); assistance in the sale or purchase of assets (including the consolidation of purchases with other buyers); and the provision of infor

41、mation about capital markets (including the sale of equity shares in their banks). Large banks may have as many as 30 correspondent banks that provide services and representation in other localities (including foreign countries) and specialized services that the correspondents can offer at a smaller

42、 cost.Until 1981 the Federal Reserve had provided free check-clearing facilities to its members, but nonmember banks relied entirely on correspondent banks to clear their checks. The correspondent banks often clear nonmember banks checks through the Federal Reserve. In 1979, the Federal Reserve clea

43、red 32 billion checks, totaling $ 35 trillion. The total amount of cheeks debited against all insured banks in October 1982 was $ 93.5 trillion, of which 42 percent was from New York banks. Private clearing houses owned by groups of banks handled a large amount and so did the Federal Reserve, which

44、began charging for that service.（分数：4.00）(1).The correspondent bank can only make money for its services to other banks from deposit balances maintained by bank customers.A. Right B. Wrong C. Doesnt say（分数：1.00）A.B.C.(2).A correspondent bank may supply the following services to other commercial bank

45、s:A. keeping accountsB. assisting in the sale or purchase of assetsC. providing information about capital marketsA. Right B. Wrong C. Doesnt say（分数：1.00）A.B.C.(3).The Federal Reserve has been providing free check-clearing facilities to all the banks.A. Right B. Wrong C. Doesnt say（分数：1.00）A.B.C.(4).

46、The amount of checks debited against New York banks in October 1982 was 39.27 trillion, which was 42% of the aggregate amount of checks of all the insured banks that month.A. Right B. Wrong C. Doesnt say（分数：1.00）A.B.C.十六、Passage Two(总题数：1，分数：3.00)A major type of risk that banks face is credit risk o

47、r the failure of a counter-party to perform according to a contractual arrangement. This risk applies not only to loans but also to other on-and-off balance sheet exposures such as guarantees, acceptances and securities investments. Serious banking problems have arisen from the failure of banks to r

48、ecognize impaired assets, to create reserves for writing off these assets, and to suspend recognition of interest income when appropriate.（分数：3.00）(1).“Balance Sheet“ means the statement on which a banks assets and liabilities are listed.A. Right B. Wrong C. Doesnt say（分数：1.00）A.B.C.(2).The word “ex

49、posures“ in this paragraph can be understood as “risks“.A. Right B. Wrong C. Doesnt say（分数：1.00）A.B.C.(3).Reserves for writing off impaired assets are unnecessary.A. Right B. Wrong C. Doesnt say（分数：1.00）A.B.C.十七、Passage Three(总题数：1，分数：3.00)Foreign exchange is by definition foreign to the holder; otherwise, it would be domestic exchange or in modem practice, local currency and legal tender. Foreign exchange typically is not legal tender and is therefore not acceptable in exchange for goods and services to whom it is being offered; hence, the d