现代金融业务(综合)-6及答案解析.doc

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1、现代金融业务(综合)-6 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 mar

2、ked 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line through the center.（分数：5.00）A.Current accounts are greatly different from sight deposits.B.Current accounts can be withdrawn through dispensers.C.Current accounts can not b

3、e withdrawn through cheque.D.Sight deposits can not be withdrawn through cheque.A.The cardholder has to pay the bill in full within a grace period without interest.B.The cardholder can choose to pay the bill in full within a grace period without interest.C.The cardholder can choose to pay the bill i

4、n full and interest within a grace period.D.The cardholder has to pay the bill in full and interest within a grace period.A.You need to pay ten dollars to open a new account.B.You can open a new account to get ten dollars.C.Bank will charge you ten dollars for your new account.D.You can open a new a

5、ccount by depositing ten dollars.A.Banks with global operations are also referred to as national corporations.B.Both the banks and non-financial corporations have the same desire to make profit.C.Managers of non-financial corporations have no profit motives.D.Non-financial corporations are multinati

6、onal and operate globally.A.tinder straight L/C, the paying bank has recourse to the beneficiary.B.Under negotiation L/C, the negotiating bank has no recourse to the beneficiary.C.Under straight L/C, the paying has to recourse to the beneficiary.D.Under negotiation L/C, the negotiating bank has reco

7、urse to the beneficiary.（分数：5.00）A.The collecting banker is the banker on whom the cheque is drawn.B.The paying banker is the banker on whom the cheque is drawn.C.The drawer banker is the banker on whom the cheque is drawn.D.The presenting banker is the banker on whom the cheque is drawn.A.To benefi

8、t, all the documents are to be combined with the credit.B.All the documents are to be made by the beneficiary for the credit.C.All the documents are to be made in conformity with the terms and conditions of the credit.D.The beneficiary will make the documents combined with the terms and conditions o

9、f the credit.A.Bank will reject the crossed check.B.It is not advisable to hold a crossed check.C.You can only have a crossed check paid to your account.D.A crossed check is not a good check, not illegal though.A.The application form should only be signed by the customer.B.The application form could

10、 be signed by a customer or by his authorized agent.C.The application form should be signed by the bank.D.The application form should only be signed by his authorized agent.A.The issuing bank of an L/C is a bank in the exporters country.B.The issuing bank establishes an L/C in favor of the exporter.

11、C.The issuing bank of an L/C is a bank in the importers country.D.The bank that opens the letter of credit on behalf of the importer is the advising bank.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 wi

12、ll 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 the best answer. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.（分数：5.00）A.In

13、 order to avoid problems arising from fluctuations of exchange rate.B.In order to get more money.C.In order to use the money as soon as possible.D.In order to overdraw the money.A.Immediate payment.B.Deferred payment.C.Invoice.D.US $1,000.A.Cashiers.B.Savings certificate.C.Cash letters of credit.D.C

14、ertified cheeks.A.Interbank lending.B.Cheek clearance.C.Electronic fund transfer.D.Borrowing ability.A.The banks base rate is fixed.B.The rate on demand deposits is low.C.The rate on demand deposits is high.D.The banks base rate is floating.（分数：5.00）A.Because of the prudence concept.B.Because of the

15、 materiality concept.C.Because of the matching principle.D.Because of the Dual Aspects Concept.A.Canadian dollars.B.British Pounds.C.U.S. dollars.D.H.K. dollars.A.How to present the bill for payment.B.The presentation of bills for payment.C.The solution to the injured drawer.D.The payment of the che

16、que.A.On every business day.B.On Tuesday.C.On Wednesday.D.On the following business day.A.The sales slips are not important.B.The sales slips show the amount of the sale.C.The sales slips perform important functions in the bankcard transactions.D.The sales slips contain the details of the card.三、BSe

17、ction 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, 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,

18、 C and D. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.BPassage One/B（分数：3.00）A.It means that at any time you can buy currency of one country for another currency.B.It means that the actual and variable amount of one currency can be bought for a fixed

19、sum in another currency at any given time.C.It means that any kind of currency can be bought at any time for another currency.D.It means that the actual and fixed amount of the currency of one country at any time can be bought for a variable sum in the currency of another currency.A.Two days from th

20、e dealing date.B.2 days after the dealing dateC.On the 2nd business day from the dealing dateD.2 days before value dateA.Oct. 10thB.Oct. 11thC.Oct. 12thD.Oct. 13thBPassage Two/B（分数：4.00）(1).How often do the FOMC members typically put their heads together?（分数：1.00）A.twice annuallyB.4 times annuallyC.

21、6 times annuallyD.8 times annually(2).What is the purpose of the FOMC meeting?（分数：1.00）A.Making decisions on investment portfolio of the FRB.B.Making decisions on monetary policy.C.Making decisions on fiscal policy.D.Making decisions on exchange rate of U. S. dollar.(3).Which of the followings prese

22、nts the forecasts of the U.S. economy?（分数：1.00）A.“Blue Book“B.“Green Book“C.“Beige Book“D.“White Book“(4).Who determined the actual level of federal funds rate?（分数：1.00）A.The Fed.B.Market forces. C. The FOMC.D.none of the above.BPassage Three/B（分数：3.00）A.Intrinsic value and time value.B.Internal val

23、ue and external value.C.Exchange value and time value.D.Real value and stated value.A.When the spot price is lower than the option exercise price.B.When the option exercise price is higher than the spot price.C.When the spot price is higher than the option exercise price.D.When the option strike pri

24、ce is higher than the spot price.A.It is said to be “out-of-the-money“.B.It is said to be “at-the-money“.C.It is said to be “unprofitable“.D.It is said to be “in-the-money“.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

25、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.Passage 1The forward market also provides facilities for forwar

26、d currency transactions. This is a means of enabling the importer or exporter to agree a rate of exchange, now, at which a foreign currency will be exchanged for sterling at a future date, usually one, two, three or six months ahead but sometimes one or two years. This rate is fixed regardless of wh

27、at might have happened to the rate of exchange in the meantime and is particularly useful in an era of floating, and potentially volatile, exchange rates. If, for example, a British importer of US machines which cost $ 3,000 each has to pay in one months time he may prefer to buy the currency now fo

28、r actual delivery in one months time. With a current rate of $2.00 to the 1 pound the one month rate may be at a two cent premium ($1.98) or 2 cents dearer than the spot rate. These purchases will therefore cost the importer an additional 15 but at least he knows exactly how much it will cost him wh

29、atever happens to exchange rates. If the pound had been devalued or floating down during the month the cost could have horn a lot more than 15.Theoretically there are two alternatives to buying forward:1) To buy $3,000 now at the spot rate, pay interest on any loan to pay for the purchase and invest

30、 the dollars for one month.2) Pay the spot rate in one months time whatever the rate might be.The facility to buy or sell a currency forward, therefore, enables the importer to fix a definite price which will not be affected by fluctuations in exchange rates.Forward exchange markets were temporarily

31、 disrupted in 1974 by the collapse of a West German bank which failed to meet its foreign currency obligations. As the foreign exchange markets depend so much on confidence, this collapse led to a temporary contraction in the forward market. However, it has now regained much of the ground lost, inde

32、ed in an era of floating rates the forward market is of even more importance to traders in insuring themselves against loss through exchange rate fluctuations.（分数：5.00）(1).How are the forward transactions made in the forward market?（分数：1.00）A.When the dealers see marginal differences in the rate of

33、exchange in different markets, they can buy the second currency in one market and selling in another.B.Most of the dealing in the foreign exchange market is to satisfy the immediate requirements of traders.C.The dealers can close a deal by agreeing the rate of exchange in the meantime in this market

34、 and then delivery of currency is specified to take place at a future date.D.The markets respond to the normal laws of supply and demand of currency.(2).Why would the British buyer in the example prefer to pay the additional 15?（分数：1.00）A.He can use the $ 3,000 for investment for one month.B.He can

35、be insured against loss through pound sterling devaluation or floating down during the month.C.Because the rate of these purchases is fixed whatever happens to exchange rates in the meantime.D.Both and .(3).What is the reason why the forward exchange markets were in chaos for a time in 1974?（分数：1.00

36、）A.The collapse of a West German bank.B.The dealers in the foreign exchange markets lacked confidence in their trading.C.A West German bank did not fulfill its foreign currency obligations and its collapse led to the disorder in the forward market.D.The exchange rate was worse at that time.(4).What

37、is the important function of“ the foreign exchange market mentioned in the passage?（分数：1.00）A.Its main function is to reduce the risk of fluctuating exchange rates or a change in the parity of currencies.B.The foreign exchange market can protect the traders against loss through exchange rate fluctua

38、tions.C.The foreign exchange market is the mechanism through which foreign currencies are traded.D.The important function of the foreign exchange market is to uniform the currency being traded and circulate the knowledge of price changes.(5).What does “the ground lost“ mean in the sentence “It has n

39、ow regained much of the ground lost“ ?（分数：1.00）A.A temporary contraction in the forward market.B.The loss caused by fluctuations in exchange rates.C.The temporary disruption in the forward market.D.The loss caused by currency devaluation.Passage 2A guarantee is defined in the Statute of Frauds 1677

40、as “a written promise made by one person to be collaterally answerable for the debt, default, or miscarriage of another“.There are therefore three parties involved in the guarantee situation, although only two are in a contractual relationship arising out of the guarantee document, the creditor and

41、the guarantor. The party who is owed the money, or whose rights are protected, is known as the creditor and the person owing him the money, or who is under an obligation to him, is called the principal debtor. The guarantor, or surety as he is sometimes called, therefore assumes a secondary liabilit

42、y and in effect says to the creditor: “if the principal debtor does not meet his liabilities to you, then I will“.There are similarities between a contract of guarantee and a contract of indemnity, but the difference is that an indemnifier assumes primary responsibility himself and in effect he says

43、 to the creditor “I will see that you are paid“. The distinction is important, for whereas a guarantee to be enforceable must be evidenced in writing according to the Statute of Frauds 1677, this is not the case with an indemnity and an indemnity given orally would be enforceable, although understan

44、dably it might be difficult to prove to a court that such a contract had been entered into.In point of fact, nearly all bank guarantee forms are drafted in such a way that not only do they constitute a contract of guarantee, but they are also an indemnity. The advantage of this is that it gives the

45、bank rights against the party signing, even though the bank might find itself with no fights which it could exercise against the principal debtor, for in such circumstances a contract of guarantee alone would be unenforceable. In other words, enforcement is not dependent on the efficacy of the Contr

46、act between the creditor and the principal debtor.Guarantees may be executed by hand or under seal, but if by hand they must be supported by consideration. The consideration usually given by a bank is of course the loan of money to the principal debtor, or the agreement to continue to allow borrowin

47、g facilities for a further period of time.（分数：5.00）(1)._ are the parties with contractual relationship derived from the guarantee document.（分数：1.00）A.The creditor, the debtor and the guarantorB.The guarantor and the debtorC.The guarantor and the creditorD.The debtor and the creditor(2).Under a guara

48、ntee contract, _.（分数：1.00）A.the guarantor assumes the primary liabilityB.the guarantor assumes the secondary liabilityC.the creditor assumes the primary liabilityD.the debtor assumes the secondary liability(3).The main difference between a contract of guarantee and a contract of indemnity is that _.

49、（分数：1.00）A.an indemnifier takes up primary liability to the creditorB.an indemnity must be evidenced in writingC.a guarantee can be given orally or in writingD.an indemnity would be unenforceable(4).Almost all bank guarantees are designed as not only a contract of guarantee, but also an indemnity so that _.（分数：1.00）A.the bank can always protect its right regardless of the efficacy of related loan agreementsB.the principal debtor would be liableC.the creditor may find the contract unenforceable agai