2015现代金融业务(综合)专家预测试卷

  Describe the procedure of direct bonds according to the numbers given in the following charter. Write your answer on the ANSWER SHEET.

  Write a bank letter according to the following requirements. Write your answer on the ANSWER SHEET.

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  并要求通行受益人.

Foreign exchange includes various means of payments and assets denominated in a foreign currency that can be used for international settlement.

Common stock is paid in capital, which is regarded as the permanent capital of the business because it is not subject to withdrawal by the shareholders.

Written policies and procedures governing municipal securities activities should be maintained by state member banks engaged in these activities.

The management of the company is to raise ______.

• A．the value of the firm for the shareholders
• B．the asset of the firm for the debtors
• C．the liquidity assets for the debtors
• D．the stockholding plans for the employees

The important distinction between the external financial market and the domestic financial market lies in that Eurocurrency banking is not subject to domestic banking regulations.

According to the passage, the phrase " holding shares in street name" probably refers to ______.

• A．holding physically the stock certificates by the investors
• B．keeping electronic record of stock ownership by the brokerage
• C．depositing the stock certificate with the Wall Street bankers
• D．depositing the stock certificate with investment banks on the Wall Street

Being a shareholder of a public company means that ______.

• A．you have a say in the daily management of the company
• B．you become a member of the board of directors
• C．you have one vote per share to elect the board of directors
• D．you can air your view on how to run the company

The word "stake" in the first paragraph probably stands for ______.

• A．risk
• B．yield
• C．return
• D．all of the above

The word "acquire" in the first paragraph probably means "______".

• A．buy
• B．claim
• C．get known
• D．get together

What is the alternative name of the World Bank?

• A．International Bank for Reconstruction and Development.
• B．International Financial Corporation.
• C．International Development Association.
• D．International Settlement Bank.

It is important to note that ______.

• A．citizenship is less important than residency are the same thing from the viewpoint of the balance of payments statistics
• B．citizenship has a broader meaning than residency
• C．citizenship and residency are indeed the same thing from the viewpoint of the balance of payments statistics
• D．citizenship and residency are not necessarily the same thing from the viewpoint of the balance of payments statistics

Which of the following transaction is not included in Chinese balance of payments?

• A．Bond transaction with Citibank.
• B．Service transaction between local enterprise and Sino-foreign joint company incorporated in China.
• C．Capital inflow to Beijing subsidiary of Swiss multinationals.
• D．Loan from IMF.

Which of the following statement is true?

• A．Deficit may lead government to reduce interest rate.
• B．Deficit may lead government to raise expenditure on imports.
• C．Surplus may lead government to stimulate imports from foreign countries.
• D．Surplus may lead government to reduce expenditure on imports.

What is the balance of payments?

• A．The balance of payments is a digital table of all the economic transactions between residents of the reporting country and residents of the rest of the world during a given time period.
• B．The balance of payments is a figured table of all the economic transactions between residents of the reporting country and resident of the rest of the world during a given time period.
• C．The balance of payments is a statistical record of all the economic transactions between residents of the reporting country and residents of the rest of the world during a given time period.
• D．The balance of payment is a digital record of all the economic transactions between residents of the reporting country and residents of the test of the world during a given time period.

What can we learn from the third part of the passage?

• A．Time deposit accounts are not subject to the convention so that they can not be converted to cash before their maturity date.
• B．Commercial banks may impose a penalty fee on all kinds of accounts.
• C．People can get interest payment when they exchange their tired deposits for private bonds.
• D．Banks may refuse to transfer a time deposit into a savings deposit.

Which of the following is not mentioned in the passage?

• A．CDs are a kind of consumer time deposits.
• B．All the consumer or personal time deposits are non-negotiable.
• C．No money interest is paid on personal time deposits.
• D．The interest yields of consumer CDs are closer to market interest rates.

Into what kind of account can a savings deposit be transferred at the same bank?

• A．A time deposit account of the depositor.
• B．A demand deposit account of the depositor.
• C．A NOW account of the depositor.
• D．A fixed time account of the depositor.

How do people draw money with a commercial bank against a NOW account?

• A．By a bank check.
• B．By a demand.
• C．By a negotiable order of withdrawal.
• D．By a draft.

Organization costs must be amortized into expenses within 5 years.

• A．Right
• B．Wrong
• C．Doesn't say

Organization costs is listed in income statement.

• A．Right
• B．Wrong
• C．Doesn't say

Which of the following is excluded from the commercial bank deposits?

• A．Demand deposits.
• B．Time deposits.
• C．Checking accounts.
• D．Treasury bills.

It is an institution affiliated party who engages in misconduct that should be responsible consequences of his or her misconduct.

• A．Right
• B．Wrong
• C．Doesn't say

Organization costs are belong to assets.

• A．Right
• B．Wrong
• C．Doesn't say

A state member bank should not pay a fine or other final judgment issued against an institution-affiliated party for misconduct.

• A．Right
• B．Wrong
• C．Doesn't say

If any government imposes exchange control on the repatriation of profits, there will be sovereign risk.

• A．Right
• B．Wrong
• C．Doesn't say

The federal law and the FDIC's regulations have the same power of financial supervision.

• A．Right
• B．Wrong
• C．Doesn't say

The payments for either spot transactions or forward transactions must be made by transferring deposits.

• A．Right
• B．Wrong
• C．Doesn't say

As financial intermediaries, banks can make the maturities of forward contracts infinitely long if their customers expect.

• A．Right
• B．Wrong
• C．Doesn't say

A great number of forward contracts are made directly between people who take part in the foreign exchange markets.

• A．Right
• B．Wrong
• C．Doesn't say

(50)

• A．notes
• B．market
• C．dealers
• D．issuers

(49)

• A．capital
• B．imported
• C．exported
• D．consumer

(48)

• A．sell
• B．participate
• C．supply
• D．issue

(47)

• A．merchant
• B．company
• C．middleman dealer
• D．bank

(45)

• A．light
• B．teeth
• C．event
• D．pay

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 corporation 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 purchase 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.

(46)

• A．issuing corporation
• B．seller
• C．dealer
• D．issuing bank

(44)

• A．sustained
• B．supported
• C．tolerated
• D．maintained

(43)

• A．to
• B．with
• C．in
• D．for

(42)

• A．gain
• B．income
• C．recovery
• D．expense

Insurance policies usually contain a (56) clause that excludes a fixed amount of 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, frequently 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.

(41)

• A．deductible
• B．exemptible
• C．expectable
• D．escapable

Interest on a bank overdraft will be charged to a firm's ______.

• A．balance sheet
• B．profit and loss account
• C．current account
• D．deposit account

The main objective of the Exchange Equalization Account is to ______.

• A．prevent undue fluctuation in the exchange value of sterling against other currencies
• B．ensure that notes and coins continue to be acceptable as a medium of exchange
• C．control the rate of inflation
• D．permit the exchange of payments between banks

If the IMF members' borrowing needs are larger than its forward commitment capacity, the IMF will ______.

• A．call for new quotas from its members
• B．call for New Arrangements to Borrow
• C．sell gold to finance excessive needs
• D．do repos

A bond with an adjustable interest payment is termed ______.

• A．a fixed-rate bond
• B．a floating-rate bond
• C．a blue-chip bond
• D．a junk bond

Treasury bills are issued ______.

• A．by the government to raise funds from the community
• B．with terms of 3 months, 6 months, 9 months and 1 year
• C．with coupons attached to them
• D．with a price higher than the face value

A documentary credit is received without a stipulation of whether partial shipments are allowed. Which of the following statements is applicable?

• A．They are allowed.
• B．Refer to the issuing bank.
• C．Refer to the beneficiary.
• D．They are prohibited.

In a letter of credit transaction, the bank pays the seller against ______ which agree (s) with ______.

• A．documents... the credit
• B．merchandise... the contract
• C．documents... the contract
• D．merchandise... the buyer ordered

Regulation of the money supply and financial markets is referred to as ______.

• A．fiscal policy
• B．income policy
• C．monetary policy
• D．budgetary, policy

Which of the following statements is false about zero-coupon bonds?

• A．They will make a single cash payment at maturity.
• B．They are issued at a discount.
• C．They will make one single coupon payment at maturity.
• D．all of the above.

What is a documentary letter of credit?

• A．A conditional bank undertaking to pay an exporter on production of stipulated documentation.
• B．A method of lending against documentary security.
• C．An international trade settlement system biased in favor of importers.
• D．All of the above.

(29)

• A．By paying or accepting the bill of exchange.
• B．By paying in cash.
• C．By opening a letter of credit.
• D．By showing the bill of lading.

(30)

• A．the exporter
• B．the importer
• C．the exporter's bank
• D．the importer's bank

(28)

• A．Dollar against Pound
• B．document against payment
• C．delivery after payment
• D．dollar in payment

听力原文：  The importer will require a full set of bills of lading in order to obtain the goods from overseas port. The bills of lading can only be obtained by payment of the bill of exchange (D/P) , or by acceptance (D/A). Therefore, the importer cannot obtain the goods without paying or accepting the bill of exchange, and conversely an exporter retains control of the goods until payment or acceptance of bill of exchange. When goods are sent by air, the airway bill could show the importer's bank as consignee. Once again the importer must pay or accept a bill of exchange to be able to obtain the goods. Once the importer has paid or accepted the bill of exchange, the importer's bank will issue a delivery order. The delivery order is an authority, signed on behalf of the bank, authorizing the airport to release the goods to the named importer.

27. What will the importer require to obtain the goods from oversea port?

28.What's the meaning of D/P?

29.How can he importer obtain the goods ?

30.When goods are sent by air, who can issue a delivery order to release the goods?

(27)

• A．bill of lading
• B．documentary letter
• C．letter of credit
• D．insurance document

听力原文：  Banker's acceptances often arise in foreign trade. A business buying goods from abroad where it is not well known and does not have other credit arrangements will first obtain a letter of credit from its own bank. The letter will authorize the foreign seller to draw a draft on the company's bank. A draft, or bill of exchange, as it is sometimes called, is a debt instrument. It can be made payable on sight, that is, upon presentation, payable upon arrival of merchandise, or payable in a fixed number of days. A draft can be made payable in, say, 30 days after it is presented to the bank against which it is drawn. This draft can be discounted at the seller's bank so that the seller receives immediate payment.

24. What gives rise to the bankers' acceptance?

25.In how many days can a draft be made payable after it is presented to the bank against which it is drawn?

26.How can the seller receive immediate payment if the draft is made payable on a future date?

(24)

• A．The money markets.
• B．The banks.
• C．The international trade.
• D．The buying of goods in the markets.

(25)

• A．13 days
• B．30 days
• C．33 days
• D．23 days

(26)

• A．He can send the draft to the correspondent bank for immediate payment.
• B．He can present it to the bank against which it is drawn for payment.
• C．He can ask the buyer to pay the money.
• D．He can discount the draft at his bank and get money immediately.

(22)

• A．The issuing bank will charge a fee for giving a standby credit letter.
• B．The issuing bank will charge no fees for giving a standby credit letter.
• C．The issuing bank will amend the standby credit letter if appropriate.
• D．The issuing bank will revoke the standby credit letter if appropriate.

(23)

• A．The service fee is about 1 percent of the amount of credit involved.
• B．It's almost impossible for the issuer to honor the payment after analyzing the financial condition of the customer.
• C．The issuing banks must carry reserve requirements for the guarantee.
• D．The issuer of the credit guarantee will never be called upon to make payment.

短文理解

听力原文：  A standby credit letter (SCL) is a contingent obligation of the letter's issuer. The issuing bank agrees to guarantee the credit of its customer or to guarantee the fulfillment of a contract made by its customer with a third party. The issuing bank earns a fee from providing the service of SCL. In general, the fee is relatively low and usually around 0.5 percent to 1 percent of the amount of credit involved due to the following reasons. On the one hand, the issuing bank may have previously analyzed the financial condition of its standby credit customer, and the probability is low that the issuer of the credit guarantee will ever be called upon to pay. On the other hand, the issuing banks carry zero reserve requirements and avoid the booking of additional assets, which would also require each bank to acquire more capital.

21. Is SCL same as revocable letter of credit according to the passage?

22.What will the issuing bank do for a standby credit letter?

23.Why is the service fee of SCL relatively low?

(21)

• A．almost the same one
• B．rather different
• C．a little different
• D．doesn't mention

听力原文：W: It is said that there are some check authorization systems currently in use.

M: But they are cumbersome relative to the computerized credit card validation systems.

Q: What does the man think of the check authorization systems?

(20)

• A．They are convenient.
• B．They are advanced in technology.
• C．They are cumbersome.
• D．They are computerized.

听力原文：M: As a means of international settlement, what is the main role of a credit card?

W: Its main role is to transfer the payment obligation from payer to bank. It makes the payment safer for the exporter with the bank' s credit and guarantee, and simultaneously makes the supply of goods safer for the importer.

Q: What is the main role of a letter of credit?

(19)

• A．It is to transfer the contract from bank to customer.
• B．It is to transfer the payment obligation from buyer to seller through banks.
• C．It is to transfer the confirmation from the issuing bank to confirming bank.
• D．It is to transfer the documents from advising bank to issuing bank.

听力原文：M: Good morning! I've lost my traveler's cheques. I wonder if you could get in touch with the issuing bank to claim refund for me.

W: Don't worry, Sir. But I need some detailed information before I contact your issuing bank.

Q: What did the man lost?

(17)

• A．Credit card.
• B．Passport.
• C．Traveler's cheques.
• D．Ｉ.Ｄ.card.

听力原文：M: If a customer lost his draft, will the bank still pay the draft to him?

W: The drawee bank may investigate the title of the person who holds it. If he has a good title, the draft will be paid.

Q: What will the drawee bank do after being informed of loss of a draft?

(18)

• A．The drawee bank will refuse to pay the draft.
• B．The drawee bank will issue another draft to the customer.
• C．The drawee bank will investigate into the case first.
• D．The drawee bank will pay the draft immediately.

听力原文：M: So your division in the bank is to ensure that your customers receive payment for the goods they expect.

W: That's where we can help an exporter like your corporation. We often hear people say that exporting is easy, but to get paid is hard work.

Q: What is the relationship between the speakers?

(15)

• A．Husband and wife.
• B．Teacher and student.
• C．Banker and his customer.
• D．Employer and employee.

听力原文：M: The formal yardstick of performance of a business is the financial statements. They are issued at periodic intervals.

W: You are right. I find the comparison of financial statements between one year and the next, particularly helpful in understanding a company's performance.

Q: What are they talking about?

(16)

• A．The performance of a company.
• B．The financial statements.
• C．The detailed information.
• D．An extensive annual report.

听力原文：M: Time deposits are not allowed to be withdrawn without notice, is it?

W: Yes, but there is an exception. We can draw limited amount from a kind of time deposits called instant savings account at a time without giving any notice to the bank.

Q: What is the exception mentioned in the dialogue?

(13)

• A．Time deposit.
• B．Savings account.
• C．Current account.
• D．Instant savings account.

听力原文：M: What's the interest rate on mortgage loans?

W: It fluctuates a little depending on the various factors in the loan, but around 8.75% for long-time clients.

Q: What are they talking about?

(14)

• A．About long-term relationship between the banker and the client.
• B．About long-term loans.
• C．About housing loans.
• D．About short-term loans.

听力原文：M: Do I have to have an account here to cash a personal check?

W: Not if it's drawn on this branch.

Q: What will the man probably do?

(12)

• A．Have an account.
• B．Draw on this branch.
• C．Cash a check.
• D．Something personal.

对话理解

听力原文：W: Is it necessary for me to make a note of all my assets?

M: Yes, of course, thus you can work out what sort of investment suits you and over what time frame.

Q: Why should the woman make a note of all her assets?

(11)

• A．Thus she can know the most appropriate investment and the best time of investment.
• B．Thus she can earn a lot of money.
• C．Thus she can help others.
• D．Thus she can know about how much money she has.

听力原文：A revolving documentary credit in relation to value involves the buyer and the banks in an incalculable liability.

(8)

• A．The banks have an incalculable liability under the documentary credit revolving in value.
• B．The banks prefer to issue the documentary credit revolving in value.
• C．The buyer has less liability under the documentary credit revolving in value.
• D．The banks are involved in less liability by issuing the documentary credit revolving in value.

听力原文：We found that the documents we received did not comply with the requirements.

(10)

• A．We paid you early as required.
• B．Your documents came to us as required.
• C．Your documents have been correctly presented as required.
• D．You did not present the documents as required.

听力原文：Future contracts have to be standardized, or floor trading would be slowed down considerably as brokers would have to assess contract specifications.

(9)

• A．If future contracts are standardized, brokers would not assess contract specifications.
• B．As long as future contracts are standardized, floor trading would be made slow accordingly for brokers to evaluate contract specifications.
• C．Whether future contracts are standardized or not, floor trading will not be influenced.
• D．Futures contracts must be standardized, otherwise, floor trading would be made very slowly since specifications of each contract would be assessed.

听力原文：Cash dividends are paid to each shareholder based on the number of shares that a shareholder owns.

(7)

• A．If a shareholder owns more shares, he can receive more cash dividends.
• B．Cash dividends are paid to each shareholder on the date of declaration.
• C．The number of shares has little impact on cash dividends paid to each shareholder.
• D．Cash dividends will be paid from the proceeds of the share issuance.

听力原文：They will write to their home office to waive their claim.

(6)

• A．They will write to their home.
• B．They will write to their headquarter.
• C．They will ask for their rights.
• D．They will wait for an officer.

听力原文：The bank must consider carefully whether the loan is to be used in any illegal activity or for speculative purpose.

(4)

• A．The bank must take the purpose of loan into consideration carefully.
• B．The bank wonders if the loan is used for illegal or speculative purpose.
• C．The bank worries that the loan is used for illegal or speculative purpose.
• D．The bank must consider a way for the loan to be used for speculative purpose.

听力原文：Historically, when the Fed lowers the discount rate, stock prices tend to rise; when the Fed raises the discount rate, stock prices are likely to move downward.

(5)

• A．The discount rate and the stock prices move in the same direction.
• B．The discount rate and the stock prices move in the adverse directions.
• C．When the Fed raises stock prices, the discount rate is likely to move downward.
• D．When the Fed lowers stock prices, the discount rate tends to rise.

听力原文：I'm afraid there isn't enough money in your account to cover the cheque you wrote for your new car.

(3)

• A．The amount on the cheque is larger than in the account.
• B．The car can be covered with your cheque.
• C．The cheque you wrote can not cover the car.
• D．The amount on your cheque is just that in your account.

单句理解

听力原文：Although CDs cannot be withdrawn, they can be marketed, that is sold, at any time.

(1)

• A．People can draw the money on CDs whenever they want.
• B．People can sell their CDs in the money market whenever they want.
• C．A CD is a demand deposit as opposed to a term security.
• D．CDs don't have a specified maturity date.

听力原文：The bank of China is a state-owned enterprise and is a specialized foreign exchange bank of the People's Republic of China.

(2)

• A．The Bank of China is not a state-owned enterprise.
• B．The Bank of China is a foreign exchange bank.
• C．The Bank of China is not a foreign exchange bank.
• D．The Bank of China is not very important.