外贸英语知识最新考试内容.doc

1.Value is psychological on items rather than decided by the cost or time human spent in producing them.A. prediction B. measurement C. estimate D. evaluation2.In the complex economic world，no country can be completely self-sufficient，the distribution of is unevenA. labor resources B. resources C. crude oil D. natural resources3. It must be noted that if there is no specific indication whether a credit is revocable or irrevocable，it should be regarded as .A. revocable B. invalid C. irrevocable D. inefficient4. Most of Chinas export contracts stipulate for draft in payment terms A. sight B/L B. usance B/L C. sight draft D. usance credit5. Obviously，a sight credit calls for a , usance credit requires a usance draftA. sight B/L B. term L/C C. sight draft D. sight credit6. As for the D/P at sight, the bank must pay the at the sight of the draft.A. bill B. bill of exchange C. commercial Invoice D. bill of lading7. Under the term of CIF, seller pays for the insurance, he is the of the buyer on this matter.A. beneficiary B. agent C. payer D. debtor8. As for as the confirmed credit is concerned, the confirmation is undertaken either by the bank or by another leading bank.A. negotiating B. confirmed C. major D. advising9. Transferring a credit to more than one party at the same time is allowed provided are permittedA. divisible L/C B. transferable L/C C. transshipment D. partial shipments10. Inflation can be divided into two types: excess demand(sometimes called demand-pull) inflation and inflation.A. cost support B. cost pull C. cost plus D. cost push 二11. Money has evolved from which has use value as well as value as a medium of exchangeto non-commodity moneywhich has little or no . Non-commodity money is cheap to produce and use, while commodity money involves a high cost because its non-monetary value is . Since non-commodity money is so easy to produce, there is always a danger that is will be . 12. Changes in the money supply or its rate of growth influence such economic as the unemployment rate, , , and stock market fluctuation.13. A lot of international transactions are paid for by means of the draft，which，also referred to as the bill of exchange，is an unconditional order to a _or a _ to pay a sum of money to someone on demand or at a fixed time in the futureThe person who draws the draft，usually the exporter，is called the _, and the person to whom the draft is drawn is called the _. There is yet another party the _,who and the drawer are generally but not necessarily the same person，as the drawer can instruct the drawee either to pay “to the order of ourselves” or to the order of someone else, for instance，the bank.14. Based on the cost of a fixed basket of approximately 400 goods and services, including food, fuel, clothing, education, , , and , CPI can be used to measure , Obviously, some items are much more important elements of consumer spending than others, therefore, different must be assigned to each of the goods and services contained in the market basket.15. If the beneficiary wishes to get payment before the maturity of the draft he can ask the bank to the acceptance，and immediately pay him the ，iethe face value of the draft minus the discount charges.三16，人民币对内升值或贬值，对外也会升值或贬值; 反之亦然。16. Answer: The appreciation or depreciation of RMB in the domestic market will accordingly lead to the appreciation or depreciation of RMB in the foreign exchange market, and vice versa.17. 格雷欣定理最通俗的说法是：劣币驱逐良币。17. The most common statement of Greshams law is “Bad money drives good money out of circulation.” 18. 装运口岸和目的地:从中国港口到新加坡，允许转船和分批装运。18. Loading Port Destination：From China Ports to Singapore，transshipment partial shipments allowed.19. 付款条件: 买方须于2010年12月30日前将保兑的、不可撤销的、可转让可分割的即期信用证开到卖方。信用证议付有效期至上列装运期后二十天在中国到期。19. Terms of Payment：By Confirmed，Irrevocable，Transferable，and Divisible Letter of Credit to be available by sight draft to reach the Sellers before December 30，2010 and to remain valid for negotiation in China until the 20th day after the aforesaid Time of Shipment20.价值和价格是一张张的两面，你不能撕开一面而保持另一面不被撕开。20. Value and price are the two sides of one same paper; you cant tear one side of the paper yet without the other side unbroken.四21. Can draft be used to pay the draft? Why?21. Answer: Yes, the former is a bankers draft while the latter is a commercial draft.22. Whats the difference between GNP and GDP?22. Answer: The difference between GNP and GDP is that the former focus on ownership of the factors of production while the latter concentrates on the place where production takes place.23. What are the factors influencing the exchange rate? Please give at least five factors.23. Answer: BOP, inflation, interest, discount rate, Deposit Reserve Ratio, assets including housing and salary price, subsidies, debts level, etc.24. If one country occurs inflation, what change would happen to its foreign exchange rate?24. Answer: if the value of one countrys currency decreased in the domestic market because of inflation, it will surely lead to the accordingly depreciation of its value in the foreign exchange rate market.25. Under what situation the Usance credit would be used? 25. Answer: when the importer has no enough cash to pay the imported goods.五26. If the quantity of USD was printed 50% more than it needed, but the nominal Exchange Rate of China RMB remains USD1RMB6.4 unchanged, as for the situation, is the US dollar actually appreciated or depreciated against RMB? Why? Can you predict what would happen to chinas economy? Can you tell its characteristic and How to deal with it? ( 15)26. Answer: The US dollar is actually appreciated against RMB. Because the quantity of USD was printed 50% more than before, that will lead to the purchasing power of the USD actually decreasing, the real value of USD decreasing will accordingly lead to the devaluation of USD against RMB, so the real Exchange Rate should be stood at USD1RMB4.8; that is , the RMB should appreciate against USD, but the nominal Exchange Rate of RMB remains USD1RMB6.4 unchanged, the truth is, RMB should but did not appreciate against USD, so the BMB is actually depreciated against USD. Or we say the US dollar is actually appreciated against RMB. We can predict that the imported cost-push inflation would happen to China. The imported cost-push inflation is not a real inflation because it differs from a demand-pull inflation which is in the character of over-heated economy accompanied by excessive demanding. As for the imported cost-push inflation, the domestic price must readjustment itself to catch up with the prices of the international market both in the cost and the retail price. With the cost increasing, china retail price both in domestic and international market will increase, but the export price rising just as the domestic price rising will reduce the demanding as the salary of foreign country just like that of the domestic market have not been improved, so, the demanding both in domestic and foreign market will be decreasing. The best policy seems to stimulate the consumption instead of lowing down the prices.People will face a dilemma to deal with the stagflationthe price increasing and the consumption decreasing at the same time. Price increase will lower down the living standard, but raising salary would reinforce the inflation.27. In the case of D/A，documents are handed over to the importer upon his acceptance of the draft drawn by the exporter. Payment will not be made until a later date. If the importer failed to pay the draft long time after he sold the shipped goods, who should be responsible for the loss of the bank? How can the bank do to recover its loss? (15)27. Answer: The exporter should be responsible for the loss of the bank. Because it is the exporter who gave a special treatment of D/A to the importer and caused the loss of the bank. The bank can ask for reimbursement from the importer for the bank had done everything of its obligation.复习题1. The value of an item is a measure of what a person will to obtain it.A. loss B. abandon C. sacrifice D. give up2. PPI is formerly known as the “all-commodities” wholesale price index. Actually, it measures average changes in price received by domestic producers for their output. The producer price index is of general interest since it is often a of CPI.A. evaluation B. measurement C. precursor D. refection3. The functions of money include: medium of exchange, standard of value, standard of deferred payment, and store of value as well as a control function.A. economic B. creditors right C. microeconomic D. macroeconomic4. If the establishing bank is a reliable prime bank, confirmation may not be A. cheap B. easy C. used D. necessary 5. If a credit does not specify whether it is transferable，it should be regarded as a creditA. invalid B. useless C. transferable D. non-transferable 6. A credit can be transferred only A. three times B. twice C. once D. when it is necessary7. If a credit stipulated that its amount can be renewed or reinstated without specific amendment to the credit being made，it is then a creditA. circulation B. periodical C. revolving D. temporary8. What benefit is Sight credit for the exporter?Answer: Sight credit can speed up s capital turnover.A. importer B. all parties C. banker D. exporter 9. Import duties may be either specific, or , or a combination of the twocompound duties.A. complex B. quantitative C. compound D. advalorem10. As for the D/P at sight, the bank must pay the exporter at the sight of the draft, the documents mainly refers to as the .A. L/C B. Commercial Invoice C. bill of exchange D. bill of lading二11. , and are the three most frequently used terms in the international business contract. About them, there is one thing we should mention, the is always considered as the dividing line to divide whether the goods have been successfully delivered or not by the seller.12. Written negotiations often begin with made by the buyer, in response to an enquiry，a may be sent by the exporter which should include all the necessary information required by the enquiryThe is indispensable to a firm offerAn offer is considered open until after a stipulated time or until it is accepted or .counter-offer is a of the offerThe counter offer thus becomes a made by the original to the original 13.Major documents required in world trade are: , , , _ and certificate of quantity. 14. In the case of documents against payment(D/P)，documents will not be released to the until payment is effectedThere are D/P and D/P The former requires immediate payment by the importer to get hold of the documents. The latter gives the importer a certain period of time after presentation of the documents, but documents are released to him until he actually pays for the merchandise.15. Those factors that would influence the foreign exchange rate fluctuation would be: , , , financial policy, currency policy, and so on.三16. 凭不可撤销信用证见票后30天付款。16. Answer: By Irrevocable Credit at 30 days after sight17. 发盘一直是开放的直到过了有效期之后，或在被对方接受或拒绝之后。 17. Answer: An offer is considered open until after the validity period or until it is accepted or rejected.18. 滞胀是经济呆滞和通货膨胀同时发生。18. Answer: Staginflation is that economy Stagnation and inflation occur at the same time.19.保险：由卖方按发票金额的110投保一切险和战争险。19. Answer: Insurance: to be covered by the Sellers for 110% of the invoiced value against All Risks and War Risk.20. 数量及总值均得有5的增减，由卖方决定。20. Answer: With 5more or less both in amount and quantity allowed at the Sellers option五21. What are the three distinctive characteristics of MNEs?21. Answer: Enormous in size; wide geographical spread and longevity.22. What are the three major functions of the Bill of Lading?22. Answer: 1，a cargo receipt signed by the carrier and issued to the shipper or consignor；2 a contract of carriage between the carrier and the consignor；3a document of title to the goods23. What are the three basic risks for marine cargo insurance?Answer: FPA, WPA, AR24. The nominal exchange rate and the real exchange rate are actually different, how to judge whether one countrys nominal exchange rate is lower than its real value?24. Answer: Using Purchasing power parity to compare.25. Can we accept a L/C in which the date of shipment and the date o f LC expiry time are on the same day? Why? 25. Answer: Yes, we can. Because: the date of shipment is referred to as the latest date of the shipment but not the beginning time of the shipment, the exporter can choose to delivery the Goods earlier shortly after the contract is signed. There is still a lot of time for the exporter to negotiate the L/C before the expiry date o f LC.六26. As to one countrys foreign exchange rate, do you agree to the saying “the lower, the better”? Why or why not?26. Answer: no, I disagree. One economy would be hurt by the extremely devaluating of its currency. for exporters would say: “before the devaluating of our currency, I used to import materials from the international market then process them in china to export for US dollars, but now I am turning to china nature resources instead of international materials as china resources is much cheaper than that in the international market after the extremely devaluating of china currency.; I mean we are reluctant to improve our technology to enhance our competitive ability, for profits is easy, in fact, we have more profits than before, we can even directly export china nature resources for US dollars. China nature resources and labors are really cheap after the extremely devaluating of china currency. We can sell our products at very low price in the international market, although the price we sold in dollars income may unable to buy back the materials that we used in producing it from the international market. Bur our profits never reduced. So, extremely devaluating of ones currency will lead to too cheap nature resources and too cheap labors, and su