2023年陕西金融英语考试真题卷.docx

2023年陕西金融英语考试真题卷本卷共分为1大题50小题，作答时间为180分钟，总分100分，60分及格。一、单项选择题（共50题，每题2分。每题的备选项中，只有一个最符合题意） 1. Directions: Read the following passages and determine whether the sentences are "Right" or "Wrong". If there is not enough information to answer "Right" or "Wrong", choose "Doesnt say". BPassage One/B There are two general ways in which the term "market" is used in economics. First, a market is thought of as a formal or informal organization of buyers and sellers who conduct trades in particular commodities or services. The market may be located at a geographical meeting place, such as your friendly neighborhood bookstore or shopping center (a retail market). A market may be organized over wide areas connected through phones or computer terminals. Although the trading room of the New York Stock Exchange is located in New York City, buyers and sellers who actively participate in this market may conduct their trades from distant locations. This description is the institutional way of looking at a market. The second meaning of the word "market" is used in formal economic models. Here the equations that explain the demand and supply of a commodity such as money are sometimes grouped together. The reasons for supplying and holding money are thought to be specific enough to warrant separate equations. This is an abstract way to think of the money market. New financial assets are traded in primary markets. Financial assets that are resold are waded in secondary markets. Firms that specialize in trading either new or reissued financial assets are called primary secondary dealers, respectively.A market may also be virtual, which is connected by phones on Internet. AA. RightBB. WrongCC. Doesnt say 2.BPassage Two/B Reserve Banks have expressed an interest in using non-employee experts or consultants on bank supervision matters for a number of reasons. A Reserve Bank may seek to engage retired examiners to address fluctuating resource demands, for example, in the event of a rapid but temporary need for examiners experienced in loan underwriting and credit review. An external expert may be used to provide supplemental training, for example, to expose examiners to new analytical techniques, or to provide on-the-job training to examiners who have not experienced an economic downturn, problem loans, or problem banks. While it is important to maintain adequate resources and expertise on an ongoing basis, a Reserve Bank may decide in a particular situation that using a consultant is a more cost effective or efficient approach to meeting a specialized skill need. For example, a consultant may be engaged for a one-time assignment that does not justify a full-time expert on staff, particularly if a System expert is not available. Similarly, an external expert with industry-specific knowledge may be retained to evaluate a business activity that is nontraditional to banking, such as brokerage services or insurance.Using an external consultant is a more cost effective or efficient approach to meeting a specialized skill need. AA. RightBB. WrongCC. Doesnt say 3. Passage 3 Security is required on loans for several reasons. One of the most common is probably the borrowers financial weakness. Such weakness may be indicated by several factors, including heavy obligations to creditors, poor management, and insufficient income. Borrowers in this financial condition can strengthen their credit by pledging certain assets. Having a secured loan may also be a psychological advantage for a bank. As long as the borrower has greater equity in the pledged assets than does the bank and the bank is in a preferred position and can foreclose in the event the loan agreement is broken, the borrower has a strong incentive to repay the obligation. The length of a loan also has a bearing on whether it will be secured. As the term of the loan lengthens, the risk of non-repayment increases. Loans for purchasing real estate are nearly always secured, especially if the funds are borrowed for long periods of time, because of risk of non-repayment. Unsecured loans are based more exclusively on the borrowers integrity and financial condition, expected future income, and past record of repayment. Contrary to popular belief, the largest loans and the greatest dollar volume of loans made by some banks are often granted on an unsecured basis. The largest commercial borrowers are able to borrow on an unsecured basis. Some companies are considered by banks to be prime borrowers, and in many cases they receive the most favorable interest rate. Such companies have competent management, products and services that are well accepted in the marketable, relatively stable profits, and a strong financial condition. They provide their banks with financial statements from which it is relatively easy to determine their financial condition and keep track of their progress. Business firms are not the only ones who borrow on an unsecured basismany individuals enjoy this privilege. Persons who own their homes, have a steady job which they have held for years, and have a record of prompt payment both at the bank and at retail stores are commonly in a position to borrow on an unsecured basis. An applicants ability and willingness to pay are projected into various situations.Banks will usually grant unsecured loans to _. Aindividuals with steady job held for yearsBindividuals with a good credit recordClarge commercial companies with a strong financial conditionDall of the above 4. Directions: There are 10 blanks in the following passages. For each blank, there are four choices marked A, B, C and D. BPassage One/B Foreign exchange markets are electronic communication systems that U (56) /U major financial centers throughout the world. Exchange rates are determined U (57) /U supply and demand relationships, relative interest rate levels, relative U (58) /U of inflation, political risk, and economic risk. Alternatives U (59) /U affecting settlement of purchase and sales claims were explored U (60) /U with the instruments available to exporters and importers for financing their international activities. AwithBbyCinDthrough 5.BPassage Two/B A derivative is a security which "derives" its value from another underlying U (61) /U instrument, index, or other investment. Derivatives are available based on the performance of stocks, interest rates, currency exchange rates, as well as U (62) /U contracts and various indexes. Derivatives give the buyer greater leverage for a U (63) /U cost than purchasing the actual underlying instrument to achieve the same position. For this reason, when used properly, they can serve to "hedge" a U (64) /U of securities against losses. However, because derivatives have a date of U (65) /U , the level of risk is greatly increased in relation to their term. One of the simplest forms of a derivative is a stock option. A stock option gives the holder the right to buy or sell the underlying stock at a fixed price for a specified period of time. AcommoditiesBcashCinsuranceDfutures 6.BPassage Three/B In the simplest form of international trade, the open-account basis, banks actually have only a simple transactions role. In the open-account basis, the importer and exporter are well known to each other and probably have established a successful working relationship. The importer orders goods and promptly pays for them when the goods and title thereto are received. Almost as simple is the foreign collection basis, in which a bank is used to transmit collected funds. Before the goods it has bought can be shipped, the importer must place funds with its bank so that the exporter is assured that payment will be made with collected funds. In this instance, the bank is merely an agent and not a lender.In foreign collection basis the importer and exporter trade upon their reputation. AA. RightBB. WrongCC. Doesnt say 7.BPassage Two/B Reserve Banks have expressed an interest in using non-employee experts or consultants on bank supervision matters for a number of reasons. A Reserve Bank may seek to engage retired examiners to address fluctuating resource demands, for example, in the event of a rapid but temporary need for examiners experienced in loan underwriting and credit review. An external expert may be used to provide supplemental training, for example, to expose examiners to new analytical techniques, or to provide on-the-job training to examiners who have not experienced an economic downturn, problem loans, or problem banks. While it is important to maintain adequate resources and expertise on an ongoing basis, a Reserve Bank may decide in a particular situation that using a consultant is a more cost effective or efficient approach to meeting a specialized skill need. For example, a consultant may be engaged for a one-time assignment that does not justify a full-time expert on staff, particularly if a System expert is not available. Similarly, an external expert with industry-specific knowledge may be retained to evaluate a business activity that is nontraditional to banking, such as brokerage services or insurance.An external consultant must work with some System experts. AA. RightBB. WrongCC. Doesnt say 8. Directions: Read the following passages and determine whether the sentences are "Right" or "Wrong". If there is not enough information to answer "Right" or "Wrong", choose "Doesnt say". BPassage One/B There are two general ways in which the term "market" is used in economics. First, a market is thought of as a formal or informal organization of buyers and sellers who conduct trades in particular commodities or services. The market may be located at a geographical meeting place, such as your friendly neighborhood bookstore or shopping center (a retail market). A market may be organized over wide areas connected through phones or computer terminals. Although the trading room of the New York Stock Exchange is located in New York City, buyers and sellers who actively participate in this market may conduct their trades from distant locations. This description is the institutional way of looking at a market. The second meaning of the word "market" is used in formal economic models. Here the equations that explain the demand and supply of a commodity such as money are sometimes grouped together. The reasons for supplying and holding money are thought to be specific enough to warrant separate equations. This is an abstract way to think of the money market. New financial assets are traded in primary markets. Financial assets that are resold are waded in secondary markets. Firms that specialize in trading either new or reissued financial assets are called primary secondary dealers, respectively.We can learn from the second paragraph of the passage that there are some equations of market which can explain the demand and supply of the currency of a country. AA. RightBB. WrongCC. Doesnt say 9. Passage 3 Security is required on loans for several reasons. One of the most common is probably the borrowers financial weakness. Such weakness may be indicated by several factors, including heavy obligations to creditors, poor management, and insufficient income. Borrowers in this financial condition can strengthen their credit by pledging certain assets. Having a secured loan may also be a psychological advantage for a bank. As long as the borrower has greater equity in the pledged assets than does the bank and the bank is in a preferred position and can foreclose in the event the loan agreement is broken, the borrower has a strong incentive to repay the obligation. The length of a loan also has a bearing on whether it will be secured. As the term of the loan lengthens, the risk of non-repayment increases. Loans for purchasing real estate are nearly always secured, especially if the funds are borrowed for long periods of time, because of risk of non-repayment. Unsecured loans are based more exclusively on the borrowers integrity and financial condition, expected future income, and past record of repayment. Contrary to popular belief, the largest loans and the greatest dollar volume of loans made by some banks are often granted on an unsecured basis. The largest commercial borrowers are able to borrow on an unsecured basis. Some companies are considered by banks to be prime borrowers, and in many cases they receive the most favorable interest rate. Such companies have competent management, products and services that are well accepted in the marketable, relatively stable profits, and a strong financial condition. They provide their banks with financial statements from which it is relatively easy to determine their financial condition and keep track of their progress. Business firms are not the only ones who borrow on an unsecured basismany individuals enjoy this privilege. Persons who own their homes, have a steady job which they have held for years, and have a record of prompt payment both at the bank and at retail stores are commonly in a position to borrow on an unsecured basis. An applicants ability and willingness to pay are projected into various situations.Which of the following statements is true ALoans for buying houses are always secured in order to reduce the risk of nonpayment.BCompanies are more likely to borrow on all unsecured basis than individuals.CThe largest loans advanced by banks are always secured loans.DBorrowers are more willing to repay the money if the loans are made on an unsecured basis. 10.BPassage Two/B A derivative is a security which "derives" its value from another underlying U (61) /U instrument, index, or other investment. Derivatives are available based on the performance of stocks, interest rates, currency exchange rates, as well as U (62) /U contracts and various indexes. Derivatives give the buyer greater leverage for a U (63) /U cost than purchasing the actual underlying instrument to achieve the same position. For this reason, when used properly, they can serve to "hedge" a U (64) /U of securities against losses. However, because derivatives have a date of U (65) /U , the level of risk is greatly increased in relation to their term. One of the simplest forms of a derivative is a stock option. A stock option gives the holder the right to buy or sell the underlying stock at a fixed price for a specified period of time. AhigherBsmallerClowerDalterable 11.BPassage