金融英语证书考试.pdf

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1、金融英语证书考试（FECT）Exercises-1（1）of the following is not a function of money？_。?act as a medium of exchange act as a unit of account act as a store of value provide a double coincidence of wants act as a means of payment price in the foreign exchange market is called _。trade surplus exchange rate money p

2、rice currency rate risk refers to the risk of_。prices fluctuations paymentsof the following is not among the generally accepted accountingprinciples？_。basis concern measurement。is a documentary letter of credit？_。conditional bank undertaking to pay an exporter onproduction ofstipulated documentation

3、 method of lending against documentary security international trade settlement system biased in favour of importers of the above a group of assets reduces risk as long as the assets _。perfectly correlated completely independent not have precisely the same pattern of returns a correlation coefficient

4、 greater than one amount，payable in money goods，or service，owed by a business toa creditor，is known as a/an。function is money serving when you buy a ticket to a movie？_。of value medium of exchange demand unit of account foreigners expect that the future price of sterling will be lower，the _。of sterl

5、ing will increase，demand for sterling will fall，and theexchange rate will fall of sterling will increase，demand for sterling will rise，and theexchange rate may or may not increase of sterling will fall，demand for sterling will increase，and theexchange rate will rise of sterling will fall，demand for

6、sterling will fall，and the exchangerate may or may not fall documentary collection provides the seller with a greater degree ofprotection than shipping on _。accounts letter of guarantees draft credit of the following statements is not true of central banks？_。pay the governments salaries always under

7、take the regulation of the banking system are always the lender of last resort of the above GBP/USD rate goes from to，we say the dollar _。by%by%by%by%to diversification principle in investment，suppose you invest StockX and Stock Y with equal funds，which of the following is not true？_。X and Y are tot

8、ally independent with each other，the risk of theportfolio is reduced X and Y are perfectly negatively correlated，the risk of the portfoliois perfectly offset X and Y are perfectly positively correlated，the risk of the portfoliois neither reduced nor increased X and Y are perfectly negatively correla

9、ted，the risk of the portfoliois neither reduced nor increased are four main methods of securing payment in international trade：（1）payment under documentary credit（2）open account（3）collection，that is document against payment or acceptance ofa bill of exchange（4）payment in advanceFrom an exporters poi

10、nt of view，the order of preference is _。A.（4），（2），（3），（1）B.（4），（1），（3），（2）C.（4），（3），（1），（2）D.（2），（4），（1），（3）main liability on a bank balance sheet is _。and reserves and overdrafts shows that net income for a specified period of time and how it wascalculated。income statement capital statement account

11、ing statement statement of financial condition must the liabilities and assets of a bank be actively managed？_。assets and liabilities are not evenly matched on the same time scale assets and liabilities are evenly matched the interbank market uses LIBOR assets and liabilities can be underwritten the

12、 expected returns of two risky assets have a perfect negativecorrelation，then risk。increased to zero unaffected reduced by one-half possible disadvantage of freely fluctuating exchange rates with noofficial intervention is that。nations would experience continual deficits exchange rates may experienc

13、e wide and frequent fluctuations would no longer be able to undertake domestic policies designed toachieve and maintain full employment would need a larger supply of international reserves than otherwise are your GBP/USD position and the average rate if you sell 4m at buy5m at and sell$5m at？2 058 l

14、ong$3 370 000 at5 941 short$9710 000 at5 941 long$9 710 000 at4 058 short$6 630 000 at correlation coefficient of+means two stocks are _。negatively correlated the market beta to the market beta positively correlated percentage analysis of increases and decreases in corresponding itemsin comparative

15、financial statements is called _。analysis analysis analysis analysis is the name of the document which can make a buyerfeel confident thatgoods are of a certain standard？_。certificate invoice policy of origin financial intermediaries by borrowing short and lending long findthemselves in difficult fi

16、nancial situations because。rates are falling rates are rising increase too rapidly rates rise relative to rates of their holdings rates rise more sharply than short-term rates were written _。the International Chamber of Commerce the United Nations Convention for the International Sale of Goods（Vienn

17、a Convention）the Kyoto Protocols as adopted in 2000 purpose of keeping account is to。whether the business has made a profit or a loss out why the business has lost money how much has been spent out why the business cannot fulfil its commitments reserves are 20 percent，then the multiplier effect will

18、 be _times，so the original deposit of RMB40 000 can create up to _ of newdeposits。RMB200000RMB120000RMB80000RMB20000 Company is the beneficiary of a confirmed irrevocable letter of bank（s）will assure the company that it will be paid。tender includes。and coins only only，coins and checks following are

19、the basic functions of a bill of lading except to actas _。receipt for the goods from the shipping company to the exporter document of title for goods being shipped overseas certificate of origin，which certifies that the goods were producedin a particular country of the carriage contract between the

20、exporter and the carrier foreign trade deficits under a flexible exchange rate system usually leadto _。in the domestic economy of future devaluation interest rates imports additional amount paid in buying or selling a currency at a given futuredate is called。manage their assets considering _。optimum

21、 combination of the above is the function of the book-keeping system in bank accounting？_。prove that all the days transactions have gone through for the rightamount prove that all the days transactions have all been posted to the rightaccountprove that the fresh balance of those accounts is correct

22、afterrecording the transactions of the above risk that is specific to individual stocks is called _。risk risk risk risk main objective of the Exchange Equalization Account is to _。undue fluctuation in the exchange value of one countrys own currencyagainst other currencies the rate of inflation that

23、notes and coins continue to be acceptable as a medium of exchange the exchange of payments between banks can you prove that no transactions are missing or wrong at the end ofthe day？_。is no other way than have these transactions reposted to the properentries can examine all the transactions carefull

24、y and find the wrong records can balance the total debits and the total credits by calculating themagain can do that by checking the total debits and the total credits to seewhether they are in state of balance _。as the critical function of a medium of exchange trade in goods and services the ineffi

25、ciencies of barter of the above dealers buy currency forward but do not sell forward at the same time，their position is known as。?if clearly incorporated into the contract of sale International shipments beyond a certain tonnage international shipments under the Uniform Commercial Code all internati

26、onal shipments of goods which one of the following circumstances would it be wise for yourcustomer to arrange a forward foreign exchange contract？_。of goods priced in a foreign currency of goods priced in RMB of goods priced in RMB of goods priced in a foreign currency where the rate of exchange has

27、been agreed in the sales contract address _。risks of loss between the parties of contract rights of ship used of the following is or was an example of representative full-bodiedmoney？_。money account certificate deposit associated with investing in foreign countries are the following except_。risk rat

28、e risk risk riskexporter sells goodsto a customerabroad on FOB and on CIFisresponsible for the freight charges in each？_。；Exporter；Importer；Importer；Exporter risk refers to the possibility that a borrower may _。unable to repay the principal on his loan unable to make the interest payments on his loa

29、n bankrupt of the above is the reserve requirement？_。requirement of a bank to deposit a percentage of money requirement for deposits in cash percentage of a banks deposits in the form of cash reserves requirement for cash reserves draft is like a check that can be endorsed but it isnt a title to goo

30、ds，like _。bill of lading inspection certificate certificate of origin insurance certificate _。a general economic term for buying something where it is cheap andselling it where it is dear exchange rates consistent across markets been outlawed by the International Monetary Fund occur where there is a

31、 forward exchange market A and B is the purpose of comparing the ledger entries with the documents？_。prove that all the transactions have made for the right amounts prove that all the accounts have been posted correctly check the number of all the debits and credits post the right is Dollar Cost Ave

32、raging？_。brokerage account that gives investors cheap trades idea that prices tend to rise over the long term stocks that are below average in value flat quarterly mutual fund fee averaged throughout the year strategy of investing money on a regular basis to take advantage ofmarket fluctuations a Ch

33、inese banks point of view，the currency account which it maintainsabroad is known as_，while a RMB account operated in China for a foreignbank is termed _。vostro account a nostro account vostro accounta mirror account mirror accounta nostro account nostro account a vostro account FOB terms the bill of

34、 lading would state goods _。on board，freight payable at destination on board，freight paid for shipment，freight paid for shipment，freight payable at destination liabilities of the bank as shown in its balance sheet represent the_ which it uses in its business。of the funds capital to customers payment

35、s and other messages are often sent through an internationalcomputer network called _。levels of uncertainty（risk）are associated with。options potential returns potential returns securities would appear on a commercial banks balance sheet as _。asset of net worth liability major problem with a fixed ex

36、change rate system is that when countriesrun foreign trade deficits，_。is no self-correcting mechanism values become unstable value of the reserve currency declines inflation increases a particular economy banks are required to keep 25 percent of alldeposits in the form of reserves；this gives a credi

37、t-creation multiplierof _。of the money supply and financial markets is referred to as _。policy policy policy policy a country runs a foreign trade deficit under a flexibleforeign exchange rate system，its。automatically increase automatically depreciates automatically decline automatically appreciates

38、 of the following statements is not true of accounting？_。is language of businessuser of accounting includes business，government，nonprofitorganizations and individuals。is useful for decision making is an end rather than a means to an end term foreign exchange is best defined by the following statemen

39、t：it is _。rate of exchange between two currencies with currency exchange place in which foreign currencies are exchanged instrument such as paper currency，note，and check used to makepayments between countries is Asset Allocation？_。assets of different types，risks，and potential returns assets with mor

40、e than one brokerage account ability to buy mutual funds stocks for the long term users of financial accounting information include all of the followingexcept。managers public is short for。Asset Pricing Model Added Price Matrix Asset Pricing Matrix and Price Model measures the _。of an asset with whic

41、h an asset can be exchanged of an asset and monetary reliability of an asset compared with other assets a letter of credit transaction，the bank pays the seller against _which agree（s）with_。the credit the contract the contractthe buyer barter economy is one that does not possess _。?wealth currency me

42、dium of exchange of the following is not true of airway bill？_。goods are delivered to the airline，the airway bill is signed by themor their agents as a receipt of the goods bill is a document of title to the goods bill may also provide evidence of despatch of the goods where it hasbeen stamped indic

43、ating details of the relevant flight of the above value of money varies _。with the unemployment rate with the price level with the unemployment with the price leveleconomicsnews on the televisionreportsthatthe dollar hasstrengthened relative to the Japanese means that _。dollar has depreciated relati

44、ve to the yen dollar can now purchase more yen yen can now purchase more dollars US trade balance with the Japanese economy has improved theory of international exchange that holds that exchange rates areset so that the price of similar goods in different countries is the sameis the _。feedback theor

45、y feedback theory power parity theory theory to the optimal portfolio theory，where should portfolios lie？_。the efficient frontier the efficient frontier the efficient frontier，as long as the portfolio is diversified of the following is not a user of management accounting information？_。manager on the

46、 scenarios below，what is the expected return for a portfoliowith the following return profile？_。Market Condition%Use the following expectations on Stocks X and Y to answer questions17 through 19（round to the nearest percent）。markets serve to channel funds from _。government to contractors to consumer

47、s to producers to investors agreements that were reached at the Bretton Woods conference in 1944established a system。essentially fixed exchange rates under which each country agreed tointervene in the foreign exchange market when necessary to maintain theagreed-upon value of its currency floating ex

48、change rates determined by the supply and demand of onenations currency relative to the currency of other nationsprohibited governments from intervening in the foreign exchangemarkets which the values of currencies were fixed in terms of a specific numberof ounces of gold，which in turn determined th

49、eir values in internationaltrading of the following statements is not consistent with generally acceptedaccounting principles relating to asset valuation？。are originally recorded in accounting records at their cost to thebusiness entity prefer to base the valuation of assets upon objective，verifiabl

50、eevidence rather than upon appraisals or personal opinion assume that assets such as office supplies，land and buildings willbe used in business operations rather than sold at current market prices total liabilities from total assets indicates what the owners equityin the business is worth under curr