Section One Directions: 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 marked A, B, C and D, and decide which is the best answer, Then mark tile corresponding letter on the ANSWER SHEET with a single line through the center.
A.If you don't negotiate your L/C in time, that will bring shame on you.
B.If you don't negotiate your L/C in time, the bank will refuse to pay you.
C.You must negotiate with the bank in time, or you cannot get money.
D.You must negotiate with the bank in time, or you cannot keep good credit.
A B C D
B
[解析] You must negotiate your L/C in time, otherwise the bank will dishonour you.
7.
A.The issuing bank will send the bill of lading and the L/C to the advising bank.
B.The issuing bank will notify the advising bank of the bill of lading and the L/Ｃ.
C.The advising bank will reimburse the bill of lading and the L/Ｃ.
D.The issuing bank will reimburse the bill of lading and the L/Ｃ.
A B C D
D
[解析] The advising bank will send file bill of lading and the L/C back to the issuing bank to get reimbursed.
8.
A.It is essential for the exporter to make sure that the contract conforms with the L/C.
B.Some exporters will make use of the discrepancy of the L/C to cheat in the transaction.
C.It is essential for the buyer to be careful about the agreement of the L/C and the contract.
D.There is a tendency that some exporters deliberately cheat in the transaction.
A B C D
A
[解析] There is a tendency that some buyers deliberately make use of the discrepancy of the L/C to cheat in the transaction, so the exporter must be very careful about the agreement of the L/C and the contract.
9.
A.Some enterprises are not wise enough to get loans because they are not creditworthy.
B.Some enterprises are not creditworthy, so they fail to get loans from banks.
C.Some banks are not wise because they grant loans to some unworthy enterprises.
D.Some banks should first find whether some enterprises are creditworthy before granting loans to them.
A B C D
D
[解析] It is unwise for some banks to grant loans to some enterprises without first finding whether they are creditworthy.
10.
A.The importer should take the contract to the bank if he wants to apply for a L/Ｃ.
B.The applicant, usually the exporter takes the contract to the bank to apply for a L/Ｃ.
C.When applying for a L/C from a bank, the applicant may not have the contract.
D.The applicant may take the contract to the bank after having applied for a L/Ｃ.
A B C D
A
[解析] When applying for a L/C from a bank, the applicant, usually the importer, takes the contract to its hank.
Section Two Directions: In this section, you will hear ten short conversations. At the end of each conversation, a question will 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.
[解析] M: Excuse me. I think you've made a mistake. I should be about US $ 600 in credit and I'm US $ 200 in the red! W: Just a minute, Mr. Dobbs. I'll go and cheek. Question: What's the problem with Mr. Dobbs?
2.
A.Contact the woman or her bank as soon as he can.
B.He will be directed to the issuing bank.
C.He will get a refund.
D.He will get new cheeks.
A B C D
B
[解析] M: What if my checks are stolen or lost? W: If that happens, please inform us as soon as you can, and we'll direct you to the nearest location where, you can get a refund or new checks. Question: Which of the following is not mentioned by the woman?
3.
A.They can't make exceptions.
B.The international financial market is not stable.
C.The Western economy is going down.
D.The competition is very fierce.
A B C D
D
[解析] M: I hope you would allow us to pay by D/A or D/P. W: I understand your situation, Mr. White. But as you know, the Western economy is going down, the international financial market is not stable. To be on the safe side, we can't make exceptions. Question: What is not the reason given by thc second speaker?
4.
A.Our manufacturers will have to change the production schedule:
B.We are not sure about what the production schedule can fulfill.
C.It is very probable that prompt shipment will be made.
D.Our production schedule is full at the moment.
A B C D
D
[解析] M: Is there, any possibility for you to ensure prompt shipment? W: I'm afraid not. Our manufacturers are fully committed at the moment. We dare not commit ourselves beyond what the production schedule can fulfill. Question: Which of the following is correct?
5.
A.Periods of insurance.
B.Destinations and routes.
C.Degree of risks.
D.Kinds of goods.
A B C D
D
[解析] M: Well, how about their premium rates? W: Generally speaking, premium rates vary with different risks, different destinations and routes and different periods of insurance, etc. Question: Which is not the factor that affects premium rates according to the woman?
B.How much money is charged when cashing travellers' cheques.
C.Whether a charge is required when cashing travellers' cheques.
D.Where to cash travellers' cheques.
A B C D
C
[解析] W: Oh, I wasn't aware of the requirement to pay commission to cash my travellers' cheques when I bought them at home. Is that a regular practice? M: I am afraid it is, Madam. Il is file bank's policy to impose a handling charge lot travellers' cheques. Question: What are they talking about?
7.
A.Interest rate of a foreign currency is much higher.
B.There are risks of losing money sometimes to open a foreign currency account.
C.Foreign currencies exchange rates are relatively stable.
D.It is advisable to open a foreign currency account.
A B C D
B
[解析] M: Can I open a foreign currency account and convert my money into a currency which offers the highest interest? W: Yes, we can arrange that for you, but foreign currency exchange rates are subject to fluctuation and sometimes you will suffer losses. Question: What does the woman mean?
8.
A.During summer holidays.
B.Between January and February.
C.At Christmas time.
D.In the last two months of the year.
A B C D
B
[解析] W: So when would you expect your peak seasons to arrive? M: Normally it's between November and December, as many people buy TV games for children as Christmas presents. Besides, we also sell a lot of our products during summer holidays. Question: Which of the following is not among peak seasons?
9.
A.The first woman has applied for a capital loan.
B.The first woman is an old customer of the second woman.
C.The second woman is from a bank.
D.The second woman is going to assess the first woman's loan application.
A B C D
B
[解析] W: Come at 12 noon and we can have lunch together. You can see the facilities at our Center, if that can help your assessment of our loan application. W: I would be delighted to accept your invitation and I really look forward to seeing your center tomorrow. Question: Which of the following cannot be inferred from the conversation?
10.
A.The woman got the remittance of US $ 1000.
B.The woman would like $ 300 in Renmiubi.
C.The woman would like $ 200 in Benminbi.
D.The woman would like $ 500 in traveller's cheques.
A B C D
C
[解析] M: Here is the remittance of US $ 1000 for you. How would you like the money? W: $ 500 in traveler's cheques , $ 200 in US dollars and the balance in Renminbi. Question: Which of the following is not correct?
Section Three 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, C and D. Then mark the corresponding letter on the ANSWER SHEET with a single line through the center.
C.Serious Deterioration in A Bank's Financial Condition.
D.Weak Bank Management.
A B C D
A
[解析] 21-23 Banks sometimes get into trouble despite the good intentions of bank management and file efforts of bank supervision, h is useful to have a look into why this happens. Serious deterioration in a bank's financial condition often results from inadequate supervision of the bank by the board of directors and senior management. Studies have consistently shown that problem and failed banks lack comprehensive policies and procedures limiting risk taking and guiding bank loan officers in developing and maintaining a sound loan portfolio. These failures may be attributed to the bank's board of directors because it is the board's responsibility to ensure that the bank's management is capable and of the highest integrity. The board must also work with management in developing a strategic plan that defines the bank's business goals and its programs tor achieving these goals. Significant departures from such financial plans may point to emerging problems that should not be allowed to get out of hand. When the board of directors fails to meet these responsibilities, the bank is very likely to run into serious problems. 21. Which of the following is the best title for the passage?
A.The cardholders can buy goods beyond a credit limit given on tire credit card account.
B.The cardholder is billett for any outstanding balance.
C.Banks will set different credit lines to different groups of cardholders.
D.The cardholder must sign a sales slip in the presence of tile seller when he/she uses a credit card for purchasing.
A B C D
A
[解析] 24-27 A credit card is a plastic card to be used upon presentation by he cardholder to obtain mo[my, goods, or services, possibly under a line of credit established by the card issuer. The cardholder is billed for any outstanding balance. Credit card customers am given a credit limit on the credit card account and can buy goods and services up to this amount. Normally, banks will set different credit lines to the different groups of cardholders. Every time the cardholder uses a credit card for purchasing, he/she must sign a sales slip in the presence of the seller, and the signature is then compared to the signature on the card. Copies of the sales slips have the details of the card and they also show the details and amount of the sale. Each month the cardholder receives a statement from the bank which' details all the transactions in the month, together with the total amount outstanding and any minimum amount that needs to be paid. When the full balance is not settled each month, the cardholder is charged a compound interest on the outstanding balance, and this is supposed to provide the bank with a main source of income. Other two major sources of credit card services are the annual fee from the cardholders and the percentage of the sales revenue as the commission paid by the seller. 24. Which of the following statements is not tree according to the passage?
5.
A.The details of the card.
B.The details of the sale.
C.The amount of the sale.
D.The amount unpaid.
A B C D
D
[解析] Which of the following is not shown on the sales slips?
6.
A.The details of all the transactions.
B.The total amount unpaid.
C.Any minimum amount unpaid.
D.The amount of a compound interest.
A B C D
D
[解析] Which of the following is not on the statement the cardholder receives from the bank?
7.
A.Annual fee from the cardholder.
B.The percentage of the sales revenue paid by the seller.
C.A compound interest charged oil the outstanding balance.
D.The fee charged on the purchase of a credit card.
A B C D
D
[解析] Which of the following is not one of the sources of bank income?
[解析] 28-30 Commercial banks provide long - term Mortgage Loans to borrowers to purchase houses or land. The ownership of the property remains in mortgagees and the possession of property usually remains in mortgagors unless and until the occurrence of default or full repayment. Maturity of such loans is usually 30 years and the interest rates are fixed. Maximum amount of such loans is 70% of the property value, and the balance should be paid in cash as down payment. A home mortgage plan is much more than a mortgage loan. It has additional benefits. For example, the loan amount is up to 85 % of borrower's property value, and repayment periods are up to 30 years. Repayment schemes include straight line repayment schemes, reducing balance repayment schemes, step - up repayment schemes, and fortnightly repayment option. Other financial services include home owner's overdraft, up to HK $ 400,000 decoration loan, with a repayment period of up to three years. 28. What's the maximum amount of mortgage loans?
9.
A.30 years.
B.More than 30 years.
C.3 years.
D.More than 3 years.
A B C D
C
[解析] What's the repayment period for decoration loan?
10.
A.2
B.3
C.4
D.5
A B C D
C
[解析] How many repayment schemes are mentioned in this passage?
Part Two Reading
Section One Directions: Each of the following sentences is provided with four choices. Choose the one that best completes the sentence.
1. Economists define money (or, equivalently, the money supply) as anything that is generally accepted iu payment for goods or services or in the ______ of debts.
A.payment
B.paying
C.repayment
D.return
A B C D
B
2. Bemuse checks are also accepted as payment for purchases, ______ account deposits are considered money as well.
A.change
B.check
C.checker's
D.checking
A B C D
D
3. In a barter economy, transactions costs am high because people have to satisfy a "double ______ of wants".
A.encounter
B.concord
C.coincidence
D.incidence
A B C D
C
4. Money is a ______ that allows the economy to run more smoothly by lowering transactions costs, thereby encouraging specialization and file division of labor.
A.lucrative
B.lubricate
C.lubricant
D.lucid
A B C D
C
5. The solution to the problem is to introduce money into the economy and have all prices quoted ______ units of that money.
A.in the light of
B.in accordance with
C.in terms of
D.in
A B C D
C
6. Money also functions as a store of value; it is a ______ of purchasing power over time.
A.repository
B.depositor
C.repertory
D.repercussion
A B C D
A
7. Money is file most liquid asset of all because it is the medium of exchange; it does not have to be ______ into anything else in order to make purchases.
A.transmitted
B.conversed
C.converted
D.converge
A B C D
C
8. A financial system must therefore meet the needs of such enterprises by locating, securing, and ______ funds for firms which wish to invest.
A.shipping
B.transporting
C.channeling
D.funneling
A B C D
C
9. The need for financial provision ______ not only to producers but also to consumers.
A.is connected
B.is linked
C.links up
D.relates
A B C D
D
10. Many people are only able to purchase by borrowing either from a commercial bank or from a finance company by means of ______ purchase.
A.wholesale
B.retail
C.hire
D.order
A B C D
C
Section Two Directions: There are a number of blanks in each of the following passages. For each blank there are four choices marked A, B, C and D. You are supposed to choose the best answer and mark the corresponding letter on the ANSWER SHEET by drawing a single line through the center. The Bretton Woods Conference was convened in 1944 to find ways to avoid the 1 international economic difficulties of the post - World Wm' I era. It 2 the International Bank for Reconstruction and Development, commonly called the World Bank. This organization, 3 in Washington, D.C., is owned by over 125 member countries. Each of them contributes 4 to its operations. The largest 5 are the major industrial countries of North America and Europe.
1.
A.disastrous
B.terrible
C.horrible
D.enormous
A B C D
A
2.
A.created up
B.formed
C.established
D.founded
A B C D
C
3.
A.positioned
B.centered
C.surrounded
D.headquartered
A B C D
D
4.
A.money
B.capital
C.cash
D.equity
A B C D
B
5.
A.owners
B.countries
C.contributors
D.members
A B C D
C
The World Bank extends long- term 6 to member governments for development projects such 7 dams, electrification, general infrastructure, agricultural development, and public health. All loans are either 8 directly to the government or carry the government's guarantee. In addition to drawing on its capital contributions for loan funds, the World Bank has 9 bonds in various international capital markets, including the Arab oil - producing countries in recent years. World Bank loans are made in hard currencies at market interest rates 10 to cover the cost of funding, Loans usually mature between 15 and 25 years. Repayment is required in the same currency.
6.
A.loans
B.asset
C.budget
D.draft
A B C D
A
7.
A.that
B.as
C.to
D.in
A B C D
B
8.
A.given
B.extended
C.honored
D.made
A B C D
D
9.
A.issued
B.developed
C.delivered
D.created
A B C D
A
10.
A.plentiful
B.more than
C.sufficient
D.adequate
A B C D
C
Section Three 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 "Doesn't say". Then mark the corresponding letter on the ANSWER SHEET by drawing a single line through the center.
Passage One With China's entry into time World Trade Organization, China has decided to implement a phased reform of the wholly state - owned commercial banks. The first phase of restructuring aims at making them profit - driven entities with sound internal controls, internationally compatible prudential accounting rules, well- designed incentive structures and appropriate disclosure standards. In the second phase, they will be transformed into joint - equity commercial banks on a case- by - case basis provided they meet certain conditions. The third phase envisages publicly listing them depending on their qualifications. The joint - equity banks are an emerging force among the commercial hanks. They operate entirely on a commercial basis and mainly serve the local economic development in large and medium- sized cities. The development of these banks contributes to competition, efficiency in financial intermediation and thereby soundness of the banking system. The reform of time financial system and particularly the diversification of banking institutions have increased competition in the banking sector and improved financial services in China. Apart from the traditional deposit taking and lending business, commercial banks now offer a broad range of intermediary services such as international settlement, bankcards, private banking, and financial consulting.
1. The wholly state - owned commercial banks will be reformed on a step - by - step basis.
A.Right
B.Wrong
C.Doesn't say
A B C
A
2. The joint- equity banks are not new among the commercial banks and operate on an entirely commercial basis.
A.Right
B.Wrong
C.Doesn't say
A B C
B
3. Commercial banks in China are now transferring from time traditional deposit taking and lending business to a broad range of intermediary services such as international settlement, bankcards, private banking, and financial consulting.
A.Right
B.Wrong
C.Doesn't say
A B C
B
Passage Two The first supervisory technique is the process of licensing or chartering hanks. In most countries banks must acquire a charter in order to undertake banking business. By basing banking supervision on a system of licensing &posit'- taking institutions (and, where appropriate, other types of financial institutions), the supervisors will have a means of identifying the population to be supervised and entry to the banking system will be controlled. The licensing process attempts to prevent destabilizing factors (such as inadequate financial resources, unqualified management, or excessive competition) from entering the banking system in the first place. Although the licensing process cannot guarantee that a bank will be well run after it opens, it has proven to be an effective method for reducing the number of unstable situations. Bank charter is usually granted by the central bank or a separate supervisory body of a country. The actual licensing processes and scrutinizing factors considered by different chartering authorities may not be the same but usually share some similarities.
1. In most countries banks must acquire a license in order to undertake banking business.
A.Right
B.Wrung
C.Doesn't say
A B C
A
2. The licensing process can guarantee flint a bank will be well run after it opens.
A.Right
B.Wrong
C.Doesn't say
A B C
B
3. The actual chartering processes and scrutinizing factors considered by different chartering authorities may he. different.
A.Right
B.Wrong
C.Doesn't say
A B C
A
Passage Three For banks with serious problems, they will have to adopt a remedial action program in consultation with the supervisory authorities. While specific content of such a program will depend on the natures of the bank's problems, there are usually several common elements in these bank programs. The bank will be required to develop a detailed capital and operating plan, showing how the bank's financial health will be restored. The plan will show not only how the bank expects its income, dividends, assets, liabilities and capital to unfold over the next year or two, but also its best guess as to the development of non-performing assets and loan charge - offs over the stone period. Both the supervisors and the bank's directors can use these plans to structure the needed remedial measures mid to monitor the progress of the remedial program. When a bank's problems have eroded its capital base, the program will include measures designed to restore its capital position. For example, if a bank is undercapitalized, it may be prohibited from paying dividends and be subject to other supervisory measures. Such measures may include raising new equity capital, selling unprofitable assets or business, and limiting growth and expansion. Frequent liquidity reports are also likely to be required by the supervisors who must remain alert to the possibility of bank funding difficulties.
1. Banks with serious problems will have to launch a remedial action program based on the natures of the problems.
A.Right
B.Wrong
C.Doesn't say
A B C
A
2. In a detailed capital and operating plan, the bank needs to show what are tire expected incomes, dividends, assets, liabilities and capital over the next year or two.
A.Right
B.Wrong
C.Doesn't say
A B C
A
3. Non - performing assets and loan charge - offs refer to the assets that can be recovered and the loans that are cancelled.
A.Right
B.Wrong
C.Doesn't say
A B C
B
4. When a bank's problems have affected its capital base, in order to restore its capital position, the bank might raise new equity capital, sell unprofitable assets or business and accelerate the pace of expansion.
A.Right
B.Wrong
C.Doesn't say
A B C
B
Section Four Directions: There are 4 passages in this section. Each passage is followed 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 One A bill of exchange (draft) is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand, or at a fixed or determinable future time, a stun certain in money, to or to the order of a specified person, or to the bearer. A bill of exchange is either a sight bill or a usance, tenor or term bill. When a bill is payable on demand or at sight, the drawee is required to pay immediately when the bill is presented to him. A bill is payable on demand if it is so specified or if time for payment is not expressed. A bill may be payable within a fixed period after the date of the bill. For example, "pay three months after date..." A bill may be payable within a fixed period after an event which is certain to happen, e.g., "one month after the death of B". A bill may be expressed as being payable within a fixed period after sight. The bill must be, in writing. Therefore, the ordinary rules governing written contracts apply. Oral evidence cannot be admitted to contradict unfulfilled nature or terms of a bill of lading. A bill must be "addressed by one person to another" se that there must be one person as drawer, and another as drawee. It is possible to have one or joint drawees, but not drawees in the alternative, i.e. A and B but not A or B.
1. A bill of exchange is an (a) ______.
A.unconditional promise in writing
B.unconditional order in writing, payable only on demand
C.conditional order in writing, addressed by one person to another
D.unconditional order in writing, payable on demand or at a fixed or determinable future time
A B C D
D
2. When a bill is payable on demand or at sight, the drawee is required to ______.
A.pay immediately when the bilk is presented to him
B.pay within a fixed period after the date of the bill
C.accept the bill immediately when it is presented to him
D.receive immediate payment on presentation of the documents
A B C D
A
3. A bill is payable ______.
A.only within a fixed period after the date of the bill
B.on demand or within a fixed period after the date of the bill
C.only at a specified time after acceptance by the drawee
D.immediate after the drawer signs it
A B C D
B
4. A usance bill is a bill ______.
A.which is payable on presentation to the drawee
B.which has no documents attached to it
C.which is payable either at some fixed future date or a number of months or days after the bill has been sighted
D.which is payable when it is sighted by the payer
A B C D
C
5. Which of the following is correct? A bill of exchange can be i) a sight bill, ii) a term bill, iii) a bill of lading, ______.
A.either i) or ii)
B.either i) or iii)
C.either ii) or iii)
D.both i) and iii)
A B C D
A
Passage Two There are four main functions of bill of lading: The bill of lading is evidence of the contact for carriage between the shipper and the carrier. The bill of lading acts as a receipt of the goods from the shipping company to the shipper. While there is no indication of damage to the goods, a bill of lading is said to be clean. A bill of lading is a quasi negotiable document. Any transferee for value who takes possession of an endorsed bill of lading obtains a good title to it, provided the transferor had a good title in the first place. A bill of lading acts as a document of title to goods being shipped. The goods will be released from the port only against production of one of tile original bills of lading. Original bills of lading are usually issued in sets of two or three (the number of originals will be indicated on the bill of lading). As any one original bill of lading will enable the possessor to obtain the goods, possession of a complete set is required before control of the goods is assured. Shipping companies often issue unsigned copies of bill of lading for record purposes. These unsigned copies are not documents of title. The shipper can demand that the ship - owner supply bills of lading proving that the goods have been actually shipped. For this reason, most bill of lading forms are already printed as shipped bills and commence with the wording: "shipped in apparent good order and condition". It confirms the goods are actually on board the vessel. This is the most satisfactory type of receipt and it is stressed the importer will normally require the exporter to produce bills of lading as evidence that goods have been shipped on board.
1. All of the following are the functions of bill of lading except ______.
A.the bill of lading is proof of the contract for carriage
B.a bill of lading acts as a receipt of the goods from the shipping company to the shipper
C.a bill of lading is a completely negotiable document
D.a bill of lading acts as a document of ownership to goods being, shipped
A B C D
C
2. The bill of lading is ______.
A.a contract
B.is not a contract
C.is a contract between the shipping company and the carrier
D.is a receipt issued by the shipper
A B C D
B
3. A clean bill of lading could indicate that ______.
A.the goods carried are clean
B.the goods are not damaged when received for shipment by the shipping company
C.the bill of lading has no soiled spot on its the
D.the bill of lading is not accompanied by other documents
A B C D
B
4. Any transferee for value who takes possession of an endorsed bill of lading obtains a good title to it, provided the transferor had a good title in the first place. Hem "any transferee for value" and "good title" means' ______.
A."any valuable transferee" and" good name" respectively
B."any transferee who has paid the price" and" effective ownership" respectively
D."any transferee who has paid the price" and" good name" respectively
A B C D
B
5. The goods will be released from the port only against production of one of the original bills of lading. Here" production" means ______.
A.preparation
B.creation
C.presentment
D.manufacturing
A B C D
C
Passage Three Accounting practices rest on certain guidelines. The rules that govern how accountants measure, process, and communicate financial information fall under the heading GAAP, which stands for generally accepted accounting principles as follows: The Entity Concept The most basic concept in accounting is that of the entity. An accounting entity is an organization or a section of an organization that stands apart from other organizations and individuals as a separate economic unit. From an accounting perspective, sharp boundaries arc drawn around each entity so as not to confuse its affairs with those of other entities. The Reliability ( or Objectivity) Principle Accounting records and statements are based on the most reliable data available so that they will be as accurate and as useful as possible. This is the reliability principle. Reliable data are verifiable. They may be confirmed by any independent observer. Ideally, then, accounting records are based on information that flows from activities that are documented by objective evidence. Without the reliability principle, also called the objectivity principal, accounting records would be based on whims and opinions and would be subject to dispute. The Cost Principle The cost principle states that assets and services that are acquired should be recorded at their actual cost (also called historical cost). Even though the purchaser may believe the price paid is a bargain, the item is recorded at the price paid in the transaction. The cost principle also holds that the accounting records should maintain the historical cost of an assets for as long as the business holds the assets. There, are also the Going- Concern Concept and the Stable - Monetary- Unit Concept.
1. The accounting entity is ______.
A.a separate section of an organization
B.an Organization
C.an individual as an separate economic unit
D.All above.
A B C D
D
2. Which of tile following statements is the mast accurate?
A.Accounting records and statements are based on the data available.
B.Accounting records and statements are based on the some of the reliable data.
C.Accounting records and statements are, based on the most reliable data available.
D.Accounting records and statements are based on the recorded data.
A B C D
C
3. Which of the following statements is not correct?
A.Reliable data are verifiable.
B.Reliable data may be confirmed by any independent observer.
C.Accounting records based on whims and opinions without reliability principle would be subject to dispute.
D.Ideally, accounting records arc based on information that flows from activities that are documented by subjective impression.
A B C D
C
4. Tico Co. Ltd. bought a computer at the price of US $ 300, though the real price on the market was US $ 100. And the general manager thought it was worth of only US $ 90. So the price of the computer shall be booked at the price of ______.
A.US $ 300
B.US $ 100
C.US $ 90
D.US $ 200
A B C D
A
5. Still in the above case, three months after the transaction, the market price of the same computer rose by US $ 150. So the price of the computer shall bc booked at the price ______.
A.US $ 300
B.US $ 100
C.US $ 90
D.US $ 250
A B C D
A
Passage Four Consumer Credits are high risk and high interest credit products, which are usually classified into three sorts: amortization loan, credit card and non- installment loan for purchasing cars or non - structure houses or investing a little amount and so on. Their maturity usually range from two to five years. Education loan is just one type of amortization loans. Credit card, first issued by Franklin National Bank in 1952, is a kind of revolving loan, and is getting more and more popular. Non - installment loan is a kind of short - term loan to meet temporary need and is supposed to pay back at one rime. It is also called bridge loan. Commercial banks provide long- term Mortgage Loans to borrowers (consumers) to purchase homes/land. The ownership of the property remains in mortgagees and the possession of property usually remains in mortgagors mdess and until the occurrence of default or full repayment. Maturity of such loans is usually 30 years and the interest rates are fixed. Maximum amount of such loans is 70% of the property value, and the balance shouhl be paid in cash as down payment. A home mortgage plan is much more than a mortgage loan. It has additional benefits. For example, the loan remount is up to 85% of borrower's property value, and repayment periods are up to 30 years. Repayment schemes include straight line repayment schemes, reducing balance repayment schemes, step- up repayment schemes, and fortnightly repayment option. Other financial services include home owner's overdraft, up to HK $ 400,000 decoration loan as much as HK $ 400,000 with a repayment period of up to three years. Bridging Loan, which will help borrowers to complete the purchase of the new property before borrowers' receipt of safe proceeds from borrowers' existing property, equity Loan, up to HK $ 2,000,000 for use as a deposit for a new house, or for other personal financial needs exclusive preferential interest rate.
1. Consumer Credits are high risk and high interest credit products, which are usually classified into three sorts, they are ______.
A.amortization loan, real estate loan and mortgage loan
B.amortization loan, syndicated loan and mortgage loan
C.real estate loan, amortization loan and mortgage loan
D.amortization loan, credit card and bridge loan
A B C D
D
2. Consumer credit can be used to extend loans to the borrower for ______.
A.purchasing cars or acquisition of a company
B.purchasing houses or financing a project
C.financing a project or a temporary imbalance of payments
D.purchasing cars or financing a person's education
A B C D
D
3. With mortgage loans, unless and until the occurrence of default or full repayment, ______.
A.the ownership of the property remains in borrowers arid the possession of property usually remains in mortgagors
B.both the ownership and the possession of the property remain in mortgagors
C.both the ownership and the possession of the property remain in mortgagees
D.The ownership of the property remains in mortgagees and the possession of property usually remains in mortgagors
A B C D
D
4. Maturity of mortage loans is usually ______.
A.20 years and the interest rates are fixed
B.30 years and the interest rates are variable
C.30 years and the interest rates are fixed
D.20 years and the interest rates are variable
A B C D
C
5. According to the passage, a home mortgage plan ______.
A.is similar to a mortgage loan
B.is absolutely different from a mortgage loan
C.has more benefits than a mortgage loan
D.None of the above is correct.
A B C D
C
Part Three Writing
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Section One Directions: Describe the procedures of factoring according to tile number order in the following charter. Write your answer on the ANSWER SHEET:
1.
① Customer places order on tile Client. ② Factor fixes customer sub limit. ③ Client delivers goods and invoice to customer with notice to pay Factor. ④ Client tenders copy of invoice to factor. ⑤ Factor makes payment up to 80% of the invoice value. ⑥ Factor sends monthly statements to customers. ⑦ Factor follows up if unpaid by due date. ⑧ Customer makes payment to Factor. ⑨ Factor releases balance amount to the Client.
Section Two Directions: Translate the following sentences into Chinese. Write your translation on the ANSWER SHEET.
1. The banking sector has played an important role in facilitating the implementation of the stabilization and structural measures as well sustaining strong economic growth. Tile macroeconomic stability and structural improvement in turn have enabled the banking sector to develop vigorously.
Upon comparing the captioned signature appearing on the above credit with your Booklet in our possessions, we are unable to verify them because we are only in possession of tile specimens numbered 1430 as the maximum in your Booklet of Specimen Signatures, so authentication of the signature number 2341 is beyond possibility. Please look into the matter and let us know whether you have sent the above specimen signature, so as to update the Booklet in our possession. We anticipate your early attention to the matter.
Yours faithfully, ××× Manager Bank of China Beijing Branch
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