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.
1.
A.Sometimes the interest rates on time deposits are not fixed.
B.People can draw these deposits at any time.
C.The interest rates on time deposits are fixed.
D.The interest rates on time deposits are floating.
A B C D
A
[解析] These time deposits earn higher interest rates, which may be fixed or floating, but no withdrawals are allowed until the term has ended. 单句意思为"定期存款会获得一个固定的或浮动的更高利率,但如果不到期则不允许取款"。只有A项意思正确。
2.
A.The objective of financial reporting is to provide information useful for making investment and lending decisions.
B.The financial reporting is useless.
C.The financial reporting can't help people to decide whether they invest on something or not.
D.The financial reporting has no objectives.
A B C D
A
[解析] The financial reporting is used to provide information useful for making investment and lending decision. 单句的意思为"财务报告被用来为投资及借贷决策提供有用信息。"
3.
A.Some borrowers are engaged in undesirable activities which are considered immoral.
B.Some lenders are engaged in undesirable activities which are considered immoral.
C.Most borrowers don't engage in activities that are undesirable or immoral.
D.Most lenders don't engage in activities that are undesirable or immoral.
A B C D
A
[解析] From the lender's viewpoint, moral hazard is the risk in financial markets that some borrowers may engage in activities that are undesirable or immoral. 单句意思为"贷方认为一些借方可能会从事不合需要或不道德的活动而造成金融市场的道德风险"。B、D项错误,C项没有明确指出。
4.
A.An irrevocable L/C can not be committed to amendment.
B.An irrevocable L/C can not be cancelled without permission.
C.An irrevocable L/C can not be cancelled or amended.
D.Neither cancellation nor amendment without permission can be made to the irrevocable L/C.
A B C D
D
[解析] If a letter of credit is issued irrevocably, it can't be canceled nor amended without permission. 单句意思为"如果信用证是不可撤销的,那就表示未 单句意思为“如果信用证是不可撤销的,那就表示未经允许信用证是不可以取消或是修改的。”
5.
A.The paying bank sends the check to the remitting bank for repayment.
B.The remitting bank sends the check to the paying bank for repayment.
C.The collecting bank sends the check to the remitting bank for repayment.
D.The remitting bank sends the check to the collecting bank for repayment.
A B C D
A
[解析]The encashing bank forwards the cheque to the drawer’S bank for payment and reimbursement. 单句意思为“兑现银行开出支票给出票几银行以获得偿款。”兑现银行指的就是付款银行,而出票银行指的是托收银行。
6.
A.The shareholders are the owners of limited companies.
B.Shareholders deposit their money in the limited companies.
C.The shareholders can sell shares of limited companies to the public.
D.Shareholders of limited companies are able to make profits continuously.
A B C D
A
[解析]The owllers of limited companies are people who have bought shares in the Company. 单句意思为“有限公司的拥有者是那些购买公司股份的份额”。
7.
A.A forward transaction is done on a future date.
B.A forward purchase is to buy foreign currency in future.
C.A forward purchase is to buy a foreign currency with settlement on a future date.
D.A forward transaction is to buy a foreign currency on future date.
A B C D
C
[解析]In foreign exchange transactions,a forward purchase is an undertaking to buy a partieular amount of foreign currency for delivery and settlement of a future date. 单句意思为“在外汇交易中,远期交易就是购入一定量的外币准备在未来某一日期交付和结算。”
8.
A.Banks make money in foreign exchange business because of profit margin.
B.Banks make money from the price spread in the foreign exchange market.
C.Banks make money in foreign exchange business on profit as well as on volume.
D.Banks make money in foreign exchange business because of the great volume.
A B C D
D
[解析] Banks make money in the foreign exchange dealings not on profit margin but on volume. 单句意思为“银行在外汇交易中挣钱不是来自于边际利润而是来自于交易量。”
9.
A.The company is a sun-rising firm so it is worthwhile to extend the loan.
B.The company has some accounting problems, some improvement is needed.
C.The company is short of funds because it is sun-rising.
D.The company has some accounting problems because it is sun-rising.
A B C D
B
[解析] Although the said company is a sun riSing firm.its accounting management should be improved before the lcan is extended to it. 单句意思为“尽管我们谈及的企业是成长性企业,但是在我们贷款给对方之前,它应该要完善它的财务会计管理。”
10.
A.A currency swap is a better way to convert the long-term transaction into a spot transaction.
B.A currency swap makes long-term transaction exposure to exchange rate fluctuations.
C.A currency swap is a better way to reduce the risks of the long-term transactions owing to the exchange rate fluctuations.
D.A currency swap can in no way reduce the risk of exchange rate fluctuations.
A B C D
C
[解析] A currency swap is a second technique for hedging long term transaction exposure to exchange rate fluctuations. 单句意思为“外汇浮动对远期交易有一定影响外汇互换可以降低这一风险。”
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.
1.
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. Q: What does the woman mean? 男士是想开一个外汇账户,但女士提醒男士说外汇汇率会有波动,所以有时会 "suffer losses"。
2.
A.That she needs $200 to open an account.
B.That savings accounts earn low interest.
C.That she should not open an account.
D.That $ 2,000 will earn reasonable interest.
A B C D
D
[解析] M: All you need to open a savings account is $20. But in order to earn reasonable interest you should maintain a balance of at least $ 2,000. W: I only have $ 200 but I'll open an account anyway. Q: What information does the man give the woman? 男士说开定期账户只需要二十美元,但是对方若想"earn reasonable interest", 那账户里至少需要两千美元的余额,由此可推出选项D为正确项。
3.
A.Overdrafts.
B.Mortgages.
C.Personal loans.
D.Letter of credit.
A B C D
D
[解析] M: Do you know some forms of bank advances? W: There are three forms: overdrafts, personal loans and mortgages. Q: Which of the following is not a form of bank advances? 对话中明确指出银行预付款有三种形式:透支,抵押和个人贷款,D项"信用证"没有提及。
4.
A.The interest rate of savings account.
B.The discounting rate for drafts.
C.The rediscounting rate.
D.The interest rate for loans.
A B C D
B
[解析] M: What about the interest rate? W: Well, the discount rate is given in accordance with the terms of the bill, time of discount, the amount, the reputation of the drawee and the drawer. Q: What are they talking about? 根据女士的回答,贴现率是根据单据的款项、贴现的时间和数额及出票人和收票人的信誉来定的,由此可知他们谈论的是汇票的贴现率。
5.
A.Accounting basis.
B.Cash basis accounting.
C.Accounting control.
D.The chart of accounts of a bank.
A B C D
C
[解析] M: Accounting controls refer to plans, procedures and records required for safeguarding assets and producing reliable financial accounts. W: Yes. Accounting controls are important elements of a bank's internal control system, the soundness of which is vital for bank's survival. Q: What are the important elements of a bank's internal control system? 对话谈论的是内部会计控制的问题,根据女士的话"accounting controls are important elements of a bank's internal control system", 可知答案为C选项。
6.
A.Returning the cheque.
B.Drawing the cheque in ink.
C.Drawing the cheque in lead-pencil.
D.Going to the paying bank.
A B C D
B
[解析] M: I don't know why the man there said he couldn't pay my cheque. W: Let me see. Yes. You draw your cheque in lead-pencil. It is not recognized in the bank. You should draw it in ink. Q: What is the woman's suggestion? 男士对他的薪金支票不能兑现感到不解,女士发现他是用铅笔开的支票,所以女士建议男士"draw it in ink"。
7.
A.The payments of her draft.
B.The collection of her draft.
C.The exchange of some dollars.
D.The opening of her account.
A B C D
B
[解析] M: Ms. Smith, this is Bank of China, Shanghai Branch, I would like to tell you that your draft has been duly collected. Payment will be made upon your surrendering to us the relative Provisional Receipt for Collection. W: Oh, really. I just badly want some Chinese money. It comes quite in time. Thank you very much indeed. Q: What is informed to Ms. Smith? 男士通知女士说她的汇票已按时托收了。
8.
A.Standard Chartered Bank, London is one of our correspondent banks.
B.We can advise this L/C through Standard Chartered Bank, London.
C.We will send the advice of the L/C directly to the beneficiary.
D.Another bank will be chosen as the advising bank of this L/C.
A B C D
D
[解析] M: We haven't set up correspondent relations with Standard Chartered Bank, London. W: Then we shall try to find another bank to have our letter or credit advised. Q: What do we learn from the conversation? 男士说到他们和伦敦的渣打银行没有建立业务关系,女士则说到"we shall try to find another bank to have our letter or credit advised",故选项D正确。
9.
A.Counter No.12.
B.Counter No.6.
C.Counter No.15.
D.Counter No.16.
A B C D
D
[解析] M: Would you please tell me where I can change the RMB Yuan back into US dollars? W: OK, just go to the Counter No. 16. They will do this for you. Q: Which counter can offer the service of reconversion for the customer? 男士是想将人民币兑换美元,女士则告之去"Counter No.16"。
10.
A.A savings account.
B.A fixed account.
C.A check account.
D.An automatic transfer account.
A B C D
D
[解析] M: Can I make arrangements to open an automatic transfer account for my income tax payments? W: Yes, of course. But you need to indicate what the regular and special transfers should be and we will automatically debit your account for them each month. Q: What kind of account does the customer want to open? 根据男士的话,他是想"open an automatic transfer account",即开一个自动转账账户。
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.
Passage One
1.
A.It allows you to use a cheque book.
B.It earns interest for you.
C.The bank will charge you for this account.
D.No charges will be paid if it remains in credit.
A B C D
B
There are two main types of bank account in the UK: currency accounts and deposit accounts. A current account allows you to use a cheque book, but your money doesn't earn interest. There are bank charges for current accounts, but if your account remains in credit you need pay no charges at all. You must keep a certain amount in credit in your current to avoid charges. This amount changes from time to time. A deposit account earns interest, but it doesn't allow you to use a cheque book. The rate of interest fluctuates. For example, in one year it dropped from 11% to 3%. You can withdraw money from a deposit account by giving notice to a hank. This notice is usually seven days. A current account is a convenient and safe method of handling money. It is also called a cheque account. Your salary can go straight into your current account, and these clays more and more people are paid by direct credit instead of in cash. Direct credit means that your employer, or anyone else who wishes to pay you money, can pay the money straight out of their account into yours. Which of the following statements is NOT true about a current account? 录音原文提到A current account allows you to use a cheque book, but your money doesn't earn interest. 活期存款账户允许使用支票,但是没有利息。
2.
A.11%.
B.3%.
C.7%.
D.It fluctuates.
A B C D
D
[解析] What is the rate of interest for a deposit account? 录音原文提到A deposit account...The rate of interest fluctuates. 定期存款账户有利息,但不能使用支票,同时其利率浮动。
3.
A.A safe and convenient way of handling money.
B.People are paid in cash.
C.Your salary goes straight into your account.
D.Your money is paid straight into your account from other's
A B C D
D
[解析] What is direct credit? 录音原文提到Direct credit means that...their account into yours. 直贷意味着你的老板或者其他任何想付你款的人可以直接通过他们的账户将钱转入你的账户。
Passage Two
1.
A.A plastic card.
B.A plastic card used by cardholder to purchase goods or services, or withdraw cash.
C.Something used to purchase goods or services, or withdraw cash.
D.A machine can be used to withdraw cash.
A B C D
B
[解析]A debit card is a plastic card enabling the cardholder to purchase goods or services, or withdraw cash, the cost of which is immediately charged to his or her bank account. Debit cards are used to activate POS terminals in supermarkets, gas stations and stores. Together with credit cards, they are commonly referred to simply as bank cards. Debit cards are widely used to pay for goods and services. They are used in conjunction with a current bank account. The amount of the purchase is immediately debited from the account and no credit is involved, hence its name. A smart card is a secure, portable, tamper-resistant data-storage device. It is the exact size of a credit card and contains a computer with as much power as the original minicomputer. What is a debit card? 录音原文提到A debit card is a plastic card enabling the cardholder to purchase goods or services, or withdraw cash, ...借记卡是一张塑料卡片,它能够使持卡人购买商品、获取劳务或者提取现金…。
2.
A.Supermarkets.
B.Gas stations.
C.Stores.
D.Newspaper stands.
A B C D
D
[解析] Which is not mentioned as the place where a debit card is used? 录音原文提到Debit cards are used to activate POS terminals in supermarkets, gas stations and stores。
3.
A.Current account.
B.Deposit account.
C.Savings account.
D.Personal loan account.
A B C D
A
[解析] What kind of account is in conjunction with the debit card? 录音原文提到They are used in conjunction with a current bank account。
4.
A.Secure.
B.Portable.
C.Durable.
D.Golden.
A B C D
D
[解析] What is not the feature of the smart card? 录音原文提到A smart card is a secure,portable,tamper-resistant data-storage device. 智能卡是安全、方便携带以及不易损坏(因而耐用)且能 保存数据的设备。
Passage Three
1.
A.To pass the full title to the endorsee.
B.To inform the importer's bank to negotiate.
C.To strengthen the liability of the endorsee.
D.To limit the endorser's liability.
A B C D
D
[解析] When the words "without recourse" or words with similar meaning are used as part of the endorsement, such endorsement is referred to as qualified endorsement. The purpose of this type of endorsement is to limit the endorser's liability. The qualified endorsee, however, may look to all other parties prior to the qualified endorser. Under the UCP, the term "signature" also includes marks and thumbprints and printed, typed, or stamped signatures are acceptable in addition to writ ten ones. The rule also applies to endorsements. In the United States. the endorsement on an instrument need not necessarily be applied by the previous holder. What's the purpose of qualified endorsement? 录音原文提到such endorsement is..., ...to limit the endorser's liability.类似的背书就是无追索权背书,其目的在于减轻背书人的责任。
2.
A.They may look to all other parties prior to the qualified endorser.
B.They may look to all other parties prior to the qualified endorser.
C.They may look to all other parties prior to the immediate endorsee.
D.They may look to all other parties prior to the immediate endorsee.
A B C D
A
[解析] About the qualified endorsees, which of the f10llowings is true? 录音原文提到The qualified endorsee, however, may look to all other parties prior to the qualified endorser. 无追索权的被背书人将指望优先于背书人所有其它签名者。
3.
A.Marks and thumbprints, and printed, typed, or stamped signatures are acceptable in addition to written ones.
B.Marks and thumbprints, but printed, typed, or stamped signatures are acceptable in addition to written ones.
C.Marks and thumbprints, but printed, typed, or stamped signatures are not acceptable.
D.Marks and thumbprints only.
A B C D
A
[解析] According to UCP, what does the term "signature" include? 录音原文提到Under the UCP, the term "signature" also includes...in addition to written ones. 根据统一惯例,签名包括标志、指纹以及包括手写、打印或摹刻等各式签名,它们都是可以接受的。
Part Two Reading
Section One Directions:There are three 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.
Passage 1 Most commercial letters of credit are documentary, meaning that certain documents must be included with any drafts drawn under the terms of the credit. Documents required usually include an order bill of lading, a commercial invoice, and any of the following: consular invoice, insurance certificate or policy, certificate of origin, weight list, packing list. The first is the standby letter of credit, in which the issuing bank undertakes to pay if the applicant does not carry out his obligations. Documents normally called for are evidences of the underlying transaction, such as non-negotiable copies of bills of lading, or third party's certificate certifying the non-payment by the applicant. The second is the indemnity for minor discrepancies in the documents given to the shipping company so that the issuing bank may make payment or the shipping company may release goods to the applicant.
1. According to the passage, a documentary letter of credit is one which ______.
A.includes any drafts
B.includes drafts accompanied by invoice, bill of lading and other documents
C.is accompanied by invoices, bill of lading and other documents
D.is accompanied by drafts as well as insurance policy and commercial invoices
A B C D
B
文章第一段提到Most commercial letters of credit...drafts drawn under the terms of the credit。跟单信用证必须包括依据开信用证条款项下所开具的单据。
2. A clean credit is one which ______.
A.calls for no presentation of it
B.is used instead of first demand guarantee
C.is used without presentation of any documents
D.is the same as an unconditional first demand guarantee
A B C D
C
光票信用证是不附单据、受益人可以凭开立收据或汇票分批或一次在通知行领取款项的信用证。
3. Under a standby letter of credit, ______.
A.evidences of the underlying transaction should be filed first
B.the applicant may be exempted from any liabilities
C.the issuing bank has to pay the beneficiary
D.the issuing bank should pay when the applicant fails to fulfill his obligations
A B C D
D
文章第二段提到The first is the standby letter of credit...carry out his obligations。在备用信用证条款下,只有当申请人不履行条款中所付的责任时,开证行才承担责任。
4. The indemnity may be ______.
A.used whenever there are discrepancies in the documents
B.presented when the shipping company intends to release the goods to the applicant
C.presented to the issuing bank of the L/C under which there are unimportant discrepancies in the documents
D.used in lieu of shipping documents
A B C D
A
文章最后提到the indemnity for minor discrepancies in the documents, 由此可知A选项符合题意。
5. Standby letters of credit are relatives of documentary letters of credit because ______.
A.they are very similar to ordinary letters of credit in operation
B.the issuing banks undertake to pay
C.they are normally accompanied by evidences of transactions such as non-negotiable copies of B/L or other documents
D.they call for all kinds of normal documents
A B C D
C
备用信用证和跟单信用证的相同点是都附有交易凭据。
Passage 2 Bankers' 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. 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. If this is done, the draft can be sent through correspondent banks back to the domestic bank against which it is drawn. The domestic bank can buy the draft, a short-term loan agreement to be paid by the company buying the goods abroad. This action would tie up bank funds. Alternatively, the bank can stamp the draft "accepted" with the appropriate signature, thereby indicating that the bank guarantees the draft, and then sell it in the secondary market.
1. What gives rise to the bankers' acceptances?
A.The money markets.
B.The banks.
C.The international trade.
D.The buying and selling of goods.
A B C D
C
文中第一句话明确指出Bankers' acceptances often arise in foreign trade, arise起因于,give rise to引起。foreign trade和题中的international trade都指国际贸易或者对外贸易。
2. What will a foreign seller do when he gets the letter of credit from the buyer?
A.He will draw a bill of exchange on the buyer's bank.
B.He will sell it and get money at once.
C.He will make payable on demand.
D.He will authorize the company to make the payment.
A B C D
A
文中第二句The letter will authorize the foreign seller to draw a draft on the company's bank,意思是信用证可以使卖方能从为买方提供服务的银行获得汇票。
3. How can the seller receive immediate payment if the draft is made payable on a future date?
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.
A B C D
D
第六句指出This draft can be discounted at the seller's bank so that the seller receives immediate payment,意即卖方可以给予银行折扣来获得远期汇票的即期付款。
4. What will the buyer do if his bank buys the draft for him?
A.He will open a letter of credit.
B.He will repay the bank a short-term loan.
C.He will buy back the draft.
D.He will return the money to the seller.
A B C D
B
倒数第三句The domestic bank can buy the draft, a short-term loan agreement to be paid by the company buying the goods abroad,是说当国内银行购买了卖方的远期汇票时,购买商品者就必须偿还银行的这笔短期贷款了。
5. What will happen if a draft is stamped "accepted" by a bank?
A.The bank will sell it as soon as possible to the buyer.
B.The draft will become money market funds.
C.Dealers will buy it in the domestic market.
D.The draft becomes a banker's acceptance and will be sold in the money market.
A B C D
D
最后一句指出Alternatively, the bank can stamp the draft "accepted" with the appropriate signature,...sell it in the secondary market, 意思是作为一种选择,由银行承兑的汇票可以在二级市场上流通(这是因为银行信誉度高的缘故)。
Passage 3 Futures are used for three purposes; hedging, speculating and arbitraging. This passage is only concerned with hedging, but it should be noted that speculators and arbitrageurs play a particularly important role in the market. It is largely the speculators who take on the risks that the hedgers seek to shed, while the arbitrageurs, by ensuring that futures prices constantly stay in line with other markets, give both hedgers and speculators the confidence that they are doing their deals at the right price. The volume of deals for arbitrage and speculation purposes is much higher than that for hedging purposes. This is similar to the foreign exchange markets, where it has been estimated that, the foreign exchange business needed in any one year for commerce and tourism is all done by 11 a.m. on 2, January, while the rest of the year is taken up with speculating and arbitraging. However, the purpose of the futures markets and what makes them different from a simple gambling ring in the eyes of the law, is to provide a service to those commercial enterprises which seek to hedge their risks. It is their money which drives much larger volume of other transactions and not the other way round. You might have expected, as is certainly the case in most other financial markets, that big institutions would be more ready and able than small individuals to shoulder the risks involved in dealing speculatively in futures. However, futures markets are exceptional in this regard. In contrast to other financial markets, which are dominated by big institutions, or at least by fairly sizeable firms, the lifeblood of a successful futures market is its "locals"-independent firms of only a few individuals trading for their own account. It is these quick-witted, aggressive and generally rather blunt-spoken individuals, viewed usually by outsiders with the utmost mistrust, who take the risks that others use the futures market to shed, and provide the markets with the liquidity without which they would he dead. The single reason why Chicago took off as a financial futures market where others lagged behind is that the CBOT and IMM already had a large pool of locals ready to turn their hand from soya beans to long bonds and provide the new contracts with risk-taking capacity.
1. According to the passage, the main purposes of futures contracts are ______.
A.to hedge
B.to speculate
C.to arbitrage
D.all of the above
A B C D
D
文章第一段提到Futures are used...and arbitraging. 期货合同的主要目的有三个:保值、投机和套利。
2. Arbitrageurs in the futures markets are those people who ______.
A.take on the risks that hedgers want to shed
B.seek to hedge their risks
C.make the futures prices move in accordance with other markets
D.all of the above
A B C D
C
文章第一段提到while the arbitrageurs, ...at the right price. 套利者进入期货市场可以确保期货市场的价格和其他市场保持一致,从而使保值者和投机者以合理的价格进行交易。
3. Which of the following statements is true?
A.The volume of deals for hedging purposes is much higher than that for arbitraging and speculative purposes.
B.The foreign exchange business for commerce and tourism must be done before 11a.m.on 2 January.
C.It is hedgers' money that drives much larger volume of other transactions.
4. The lifeblood of a successful futures market is ______.
A.big institutions responsible for their own risks
B.fairly sizeable firms
C.independent firms of a few individuals trading for their own account
D.none of the above
A B C D
C
文章最后一段提到the lifeblood of a successful f...for their own account. 成功的期货市场依赖的是一些不大的期货自营公司,这些公司中人员不多,但是公司以自营期货交易为主。
5. The best title for the passage can he ______.
A.What Are Futures Used for
B.Who Are the Arbitrageurs, Speculators and Hedgers
C.How to Hedge Risks
D.How to Trade in Futures Market
A B C D
A
文章最适当的题目应选A项。
Section Two Directions:There are ten statements in this section. For each statement 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.
1. The main liability on a bank balance sheet is ______.
A.deposits
B.capital and reserves
C.loans and overdrafts
D.cash
A B C D
A
deposits存款。liability负债。bank balance sheet银行资产负债表。capital and reserves资本金和准备金。loans and overdrafts贷款与透支。cash现金。
2. Provisions for bad and doubtful debts are held in respect of customer outstandings which may exclude ______.
A.advances
B.loans
C.overdrafts
D.cash
A B C D
D
对坏账和可疑债务设立准备金,是缘于客户未结清账目,未结清账目包括放款(advances)、透支(overdrafts)、贷款(loans)、已贴现和转让票据(bills discounted and negotiated)、有价证券投资(securities investment)。
3. Unless otherwise stated in the letter of credit, banks will not accept ______ presented by the beneficiary.
A.open cover
B.cover note
C.insurance certificate
D.insurance policy
A B C D
B
the letter of credit信用证。beneficiary受益人。cover note承保单。open cover预约保险合同。insurance certificate保险证明书。insurance policy保险单。
4. Before making a loan, potential lenders determine the borrower's ability to meet ______.
A.scheduled payment
B.his creditor
C.the government's requirements
D.financial information
A B C D
A
creditor债权人,贷款者。
5. As far as the beneficiary is concerned the letter of credit which is available by ______ is the least favorable.
6. ______ generates confidential information for internal decision makers, such as top executives, department heads, college deans, and hospital administrators.
7. The statements concerning nominal and real interest rate are true except that
A.the nominal interest rate is the growth rate of your money
B.the real interest rate is the growth rate of your purchasing power
C.the nominal rate is the real interest rate deducted by the rate of inflation
D.all of the above statements
A B C D
C
名义利率减去通货膨胀率等于实际利率。nominal interest rate名义利率。
8. Which of the following payment terms eliminates the exchange risk, assuming the exporter invoices in foreign currency?
A.Confirmed irrevocable documentary credit
B.Open account
C.Documentary collection D/A
D.None of the above
A B C D
D
payment terms付款条款。to invoice in foreign currency开出以外币(汇)计量的发票。 confirmed irrevocable documentary credit保兑的不可撤销跟单信用证。D/A(documents against acceptance)承兑交单。
9. The spot rate of French Francs is 9.2950 9.3055; the three month premium is 5.50-4.70 centimes. What is the rate at which a UK bank would buy French Francs under a three-month fixed forward contract?
10. Name a major advantage of a revolving L/C as compared with multiple L/Cs.
A.It saves bank charges
B.It involves less charges
C.The applicants for the credit wouldn't pay any commission
D.The terms of the credit can be amended if necessary
A B C D
A
循环信用证(revolving L/C)可避免银行多次重复开信用证,因而节约费用。applicant for the credit开证申请人。
Passage One
Passage Two
Section Three Directions:There are 10 blanks in the following passages. For each blank, there are four choices marked A, B, C and D.
Passage One Billions of dollars worth of new securities reach the market each year. The traditional 1 in the primary, markets is called an investment banker. The investment banker's principal activity is to bring sellers and buyers together, thus creating a market. He normally buys the new issue from the issuer at an agreed upon price and hopes to 2 it to the investing public at a 3 price. In this capacity, investment bankers are said to underwrite, or guarantee, an issue. Usually, a group of investment bankers joins to underwrite a security offering and form what is called an underwriting syndicate. The 4 received by the investment banker in this ease is the differential, or spread, between his purchase and resale prices. The risk to the underwriter is that the issue may not attract buyers at a 5 differential.
Passage Two Commercial banks provide long term mortgage loans to borrowers (consumers) to purchase houses/land. The ownership of the 1 remains in mortgagee and the possession of property usually remains in 2 unless and until the occurrence of default or full repayment. Maturity of such loans is usually 30 years and the interest rates are 3 Maximum amount of such loans is 4 of the property value, and the balance should be paid 5 as down payment.
in cash用现金。in advance预告,事先。in time及时。in currency货币。
Section Four 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".
Passage One A commercial bank shall formulate its business rules, establish and improve its business management, the system of cash control and its security system in accordance with the stipulations of the People's Bank of China. A commercial bank shall establish and improve its systems of examining and checking deposits, loans settlements and bad and doubtful accounts. The PBC can exercise examination of commercial bank at any time in accordance with the relevant provisions. The personnel in charge of the examination and supervision should produce their legitimates at the time of conduction examination and supervision. A commercial bank shall provide financial accounting information, business contracts and other information about its business and management at the request of the People' s Bank of China. A commercial bank is subject to the audit control by the auditing authorities in accordance with the audit law and regulations.
1. The PBC can exercise examination of a commercial bank at any time.
A.Right
B.Wrong
C.Doesn't say
A B C
A
第二段第二句话The PBC can exercise examination of commercial bank at any time in accordance with the relevant provisions. 容易看出。
2. A commercial bank shall establish and improve its system of internal control according to law.
A.Right
B.Wrong
C.Doesn't say
A B C
A
整个第一段和第二段第一句A commercial bank shah...its systems of examining and checking deposits, loans settlements and bad and doubtful accounts.这些都是内部控制的具体内容。
3. A member staff of the PBC should present his legitimate certificate for on-site examination.
A.Right
B.Wrong
C.Doesn't say
A B C
A
第二段最后一句看出The personnel in charge of...at the time of conduction examination and supervision.
Passage Two Funds derived from term loans are used for a number of purposes. One of the most important is the purchase of buildings and equipment needed by the borrower to maintain a competitive position and keep pace with the demand for the firm's products. In addition, increased sales usually call for increased working capital, which may be financed through term borrowing. Term loans are used to finance new ventures, at which a firm adds a new product or integrates vertically to produce some portion of the raw materials needed in its operations. Term borrowing is also used to refinance existing obligations. Frequently, the borrower needs to draw down the funds over a period of many months, as in the case of a major plant expansion or the acquisition of a fleet of aircraft. In such cases it is common practice to combine the term loan agreement with a commitment agreement or revolving credit. The lender agrees to make funds available to the borrower as they are needed over a period of, say, two years up to a specified total amount. The agreement also provides that at the end of the commitment period the entire amount borrowed to that date shall be incorporated in a term loan. For an arrangement of this kind, the borrower is normally required to pay a commitment fee of from one-fourth to one-haft of 1 percent on unborrowed amounts during the period of the bank's commitment.
1. Term borrowings are used to finance the borrowers to purchase buildings and equipment needed, working capital and existing obligations.
A.Right
B.Wrong
C.Doesn't say
A B C
B
结合整个文章第一段可以知道定期贷款(term borrowings)可以用来为购买所需要的设备、房产以及营运资金进行融资(finance),但是第一段最后一句指出Term borrowing is also used to refinance existing obligations. refinance再融资,与融资含义不同。
2. The borrower may draw the funds from the credit aggregates within the time limit for expanding their operations.
A.Right
B.Wrong
C.Doesn't say
A B C
A
整个第一段和第二段第一句都说明了在确定的时期内,定期贷款可能被用作扩大经营,a major plant expansion(企业扩大)所带来的提示。
3. A revolving credit commitment gives the borrower assurances of the availability of funds over unexpected period of tight credit in future years.
4. The term-loan agreement specifies a draw-down period of, say, up to two years, during which the funds must be used by the borrower; otherwise the borrower is not allowed to draw down any unused credit.
A.Right
B.Wrong
C.Doesn't say
A B C
C
关于定期贷款协议文中第二段第一句Frequently, the borrower needs to draw down the funds over a period of many months...做了简短的说明,并没有提到题中所说的贷款额必须全部使用完,更没有说不允许使用没有使用的信用额度。
Passage Three Whereas the money markets provide very short-term loans, the capital market takes account of medium and long-term loans. It serves the needs of industry and commerce, government and local authorities. Private sector firms borrow their working capital (current assets minus current liabilities) from the money market, which used to be mainly via commercial banks; the role of banks as middlemen has now diminished, even for the working capital requirements. Private sector firms raise their fixed capital by the issue of shares or commercial paper bonds. Government and local authorities borrow medium and long-term capital by issuing gilt-edged stocks and bonds. The main market place for lending and borrowing medium and long-term capital in the UK is the Stock Exchange in London.
1. An industrial corporate can meet its financial needs by seeking funds from the capital market.
2. Nowadays a private business usually obtains its working capital through a commercial bank.
A.Right
B.Wrong
C.Doesn't say
A B C
B
第三句话指出Private sector firms borrow...even fir the working capital requirements.意为货币市场代替了银行为企业运营资金的功能,银行作为中介人,在这业务上也处于收缩状态。
3. In the UK commercial banks often raise funds by issuing bonds and stocks.
A.Right
B.Wrong
C.Doesn't say
A B C
C
文中最后一句仅说The main market place for lending and borrowing medium and long-term capital in the UK is the Stock Exchange in London.,并没有提及英国商业银行常常通过发行股票和债券进行融资(raise funds)。
Part Three Writing
Section One Directions:Translate the following sentences into Chinese.
1. There are a variety of financial products available in the markets, such as A-shares, B-shares, securities investment funds, treasury bonds, corporate bonds, convertible bonds, commodity futures, ETF, LOF and warrants.
2. Financial institutions undertaking foreign exchange operations should submit to the SAFE their balance sheets, income statements, other financial and accounting statements and information of foreign exchange operations.
3. The primary statements of a company include the balance sheet, the income statement and the statement of the flow.
公司的主要财务报表包括:资产负债表、收益表和现金流量表。
4. The four types of documentary credit are payment credit, negotiation credit, acceptance credit and deferred payment credit respectively.
四种跟单信用证分别是即期付款信用证、议付信用证、承兑信用证和延期付款信用证。
Section Two Directions:Describe the procedures of supplier credit according to the numbers given in the following charter.
1.
1、The exporter(supplier) and importer conclude a supply contract with special payment terms under which importer pays for the contract goods by half-yearly installments. 2、 The exporter and importer make an application to exporter's bank and importer's bank respectively. 3、 The importer's bank issues a letter of guarantee in favor of the supplier to the supplier's bank. 4、 The supplier's bank enters into a loan agreement with the supplier. 5、 Exporter's bank files an application for the individual loan agreement to the government's export agency, and the loan agreement comes into effect after the export agency approves it.
Section Three Directions:Write a bank letter according to the following requirements.
Date: August 20, 2008 To: Wang Yan, Manager of Credit Card Department From: Madonna Yang, Assistant President Subject: Emily Denman's request for VISA card Ms. Emily Denman who is a lawyer of TTT Attorney Office requests for a VISA Card from our bank. Ms. Denman says that she has maintained an account with us for four years with a balance of USD 98, 562 at present (account No. 108-602-20). Ms. Denman says that she asked for a VISA card 1 month ago, but she hasn't got one by now. As she will go abroad soon, she needs it badly, please look into the matter and let her go through the necessary formalities as soon as possible. This memo is sent without any special recommendation because I don't know her. Encl: Ms. Denman's application form CC: Ms. Emily Denman 重庆韦博英语提供,转载请注明(http://cq.edulife.com.cn/school/cqweibo/)